| Metric | Value ($ M) | Q1 FY26 | Q2 FY25 |
|---|---|---|---|
| Revenue | 0.91 | 62.5% | 116.7% |
| Total Income | 0.91 | 62.5% | 116.7% |
| Expenditure | 4.26 | 5.7% | 37.4% |
| PBT | — | ||
| Net Profit | -2.91 | 17.3% | 0.3% |
| OPM | — | ||
| NPM | — | ||
| EPS | -0.06 | 33.3% | 25.0% |
RenovoRx Reports Record Q2 2026 Results, Driven by Accelerating Commercial Adoption and 61% Sequential Quarterly Revenue Growth
14 Aug 2026 · 14 Aug, 1:44 am
Summary
RenovoRx announced record second quarter 2026 results, driven by strong commercial adoption and a 61% sequential quarterly revenue growth to $909,000. The company is raising its full-year 2026 revenue guidance to $3.75 million - $4.25 million, reflecting confidence in continued growth. Key business updates include the first commercial use of RenovoCath in a sarcoma patient, expanding its application beyond pancreatic cancer, and the full enrollment of the Phase III TIGeR-PaC trial, with data expected in the second half of 2027. Management expressed optimism about exceeding original full-year forecasts due to increasing commercial cancer center customers and repeat utilization.
Key Highlights
- 1
RenovoRx reported record quarterly revenue of $909,000 for the second quarter of 2026, an increase of approximately 61% compared to the first quarter of 2026 and approximately 115% compared to the second quarter of 2025.
- 2
The company is raising its 2026 annual revenue guidance to a range of $3.75 million to $4.25 million, implying year-over-year revenue growth of approximately 241% to 286%.
- 3
The first treatment delivery with RenovoCath® in a patient with sarcoma in a clinical setting marks an expansion of the device's application to solid tumors beyond pancreatic cancer.
- 4
The Phase III TIGeR-PaC Trial has reached full enrollment, with completion expected in the first half of 2027 and topline data readout anticipated in the second half of 2027.
- 5
Gross profit for the second quarter of 2026 was $766,000, representing a gross margin of approximately 84%, consistent with the prior quarter.
- 6
RenovoRx ended the second quarter with 21 active commercial cancer center customers, an increase of more than 30% from the 16 centers reported at the time of the first quarter earnings call.
Management Comments
Shaun Bagai
In the second quarter of 2026, we delivered record revenue and executed on all three of the milestones we set for the business: revenue growth with another record revenue quarter, commercial momentum evidenced by several cancer center activations, and expansion of the application of our technology beyond locally advanced pancreatic cancer (LAPC). We generated quarterly revenue of $909,000, an increase of approximately 61% compared to the first quarter of 2026, and approximately 115% compared to the second quarter of 2025. Our strong first half performance gives us confidence that our second half revenue will exceed our original full year forecast. This outlook is driven by more active commercial cancer center customers, more patients treated via procedures with RenovoCath, and repeat ordering across our existing customer base. We ended the second quarter with 21 active commercial cancer center customers, an increase of more than 30% from the 16 centers reported at the time of our first quarter earnings call, and expanded our total commercial pipeline to 63 centers, including 42 additional centers progressing through evaluation, approval, and activation. We continue to see meaningful repeat utilization across our existing customer base, and for the first time, a treating physician chose RenovoCath to deliver therapy to a patient with a solid tumor beyond pancreatic cancer, marking an important, physician-driven expansion of the clinical application of our TAMP platform. Looking ahead, we remain focused on executing against both our near-term commercial priorities and our long-term clinical objectives. Based on current trends, we expect third quarter revenue to surpass second-quarter revenue and set another record. We remain on track to meet or exceed our target of 36 active commercial cancer center customers by year end 2026. The recently announced enrollment completion of our Phase III TIGeR-PaC trial positions the majority of our trial sites to also transition to commercial use in the second half of the year. Reflecting our strong first half performance, we are raising and tightening the range for our full year revenue guidance. In short, we believe RenovoRx is building a durable, capital-efficient commercial business. Management believe that reaching a quarterly revenue run-rate of approximately $5 million would position RenovoRx at cash-flow break-even, and based on our current trajectory, our internal plan anticipates achieving break-even operations in the fourth quarter of 2027.
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