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Tissue Regenix (LSE: TRX) announces H124 results

Tissue Regenix’s H124 results reflect sustained progress across its multiple areas of business, with revenues increasing by 16% to US$16.4m (H123: US$14.1m). This was largely driven by the robust performance of its key technology platforms, BioRinse (sales up by 12% to US$10.5m; H123: US$9.4m) and dCELL (sales up by 34% to US$4.2m; H123: US$3.1m). Gross profit also increased to 53% (H123: 49%) due to greater processing efficiencies and a favourable product mix. The company ended the period with a cash position of US$3.5m, which should see it through current business plans, including the Phase 2 capacity expansion of its San Antonio facility, expected to complete in 2025. Collectively, these results mark Tissue Regenix’s eighth consecutive period of growth and the seventh consecutive period of double-digit, half-on-half growth.

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26.09.24

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