Ikonisys SA reports its Full-Year Financial Results for 2025

Ikonisys SA reports its Full-Year Financial Results for 2025 and provides an update on its latest developments

• Total revenue up 52.6% to €1.64 million (vs. €1.08 million in 2024), driven by the contribution of Hospitex over twelve months and the gradual deployment of Aliko Scientific’s integrated offer
• EBITDA improved by 32.9% to -€1.14 million (vs. -€1.7 million in 2024), combined with a 7.6% decrease in operating expenses excluding depreciation and amortization
• Continued industrial and commercial deployment of the integrated oncology diagnostics platform, including the U.S. ACTA patent, the launch of Urine24 and the exclusive distribution agreement with Menarini Diagnostics

 

Paris, July 30, 2026 – 6:00 pm CEST – Aliko Scientific (Ikonisys SA – Euronext Growth Paris: ALIKO), an international life sciences group dedicated to integrated oncology diagnostics, today announces its audited annual results for the year ended December 31, 2025 as well as the publication of its 2025 Annual Financial Report.

As previously announced, the listing of the Company’s shares on Euronext Growth Paris has been suspended since June 15, 2026, pending the publication of the 2025 Annual Financial Report. Following today’s publication, the Company anticipates a resumption of trading in accordance with applicable market procedures.

Francesco Trisolini, Chief Executive Officer of Aliko Scientific, said: “2025 marked a decisive step in the transformation of the Group, under the Aliko Scientific brand. Beyond a name change, this evolution has given a clearer industrial shape to our ambition: to build an international platform dedicated to integrated oncology diagnostics, covering the entire pathway, from sample preparation to cytological, molecular and digital analyses.

This vision is based on the complementarity of the skills of Ikonisys and Hospitex. Ikonisys brings expertise in automated FISH analysis, molecular imaging, rare cell detection, and diagnostic software, while Hospitex has strong industrial capabilities in liquid phase cytology, standardized sample preparation, consumables, and laboratory workflows. Together, these competencies allow us to move beyond a logic of isolated products and gradually build a more integrated, recurring and scalable model, combining instruments, consumables, software, services and targeted clinical applications.

The progress made during the year – including the continued integration of Hospitex, the granting of the US patent for ACTA technology, the launch of Urine24, the exclusive distribution agreement with Menarini Diagnostics and the development of CYTOfast Auto – show that this project is already taking concrete industrial and commercial form.

We remain fully aware of our current size, the resources we have at our disposal and the long sales cycles that characterize our markets. Our priorities are therefore clear: to strengthen our international distribution network, convert opportunities into contracts and installations, continue to invest selectively in automation and digital diagnostics, and increase the contribution of recurring revenues. Our responsibility now is to transform Aliko Scientific’s potential into measurable results and sustainable value for laboratories, patients, partners and shareholders. »

 

2025 Highlights and Subsequent Developments

Throughout fiscal 2025, the Group continued the industrial and commercial integration of Hospitex International and gradually deployed Aliko Scientific as an integrated oncology diagnostic platform combining standardized sample preparation, liquid cytology, automated FISH analysis, digital imaging, software, consumables and related services.

• Ikonisys has been granted a U.S. patent for ACTA – Automated Cancer Treatment Assessment, strengthening the Group’s intellectual property portfolio in automated cancer cell analysis and monitoring of treatment efficacy.
• Hospitex has won several public hospital contracts in Italy, including from the Azienda Ospedaliera Universitaria “Gaetano Martino” in Messina, the F. Miulli Regional Hospital and the Policlinico di Bari, supporting the expansion of the installed base and the recurrent consumption of reagents and consumables.
• The Group launched Urine24 in Italy and signed an exclusive distribution agreement with Menarini Diagnostics covering, for the Italian market, its integrated portfolio of FISH solutions, cytology, cell block preparation, rapid immunohistochemistry and associated consumables.
• Hospitex has initiated the development of CYTOfast Auto, a fully automated universal processor for liquid-phase cytology, designed to improve standardization, reduce operator dependency and facilitate integration into digital pathology workflows.
• The Company strengthened its financial structure, with approximately €3.87 million in transactions completed in 2025, excluding shares issued in consideration for the acquisition of Hospitex, including approximately €2.00 million in cash contributions and €1.87 million in debt converted into equity.

