Surgical Posts Loss In H1 With Slight Decline In Revenue

(RTTNews) - Surgical Innovations Group Plc (SUN.L), a medical technology company, reported a marginal decline in revenue and a loss before tax compared to a profit for the six months ended June 30, 2026.

Loss before tax was £0.25 million, compared with a profit before tax of £0.02 million a year earlier.

The company reported total comprehensive loss of £0.25 million, or 0.03 pence per share, while last year it was a profit of £0.02 million, or 0.002 pence per share.

Adjusted EBITDA declined to £0.03 million from an adj. EBITDA of £0.37 million in the prior year.

Revenue for the first half was at £6.02 million, compared with £6.15 million in the first half of 2025. The performance reflected lower sales in Europe, mainly due to the transition between distribution partners, and a modest decline in the U.S. due to tariffs and a distributor warehouse relocation. These pressures were largely offset by growth in Distribution, APAC, OEM and Rest of World revenues.

Cash and cash equivalents totaled at £0.36 million as of June 30, 2026. The company said that it has adequate cash resources and invoice financing facility to continue to operate for the foreseeable future.

For the second half of 2026, Surgical Innovations expects the launch of Logitube Lux in mid-fourth quarter alongside Logi Dissect and Logi Grasp. The company also plans to launch the YelloPort Balloon Port.

Management of Surgical Innovations expects the new products, UK sales investment, and operational cost-down initiatives to support growth and margin improvement, although US tariffs are expected to remain a near-term headwind, noted the company.

SUN.L closed at GBp 0.40 on the London Stock Exchange.