Renalytix H1 Trading Update: Revenue Guidance Up 33%, New Large-Scale Hospital Integration Advances

H1 FY26 trading: revenues steady, guidance nudged up 33%

Renalytix has posted an H1 FY26 trading update with unaudited revenues of $1.6 million for the six months to 31 December 2025. Full-year FY26 revenue is now guided to circa $4.0 million, up 33% year-on-year from FY25’s $3.0 million. The company expects revenue to accelerate in H2 as new integrations begin to contribute.

The topline is still small, but the direction of travel is positive. It’s also worth recalling that kidneyintelX.dkd is the only FDA-approved and Medicare-reimbursed prognostic test for early-stage risk assessment in chronic diabetic kidney disease, which can be a strong platform once distribution is in place.

EMR integrations accelerating across US healthcare systems

Three new US healthcare provider integrations were implemented in H1 FY26 (versus one in FY25), enabling electronic medical record (EMR) test ordering for kidneyintelX.dkd. A further three integrations are onboarding in the current quarter, which should lift H2 activity and support the new revenue guidance.

Quick explainer: an EMR integration plugs the test directly into a hospital or clinic’s clinical workflow, making automated patient identification, ordering and results reporting far simpler. That’s critical for diagnostics adoption at scale.

Management flagged that revenue ramp-up in H1 was slower than expected due to longer lead times and the complexity of large health system IT implementations. That’s not unusual with enterprise-level EMR rollouts, but it does mean the commercial curve is lumpy before it becomes linear.

New large-scale hospital integration: 1,000-patient pilot, >40,000 CKD patients in reach

Renalytix is moving into implementation planning for a major US regional healthcare system. The first step is a proposed 1,000-patient pilot in 2026. When fully completed, this integration could open access to more than 40,000 chronic kidney disease (CKD) patients.

Economically, the footing is clear: Medicare reimbursement is established at $950 per reportable result. If the pilot demonstrates clinical and operational value, the scale-up potential within a single system is meaningful. Further announcements will follow “as soon as practicable”.

Real-world evidence study designed to drive adoption and coverage

Renalytix is advancing a real-world evidence (RWE) programme to further validate kidneyintelX.dkd’s clinical and economic utility in kidney and cardiovascular disease management. In plain English: they’re collecting robust outcomes data from real clinical use to prove that the test improves care and saves money.

As part of this, kidneyintelX.dkd is expected to be integrated into up to five additional large healthcare organisations’ EMR systems. That would expand automated patient identification and make testing part of routine workflows – often the tipping point for broader adoption and payer engagement.

The company is also in discussions with larger strategic partners about potential investment and/or logistics support for the study, which signals external interest in scaling the programme’s impact.

Tempus AI collaboration: building a Cardio-Kidney-Metabolic footprint

Renalytix continues to work with Tempus AI, with a joint group exploring combined AI-enabled diagnostics across kidney and cardiovascular disease. Management sees a chance to take a leadership position in the Cardio-Kidney-Metabolic (CKM) initiative – a cluster of conditions that affects up to 80% of the diabetic kidney disease population (per cited literature).

If EMR-integrated data collection and testing expand across providers, this partnership could help Renalytix position kidneyintelX.dkd within larger, outcomes-driven care pathways.

Operations: new lab, cost savings, and cash on hand

The company has activated the relocation of its laboratory operations, with the new facility due to be fully operational in H2 FY26. Management expects the move to significantly increase testing capacity and deliver over $1 million in operating cost savings over the next five years.

Cash balance stood at approximately $6 million as at 31 December 2025. There is no update on cash runway or profitability targets in this RNS. The emphasis remains on cost control alongside scaling test volume via EMR integrations.

Clinical data flow: two-year outcomes read-out expected before year-end

Renalytix continues to generate and publish supportive data, including a recent manuscript in Diabetes Care. A notable milestone is the finalisation of two-year clinical outcome data, now being prepared for peer-reviewed submission. A public read-out is anticipated before the end of the fiscal year and is expected to support clinical adoption and inform national commercial insurance payment coverage.

For diagnostics in value-based care, high-quality outcomes data can be the difference between tactical pilots and system-wide rollouts.

Key numbers at a glance

Metric	Figure
H1 FY26 unaudited revenue	$1.6 million
FY26 revenue guidance (to 30 June 2026)	Circa $4.0 million (+33% YoY vs FY25 $3.0 million)
New EMR integrations in H1 FY26	3 (vs 1 in FY25)
Additional integrations onboarding (current quarter)	3
New large hospital integration – pilot size	1,000 patients (proposed in 2026)
Potential CKD patients in that system	Over 40,000
Medicare reimbursement per result	$950
Expected operating cost savings (lab move)	Over $1 million over five years
Cash balance	Approximately $6 million (31 December 2025)

Why this matters: my take for investors

Positives first: revenue guidance is up 33%, EMR integrations are clearly accelerating, and a large health system pilot opens a path to scale with >40,000 CKD patients in reach. Medicare reimbursement at $950 per reportable result remains a strong economic anchor, and the upcoming two-year outcomes data could be a catalyst for broader adoption and payer coverage.

On the flip side, H1 revenue was slower than expected due to EMR complexity, reminding us execution is methodical rather than rapid. The absolute revenue base is still small, and while cash stood at approximately $6 million at the half year, there is no disclosure here on burn rate or runway.

Overall, this reads like a set-up for a more meaningful H2 and a potentially bigger FY27, contingent on continued EMR go-lives, the success of the 1,000-patient pilot, and favourable outcomes data. If those pieces fall into place, the strategy to embed kidneyintelX.dkd inside routine workflows could start compounding.

Near-term catalysts and what to watch

• H2 FY26 revenue acceleration as integrated providers begin ordering at scale.
• Further detail on the large-scale hospital integration and 1,000-patient pilot.
• RWE programme progress, including EMR integrations into up to five additional large organisations.
• Two-year clinical outcomes data read-out before fiscal year-end.
• Updates on the Tempus AI collaboration within the CKM framework.
• Operational milestones from the new laboratory going fully live in H2 FY26.
• Unaudited interim results before the end of March 2026, plus any commentary on cash and costs.

Jargon buster: quick definitions

• EMR (electronic medical record) integration – embedding the test into a provider’s IT system so clinicians can automatically identify eligible patients, order tests and review results within their normal workflow.
• RWE (real-world evidence) study – analysis of clinical and economic outcomes from everyday use in healthcare settings, used to support adoption and payer decisions.
• CKM (Cardio-Kidney-Metabolic) – interconnected conditions spanning cardiovascular, kidney and metabolic diseases, common in people with diabetes.

In short, Renalytix is doing the heavy lifting required to make a reimbursed, FDA-approved test part of routine care. Execution is still the watchword, but the pieces lining up for H2 – and that large-system pilot – are where the value inflection could emerge.