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Renalytix plc Reports Financial Results for First Quarter of Fiscal Year 2025

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LONDON and NEW YORK, Nov. 20, 2024 /PRNewswire/ — Renalytix plc (LSE: RENX) (OTCQB: RNLXY), an artificial intelligence-enabled in vitro diagnostics company, focused on optimizing clinical management of kidney disease to drive improved patient outcomes and advance value-based care, reports its financial results for the fiscal quarter of 2025 ended September 30, 2024.  

First Quarter Fiscal 2025 and recent highlights

Continued test ordering momentum at a large New York-based physician group practice, after test ordering and processing commenced in September 2024Cash burn to be reduced to an approximate run rate of £560,000 (approximately $725,000) or less per month by the end of fiscal year 2025Financing comprising £11.8m (approximately US$14.9 million after expenses) in commitments completed subsequent to the end of the quarterCompany believes that as of November 2024, it now has sufficient cash on the balance sheet to fund current operationsIssued first guidance on multi-year revenue generation: c. $3.2m in FY25, $8.5m in FY26 and $17.5m in FY27Accomplished life sciences industry veteran Julian Baines MBE appointed as Executive Chairman.

James McCullough, CEO of Renalytix commented: “We are pleased to have positioned Renalytix financially and commercially for what we believe will be an exciting fiscal year that represents a breakout from our development phase into a commercially focused business leveraging growth within the large and unaddressed market we serve. Following our fundraise, for which we appreciate our investors’ support, we believe the wind is now behind our back and we are excited to propel the Company’s growth while supporting better patient outcomes through adoption of our kidneyintelX.dkd test by physicians and hospital systems.”

First Quarter 2025 Financial Results

During the three months ended September 30, 2024, the Company recognized $0.52 million of revenue, compared to $0.46 million for the three months ended September 30, 2023. Cost of revenue for the three months ended September 30, 2024 and 2023, was $0.42 million and $0.50 million, respectively.

Total operating expenses for the three months ended September 30, 2024 were $4.2 million, and down over 50% from $8.8 million during the prior year period.

Within operating expenses, research and development expenses were $0.9 million for the three months ended September 30, 2024, decreasing by $1.9 million from $2.8 million for the three months ended September 30, 2023. The decrease was attributable to a decrease in external R&D projects and studies, lower compensation and related benefits and a reduction in operating expenses.

General and administrative expenses were $3.3 million for the three months ended September 30, 2024, decreasing by $2.8 million from $6.1 million for the prior year period with the decrease driven by significant cost cutting measures.

Net loss was $4.7 million for the three months ended September 30, 2024, down over 50% from a net loss of $10.1 million for the prior year period.

Cash and cash equivalents totaled $0.9 million as of September 30, 2024.

Equity financing rounds, restructuring of liabilities and reduction in expenses allow sufficient cash for at least next twelve months

During October and November 2024 the Company secured additional rounds of equity financing comprising £11.8m (approximately US$14.9 million) in commitments and concurrently restructured a number of liabilities on the balance sheet. This additional equity funding, the reduction of cash expenses related to the Company’s liabilities, and an overall reduction in General and Administrative Expenses have significantly changed the Company’s financial position relative to cash needs.  As a result, the Company believes that as of November 2024, it now has sufficient cash on the Balance Sheet to fund current operations. While the possibility exists that the Company may seek additional capital, it is not required to sustain current operations for the next twelve months.

For further information, please contact:

Renalytix plc

www.renalytix.com

James McCullough, CEO

Via Walbrook PR

Stifel (Nominated Adviser and Joint Broker)

Tel: 020 7710 7600

Nicholas Moore / Nick Harland / Ben Good

Oberon Capital (Joint Broker)

Tel: 020 3179 5300

Mike Seabrook / Nick Lovering

Walbrook PR Limited

Tel: 020 7933 8780 or renalytix@walbrookpr.com

Paul McManus / Alice Woodings

Mob: 07980 541 893 / 07407 804 654

CapComm Partners

Peter DeNardo

Tel: 415-389-6400 or investors@renalytix.com

About Renalytix
Renalytix (LSE: RENX) (OTCQB: RNLXY) is an artificial intelligence enabled in-vitro diagnostics and laboratory services company that is the global founder and leader in the field of bioprognosis™ for kidney health. In late 2023, our kidneyintelX.dkd test was recognized as the first and only FDA-authorized prognostic test to enable early-stage CKD (stages 1-3b) risk assessment for progressive decline in kidney function in T2D patients. By understanding how disease will progress, patients and clinicians can take action earlier to improve outcomes and reduce overall health system costs. For more information, visit www.renalytix.com.

