ABL Diagnostics H1FY26 Results: Revenue up 90%, net profit jumps 343%
- Revenue surged 90.0% YoY to €5.415 million in H1FY26
- EBITDA margin expanded to 24.3% from 10.3% a year earlier
- Net income of €1.280 million exceeds full-year FY25 profit by 29.7%
- Free cash declined 6.4% to €853 million amid working capital shifts
- Company maintains €12.265 million annual revenue target for FY26
*this image is generated using AI for illustrative purposes only.
ABL Diagnostics (Euronext: ABLD) reported a 90.0% revenue surge in the first half of FY26, driven by the ramp-up of its UltraGene range and new distribution activities.
The molecular diagnostics firm posted revenue of €5.415 million for the six months ended June 30, 2026, compared to €2.849 million in the same period last year. This performance reflects the integration of Vela Diagnostics and CDL Pharma distribution services alongside historical genotyping activities.
Financial Performance
Operating profitability expanded significantly as fixed costs were absorbed by higher activity levels. EBITDA rose 346.5% year-on-year to €1.315 million, with the margin widening from 10.3% to 24.3%. Operating income (EBIT) turned positive at €1.115 million, reversing an operating loss of €0.066 million recorded in H1FY25.
Net income climbed 343.4% to €1.280 million. This figure already exceeds the company’s full-year FY25 net income of €0.987 million by 29.7%, highlighting accelerated profit generation despite revenue reaching only 77.9% of the previous year’s total.
| Metric | H1FY26 | H1FY25 | Change |
|---|---|---|---|
| Revenue | €5.415 million | €2.849 million | +90.0% |
| EBITDA | €1.315 million | €0.295 million | +346.5% |
| EBITDA Margin | 24.3% | 10.3% | +14.0 pts |
| Net Income | €1.280 million | €0.289 million | +343.4% |
What the Numbers Show
The divergence between revenue growth and cash position warrants attention. While revenue nearly doubled, free cash declined 6.4% to €853 million from €912 million in the prior period. Available cash on the balance sheet fell 35.2% to €853k as of June 30, 2026, down from €1.316 million at year-end 2025. This contraction aligns with working capital movements and investments made during the period, including the transfer of €255k in assets to support the takeover of Texcell France operations.
Strategic Developments
ABL Diagnostics integrated the assets of Texcell France following a Commercial Court approval in July 2026, adding 29 employees to its workforce. The company maintains its FY26 revenue target of €12.265 million, having achieved 44.2% of this goal in the first half. The roadmap relies on continued growth from UltraGene, HIV business units, and international trade network expansion.
Research and development expenses eligible for tax credits totaled €1.150 million, generating an estimated CIR/CII benefit of €345k. The Board approved these half-year financial statements on September 8, 2026, subject to limited review by the statutory auditor.
How will the integration of Texcell France operations impact ABL Diagnostics' operational efficiency and cost structure in the second half of FY26?
What specific strategies is the company employing to reverse the decline in free cash flow despite significant revenue and EBITDA growth?
To what extent will the expansion of the international trade network contribute to achieving the remaining 55.8% of the €12.265 million FY26 revenue target?
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