Renalytix PLC on Monday said it is on track to meet financial expectations for financial 2025 and 2026 and it expects to report a slight increase in revenue in the first half.

The London-based diagnostics company said it expects to report revenue of $1.3 million relating to commercial sales of kidneyintelX.dkd, a prognostic test for chronic kidney disease, in the six months to the end of December.

The firm reported revenue of $1.2 million in the first-half of the 2024 financial year.

Renalytix said it ‘remains on track’ to meet expectations for the next two financial years, which assumes an average of 20% quarterly revenue testing volume growth.

The average number of tests ordered per month per sales representative tripled to reach 24 in December from 8 in the previous year, the company said.

Growth was supported by the onboarding of a ‘large New York-based primary care network’ in September.

Renalytix said this provides confidence that growth will continue in the second half. The firm expects further new adopters in 2025.

It will announce its first half results in March.

Renalytix shares were down 7.2% to 10.44 pence in London on Monday morning.

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