Metir (LSE:MET) reported revenue of £367,000 for the first half of 2026, with equipment sales, a temporary halt to QuickChek SRB production and disruption to a continuous toxicity monitoring project in Qatar affecting the period.
Gross margin increased to 46.3% as the company made changes to its product economics.
Metir said it expects full-year 2026 revenue to be lower than the previous year and is seeking additional funding to support its planned activities.
QuickChek SRB Production Set to Restart
Production of the company’s QuickChek sulphate-reducing bacteria, or SRB, products was temporarily suspended during the first half.
Metir is working to restart and increase production of the kits, which form part of its plans to develop recurring consumables revenue.
The company also expects its installed base of continuous toxicity monitoring systems in Qatar to generate recurring consumables revenue. The Qatar project experienced disruption during the period as a result of regional conflict.
Metir is also undertaking validation work in Saudi Arabia as part of its activities in the Middle East.
PFAS Platform Records First U.S. Sale
Metir continued development of its PFAS detection technology during the period, reporting its first sale in the United States alongside field trials and new partnerships.
The company also expanded its relationships within the semiconductor industry and extended distribution of its Microtox and Modern Water products across several markets, including the Middle East, Australia and New Zealand.
Management said its priorities include converting its sales pipeline, increasing SRB kit production and developing recurring revenue from its installed equipment and consumables.
Company Seeks Additional Funding
Metir is seeking new funding as it works to progress its commercial and product-development plans.
The company has identified its PFAS technology, SRB products and continuous toxicity monitoring operations among the areas it expects to contribute to its growth plans for 2027. These expectations remain dependent on factors including funding, commercial execution and the progress of its various programmes.
About Metir
Metir is an AIM-listed provider of mobile and point-of-use water and environmental testing technologies.
Its portfolio includes Microtox instruments and reagents, QuickChek SRB kits, continuous toxicity monitoring systems and PFAS detection technology for municipal water, industrial and environmental monitoring applications.
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