Genedrive (LSE:GDR) delivered higher revenue for the 2026 financial year as demand for its rapid genetic testing products continued to grow across the NHS and international markets.
The company also strengthened its financial position following a successful equity fundraising, providing additional resources to support product development, regulatory programmes and commercial expansion.
Revenue Growth Driven by Increasing Test Adoption
Genedrive reported unaudited income of approximately £1.4 million for FY26, compared with around £1.0 million a year earlier.
Growth was supported by wider adoption of its MT-RNR1 and CYP2C19 pharmacogenetic tests, with international markets now accounting for around one-quarter of total revenue.
A fundraising completed in March generated net proceeds of approximately £4.9 million, leaving the company with cash of around £3.0 million at the financial year-end.
Management said the additional funding will help finance ongoing regulatory activities, product innovation and further commercial growth.
NHS Rollout Continues to Expand
The company’s MT-RNR1 genetic test has continued to gain traction across the NHS, with the technology now moving towards routine clinical use in more than 20 neonatal intensive care units.
According to Genedrive, over 13,000 newborn babies have been tested to date, with more than 40 cases of irreversible hearing loss prevented through the identification of genetic risk before treatment.
Around 25 NHS business cases are currently progressing, while national clinical guidance is expected during 2027.
Genedrive’s CYP2C19 point-of-care test is also being adopted by leading UK stroke centres. The company said NHS England pilot data demonstrated that the test delivers results more rapidly than traditional laboratory-based methods.
To broaden the product’s market opportunity, Genedrive is collaborating with Thermo Fisher Scientific to develop a high-throughput laboratory version of the CYP2C19 assay.
International Growth Strategy Advances
Outside the UK, Genedrive continues to expand its commercial footprint through a number of international initiatives.
The company is progressing pilot programmes in Spain, has secured a three-year commercial agreement in the United Arab Emirates and is working with health authorities in Saudi Arabia on implementation and procurement plans for the MT-RNR1 test.
Genedrive also confirmed that its planned U.S. Food and Drug Administration 510(k) submission for the CYP2C19 test has been delayed due to the scheduling of third-party clinical studies.
Despite the revised timeline, management said obtaining U.S. regulatory clearance remains a strategic priority and pre-submission work is continuing.
Governance Strengthened to Support Growth
The board is continuing the recruitment process for a new independent chairman and two additional non-executive directors as part of its wider governance strategy.
Management remains focused on converting pilot projects into routine clinical adoption, supporting NHS commissioning pathways, expanding internationally and progressing regulatory approvals that can drive future commercial growth.
About Genedrive
Genedrive plc is a UK-based commercial-stage molecular diagnostics company specialising in rapid point-of-care pharmacogenetic testing.
Its CE-IVD approved and NICE-recommended MT-RNR1 and CYP2C19 tests are designed to help clinicians make faster treatment decisions, reduce adverse drug reactions and improve patient outcomes in emergency and acute care settings across the NHS and international healthcare systems.
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