hVIVO PLC (AIM:HVO) chief executive Yamin ‘Mo’ Khan talked with Proactive's Stephen Gunnion about the company’s unaudited results for the first half of 2025 and its outlook for the remainder of the year.
Khan explained that revenue for the period came in at just over £24 million, supported by a diversified mix of services, therapeutics, and clients. He added that EBITDA of around £3 million was “helped by the postponement and cancellation fees that we recognised in the first half of this year, together with some of the operational efficiencies that we have already put in place and disciplined cost management.” Cash at 30 June 2025 stood at just over £23 million, while the weighted contracted order book was about £40 million.
He noted that the broader CRO industry has faced macroeconomic and sector headwinds, particularly in the vaccine field, which has led to postponements, cancellations, and longer sales cycles. Despite this, Khan said he believes human challenge trials remain highly relevant and could see stronger adoption as drugmakers look to develop medicines faster and at lower cost.
The integration of CRS and Cryo Store has progressed well, delivering cross-selling opportunities and annualised savings. Looking ahead, hVIVO expects to deliver about £47 million in revenue for 2025, with a small single-digit EBITDA loss, and aims to return to growth in 2026.
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