**Summary**
hVIVO plc, a full-service international clinical development partner, reported its final results for 2025, highlighting strategic progress and financial performance. Revenue decreased to £46.8 million from £62.7 million in 2024, with a positive adjusted EBITDA of £1.4 million, down from £16.4 million. The company expanded its capabilities through acquisitions, including two Clinical Research Units from CRS and Cryostore, diversifying its service offerings and therapeutic expertise. These acquisitions contributed £13.1 million in revenue and are expected to be earnings accretive in 2026. hVIVO established four integrated service lines: Consulting, Clinical Trials, Human Challenge Trials, and Laboratories, with a focus on cross-selling opportunities. The company also completed the development of a bacterial laboratory and validated a new hMPV challenge model. Despite macroeconomic challenges, hVIVO expects high single-digit revenue growth in 2026, weighted to the second half, with a strong pipeline of opportunities across all service lines. The companys cash position decreased to £14.3 million, and it has a weighted contracted orderbook of £30 million, reflecting a more diversified revenue base. hVIVOs strategic transformation positions it as a purpose-built, full-service early clinical development partner, aiming to accelerate client pathways to clinical proof-of-concept.