The kind of results investors like to see
Niox Group spent its year doing the corporate equivalent of hitting the gym and actually getting stronger: revenue rose 17% to £48.7 million, while adjusted EBITDA jumped 21% to £16.7 million. That’s the good stuff — sales up faster than costs, which usually means the business is getting more efficient instead of just running harder on the hamster wheel.
Where the growth came from
The company said research revenue was the real speed demon here, surging 77% to £10.1 million. Clinical revenue also moved up 7% to £38.6 million, which is less fireworks, more steady grind — but steady grind is how you build a durable business. Niox also called out the launch of its next-gen NIOX PRO device and early-stage work on NIOX MyNO, a home-use product that could widen the company’s reach if it gets traction.
Cash matters, especially when the market gets moody
Niox ended the year with £19.9 million in cash and no debt, which gives management some breathing room. Translation: they can keep investing in product development and commercial expansion without immediately asking the market for more money. And after paying a £5.0 million dividend in June 2025, that balance sheet still looks pretty comfy.
Shareholder candy on top
The board also recommended a final dividend of 1.55 pence per share, up from 1.25 pence last year. So if you’re the kind of investor who likes earnings growth plus a little cash back in your pocket, this update checks more than one box.
Big picture: Niox looks like a company that’s growing, generating cash, and still finding room to reward shareholders — not a bad combo in a market that loves to punish mediocrity.