hVIVO plc (LON:HVO), a fast-growing specialist contract research organisation (CRO) and world leader in testing infectious and respiratory disease products using human challenge clinical trials, has provided a trading update for the six-month period ended 30 June 2024.
Highlights
| • | Revenue of £35.6 million, 30.6% higher than H1 2023 (£27.3 million). The Board remains confident in delivering on market expectations for the full year |
| • | EBITDA margin of c.24% (H1 2023: 19.1%) |
| • | Cash of £37.1 million as at 30 June 2024 (30 June 2023: £31.3 million) |
| • | Weighted contracted orderbook of £71 million as at 30 June 2024 (30 June 2023: £78 million), post-delivery of a record £35.6 million in revenues in H1 2024 |
| • | Quarantine facility in Canary Wharf now fully operational providing the foundation and capacity for future growth |
| • | Full year revenue guidance of £62 million reaffirmed with full year EBITDA margins anticipated to be at the upper end of market expectations |
Strong operational delivery drives revenue and margin growth
The Group expects to report first half revenues of £35.6 million representing 30.6% revenue growth on H1 2023. This was driven by exceptional operational delivery across the Group, particularly a record number of volunteer inoculations across multiple studies and a variety of challenge models running simultaneously.
