RE: 2026 guidance looks weak23 Sep 2025 08:37
I am happy with those results and at this level have just bought quite a few more. We all knew that 2025 was going to be bad with the HCT cancellations and the ongoing delay to commit. I understood they were waiting on two large contracts, either of which would put them back on track, if they got both then they would have struggled and needed to employ a lot more people.
Maybe, just maybe these are still in the pipeline.
They have cut costs to cover the lower revenues, but also had cancellation fees to help with this half's figures, for the cash position they do need to sign up some HCTs before Christmas.
However CRS is going well as are HLAB, there is also the potential for large field trials which will bump up the revenue.
Overall we have seen a slight boost to estimates for the full year from the May statement so happy to see them feeling a little more positive, especially without the HCS pipeline starting to move, if that does we could see quite a big change in feelings here.