Aliko Scientific, an international life sciences group listed on Euronext Growth Paris under ticker ALIKO, reported a 52.6% increase in total revenue to €1.64 million for the fiscal year ended December 31, 2025, compared to €1.08 million in FY24. The growth was driven by the full-year consolidation of Hospitex International, which was acquired in April 2024, and the progressive commercial deployment of the Group’s integrated oncology diagnostics offering. Trading of shares, suspended since June 15, 2026, pending the publication of the annual report, is expected to resume following this release.

The financial results reflect a strategic shift toward an integrated ecosystem combining Ikonisys’ automated FISH analysis and digital imaging with Hospitex’ liquid-based cytology and sample preparation capabilities. Francesco Trisolini, CEO of Aliko Scientific, stated that 2025 marked a defining stage in transforming the Group into a scalable platform covering the diagnostic pathway from sample preparation to molecular analysis. The company strengthened its balance sheet through approximately €3.87 million in capital transactions during the year, including €2.00 million in cash proceeds and €1.87 million in debt converted into equity.

Financial Performance

Total operating income rose significantly, with net sales increasing 37.3% to €1.39 million from €1.01 million in FY24. Other income also contributed to the top-line growth, rising to €252,284 from €63,973. Despite the revenue surge, the gross margin rate declined slightly from 72.5% to 70%, resulting in a gross margin of €1.15 million compared to €0.78 million previously. Management attributed the margin compression to a higher proportion of revenues from new equipment installations, which carry lower initial margins than recurring consumable and service revenues.

Operating expenses excluding depreciation and amortization decreased by 7.6% to €2.29 million, reflecting disciplined cost control in R&D and general administrative expenses, partly offset by increased commercial spending to support distribution network expansion. Consequently, EBITDA improved substantially, narrowing the loss by 32.9% to €1.14 million from €1.70 million in FY24.

The consolidated net loss widened to €4.20 million from €3.24 million in FY24. This deterioration at the bottom line was primarily driven by a sharp increase in depreciation and amortization expenses, which rose to €2.76 million from €1.35 million. The increase included a non-cash accelerated amortization charge of approximately €2.49 million related to historical capitalized R&D projects for the Ikoniscope platform. With these assets now fully amortized, management expects annual amortization expenses to decrease significantly in FY26, as remaining capitalized assets relate exclusively to Hospitex projects such as Urine24 and CYTOfast Auto.

What the Numbers Show

The divergence between the improving EBITDA performance and the widening net loss highlights the impact of one-time accounting adjustments rather than operational distress. The 32.9% improvement in EBITDA demonstrates effective cost management and revenue scaling from the Hospitex integration. Furthermore, the cash position strengthened dramatically to €1.03 million from just €25,000 in FY24, providing greater liquidity for ongoing operations. The removal of the heavy Ikoniscope amortization burden in future periods should lead to a more favorable alignment between EBITDA and net profit margins, assuming operational execution continues on track.

Strategic Developments

Beyond financial metrics, Aliko Scientific advanced its intellectual property and market access during FY25. Ikonisys secured a US patent for ACTA (Automated Cancer Treatment Assessment), reinforcing its portfolio in automated cancer-cell analysis. Commercially, Hospitex secured public hospital contracts in Italy, including tenders with Gaetano Martino University Hospital, F. Miulli Regional Hospital, and Policlinico di Bari. The Group also launched Urine24 in Italy and signed an exclusive distribution agreement with Menarini Diagnostics for its integrated FISH and cytology portfolio.

Post-reporting period developments include the appointment of Francesco Trisolini as CEO, a distribution agreement for Urine24 with Naturneed, and a strategic memorandum of understanding with Cellay Inc. Additionally, Ikonisys secured a first commercial deployment with Arizona Urology Specialists and signed an MoU with BioBrasil for a proposed joint venture in Brazil focused on FISH probe manufacturing.

Aliko Scientific SA announced that its wholly-owned Italian subsidiary, Hospitex International S.r.l., has signed an agreement with the Jizzakh branch of the Republican Scientific and Practical Centre specialising in oncology and radiology in Uzbekistan to conduct a feasibility study for a national urinary tract cancer screening programme. The collaboration aims to assess the technical, operational, regulatory, financial, and organisational conditions necessary for the potential launch of a pilot screening programme based on the Urine24 model. Subject to the positive conclusion of the study and the completion of required procedures, the parties plan to evaluate a first implementation phase for an estimated value of approximately €1 million.

Francesco Trisolini, Managing Director of Hospitex International, stated that the agreement confirms growing international interest in Urine24 and recognises Aliko Scientific’s expertise in large-scale oncological diagnostic solutions. The decision by the Uzbek Institute of Oncology to utilise this expertise for a national screening programme aligns with the group's strategy to develop accessible cancer diagnostic solutions in international markets.

The feasibility study, on which work has already begun, will include operational workflow definition, laboratory and logistics assessment, legal and regulatory review, financial modelling, and funding-strategy analysis. Hospitex representatives will conduct an in-country mission as part of the assignment. Upon completion, Hospitex will deliver an Operational Project Document to support institutional review and the potential structuring of the next phase.

Urine24 is the screening model developed by Hospitex International to facilitate the early detection of urinary tract cancers through a modular and scalable pathway. The model is adapted for deployment in healthcare systems with varying levels of infrastructure and diagnostic capabilities.

This collaboration follows an institutional visit to Hospitex’s headquarters, organised as part of the Health Study Tour promoted by the Italian Trade Agency (ICE), with the participation of healthcare delegations from Asian countries.

Key Details of the Agreement