**Summary of Proteome Sciences PLC Interim Results for H1 2025**
Proteome Sciences PLC, a specialist provider of contract proteomics services, released its unaudited interim results for the six months ended 30 June 2025. The report highlights both financial performance and strategic developments amidst challenging market conditions.
**Financial Highlights**
**Total Revenues** £1.86 million, a 16% decrease from H1 2024 (£2.22 million).
**Proteomics Services Revenues** £1.07 million, a 289% increase from H1 2024 (£0.37 million), driven by strong performance in Frankfurt and San Diego facilities.
**TMT® Reagent Sales and Royalties** £0.79 million, a 57% decline from H1 2024 (£1.85 million), attributed to reduced demand due to U.S. policy changes and funding cuts.
**Gross Profit:** £0.32 millionup from £0.20 million in H1 2024.
**Adjusted EBITDA** Loss of £1.19 million, slightly improved from a loss of £1.24 million in H1 2024.
**Cash Position** £0.26 million as of 30 June 2025, down from £1.21 million at the end of 2024.
**Operational and Strategic Developments**
**Services Business** Strong rebound in demand, particularly in Frankfurt (2.5x growth) and San Diego, with a growing order book extending into 2026. Notable contracts include a $1.0 million GCLP order from a U.S. biopharma company.
**TMT® and TMTpro™** Short-term impact from U.S. funding cuts and tariffs, but efforts are underway with Thermo Scientific to boost global uptake. Anticipated improvement in demand as the industry adapts.
**DXT Tags** New multiplex tags for plexDIA experiments showing promise, with increased interest and ongoing out-licensing efforts. Trademark obtained and patent filed in September 2025.
**San Diego Facility** Strategically important investment, already showing strong performance and growing order book.
**Challenges and Outlook**
**Market Headwinds** U.S. tariffs, NIH budget cuts, and reduced academic research funding have negatively impacted the life sciences sector, particularly affecting equipment and reagent sales.
**Optimistic Outlook** Despite challenges, the company remains optimistic about future revenue growth, driven by strong services performance, strategic partnerships, and new product developments like DXT tags.
**Executive Chairman’s Commentary**
Christopher Pearce emphasized the resilience of the services business and the potential for future growth, despite short-term headwinds. He highlighted the importance of strategic investments in San Diego and the ongoing collaboration with Thermo Scientific to enhance TMT® and DXT tag adoption globally.
**Conclusion**
Proteome Sciences PLC faces near-term challenges due to external market conditions but demonstrates resilience through its services business and strategic initiatives. The company is well-positioned for future growth, supported by a robust order book, innovative product developments, and expanding global presence.