Yourgene revenue tops £18m amid US expansion

Manchester-based molecular diagnostics firm Yourgene Health plc announced its revenues increased 10% to £18.3 million in the year ended March 31, 2021,  “with Covid-related revenues and strong European NIPT (non-invasive prenatal testing) growth offsetting international pandemic headwinds.”

Yourgene said its gross profit rose 11% to £11.4 million — but it made a “total comprehensive loss” of £12.2 million “reflecting a goodwill impairment charge arising from pandemic-related challenges in Asian markets.”

In the first quarter of its current year, Yourgene said Q1 revenues were over £6 million, up 80% on Q1 of FY20 “driven by Covid-related services and product sales as the UK reopens.”

The Manchester company said its US market penetration continues “with a multi-year licence and supply agreement” for Next Generation Sequencing based reproductive health screening.

Yourgene’s net cash improved to £6.8 million at March 31, 2021, from £2.4 million at March 31, 2020.

In his outlook, Yourgene CEO Lyn Rees said: “As we progress into FY22, Yourgene is a much transformed group with a more substantial global presence and a stronger team in place in North America which is now winning significant contracts with market-leading partners based on the enhanced technologies in our portfolio including the Ranger Technology acquired through Coastal Genomics.  

“The pandemic continues to affect many parts of the world, but we are proud of our role in helping navigate through it and we welcome the reopening of travel and the global economy. 

“We are very much looking forward to reconnecting in person with customers, partners and colleagues across the world, and we firmly believe our investments will better support them and deliver accelerated growth in the years to come.”

 

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