GENINCODE PLC - Full year results briefing

Genincode plc provided an investor update highlighting strong strategic progress across its cardiovascular genetics portfolio despite ongoing regulatory and healthcare funding challenges. Revenue increased 40% year-on-year, driven by growing adoption of its Lipid inCode and Cardio inCode precision medicine tests across the US and Europe, while gross margins improved significantly from 53% to 59% following operational efficiencies and laboratory consolidation. The company reported accelerating commercial momentum in the United States, with customer accounts increasing from 40 to 70 in recent months, supported by new clinical guidelines from the American College of Cardiology and American Heart Association that now incorporate polygenic risk scoring into cardiovascular risk assessment. Genincode remains focused on securing US FDA approval for Cardio inCode, with a resubmission planned for Q3 2026 following extensive collaboration with regulators to address validation requirements. The company also highlighted substantial progress in its strategic partnership with Thermo Fisher Scientific, which is expected to support large-scale international commercialization, expanded laboratory distribution, and long-term recurring revenue growth. In Europe, strong performance in Spain, Germany, and Italy was complemented by successful regional healthcare programmes and growing demand for preventive cardiovascular testing. Management expects further growth from expanded guideline adoption, NHS prevention initiatives, new clinical publications, and broader market access. Supported by a strengthened balance sheet following a recent £4.7 million fundraising, Genincode remains focused on scaling its high-margin precision medicine platform, advancing regulatory milestones, and moving towards operational breakeven through revenue growth, commercial partnerships, and increasing global adoption of genetic risk assessment in cardiovascular disease prevention.