25th Jun 2025 13:23
(Alliance News) - Tissue Regenix Group PLC on Wednesday reported a narrower annual loss and record adjusted earnings, as it looks to future growth despite headwinds in parts of the US market.
The Leeds, England-based regenerative medical devices company said its pretax loss narrowed to USD564,000 in 2024 from USD1.9 million in 2023, while revenue rose 8.9% to USD28.6 million from USD26.3 million.
Adjusted earnings before interest, tax, depreciation and amortisation improved to USD1.9 million from USD689,000, driven by stronger sales and tighter cost control.
Loss per share from continuing operations narrowed to 1.20 US cents from 2.67 cents.
Revenue from the BioRinse division rose 4% to USD21.0 million, while dCELL revenue climbed 23% to USD7.6 million. Gross profit increased to USD13.6 million from USD13.0 million.
The company paid no dividend, unchanged from the prior year.
Despite strong growth in core product areas, Tissue Regenix said its amnion wound care business in the US had faced significant challenges due to reimbursement rule changes and pricing pressures. "We expect the wound care business to remain in flux through 2025", the company said, adding that it plans to focus resources on more resilient segments.
Chair Jonathan Glenn said the group had delivered "another successful year," and added: "Our commitment to the 4S strategy and our growth pillars has provided a strong foundation for the business which now continues to deliver year-on-year."
Tissue Regenix said it remains "well-placed" for growth, supported by strategic partnerships, expanded distribution, and capacity enhancements. It added that it is finalising revised plans for a facility expansion in San Antonio, Texas, with construction expected to begin in 2025.
The company also announced that Chief Financial Officer David Cocke plans to retire in 2025 but will remain in his role until a successor is found.
Shares in Tissue Regenix were up 3.3% at 31.50 pence in London on Wednesday afternoon.
By Eva Castanedo, Alliance News reporter
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