Renalytix expects higher insurance revenue to support future growth

(Alliance News) - Renalytix PLC on Tuesday backed its sales outlook as it reported a narrowed ...

Alliance News 18 March, 2025 | 3:15PM
Email Form Facebook Twitter LinkedIn RSS

(Alliance News) - Renalytix PLC on Tuesday backed its sales outlook as it reported a narrowed loss reflecting a marked drop in costs.

The London-based diagnostics company said its pretax loss narrowed to USD8.6 million in the year to December 31 from USD19.3 million a year prior, despite only a modest rise in revenue to USD1.3 million from USD1.2 million.

The bottom line benefited from a sharp drop in administrative expenses to USD8.0 million in 2024 from USD18.4 million a year before, which the firm put down to "disciplined cost controls".

Renalytix also reported "significant" progress to reduce the overall cash burn rate to USD560,000 from USD710,000 per month by the end of 2025.

The firm reiterated forward guidance on expected revenue and said it is on track to "meet, or potentially exceed" its target of 20% average quarter-to-quarter growth.

Renalytix expects revenue of USD3.2 million in 2025, USD8.5 million in 2026 and USD17.5 million in 2027.

With full Medicare insurance payments beginning last July, commercial insurance reimbursed testing revenue increased 28% over the last year and now accounts for 80% of total testing revenue, the firm said.

Chief Executive James McCullough said: "With Medicare coverage and additional insurance contracts in place this fiscal year, we are now seeing a significantly higher portion of our total revenue coming from commercially insured testing versus clinical study work. We expect this trend to continue during the next reporting period.

"Further, we expect to expand distribution of kidneyintelX.dkd with initiatives from both new insurance payors, care networks and hospital systems this year."

Shares in Renalytix were 2.2% lower at 8.80 pence each in London on Tuesday.

By Jeremy Cutler, Alliance News reporter

Comments and questions to newsroom@alliancenews.com

Copyright 2025 Alliance News Ltd. All Rights Reserved.

Email Form Facebook Twitter LinkedIn RSS

Securities Mentioned in Article

Security Name Price Change (%) Morningstar
Rating
Renalytix PLC 9.00 GBX 0.00 -

About Author

Alliance News

Alliance News provides Morningstar with continuously updating coverage of news affecting listed companies.

© Copyright 2025 Morningstar, Inc. All rights reserved.

Terms of Use        Privacy Policy        Modern Slavery Statement        Cookie Settings        Disclosures