Genincode plc AIM:GENI
- Incorporated
- United Kingdom
- Chief executive
- Matthew Walls
- Employees
- 46
- Reports in
- GBP
- Companies House
- 11556598
Read straight from the annual reports
0.6p at close on 8 Oct 2026 · 7 reported years, 2019–2025
| Line | FY201912/19 | FY202012/20 | FY202112/21 | FY202212/22 | FY202312/23 | FY202412/24 | FY202512/25 | FY2026unreported |
|---|---|---|---|---|---|---|---|---|
| Revenue | ||||||||
| Gross profit | ||||||||
| Operating profit | ||||||||
| Exceptional items | — | — | — | — | ||||
| Net finance cost | ||||||||
| Profit before tax | ||||||||
| Tax charge | ||||||||
| Profit for the year | ||||||||
| EBITDA | ||||||||
| Basic EPS | — | |||||||
| Diluted EPS | — | |||||||
| Dividend per share | — | — | — | — | — | — |
GBP millions, negatives in brackets. Per-share lines in pence, share counts in millions. later is what a following report restated the figure to; vs is a second reading that disagrees. The figure shown is the one the original filing printed, and both readings are kept. Click any figure: opens the report page it was read from, highlighted; shows how it was calculated. The share price above is drawn to the same columns: each close sits over the financial year it fell in.
7 years, at a glance
Dashed: Operating margin, in % on its own scale — read its shape, not its height against the bars.
GENinCode, which develops genetic tests that predict heart disease risk and help detect ovarian cancer early, grew revenue to £3.1m in 2025 (previous year £2.7m). Its loss after tax widened to £5.7m from £4.4m. Sales rose in the UK, Europe and the US. The company also kept more of each pound of sales, as more testing moved to a cheaper UK laboratory. But running costs rose as it expanded its sales teams, and a government tax credit for research spending was much smaller than the year before. Unlike 2024, the year had no one-off charges or gains. The company had no borrowings and £827k of cash at the year end, down from £1.1m, after raising £3.7m from shareholders. No dividend was paid. In February 2026 it raised a further £4.7m. Management expects higher sales and smaller losses in 2026, helped by a new deal with Thermo Fisher, a large laboratory supplier, and hoped-for US regulatory approval. However, the report warns of significant doubt about whether the company can keep going without more funding, and says another fundraise is likely.
Scaling commercial programmes across UK, Europe and US
14% revenue increase to £3.1m (2024: £2.7m), driven by growth across UK, European and US businesses
page 4US institutional onboarding and insurance reimbursement for LIPID inCode
Onboarded over 45 top-tier institutional sites; CARDIO inCode-Score included in US CMS 2025 Clinical Lab Fee Schedule at median price of $500 per test; LIPID inCode average insurance reimbursement of $1,229
page 4Increased volume sales across most products
Gross margin improved from 52.8% to 58.6%
page 7End of Girona (Spain) lab arrangement shifting testing to lower-cost UK lab
Around half of testing was carried out from the UK lab, at lower cost, due to lab arrangements in Girona coming to an end during the year
page 7We expect to see revenues grow across the business over the coming year based on increasing sales volumes, the Thermo Fisher collaboration, and FDA Pre Marketing approval of CARDIO inCode-Score.
page 59 February 2026: Company issued 466,159,095 new ordinary shares at 1.0p per share, raising £4.7m gross for the Group; 23,000,000 of these shares issued to Directors under the same terms
page 28No dividend paid or recommended for FY2025, due to accumulated losses and development stage of the Group; policy is to retain earnings/capital for commercialisation
page 27Auditor Crowe U.K. LLP gave an unqualified opinion but drew attention to a material uncertainty related to going concern (note 2): the Group may require further funding if there are delays in forecast revenue growth, which could impact liquidity; opinion was not modified in respect of this matter. Revenue recognition was identified as the sole Key Audit Matter (existence, cut-off, and US insurance-reimbursement recoverability estimation). Group materiality was set at £280,000 (2024: £250,000), based on 5% of loss before tax. Subsequent to year-end, the Company raised £4.7m via a February 2026 placing (466,159,095 shares at 1.0p) which the directors cite in support of going concern, though a further fundraise is still considered likely.
page 31- Regulatory Approval - risk of delay to FDA clearance for Cardio inCode in the US, impacting commercialisation timeline and revenuep.13
- Revenue Growth - long-term plan hinges on expansion into the large US market and realising perceived demandp.13
- Key Personnel - reliance on a small number of key individuals in management and scientific advisors; departure could negatively impact operations and strategy executionp.13
- Regulatory Environment - broad exposure to laws/regulations on occupational safety, clinical lab operations, medical devices, data privacy, reimbursement, hazardous materials, animal research, clinical trialsp.13
Read from C000535-AR-2025-ch.
6 annual reports read, FY2020 to FY2025
Open a year to see what its report said. Every line in it carries the page it was read from.
Sources: Companies House (6)
FY2026Next report expected 10 Jun 2027