EDX Medical Group plc (LON:EDX), which develops and supplies innovative digital diagnostic products and services to improve early detection and treatment of major diseases, has published its Annual Report and Financial Statements for the year ending March 31, 2026.
Highlights:
- Launch of highly accurate early detection testing services for testicular and bowel cancer.
- Partnership with Cambridge University, Cambridge University Hospitals NHS Foundation Trust & the UK Health Security Agency to provide a new pneumonia diagnostic test for critically ill patients with severe respiratory infections.
- Appointed lead delivery partner and supplier of diagnostic tests to Scottish Prostate Cancer Initiative which is conducting a testing project on 25,000 men.
- £5.5 million funding secured through the issue of new shares.
- Ongoing laboratory development of multi biomarker diagnostic panels for employee health testing screening service.
- Post period end move to AIM Market of the London Stock Exchange and subscription to raise £2.7 million.
Financial summary
The Group reported revenue of £330,000 and overall losses for the year of £5.7million (£3.7million, 2025). Administrative expenses rose to £5,493,436 (£4,381,634, 2025) and cost of sales (comprising £180,804 product costs and £296,387 laboratory related costs) rose to £477,191 from (£93,165, 2025).
The Company announced in April 2026 that it expected to record revenue for the year ended 31 March 2026 of £1.2 million – the quantum that the Company had invoiced for the provision of diagnostic tests during the financial year. The Company has received the bulk of the invoiced revenues but as processing of these orders ran beyond the end of the financial year, the Board – following discussion with the Company’s auditors – have deferred recognition of £860,000 revenue into the current financial year.
Jason Holt, chairman, EDX Medical, commented: “The Group has continued to build its range of innovative diagnostic tests and services during the reporting period. We have also invested substantially in our team and technologies in order for us to deliver the class-leading diagnostic solutions which are the hallmark of our business. The financial statements reflect that ongoing investment. We are still in the early stages of our commercial operations and have a high degree of confidence about the future. It is already evident that we are establishing our reputation as a trusted delivery partner in the burgeoning diagnostics market.”