Forward-Looking Statements

This announcement (including any information incorporated by reference in this announcement) and other information published by the Company contain statements about the Company that are or may be deemed to be forward looking statements. Without limitation, any statements preceded or followed by or that include the words “targets”, “plans”, “believes”, “expects”, “aims”, “intends”, “will”, “may”, “anticipates”, “estimates”, “projects” or words or terms of similar substance or the negative thereof, may be forward looking statements.

These forward-looking statements are not guarantees of future performance. Such forward-looking statements involve known and unknown risks and uncertainties that could significantly affect expected results and are based on certain key assumptions. Many factors could cause actual results to differ materially from those projected or implied in any forward-looking statements. Due to such uncertainties and risks, readers should not rely on such forward-looking statements, which speak only as of the date of this announcement. The Company disclaims any obligation or responsibility to update publicly or review any forward-looking or other statements contained in this announcement, except as required by applicable law.

The distribution of this announcement in jurisdictions outside the United Kingdom may be restricted by law and therefore persons into whose possession this announcement comes should inform themselves about, and observe, such restrictions. Any failure to comply with the restrictions may constitute a violation of the securities law of any such jurisdiction.

RENALYTIX PLC

CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS (Unaudited)

For the Three Months Ended
September 30,

(in thousands, except share and per share data)

2024

2023

Revenue

$

522

$

459

Cost of revenue

422

502

Gross profit (loss)

100

(43)

Operating expenses:

Research and development

921

2,787

General and administrative

3,271

6,059

Total operating expenses

4,192

8,846

Loss from operations

(4,093)

(8,889)

Foreign currency gain, net

37

289

Fair value adjustment to VericiDx investment

97

(447)

Fair value adjustment to convertible notes

(762)

(1,207)

Other (expense) income, net

(5)

100

Net loss before income taxes

(4,726)

(10,154)

Income tax expense

(2)

Net loss

(4,728)

(10,154)

Net loss per ordinary share—basic

$

(0.04)

$

(0.11)

Net loss per ordinary share—diluted

$

(0.04)

$

(0.11)

Weighted average ordinary shares—basic

105,697,401

94,767,841

Weighted average ordinary shares—diluted

105,697,401

94,767,841

Other comprehensive income (loss):

Changes in the fair value of the convertible notes

(125)

75

Foreign exchange translation adjustment

(461)

42

Comprehensive loss

$

(5,314)

$

(10,037)

 

RENALYTIX PLC

CONSOLIDATED BALANCE SHEETS (Unaudited)

 

(in thousands, except share and per share data)

September 30,
2024

June 30,
2024

Assets

Current assets:

Cash and cash equivalents

$

909

$

4,680

Accounts receivable, net

902

722

Prepaid expenses and other current assets

1,068

716

Total current assets

2,879

6,118

Property and equipment, net

202

216

Investment in VericiDx

776

698

Other assets, net

937

940

Total assets

$

4,794

$

7,972

Liabilities and Shareholders’ Deficit

Current liabilities:

Accounts payable

$

3,188

$

1,590

Accounts payable – related party

2,408

1,018

Accrued expenses and other current liabilities

2,162

3,354

Accrued expenses – related party

102

1,329

Current lease liability

11

45

Convertible notes-current

4,142

4,159

Total current liabilities

12,013

11,495

Convertible notes-noncurrent

4,100

4,331

Total liabilities

16,113

15,826

Commitments and contingencies

Shareholders’ deficit:

Ordinary shares, £0.0025 par value per share: 173,841,695 shares
   authorized; 165,925,513 and 154,368,191 shares issued and
   outstanding at September 30, 2024 and June 30, 2024, respectively

515

478

Additional paid-in capital

206,705

204,893

Accumulated other comprehensive loss

(2,029)

(1,443)

Accumulated deficit

(216,510)

(211,782)

Total shareholders’ deficit

(11,319)

(7,854)

Total liabilities and shareholders’ deficit

$

4,794

$

7,972

 

RENALYTIX PLC

CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited)

For the Three Months Ended
September 30,

(in thousands)

2024

2023

Cash flows from operating activities:

Net loss

$

(4,728)

