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SourceBio International: Back with a Bang

SourceBio International (SBI) has made a huge impact on its return to public markets. It reported a 139% rise in fiscal 2020 (FY20) reported revenues to £50.7mln from £21.2mln and underlying earnings (EBITDA) of £14mln, vs £3mln in FY19. Growth was driven largely on its rapid mobilisation of resources to create a new fourth division, infectious disease testing services.

We estimate that the current scale-up provides a peak capacity for up to £9mln revenues per month, prospects for sustained penetration in public and private testing markets, and to cater for evolving testing requirements. Equally, SBI is set to respond to the anticipated tsunami of neglected cases requiring diagnostics, research & development (R&D) support via its Stability Storage segment, and Genomics services, related to non-COVID care once a recovery begins, which should facilitate a turnaround in its other three core divisions.

Quick facts: SourceBio International PLC

Price: 182 GBX

AIM:SBI
Market: AIM
Market Cap: £135.01 m
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What's in the report?

Financial results and forecasts
Growth drivers
Management
Market conditions
Milestones & inflection points

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