Kromek announces Interim Results

Kromek Group plc (AIM: KMK), a leading developer of radiation and bio-detection technology solutions for the advanced imaging and CBRN detection segments, announces its unaudited interim results for the six months ended 31 October 2025.

Financial Highlights

• Revenue increased substantially to £15.0m (H1 2025: £3.7m)

  • Advanced Imaging revenue of £10.8m; revenue of £2.5m excluding Siemens Healthineers contribution, representing a 41% increase on an underlying basis (H1 2025: £1.7m)

  • CBRN Detection revenue more than doubled to £4.3m (H1 2025: £2.0m)

• Gross margin improved to 71.7% (H1 2025: 56.9%)

• Adjusted EBITDA* of £6.0m (H1 2025: £2.3m loss)

• Profit before tax of £3.1m (H1 2025: £5.7m loss)

• Cash and cash equivalents at 31 October 2025 were £1.2m (30 April 2025: £1.7m)

• Secured a revolving credit facility of £6.0m – of which £1.0m had been drawn as at 31 October 2025 – plus a £0.5m asset finance facility to ensure there is sufficient capital to drive further growth

• Board remains confident in the outlook for the year as the business continues to perform in line with market expectations

*A reconciliation of adjusted EBITDA can be found in the Financial Review.

Operational Highlights

Advanced Imaging

• Substantial growth due to delivery under landmark agreements signed in FY 2025 with Siemens Medical Solutions USA, Inc. (“Siemens Healthineers”) to enable the production of cadmium zinc telluride (“CZT”) detectors for single photon emission computed tomography (“SPECT”) application.

• Sustained delivery under collaboration contracts and other component supply agreements, with customers including recognised Tier 1 OEMs, Analogic Corporation and Spectrum Dynamics

• Continued to make good operational and commercialisation progress in its photon-counting computed tomography (“PCCT”) detector development, with the commercialisation programme on track amid accelerating industry-wide adoption of CZT technology

• Excellent results achieved in validation trials with a leading medical clinic headquartered in the US of technology developed under the ultra-low dose molecular breast imaging programme funded by Innovate UK

CBRN Detection

• Growth driven by execution on strategy to secure key government customers and expand distributor network alongside market recovery

• Initial order, worth £1.7m, received under the UK Government’s Radiological Nuclear Detection Framework for the Group’s nuclear security products

• Contract secured with the Defence Science and Technology Laboratory of the UK Ministry of Defence (“MoD”), worth £250k, for the development of novel methods of enhancing the detection of biological agents and incidents

• Received new CBRN Detection orders in the year from customers globally, including from the UK, Europe, the US, Japan, Canada and Australasia

Manufacturing and IP

• Continued to execute on programmes for the expansion of production capacity and process automation, resulting in greater manufacturing productivity and cost efficiency

• Applied for three new patents and had three further patents granted, with the total number of patents held being in excess of 190

Dr Arnab Basu, CEO of Kromek, said: “We are pleased with the strong performance delivered in the first half of the year, with growth achieved across both Advanced Imaging and CBRN Detection. Sales in our CBRN segment more than doubled during the period, reflecting the growing global focus on national security and the increasing adoption of our market-leading technologies. In Advanced Imaging, our underlying business saw an increase in revenue driven by renewed engagement with our customers following the completion of our deal with Siemens Healthineers. We are seeing good progress as our Advanced Imaging customers prepare for the launch of their next-generation scanners, reaffirming the value and relevance of our cutting-edge solutions in the market.

“Looking ahead to the second half of the year, with robust customer engagement and a good order book, we expect the momentum achieved in H1 to continue. As a result, we remain on track to deliver a full-year performance in line with market expectations, supported by focused execution of our strategy and the continued demand for our innovative technologies.”

See the full announcement here