Kromek reports record breaking revenues

Sedgefield-based technology firm, Kromek, has announced a revenue increase of 12 per cent to £19.4 million, up from £17.3 million in the previous year.

Gross margins improved to 55.2 per cent, compared to 51.6 per cent in 2023, alongside a turnaround in adjusted EBITDA, which reached £3.1 million from a £1 million loss the prior year.

The firm also reduced its pre-tax loss down to £3.5 million from £7.3 million.

Dr Arnab Basu, Kromek chief executive, said: “This has been a pivotal 12 months for Kromek where we recorded a third consecutive year of revenue growth and delivered on all our KPIs.

“We achieved record revenues, more than halved our losses and our positive adjusted EBITDA exceeded market expectations.

“We have actively enhanced our operational efficiencies and seen excellent progress in both advanced imaging and CBRN detection where demand remains strong across both market segments.

“Looking ahead, we anticipate demand for our CBRN products will continue to be driven by global geopolitical insecurity and the persistence of nuclear threats.

“Also, an acceleration in the development and commercialisation of SPECT, CTand BMD utilising CZT by major OEMs is expected to translate into increased collaborations, strategic partnerships and more contracts for the advanced imaging segment.

“Consequently, Kromek is well positioned to deliver future growth and value for shareholders.”

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