Q2 and First Half Year Results ended 30 June 2026

About this update from Cellbxhealth Plc

  CelLBxHealth plc ("CelLBxHealth" or "the Company")   Q2 and First Half Year Results ended 30 June 2026   Q2 revenue increased 100% over Q1 and annualised burn rate reduced by 61%   Guildford, UK and Plymouth Meeting, U.S. - 15 July 2026 - CelLBxHealth plc (AIM: CLBX), a CTC intelligence company specialising in innovative circulating tumour cell (CTC) solutions for use in research, drug development and clinical oncology, announces its unaudited Q2 and the interim results for the six months ended 30 June 2026.   CelLBxHealth Executive Chairman, Jan Groen, commented : "We have created a leaner, more commercially focused business, strengthened our strategic partnerships and the strong growth in Q2 revenue is an early sign of the successful implementation of our revised commercial strategy. Our unique live CTC platform addresses an important unmet clinical need, and we remain focused on disciplined execution as we convert this growing opportunity into sustainable revenue growth."   Financial Highlights ● Q2 revenue of £0.4 million represents a 100% increase over Q1 2026 (£0.2 million) ● H1 revenue of £0.6 million (H1 2025: £0.8 million) ● Gross profit of £0.4 million (H1 2025: £0.5 million) with gross margin of 61% (H1 2025: 59%) ● Operating loss significantly reduced to £2.7 million (H1 2025: £9.7 million) ● Loss after tax of £2.7 million (H1 2025: £9.3 million) ● Restructuring programme substantially delivered, reducing the annualised operating cash cost base to approximately £6.3 million and materially cutting underlying cash burn, despite £1.5 million+ of restructuring cash payments ● Cash and cash equivalents of £2.9 million at 30 June 2026 (30 June 2025: £5.3 million) with an average monthly cash burn moving forward of between £0.3 million and £0.4 million   Operational Highlights ● Commercial momentum strengthened during the period, with revenue increasing significantly from Q1 to Q2 ● Master Services Agreement now in place with AstraZeneca ● Collaboration with AdventHealth for two clinical studies evaluating CTCs to improve cancer care ● Research collaboration signed with The Royal Marsden NHS Foundation Trust evaluating CTC-DNA profiling in advanced non-small cell lung cancer where ctDNA testing is uninformative ● Strategic collaborations progressed with QIAGEN, Roche Diagnostics, Illumina and Myriad ● Sub-lease on US facility effective 1 May 2026, further reducing operating costs   Post closing events ● On 6 July 2026 the Company and Peter Collins, Chief Executive Officer, decided it is in the best interest of both parties to part ways for Peter to pursue other opportunities. Jan Groen continues as Executive Chairman while the Board conducts the recruitment process for a new Chief Executive Officer. The Board remains confident in the continuity of the Company's strategy and execution during this transition   Outlook ● FY2026 revenues remain expected to be at least £2.1 million, representing growth of at least 50% over FY2025 ● Significantly reduced operating cost base and improved cash utilisation provide cash runway into Q2 2027 ● The Board believes the strategic actions implemented during late 2025 into 2026 established a leaner, more focused and commercially aligned platform for future growth ● Commercial weighted pipeline of £3.5 million continues to build, supported by increasing engagement from pharmaceutical and diagnostic partners and strategic collaborations across key markets ● On the back of further revenue growth, the Board expects to be EBITDA positive in 2028   For further information:   CelLBxHealth plc Jan Groen, Executive Chairman [email protected] via Walbrook PR   Cavendish (NOMAD and Broker) Geoff Nash / Isaac Hooper (Corporate Finance) Sunila de Silva (Corporate Broking) Nigel Birks (Life Science Specialist Sales)   +44 (0)20 7220 0500   Walbrook PR (Investor and Media Relations) Paul McManus / Alice Woodings Tel: +44 (0)20 7933 8780 or [email protected] Mob: +44 (0)7980 541 893 / +44 (0) 7407 804 654   Notes for editors     About CelLBxHealth plc CelLBxHealth plc is a CTC intelligence company specialising in innovative circulating tumour cell (CTC) solutions for use in research, drug development and clinical oncology. Its patent-protected Parsortix® platform harvests CTCs from blood and can be integrated with existing laboratory instruments for comprehensive downstream analysis - including whole-cell imaging, proteomic profiling and full genomic workflows.   Commercial focus spans three revenue streams - Product Sales of the Parsortix platform and consumables through CRO and clinical lab partnerships, Laboratory Services including clinical trial support and assay development delivered from a GCLP-compliant UK facility, and Lab Developed Tests (LDTs), pursued through a combination of strategic partnerships and in-house development.   