Imaging Biometrics Ltd (LSE:IBAI, FRA:5Y1) returned to profit in the first half of 2026 after generating higher revenue and making a sharp reduction in administrative costs.
Revenue rose 6% to £416,270 in the six months to June 30, while administrative expenses fell 32% to £325,860 as the medical imaging specialist refocused on its core technologies.
An operating profit of £88,678 was produced, compared with an £89,652 loss a year earlier. Profit after tax was £73,852 against the previous £89,652 loss – an improvement of more than £163,000.
Chief executive Trevor Brown called the return to profit a "decisive first step", but said the priority was to convert clinical progress into faster recurring revenue.
The company's IB Clinic imaging platform gained further clinical validation from a Phase II study involving 146 patients across 33 sites. Its automated biomarker showed the strongest statistically significant association with survival among patients receiving treatment for recurrent glioblastoma, outperforming conventional manual techniques.
Several institutions are moving towards full clinical adoption, the company said, with a number expected to complete the process in the third quarter. Work is also underway to add IB Clinic and QSMetric to GE HealthCare's global ordering and fulfilment systems.
Imaging Biometrics is seeking a partner to advance its gallium maltolate programme for rare paediatric brain cancers.
However, Brown stressed that clinical development remained at an early stage and described meeting the September 2029 deadline for a potentially valuable priority review voucher as "highly unlikely".
He said the Board believes increasing adoption and a growing pipeline "provide a solid foundation for continued growth and progress towards sustainable profitability".
