Renalytix plc
Renalytix plc is a UK-incorporated, AIM-listed (previously also Nasdaq-listed, delisted October 2024) AI-driven in vitro diagnostics company focused on chronic kidney disease (CKD). Its lead product, kidneyintelX.dkd, is an FDA-authorized (Breakthrough Designation, De Novo) blood-based prognostic test combining biomarkers, genetics and EHR data to predict rapid progressive kidney function decline in diabetic kidney disease patients. Revenue is generated from testing services (lab fees for kidneyintelX.dkd tests, mainly US Medicare/insurance reimbursed) and pharmaceutical services (collaborations with pharma/research partners). Operations are run through US subsidiary Renalytix AI, Inc. and Irish subsidiary Renalytix AI Limited.
FY2025 in sixty seconds
year to 30 Jun 2025 · approved 31 Oct 2025 · 93 pages · Companies House
Renalytix plc sells a blood test that predicts which people with diabetes are likely to see their kidney disease worsen quickly. In the year to 30 June 2025, revenue rose to $3.0m from $2.3m, and the loss after tax narrowed to $20.4m from $45.5m.
The report credits more tests being ordered, more efficient lab work and much lower running costs, helped by leaving the US Nasdaq stock market. Last year's loss was swollen by a large write-down of its technology's value. This year included a one-off cost from replacing a convertible bond (a loan that can turn into shares).
The company raised $19.5m from shareholders during the year but ended it with $3.6m of cash and $8.3m of borrowings. No dividend was paid. After the year end it raised more money from shareholders. Management's priority for the coming year is getting the test built into large healthcare providers' computer systems. The auditor warned of a material uncertainty over whether the company can keep going.
Testing services revenue from kidneyintelX.dkd, driven by EMR integration with large physician practices (e.g. full integration with ACPNY in New York) and Medicare/commercial payer reimbursement
Testing revenue increased to $2.7m (FY24: $2.2m) driven by continued commercial momentum and broader clinical utilisation, supported by full electronic integration with ACPNY in New York
page 13Lab processing efficiencies and reduced depreciation/amortisation in cost of sales
Gross margin for the year was 40% (FY24: 9%); the increase is attributable to efficiencies in lab processing times, reduction in depreciation and amortisation attributed to cost of sales and increased services revenue which carry higher margins
page 13FY2025 was a key year for establishing a solid pathway for testing adoption, life science services and strategic partnering... measurable results in commercial testing volumes increasing by 37%, total revenues growing by 30%, and the average number of recurring ordering physicians per quarter rising by 69%
page 3The Group recorded a loss for the year of $20.4m (FY24: loss of $45.5m). Directors consider it more prudent to retain cash to fund development and do not recommend payment of a dividend in respect of FY25 (FY24: nil); no indication is given of likely level or timing of future dividends.
page 267 years on one page · FY2019–FY2025
| Line | FY2019locked | FY2020locked | FY2021locked | FY2022locked | FY202306/23 | FY202406/24 | FY202506/25 |
|---|---|---|---|---|---|---|---|
| Revenue | |||||||
| Operating profit | |||||||
| Profit for the year | |||||||
| Basic EPS | |||||||
| Free cash flow | |||||||
| Net debt (negative = net cash) | |||||||
| Shares in issue | |||||||
| Operating margin | |||||||
| Return on capital employed | — |
USD millions, negatives in brackets. Per-share lines in cents. Share counts in millions. Margins and returns as percentages, calculated from the filed figures. 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.
4 figures restated in a later report
Every figure is read again from the following year’s report: 215 confirmed, 7 differ, 4 restated.
No figure has been restated: every figure a later report printed again, it printed the same.
4 more figures were restated in FY2019 to FY2022, which a free account opens.