After closing, the Group continued its commercial, technological and financial development. Francesco Trisolini has been appointed Chief Executive Officer; Hospitex has signed a distribution agreement for Urine24 with Naturneed; Ikonisys has signed a strategic memorandum of understanding with Cellay Inc. and obtained a first commercial deployment with Arizona Urology Specialists; Hospitex won a five-year tender from the Federico II University Hospital in Naples; and Ikonisys has signed a Memorandum of Understanding (MoU) with BioBrasil for the creation of a Brazilian joint venture dedicated to the production of FISH probes.

The Company also signed an agreement in Uzbekistan for a feasibility study for a potential Urine24-based urinary tract cancer screening program.

 

Simplified consolidated income statement for the financial year 2025

In euros	Fiscal year 2025	Fiscal year 2024
Net sales	1 388 030	1 011 113
Other income	252 284	63 973
Cost of goods sold	(490 763)	(295 739)
Gross margin	1 149 551	779 347
Operating expenses (excluding D&A)	(2 288 226)	(2 476 195)
Depreciation and amortization	(2 758 388)	(1 353 962)
Operating income	(3 897 065)	(3 050 748)
Financial result	(304 003)	(186 320)
Taxes	(2 385)	(2 904)
Net income	(4 203 451)	(3 239 970)
Cash and cash equivalents at closing	1 028 984	25 080

 

The 2025 and 2024 consolidated income statements are not directly comparable, Hospitex International has been consolidated since 9 April 2024 and has therefore only been included for approximately nine months in 2024, compared to twelve months in 2025.

Total operating income, including net sales and other operating income, amounted to €1.64 million in 2025, compared to €1.08 million in 2024, an increase of 52.6%. This change reflects the initial effects of the Group’s development plan, in particular the expansion of the installed base, the contribution of Hospitex over the full year and the gradual deployment of Aliko Scientific’s integrated offer.

Gross margin increased to €1.15 million from €0.78 million, while the gross margin rate was 70% compared with 72.5%. The slight decrease in in the margin rate is mainly due to a higher proportion of revenue from the installation of new equipment, which typically generates a lower initial margin than recurring revenue from consumables, reagents, software, maintenance and services.

Operating expenses excluding depreciation and amortization decreased by 7.6%, from €2.48 million in 2024 to €2.29 million in 2025. This change mainly reflects lower R&D expenses and general and administrative expenses, partially offset by higher commercial expenses to support the distribution network and the expansion of the installed base.

As a result, EBITDA improved from a loss of €1.70 million in 2024 to a loss of €1.14 million in 2025, an improvement of around €0.56 million, or 32.9%.

Depreciation, amortization and amortization increased to €2.76 million, compared to €1.35 million, mainly due to the decision to accelerate the amortization of historical capitalized R&D expenses under the Ikoniscope platform. This non-cash accounting charge included approximately €2.49 million related to Ikonisys’ historical development projects. As of December 31, 2025, all capitalized development projects related to the Ikoniscope platform were fully amortized.

As a result of this accelerated depreciation, the capitalized R&D assets remaining on the balance sheet relate exclusively to Hospitex’s projects, mainly Urine24 and CYTOfast Auto. As a result, the annual depreciation expense associated with Ikoniscope’s historical development assets is expected to decrease significantly from 2026 onwards.

The operating loss amounted to €3.90 million, compared to €3.05 million in 2024. Financial expenses amounted to €0.30 million, compared to €0.19 million. After taking into account financial expenses and taxes, the consolidated net loss was €4.20 million, compared to €3.24 million in 2024, with the year-on-year increase mainly attributable to the accelerated depreciation expense with no impact on cash.

