EKF Diagnostics Holdings plc (AIM:EKF) released its full-year trading update for 2025, showing a 3% rise in revenue to £51.6 million and adjusted EBITDA up almost 10% to £12.4 million, matching consensus expectations. Management characterized the set of results as a firm base for the groups announced five-year growth strategy.
The strategy outlined by the company centers on three priorities: becoming the global leader in Point-of-Care Hematology testing, consolidating its position in the supply of beta-hydroxybutyrate (β-HB), and reshaping its Life Sciences division into a world-class Contract Development and Manufacturing Organization, or CDMO.
Division-level performance
Point-of-Care revenues recorded a 6.5% increase for the period, while the Life Sciences segment expanded by 7.2%. Sales of β-HB improved by 10%. These gains contributed to the overall revenue lift to £51.6 million.
The company also noted the signing of a new fermentation development agreement with a prominent diagnostics customer. EKF said this contract added incremental revenues late in 2025 and that the contribution will extend into 2026.
Margins, cash and capital allocation
Gross margins strengthened to 51% in 2025, up from 48% in 2024. EKF reported cash balances of £15.8 million at December 31, 2025, compared with £14.3 million at the end of 2024, indicating continued cash generation through the year.
The company achieved this level of cash after deploying £5.1 million for share buy-backs and making investments aligned with its strategic development plan. Separately, EKF disclosed that since the start of its current buy-back programme it has acquired 21,150,452 ordinary shares at an average price of 25.13 pence per share. Those purchases represent 5% of available shares and were made at an aggregate cost of £5.3 million.
Outlook and context
EKF described the 2025 results as providing a strong foundation for its medium-term ambitions in Point-of-Care Hematology, β-HB supply and the Life Sciences CDMO transition. The company highlighted the fermentation development agreement as a source of additional revenue into 2026.
No guidance changes beyond the strategic priorities were disclosed in the trading update.