NIOX Group plc, a medical device company focused on asthma diagnosis, monitoring, and management, released its financial results for the year ended December 31, 2024. The company reported strong financial performance, with a 14% revenue growth to £41.8 million and a 21% increase in adjusted EBITDA to £13.8 million. The total number of NIOX® FeNO tests sold increased by 19% to 6.3 million. The company also returned significant cash to shareholders through a dividend of 1 pence per share and a tender offer totaling £25.2 million. NIOX Group plc also announced a revised capital allocation policy to increase cash returns to shareholders. The companys new NIOX PRO® device is on track for launch in Q4 2025, offering improved ergonomics and connectivity. Additionally, NIOX signed a letter of intent with its sensor manufacturer to invest in equipment and increase manufacturing capacity for the NIOX VERO® sensor. The company expects to incur higher operating costs in 2025, broadly in line with inflation, and anticipates a slight increase in headcount.
| Year | Revenue (£m) | Gross Margin | Total Expenditure | Adjusted EBITDA (£m) | Adjusted EBITDA Margin | Operating Profit (£m) | Profit Before Tax (£m) | Profit for the Year from Discontinued Operations (£m) | Profit for the Financial Year (£m) | Cash at Year End (£m) |
|---|---|---|---|---|---|---|---|---|---|---|
| 2024 | 41.8 | 72% | 16.4 | 13.8 | 33% | 7.7 | 7.8 | 0.3 | 3.7 | 10.9 |
| 2023 | 36.8 | 72% | 15.1 | 11.4 | 31% | 4.6 | 4.1 | 1.2 | 10.7 | 19.9 |