Consolidated cash and cash equivalents amounted to €1.03 million at December 31, 2025, compared to €25 thousand a year earlier. Consolidated shareholders’ equity increased to €19.13 million, compared to €14.25 million, supported by capital transactions carried out during the year.

In summary, the 2025 financial year was marked by:

• A 52.6% increase in total operating income to €1.64 million and a 37.3% increase in net revenue to €1.39 million;
• An increase in gross margin to approximately €1.15 million, with a modest temporary reduction in the margin rate due to the higher contribution of equipment installations;
• A 32.9% improvement in EBITDA, from a loss of €1.70 million to a loss of €1.14 million;
• A 7.6% reduction in operating expenses before depreciation and amortization, despite increased commercial investments;
• The full amortisation of Ikoniscope’s historical development projects through an exceptional accounting charge with no impact on cash;
• A consolidated net loss of €4.20 million, significantly affected by accelerated depreciation; and
• A strengthened cash position at the end of the year, at €1.03 million.

 

Strategy and outlook

Aliko Scientific’s strategy is based on the progressive development of an integrated and connected ecosystem of oncology diagnostics. Ikonisys brings automated FISH microscopy, molecular imaging, rare cell detection, and diagnostic software, while Hospitex brings standardized sample preparation, liquid-phase cytology, cell block solutions, consumables, and laboratory workflows.

By integrating these technologies, the Group intends to cover an increasing part of the diagnostic process, from the collection and preparation of the biological sample to cytological and molecular analyses, digital review and reporting production.

The strategic roadmap is based on three main axes: international commercial expansion through selected distributors and partners; Integration of products and services into standardized diagnostic workflows. and targeted partnerships or external growth opportunities that could complement the Group’s technology portfolio and market access.

Commercial execution remains the main priority in the short term. Management focuses on converting qualified opportunities into contracts, installations and recurring volumes of consumables; support for distributors and clinical reference centres; and prioritizing projects with an appropriate balance of clinical relevance, recurring revenue potential, regulatory accessibility, and time to market.

The Group also intends to increase the share of recurring revenues generated by cytology consumables, diagnostic kits, FISH probes, software licenses, maintenance contracts, laboratory services and pay-as-you-go or full-service placement models.

 

Availability of the 2025 Annual Financial Report

The 2025 Annual Financial Report, for the year ended December 31, 2025, will be available from July 31^st, 2026 on the Company’s website: www.alikoscientific.com (in the Documentation > Financial report section).

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About ALIKO SCIENTIFIC (Ikonisys SA)

Headquartered in Paris, ALIKO SCIENTIFIC is the parent company of an international ecosystem of companies dedicated to advancing oncology diagnostics. Listed on Euronext Growth Paris under the symbol ALIKO, the company coordinates industrial, financial and research activities through its subsidiaries: Ikonisys Inc. (United States) and Hospitex International (Italy). ALIKO SCIENTIFIC’s mission is to innovate in cancer diagnostics by combining cutting-edge technologies, resources and strategic investments to create a global center of excellence in oncology.

For more information, see: www.alikoscientific.com

 

About IKONISYS

Ikonisys is a global leader in automated diagnostics, specializing in fluorescence in situ hybridization (FISH) and circulating tumor cell (CTC) detection. Leveraging advanced artificial intelligence (AI) and a fully automated microscopy platform, Ikonisys offers unmatched accuracy, scalability, and efficiency in cancer diagnosis and treatment monitoring. Recognized as a pioneer in automation for rare cell detection, Ikonisys is at the forefront of personalized medicine, enabling clinicians to offer targeted therapies and improve patient outcomes.

For more information, see: www.ikonisys.com

 

About HOSPITEX

Hospitex, based in Florence, Italy, is a global leader in cytology innovation. The company carries out research, development and production in-house, thus ensuring the highest quality standards. Hospitex offers the world’s most advanced liquid phase cytology (LBC) technology, capable of processing any type of cytology sample with unmatched accuracy. Hospitex stands out as the only company that is fully ready for seamless digital integration, paving the way for a transformative future in cytology diagnostics.

For more information, see: www.hospitex.com