Cyclopharm reports strong first half 2025 revenue growth, driven by US expansion

Cyclopharm Limited reported record sales revenue of $15.42 million for the first half of 2025, a 26% increase from the prior corresponding period. This growth was driven by a doubling of Technegas® sales in the USA to $1.24 million, and a 58% rise in global Third-Party distribution revenue to $7.76 million. The company's gross margin for the period was $8.26 million, up 20%, though the gross margin percentage decreased slightly to 54% due to product mix shifts.

The company is well-positioned for future growth in the US, with 35 Technegas® installations to date and $2.06 million generated in sales since approval, of which $1.24 million is from 2025. Cyclopharm expects to achieve 250-300 US Technegas® installations during the second half of CY2026, leveraging a recurring revenue model from consumables and annual access fees.

Cyclopharm is also progressing its "Beyond PE" strategy, with Technegas® showing potential in chronic respiratory conditions like COPD, asthma, and lung cancer, targeting an addressable market exceeding $1.1 billion. The company reported cash reserves of $12.41 million as of June 30, 2025, with an additional $6.2 million expected from the sale of a stake in a non-core asset.