Business
Final Results
Surgical Innovations Group PLC reported final results for the year ended 31 December 2025, with revenues broadly flat at £11.6 million compared to £11.9 million in 2024. While SI Branded products saw an 8% decrease to £5.9 million due to tariff headwinds in the USA and sales challenges in India, Europe demonstrated strong growth of 23% to £2.1 million, and UK distribution revenues increased by 14% to £4.1 million. The company experienced an adjusted EBITDA loss of £0.4 million, an improvement from a £0.05 million profit in 2024, and a net cash inflow from operations of £0.6 million. Underlying gross margins increased to 33.73% from 30.65%, driven by a shift towards Elemental products. The company is focused on cost-down initiatives and operational efficiencies to drive further margin improvement and profitability in 2026, with a positive start to Q1 trading. Disclaimer*
About this update from Surgical Innovations Group Plc
Surgical Innovations Group plc ("Surgical Innovations", the "Company", or the "Group") Final Results Results for the year ended 31 December 2025 Optimising for growth: 2025 as a springboard for future performance Surgical Innovations Group plc (AIM: SUN), the designer, manufacturer and distributor of innovative medical technology for minimally invasive surgery ("MIS"), reports its audited final results for the year ended 31 December 2025 ("FY25"). Financial highlights: · Revenues broadly flat at £11.6m (2024: £11.9m) Ø Overall, SI Branded products decreased 8% to £5.9m (2024: £6.4m), driven by tariff headwinds in the USA and structural sales challenges with our partner in India Ø Positively, Europe demonstrated strong growth of 23% with sales reaching £2.1m in 2025 (2024: £1.7m) driven by the continued resonance of the Group's sustainability messaging, a key differentiator for SI Branded products Ø Encouraging increase in UK distribution revenues by 14% to £4.1m (2024: £3.6m) as strategy to add high value devices to portfolio shows dividends Ø OEM sales experienced a decline of 12% to £1.7m in 2025 (2024: £1.9m) as previously indicated as a result of a strong 2024 which included the clearance of prior-year backorders. This was further impacted by supply constraints relating to a component provided by a key OEM partner which has now been resolved · Underlying gross margins increased by 262 bps to 33.73% (2024: 30.65%) as a result of a change in product mix towards Elemental products · Adjusted EBITDA loss in 2025 of £0.4m (2024: profit of £0.05m) · Adjusted EPS loss of 0.08p per share (2024: 0.07p per share loss) · Net cash inflow from operations amounted to £0.6m (2024: outflow of £0.10m) as a result of strong cash management during period · The Group's closing net cash1 balances as of 31 December 2025 amounted to (£0.3m) (as at 31 December 2024: (£0.3m)) 1 Net cash balances consists of cash at bank, less bank borrowings and invoice financing facilities in use. Commercial and operational highlights: · Focus on working capital management in 2025 positions business well to take advantage of future growth opportunities · ...
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