Abingdon Health (LSE:ABDX) reported a 32% increase in total revenue to £11.3 million for the financial year ended 2026, supported by growth in contract development activities and regulatory consulting services.
The medical technology contract services provider recorded a 30% increase in reported revenue to £11.0 million, while gross margin improved to 47.1%. Contract development income rose 56% during the year, contributing to the group’s overall revenue growth.
Abingdon achieved positive adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) in the second half of FY26, while its annual pre-tax loss narrowed to £2.0 million.
The company ended the financial year with cash balances of £2.9 million, following investment in its operational capabilities and international expansion.
Contract development activities accounted for a significant proportion of the group’s revenue growth, reflecting demand for its diagnostic test development and manufacturing services.
Abingdon provides contract development and manufacturing organisation (CDMO) services for lateral flow and other in vitro diagnostic products, supporting customers through product development, testing, regulatory processes and commercial manufacturing.
Revenue from regulatory and medical technology consulting services increased 21% to £4.1 million during FY26. These activities include regulatory compliance, quality management, technical documentation and performance evaluation services for diagnostic product developers.
The group also completed a £3.2 million equity fundraising during the year to provide additional working capital and support the expansion of its US operations.
Part of the funding is being allocated to the company’s facility in Madison, Wisconsin, which Abingdon intends to develop into a manufacturing and performance evaluation centre.
The expansion is designed to increase the services available to US customers, adding manufacturing capabilities to the group’s existing development, testing and regulatory support operations.
Abingdon also expanded its presence in the US capital markets, with its shares beginning trading on the OTCQB market under the ticker ABDXF. The company retains its existing London Stock Exchange listing under LSE:ABDX.
Management reported a pipeline of contract development projects, including programmes expected to progress towards manufacturing activities as customers advance their diagnostic products through development and regulatory stages.
However, the company said delays affecting certain programmes are expected to influence the timing of revenue recognition during FY27.
As a result, management anticipates that revenue for the current financial year will be substantially weighted towards the second half, reflecting the expected timing of project delivery and commercial manufacturing activities.
The company continues to invest in its development, manufacturing and regulatory service capabilities across its UK and US operations.
Abingdon’s FY26 results included higher revenue, an improvement in gross margin and a reduction in the annual pre-tax loss, alongside the achievement of positive adjusted EBITDA during the second half.
The group enters FY27 with its expanded US operations under development and a pipeline of customer programmes, although the timing of contract progression and associated revenue remains dependent on project schedules.
About Abingdon Health PLC
Abingdon Health plc is a UK-headquartered medical technology contract services company specialising in rapid diagnostic testing and in vitro diagnostics.
The group provides contract development and manufacturing services for lateral flow assays, alongside regulatory consulting, analytical testing, quality management and diagnostic product performance evaluation.
Its operations are based in York and Doncaster in England and Madison, Wisconsin, in the United States, serving customers across healthcare, biotechnology, animal health and environmental testing markets.
Abingdon supports diagnostic product developers through multiple stages of commercialisation, including initial product design, assay development, validation, regulatory documentation, manufacturing scale-up and routine production.
The group’s subsidiaries include Compliance Solutions (Life Sciences), IVDeology and Abingdon Analytical, which provide services covering regulatory strategy, quality management systems, technical file preparation, auditing, training and analytical evaluation.
Through its development, manufacturing and consulting operations, Abingdon works with customers seeking regulatory approval and commercial production of diagnostic products in the UK, European Union, United States and other international markets.
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