For more information, visit  https://cellbxhealth.com/ .     CELLBXHEALTH PLC CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME FOR THE SIX MONTHS ENDED 30 JUNE 2026     Period ended 30 June 2026 (Unaudited)   Period ended 30 June 2025 (Unaudited) Year ended 31 December 2025 (Audited) Note £'000 £'000 £'000 Revenue 597 796 1,351 Cost of sales (233)        (330) (519) Gross profit 364 466 832 Other operating income 2 169    - 956 Operating costs (3,184)   (10,143) (21,037) Operating loss (2,651) (9,677) (19,249) Finance income 50 96 126 Finance costs (68)       (151) (285) Loss before tax (2,669) (9,732) (19,408) Tax (charge)/credit 2 (32)          464 (101) Loss for the period (2,701) (9,268) (19,509)     Other comprehensive income/(loss) Items that may be subsequently reclassified to profit or loss   Exchange differences on translating foreign operations (370)      2,107 1,625 Other comprehensive income/(loss) (370)      2,107 1,625   Total comprehensive loss for the period   (3,071) (7,161)   (17,884)     Loss per share attributable to owners of the parent   Basic and Diluted (pence per share) 3 (0.24) (2.87) (5.51) All activity arose from continuing operations.       CELLBXHEALTH PLC CONSOLIDATED STATEMENT OF FINANCIAL POSITION AS AT 30 JUNE 2026       30 June 2026 (Unaudited) 30 June 2025 (Unaudited) 31 December 2025 (Audited) Note £'000 £'000 £'000 Assets   Non-current assets     Intangible assets   270 2,631 390 Property, plant and equipment   801 2,137 1,065 Right-of-use assets   555 3,448 740 Total non-current assets   1,626 8,216 2,195     Current assets     Inventories   1,140 1,573 1,296 Trade and other receivables   2,167 1,681 1,744 Taxation   - 1,344 - Cash and cash equivalents   2,875 5,270 7,349 Total current assets   6,182 9,868 10,389       Total assets   7,808 18,084 12,584 Liabilities   Non-current liabilities     Lease liabilities   (884) (2,811) (1,000) Provisions   (380) (373) (618) Trade and other payables   - (56) - Total non-current liabilities   (1,264) (3,240) (1,618) Current liabilities     Lease liabilities   (427) (855) (817) Provisions   (437) (94) (434) Corporation tax payable   (213) - (181) Trade and other payables   (1,357) (2,201) (2,338) Total current liabilities   (2,434) (3,150) (3,770)       Total liabilities   (3,698) (6,390) (5,388) Net assets   4,110 11,694 7,196 Equity     Share capital 4 32,673 32,264 32,673 Share premium   125,299 118,362 125,299 Share-based payments reserve   411 3,925 2,582 Other reserve   2,553 2,553 2,553 Translation reserve   (3,990) (3,138) (3,620) Accumulated losses   (152,836) (142,170) (152,157) ESOT shares   - (102) (134)   Total equity     4,110   11,694   7,196 CELLBXHEALTH PLC CONSOLIDATED STATEMENT OF CASH FLOWS FOR THE SIX MONTHS ENDED 30 JUNE 2026     30 June 2026 (Unaudited) 30 June 2025 (Unaudited) 31 December 2025 (Audited) £'000 £'000 £'000 Operating activities     Loss before tax (2,669) (9,732) (19,408) Adjustments for:   Depreciation and impairment of property, plant and equipment 293 413 1,588 Depreciation and impairment of right-of-use assets 267 409 1,756 Loss on disposal of property, plant and equipment - - 56 Gain on lease termination (258) - - Gain on reassessment of lease term on right-of-use assets - - (54) Amortisation and impairment of intangible assets 122 28 2,279 Share-based payment charge/(credit) (15) 414 (752) Exchange differences (354) 2,142 1,634 R&D tax credit income (169) - (956) Net finance (income)/costs 18 55 159 Operating cash flows before movements in working capital (2,765) (6,271) (13,698) (Increase)/decrease in inventories 150 30 206 (Increase)/decrease in trade and other receivables (256) 346 1,238 Increase/(decrease) in trade and other payables (882) (53) 79 Increase/(decrease) in provisions (245) (86) 515 Operating cash flows (3,998) (6,034) (11,660) Research and development tax credits received - 1,436 2,397 Net cash from/(used in) operating activities (3,998) (4,598) (9,263) Investing activities   Purchase of property, plant and equipment (33) (87) (216) Purchase of intangible assets 8 (30) (33) Proceeds on disposal of property, plant and equipment 3 - - Interest received 50 96 126 Net cash from/(used in) investing activities 28 (21) (123) Financing activities   Net proceeds from issue of share capital - placing (182) - 7,623 Shares acquired by ESOT - - (32) Principal elements of lease payments (271) (555) (1,037) Interest elements of lease payments (55) (108) (263) Net cash from/(used in) financing activities (508) (663) 6,291 Net increase/(decrease) in cash and cash equivalents   (4,478)   (5,282)   (3,095) Cash and cash equivalents at start of period 7,349 10,425 10,425 Effect of exchange rate fluctuations 4 127 19 Cash and cash equivalents at end of period 2,875 5,270 7,349   CELLBXHEALTH PLC CONSOLIDATED STATEMENT OF CHANGES IN EQUITY FOR THE SIX MONTHS ENDED 30 JUNE 2026     ------------------------------------------ Equity attributable to owners of the parent -------------------------     Share Share Share-based payments Other Translation Accumulated ESOT   Total   capital premium reserve reserve reserve losses shares equity   £'000 £'000 £'000 £'000 £'000 £'000 £'000 £'000 At 1 January 2025 32,264 118,362 3,754 2,553 (5,245) (133,145) (102) 18,441 For the period to 30 June 2025 Consolidated loss (9,268) (9,268) Other comprehensive income/(loss) 2,107 2,107 Total comprehensive income/(loss) 2,107 (9,268) (7,161) Share-based payment expense 414 414 Released on forfeiture/lapse (243) 243 - Total transactions with owners   171   -   -   243   -   414   At 30 June 2025 (Unaudited) 32,264 118,362 3,925 2,553 (3,138) (142,170) (102) 11,694 For the period to 31 December 2025 Consolidated loss (10,241) (10,241) Other comprehensive income/(loss) (482) (482) Total comprehensive income/(loss)     (482) (10,241)   (10,723) Issue of shares (net of costs) 409 7,014 7,423 Shares acquired by ESOT (32) (32) Share-based payment credit (1,166) (1,166) Equity-settled share-based payment - broker warrants (77) 77 - Released on forfeiture/lapse (254) 254 - Total transactions with owners   409   6,937   (1,343)   -   -   254   (32)   6,225   At 31 December 2025 (Audited) 32,673 125,299 2,582 2,553 (3,620) (152,157) (134) 7,196                   For the period to 30 June 2026                 Consolidated loss           (2,701)   (2,701) Other comprehensive income/(loss)         (370)     (370) Total comprehensive income/(loss)         (370) (2,701)   (3,071) Settlement of employee share awards using ESOT shares (134)     134 - Share-based payment credit (15)       (15) Released on exercise (1,529)     1,529 - Released on forfeiture/lapse (493)     493 - Total transactions with owners   -   -   (2,171)   -   -   2,022   134   (15)   At 30 June 2026 (Unaudited) 32,673 125,299 411 2,553 (3,990) (152,836) - 4,110 CELLBXHEALTH PLC NOTES TO THE CONDENSED INTERIM FINANCIAL INFORMATION FOR THE PERIOD ENDED 30 JUNE 2026     1. Preliminary announcement The Condensed Interim Financial Information is the unaudited interim consolidated financial information (the "Condensed Interim Financial Information") of CelLBxHealth plc, a company incorporated and domiciled in Great Britain and its subsidiaries (together referred to as the "Group") for the six-month period ended 30 June 2026 (the "interim period").   The Condensed Interim Financial Information should be read in conjunction with the Financial Statements of the Group for the year ended 31 December 2025, which have been prepared in accordance with UK-adopted international accounting standards. New and revised accounting standards and interpretations that became effective in the period did not have or are not expected to have a significant impact on the Group. Where necessary, comparative information has been reclassified or expanded from the previously reported Condensed Interim Financial Information to take into account any presentational changes which were made in the Annual Report and Financial Statements to 31 December 2025 and which may be made in the Annual Report and Financial Statements to 31 December 2026.   The accounting policies used in the preparation of the Condensed Interim Financial Information for the six months ended 30 June 2026 are in accordance with UK-adopted accounting standards and are consistent with those which will be adopted in the Financial Statements for the year ended 31 December 2026. While the Condensed Interim Financial Information has been prepared in accordance with the recognition and measurement criteria of UK-adopted international accounting standards, these Financial Statements do not contain sufficient information to comply with UK-adopted international accounting standards.   The Condensed Interim Financial Information does not constitute statutory financial statements as defined in section 434 of the Companies Act 2006 and is unaudited and has not been reviewed. The comparative information for the six months ended 30 June 2025 is also unaudited. The comparative figures for the year ended 31 December 2025 have been extracted from the Group Financial Statements as filed with the Registrar of Companies. The report of the auditors on those Financial Statements was unqualified and did not contain statements under sections 498(2) or (3) of the Companies Act 2006, although it included a material uncertainty related to going concern. The Directors have updated their assessment of going concern for the six months ended 30 June 2026 and their conclusions are set out below.   The Condensed Interim Financial Information was approved by the Board and authorised for issue on 14 July 2026.   Going concern The Financial Statements have been prepared on a going concern basis. In adopting this basis, the Directors have assessed the Group's ability to continue as a going concern for a period of at least 12 months from the date of approval of these Financial Statements, taking into account all available information.   