8th Sep 2025 15:12
(Alliance News) - Tissue Regenix Group PLC on Monday said sales fell in the first half of 2025 as orders dropped amid economic uncertainty.
The Leeds, England-based regenerative medical devices firm said group revenue decreased by 6.1% to USD13.8 million in the half year to June from USD14.7 million the year prior, driven by a decline in orders from strategic partners due to uncertain economic conditions.
BioRinse sales fell 6.7% to USD9.8 million from USD10.5 million, due to the decline in orders and ongoing delays in obtaining regulatory approval requirements impacting the group's ability to bring in new customers in new markets.
Sales for the dCELL portfolio, which includes DermaPure products, dipped 4% year-on-year from USD4.2 million, due to a decline in orders from its strategic partner.
However, revenue increased by 10% year-on-year from the firm's existing direct distribution network, which continued to drive increased commercial activity through the addition of 32 new distributors in the period.
Tissue Regenix expects to report positive adjusted earnings before interest, tax, depreciation and amortisation for the half year, and remains confident of achieving full year adjusted Ebitda in line with USD1.9 million reported in 2024.
The cash position at June 30 remains "sufficient" to support the business's current organic growth plan and drive growth in 2026, the firm added.
In addition, the company said Chair Jonathan Glenn and Non-Executive Director Trevor Phillips have both resigned from the board, effective from Monday.
Glenn will be replaced as executive chair by Jay LeCoque, effective Monday.
LeCoque said he was "pleased" to join the firm at this "important stage" in its development.
"While today's trading update shows that we have work to do, I am confident in the strength of our people, our technology, and the market opportunities ahead," he added.
LeCoque said an "immediate priority" is to "sharpen our operational and commercial execution, with a clear focus on driving sustainable, long-term earnings growth for our shareholders".
Shares in Tissue Regenix tumbled 17% to 25.00 pence each in London on Monday.
By Jeremy Cutler, Alliance News reporter
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