| Metric | Value ($ M) | Q1 FY26 | Q2 FY25 |
|---|---|---|---|
| Revenue | 0.40 | 59.6% | 2.4% |
| Total Income | 0.40 | 59.6% | 2.4% |
| Expenditure | 4.55 | 28.1% | 32.1% |
| PBT | — | ||
| Net Profit | -7.33 | 10.1% | 16.7% |
| OPM | — | ||
| NPM | — | ||
| EPS | — |
VolitionRx Announces Q2 2026 Financial Results and Business Update
14 Aug 2026 · 14 Aug, 2:15 am
Summary
VolitionRx Limited reported financial results for the second quarter of 2026, with first half revenue growing 112% year-over-year to $1.4 million, while Q2 revenue remained stable at approximately $0.4 million compared to the prior year. The company successfully reduced operating expenses by 32% in Q2 2026 and saw a 34% decrease in operating loss to $4.2 million. Management highlighted significant progress across product pillars, ongoing discussions for licensing agreements with major diagnostic companies, and the potential for a $5 million milestone payment related to a feline lymphoma assay publication.
Key Highlights
- 1
First half of 2026 revenue reached $1.4 million, representing 112% growth over the first half of 2025.
- 2
Revenue for the second quarter of 2026 was approximately $0.4 million, consistent with the same period in 2025.
- 3
Operating expenses in the second quarter of 2026 were reduced by 32% compared to the same quarter in 2025, reflecting the company's cost reduction program.
- 4
The operating loss for the second quarter of 2026 was $4.2 million, a decrease of 34% from the comparable quarter in 2025.
- 5
Net cash used in operating activities for the second quarter of 2026 was $5.2 million, an 18% reduction compared to the same quarter in 2025.
- 6
The company announced the submission for peer review of a clinical manuscript for its Nu.Q® Vet feline prototype assay, which is expected to unlock a $5 million contractual milestone payment upon publication.
- 7
VolitionRx is in discussions with over a dozen leading diagnostic and liquid biopsy companies, aiming to secure licensing agreements and other arrangements for upfront milestone payments, royalties, and recurring revenue.
Management Comments
Cameron Reynolds
We have made strong progress across all of our product pillars throughout 2026 to date. We are currently in discussions, including undertaking technology evaluations, with more than a dozen of the world’s leading diagnostic and liquid biopsy companies where our goal is to enter into licensing agreements and other arrangements that will bring revenue in the form of up front milestone payments, royalties and/or other recurring revenue. Discussions are at various stages of the negotiation process across our different pillars with our laser focus on executing further licensing agreements. We announced our collaboration with Sysmex Corporation, a global leader in the field of in vitro diagnostics for hemostasis and thrombosis, among other diseases, where Neutrophil Extracellular Traps ("NETS") play such an important role. In May, we announced the submission for peer review of a clinical manuscript reporting the high accuracy of our Nu.Q® Vet feline prototype assay in detecting lymphoma in cats, our third species. The publication of this study in a peer reviewed journal is expected subsequently to unlock a $5 million contractual milestone payment. The feline test could greatly expand the market of our Nu.Q® Vet platform. We are working with our long-term collaborators at the Hospices Civils de Lyon, one of Europe's leading cancer centers, on the reimbursement submission for Nu.Q® Lung Cancer. Reimbursement is the last step on the path to the first use of Nu.Q® in routine clinical practice, an exciting prospect which is core to Volition's mission, using our tests to help save lives. We continue to add to our significant data rooms with published, submitted and confidential data across our product pillars. Most notably, we recently announced the publication of our first peer-reviewed paper demonstrating our breakthrough Capture-Seq™ liquid biopsy technology. The Total Addressable Markets1 (TAMs) for our technologies, on an annualized basis, are multi-billion-dollar opportunities (estimated at more than $27 billion across all of our product pillars), not only for Volition, but for our licensing partners. Volition has made strong progress, both clinically and commercially, and our technology is now poised to be used very widely in a broad range of clinical utilities.
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