The Group's business activities, together with the factors likely to affect its future development, performance and financial position, are set out in the Executive Chairman's letter and the Chief Executive's Statement.   At 30 June 2026, the Group held cash and cash equivalents of £2.9 million. The Group funds its operations through existing cash reserves, revenues generated across its three commercial pillars, and through equity financing where appropriate.   The Directors have prepared a detailed monthly forecast to 31 December 2027, incorporating severe but plausible downside scenarios. These scenarios assume a material reduction in forecast revenues, delays in the conversion of pipeline opportunities, and limited access to external financing, with discretionary expenditure reductions applied to partially offset the impact. The Group anticipates revenue growth in FY2026, weighted towards the second half of the year, with a return to material revenue growth in FY2027 dependent on the successful and timely conversion of a number of significant commercial opportunities. Based on current cash resources, the Group has funding into Q2 2027.   The Directors believe several potential funding sources are available to the Group, including revenues, commercial milestones, licensing income, and debt or equity financing. However, based on current forecasts, the Group will require additional funding to continue operations beyond Q2 2027. There can be no certainty that such funding will be obtained on acceptable terms, or at all.   The Group's forecasts are dependent upon the successful and timely conversion of a number of significant commercial opportunities into revenue, the timing and extent of which remain uncertain. A significant proportion of forecast revenues is concentrated within a relatively small number of opportunities and customers, and many pipeline opportunities remain at proposal stage. There can be no certainty that forecast revenues will be achieved in line with management's expectations. These conditions, together with the requirement for additional funding beyond Q2 2027, represent a material uncertainty that may cast significant doubt on the Group's ability to continue as a going concern. Notwithstanding this, the Directors have a reasonable expectation that the Group will be able to secure the necessary funding and meet its liabilities as they fall due. As a result, the Financial Statements continue to be prepared on a going concern basis and do not include any adjustments that would result if the Group were unable to continue as a going concern.   Critical accounting estimates and judgements The preparation of the Financial Statements requires management to make judgements and estimates that affect the application of accounting policies and the reported amounts of assets, liabilities, income and expenses. There were no areas of significant judgement or key sources of estimation uncertainty in preparing these Financial Statements.   2. Tax The Group undertakes research and development activities. During the period the Group recognised income under the UK merged Research and Development tax relief scheme within Other operating income. The comparative period reflects claims made under the former SME R&D tax relief regime, which were presented within taxation.   3. Loss per share attributable to owners of the parent Basic and diluted loss per share is calculated by dividing the loss attributable to owners of the parent of £2.7 million (six months to 30 June 2025: loss £9.3 million, year ended 31 December 2025: loss £19.5 million) by the weighted average number of ordinary shares in issue during the period.   As the Group reported a loss in the current and comparative periods, potentially dilutive share options have not been included in the calculation of diluted loss per share as they are anti-dilutive. As a result, diluted loss per share is equal to basic loss per share.   The weighted average number of ordinary shares used in the calculation was 1,136,767,299 (six months to 30 June 2025: 322,528,409 ; year ended 31 December 2025: 353,834,856).   4. Share capital The Company has one class of ordinary shares which carry no right to fixed income. The deferred shares carry no voting rights and have restricted rights to dividends and on a return of capital as set out in the Company's Articles of Association.   At 30 June 2026, the Company had 1,139,402,658 ordinary shares of £0.0005 each and 322,641,668 deferred shares of £0.0995 each in issue and fully paid.   5. Shareholder communications This announcement is being sent to all shareholders on the register at 15 July 2026. Copies of this announcement are posted on the Company's website https://cellbxhealth.com/ and are available from the Company's registered office: 10 Nugent Road, Surrey Research Park, Guildford, Surrey, GU2 7AF.

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