Key points
- Record revenue of $17.5m, up 14% year-on-year
- US Technegas revenue grew 74%, with 70 sites now generating revenue
- Gross margin improved to 56.3% due to higher-margin US revenue
- Cash balance at $12.2m, management expects to pass peak cash burn
- Significant growth in US government and healthcare sector installations
Full summary
Cyclopharm Ltd's half-yearly report for the period ended 30 June 2026 showed a 14% increase in revenue to $17.5 million, marking the company's fifth consecutive record half. The US is now Cyclopharm's primary growth engine, with Technegas revenue up 74% year-on-year. There are now 70 US revenue-generating sites, doubling from the previous year. The net loss after income tax was $8.8 million, reflecting investments in US commercial operations, increased R&D expenditure, and the absence of a $1.1 million joint venture profit from the previous year. Gross margin improved to 56.3%, and cash balance stood at $12.2 million following a $13.5 million institutional placement and Share Purchase Plan. Management believes the company has passed peak cash burn.
Guidance
Revenue of $17.5m for 1H2026, net loss of $8.8m, gross margin of 56.3%, cash balance of $12.2m
Outlook
Cyclopharm Ltd expects continued growth in US installations, with each new site expected to reduce monthly net cash consumption as the installed base grows.