Creo Medical (LSE:CREO) reported a 45% increase in revenue for the first half of 2026 as underlying operating costs declined and the company’s underlying operating loss narrowed.
The medical device company recorded revenue of £3.2 million for the six months ended 30 June 2026. Underlying operating costs fell 15% to £7.9 million, while the underlying operating loss decreased by more than a quarter to £4.9 million.
During the period, Creo completed a £5.5 million equity placing and secured a £2.0 million loan from the Development Bank of Wales. The company is also taking steps to simplify its group structure and reduce its operating cost base.
Speedboat Procedures Exceed 10,000
Creo said its Speedboat device has now been used in more than 10,000 procedures, while clinical use of its SpydrBlade Flex and MicroBlate products has also increased.
The company reported a growing amount of external clinical data relating to the safety and technical success of its devices in colorectal cancer and peroral endoscopic myotomy, or POEM, procedures.
Creo specialises in minimally invasive electrosurgical devices used in endoscopic procedures, including products designed for resection, dissection, coagulation, haemostasis and ablation.
Manufacturing Changes Target Further Cost Reductions
The company is outsourcing manufacturing operations at its Chepstow facility as part of its cost-reduction programme.
Management expects the change to reduce annual operating costs by approximately 15% compared with FY25 levels.
Creo said trading is expected to be weighted towards the second half of the year and cited its order book and continued clinical validation of its products as factors supporting its full-year expectations.
The board maintained guidance for full-year revenue growth of between 50% and 60%.
Creo Plans Sale of Remaining Spanish Business Stake
Creo is also progressing the proposed sale of its remaining 49% interest in Creo Medical S.L.
The company expects to enter into binding terms for the transaction during the fourth quarter of 2026. According to Creo, the proposed disposal would simplify the group’s operations and provide additional cash resources.
Creo Medical’s Endoscopy Portfolio
Creo Medical develops and commercialises electrosurgical devices for minimally invasive endoscopic treatment, including procedures involving pre-cancerous and cancerous tissue.
Its product portfolio includes Speedboat, SpydrBlade and MicroBlate devices. The company’s CROMA platform uses its Kamaptive technology to provide bipolar radiofrequency and microwave energy for a range of endoscopic procedures.
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