| Metric | Value ($ M) | Q1 FY25 |
|---|---|---|
| Revenue | 0.56 | 180.0% |
| Total Income | 0.56 | 180.0% |
| Expenditure | 4.03 | 21.8% |
| PBT | — | |
| Net Profit | -3.52 | 45.5% |
| OPM | — | |
| NPM | — | |
| EPS | -0.09 | 12.5% |
RenovoRx Reports Record Q1 2026 Revenue, Up 136% Q-o-Q
15 May 2026 · 15 May, 1:52 am
Summary
RenovoRx announced its financial results for the first quarter ended March 31, 2026, reporting a record revenue of $563,000, which is a 136% increase compared to the fourth quarter of 2025. This growth was primarily driven by the expansion of active cancer centers and increased utilization of RenovoCath. The company ended the quarter with $12.4 million in cash, sufficient to fund operations into at least the second half of 2027. RenovoRx is maintaining its full year 2026 revenue guidance of $3 to $4 million.
Key Highlights
- 1
RenovoRx reported a record first quarter in 2026, with revenue increasing by 136% quarter-over-quarter.
- 2
Q1 2026 revenue reached $563,000, exceeding 50% of the total revenue for the entire year of 2025.
- 3
The company's active commercial cancer center customer base expanded to 16, indicating growing adoption of the TAMP therapy platform.
- 4
RenovoRx ended the first quarter with $12.4 million in cash, expected to fund operations into at least the second half of 2027.
- 5
The Phase III TIGeR-PaC trial is advancing toward completion, with full enrollment expected in June 2026.
- 6
The company is reiterating full year 2026 revenue guidance of $3 to $4 million.
Management Comments
Shaun Bagai
We made important strides in the first quarter of 2026 with strong commercial adoption of the TAMP platform enabled by RenovoCath, resulting in record quarterly revenue exceeding 50% of the revenue we generated in all of 2025. We generated Q1 revenue of $563,000, an increase of 136% compared to the fourth quarter of 2025, mainly driven by the growing number of active cancer centers and rising procedural utilization across our existing customer base. Additionally, we ended the quarter with $12.4 million in cash, which, we believe, is sufficient to fund our operations into at least the second half of 2027. With a solid sales pipeline, we are confident in sustaining growth as our business scales. Our commercial momentum is being driven by our focused and scalable expansion strategy into cancer centers. We have grown from 5 active commercial cancer center customers at the beginning of 2025 to 16 today, with 32 additional centers progressing through stages of evaluation, approval, and onboarding. Notably, we are seeing meaningful repeat utilization across our existing centers, which we believe reflects growing physician confidence and clinical utility. As we expand our footprint and deepen utilization, we believe that RenovoRx is building a durable commercial foundation with the potential for predictable, recurring revenue growth. Looking ahead, we remain focused on executing against both our near-term commercial priorities and our long-term clinical objectives. We expect continued revenue growth throughout 2026, supported by ongoing cancer center activations and continued transition of Phase III TIGeR-PaC trial sites into commercial centers after full enrollment is complete. At the same time, TIGeR-PaC remains on track for complete enrollment in June 2026, reinforcing the strength of our dual-track strategy. With a strengthened balance sheet and growing commercial traction, we believe RenovoRx is well positioned to deliver meaningful value creation in the quarters ahead and continue to expand access to life-changing care for patients battling difficult-to-treat cancers.
Informational and educational content only. Not investment advice.