Tristel posts double-digit growth driven by US expansion and product innovation

Tristel (LSE:TSTL) reported strong results for the six months ended 31 December 2025, with revenue increasing 14% to £25.65 million. Adjusted EBITDA rose 17% while adjusted profit before tax grew 11%, supported by robust gross margins of 81% and continued cash generation alongside a debt-free balance sheet. The company maintained its interim dividend during the period, with sales expanding across both domestic and international markets, led by strong demand for its medical device disinfectants and Cache surface disinfection range.

Performance in the United States was a key highlight, with revenue increasing more than sixfold, driven by accelerating adoption of the ULT ultrasound disinfection system, growing royalty income and updated US clinical guidance endorsing chlorine dioxide for high-level disinfection. During the period, Tristel also launched its OPH ophthalmic disinfectant in the US market, introduced the VISICLEAN cleaning product, brought wipe manufacturing in-house and appointed a new chief financial officer. Chief executive Matt Sassone confirmed plans to step down at the end of the year, although the company said the leadership transition is not expected to disrupt strategic execution.

Tristel’s outlook is supported primarily by strong financial delivery and a positive management outlook, which underpin its overall investment case. Technical indicators suggest some caution due to potentially overbought conditions, but continued strategic expansion and dividend stability reinforce a constructive longer-term growth profile. Valuation concerns are partly offset by the company’s growth trajectory and market positioning.

More about Tristel

Tristel plc is a global infection prevention specialist that develops and supplies disinfectant products based on proprietary chlorine dioxide chemistry. The company is a market leader in manual medical device decontamination and offers a sporicidal surface disinfection range designed as a more sustainable alternative to pre-wetted plastic wipes. Headquartered near Cambridge, Tristel operates in more than 40 countries through a network of 16 subsidiaries.