Hvivo Plc · LSE:HVO
Hvivo — FY2025 Earnings Presentation
19 slides from Hvivo's earnings presentation, Apr 15, 2026
Slide 1: Annual Results 2025
Annual Results 2025 April 2026 1
Slide 2: Disclaimer
Disclaimer The contents of this presentation and the information which you are given at the time of the presentation have not been approved by an authorised person within the meaning of the Financial Services and Markets Act 2000 (the “Act”). Reliance on this presentation for the purpose of engaging
Slide 3: 2025: a year of strong strategic progress
2025: a year of strong strategic progress Strategic Objectives Strategic Execution o Maintain global leadership in HCTs Diversification through acquisition & Established four integrated service o Diversify revenues beyond HCTs integration of CRS and Cryostore lines o Build an end-to-end integrated e
Slide 4: Stephen Pinkerton, Chief Financial Officer
Stephen Pinkerton Chief Financial Officer 4
Slide 5: 2025: Financial Highlights
2025: Financial Highlights o Revenue o HCT faced macro sector headwinds in infectious diseases o Cancellation fees offered some protection £46.8m £1.4m o North America revenue was 58% lower Revenue Adjusted EBITDA FY24: £62.7 m 2024: £16.4 m o Adjusted EBITDA profit o Net of acquisition losses of £1
Slide 6: Revenue FY24 Versus FY25
Revenue FY24 Versus FY25 70.0 65.0 62.7 60.0 Acquisitions 55.0 50.0 £'m 0.8 46.8 12.3 45.0 40.0 35.0 30.0 25.0 Revenue FY24 Facilities HCT Clinical Trials H Labs Consultancy Clinical Trials CRS Labs Cryostore Revenue FY25 6
Slide 7: Cash utilisation
Cash utilisation 50.0 Organic cash spend £15.4m 45.0 44.2 Acquisitions cash spend £14.5m 40.0 35.0 1.0 (10.4) (1.4) 30.0 (4.6) £m 25.0 (4.0) 20.0 15.0 14.3 (10.5) 10.0 5.0 Generated from Net interest received Generated from Cash 31 Dec 2025 Cash 31 Dec 2024 operations Purchase of PPE Financing Activ
Slide 8: Yamin 'Mo' Khan, Chief Executive Officer
Yamin ‘Mo’ Khan Chief Executive Officer 8
Slide 9: A Purpose-Built, Full-Service Clinical Development Partner
A Purpose-Built, Full-Service Clinical Development Partner Four tightly integrated service lines hVIVO Consultancy hVIVO Clinical Trials hVIVO Human Challenge hVIVO Laboratories Trials o Non-Clinical, Clinical, CMC, o Phase I-II CRO Services o Standalone Laboratory PK o Phase II-III Site Services o
Slide 10: Scale and Breadth of our Clinical Research Network
Scale and Breadth of our Clinical Research Network hVIVO LONDON, hVIVO LONDON hVIVO MANNHEIM hVIVO KIEL Berlin [Partner] Outpatient Facilities Quarantine Unit, Clinical Research Clinical Research Clinical Research Laboratory Unit Unit Unit Whitechapel, Canary Wharf, Mannheim, near Kiel, near Hamburg
Slide 11: Strengthening the Human Challenge Trial service line
Strengthening the Human Challenge Trial service line o Combo Phase I and HCT (Phase II) service provision o Focus on anti-virals o Contemporary influenza models launched o World’s only contemporary hMPV model o Increase utility of Next Generation Sequencing in HCTs o Potential new indications: asthm
Slide 12: Growth Initiative 1: Diversification into cardiometabolic research
Growth Initiative 1: Diversification into cardiometabolic research o Capture growing demand for early-stage expertise o Launch Phase I/II combined protocol trials 25 5 10 Trials Since 2021 Ongoing Trials 2025 CRS Contract o Consolidate preferred providerships Wins o Expanding beyond obesity into com
Slide 13: Growth Initiative 2: Broaden respiratory portfolio beyond viral disease
Growth Initiative 2: Broaden respiratory portfolio beyond viral disease o Existing scientific & clinical expertise o Re-purposing of existing facilities o Large patient database 83k+ 4+ Asthmatic patients in Non-HCT o On-site laboratory FluCamp database respiratory studies to date o Strong network o
Slide 14: Growth Initiative 3: Laboratory services - scalable, recurring revenue stream
Growth Initiative 3: Laboratory services - scalable, recurring revenue stream o Drive client retention: from pre-clinical to higher-value later- stage trials & long-term biostorage o Group-wide cross-selling opportunities o Key new technologies added, expanding our capabilities: • Droplet digital PC
Slide 15: End-to-end Development Platform
End-to-end Development Platform Case Study – Cidara Biotech on Journey from Pre-Clinical to Phase III CMC Delivered critical data that Infectious disease Human Consulting enabled its progression from early vaccine candidate Challenge with Potential proof-of-concept to late-stage Trial 2023 trials hV
Slide 16: Market - 'cautious optimism'
Market - ‘cautious optimism’ o Macro-economic challenges ongoing Biopharma M&A Spend by Therapeutic Area4 o Cautious optimism and selective capital deployment Oncology US$146bn o M&A momentum continuing into ’26, driven by CNS/Neurology US$83bn >$300B patent cliffs (2025-20301) *Immunology and infla
Slide 17: Diversified orderbook
Diversified orderbook* o Clinical Trials orderbook up year-on-year • Stronger contract conversion rate £43.5m • Preferred providers – 2 mid-sized pharma o Non-HCT early phase trials – shorter sales cycles, faster conduct £30.0m o HCT service line starting to re-build • Previous cancellations contrib
Slide 18: New Proposals and Pipeline Growth
New Proposals and Pipeline Growth Proposals Submitted by Value o HCT - strong growth in RFPs in 2025 vs 2024 (year end) o Other services in line vs 2024 o 50% increase in Q1 2026 RFP's vs Q1 2025 o Multi-service opportunities on the increase Pipeline by Value Pipeline by Value Pipeline by Value By R
Slide 19: Well-positioned for sustainable growth
Well-positioned for sustainable growth o Diversified, integrated business model now fully operational across Human Challenge Trials, Early-Phase Clinical Trials, Laboratory and Consulting services o CRS integration complete, broadening therapeutic exposure and reducing historic reliance on infectiou