$

(10,154)

Adjustments to reconcile net loss to net cash used in operating activities:

Depreciation and amortization

60

127

Stock-based compensation

254

523

Fair value adjustment to VericiDx investment

(97)

447

Realized loss on sale of ordinary shares in VericiDx

42

Realized foreign exchange gain

(18)

Fair value adjustment to convertible debt, net interest paid

762

945

Non cash lease expense

28

Provision for credit losses

(25)

Changes in operating assets and liabilities:

Accounts receivable

(154)

(238)

Prepaid expenses and other current assets

(327)

(153)

Accounts payable

1,550

250

Accounts payable – related party

1,390

202

Accrued expenses and other current liabilities

(1,312)

(2,060)

Accrued expenses – related party

(1,233)

579

Net cash used in operating activities

(3,836)

(9,504)

Cash flows from investing activities:

Sale of ordinary shares in VericiDx investment

23

Net cash provided by investing activities

23

Cash flows from financing activities:

Payment of convertible notes principal

(1,060)

Payment of offering costs

(5)

Net cash used by financing activities

(1,065)

Effect of exchange rate changes on cash

42

(222)

Net decrease in cash and cash equivalents

(3,771)

(10,791)

Cash and cash equivalents, beginning of period

4,680

24,682

Cash and cash equivalents, end of period

$

909

$

13,891

Supplemental noncash investing and financing activities:

Noncash lease liabilities arising from obtaining right-of-use assets

$

$

4

Cash paid for interest on convertible debt

$

$

249

Issuance of shares for debt repayment

$

(1,588)

$

(1,054)

 

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SOURCE Renalytix plc

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HelloNation Examines Medicare Advantage & Medigap Coverage Differences, Featuring Financial Advisor Ash Toumayants

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The article reviews provider access, prescription coverage, and out-of-pocket expenses when comparing Medicare Advantage and Medigap plans.

STATE COLLEGE, Pa., July 24, 2026 /PRNewswire/ — How should residents evaluate whether Medicare Advantage or Medigap coverage better fits their healthcare and financial needs? HelloNation answers this question in an article that explains the key considerations involved in choosing between Medicare Advantage and Medigap plans.

The HelloNation article features insights from Financial Advisor Ash Toumayants of Strong Tower Associates. The article explains that both Medicare Advantage and Medigap supplement Original Medicare but differ significantly in how they handle healthcare providers, prescription coverage, and overall out-of-pocket expenses.

Medicare Advantage plans are typically offered through private insurers and bundles Medicare Part A, Part B, and possibly prescription coverage into a single policy. However, Medicare Advantage plans generally operate with provider networks, meaning healthcare providers must often be selected from within the plan’s approved list.

For residents across Pennsylvania, provider access can play an important role in selecting the right plan. The article explains that individuals should review which healthcare providers are included in a Medicare Advantage network before enrolling. Plan networks may vary by county in Pennsylvania, so residents should confirm that their preferred doctors and specialists are covered.

Medigap plans, also known as Medicare Supplement Insurance, operate differently from Medicare Advantage. The article explains that Medigap works alongside Original Medicare and helps cover certain out-of-pocket expenses such as copays, coinsurance, and deductibles. Although Medigap policies generally involve higher monthly premiums, they can offer greater predictability in medical expenses.

One advantage of Medigap is flexibility in choosing healthcare providers. The article explains that individuals with Medigap coverage can typically visit any doctor or specialist who accepts Medicare nationwide. This broader provider access can be beneficial for retirees who want more freedom in choosing healthcare providers across Pennsylvania or while traveling.

Prescription coverage is another important factor in the decision process. Many Medicare Advantage plans include prescription coverage as part of their bundled benefits. In contrast, Medigap plans do not include prescription coverage, which means individuals who choose Medigap often purchase a separate Medicare Part D plan to manage medication costs.

Budget considerations also influence the decision between Medicare Advantage and Medigap. The article explains that while Medicare Advantage plans may have lower premiums, they often include copays and service limits that affect annual out-of-pocket expenses. Medigap plans generally involve higher premiums but may reduce unexpected out-of-pocket expenses throughout the year.

Travel and lifestyle habits can also affect which plan is more suitable. The article explains that Medicare Advantage plans may have limitations on out-of-network care outside their coverage area. For residents in Pennsylvania who travel frequently or spend time in multiple locations, Medigap coverage may offer greater flexibility when accessing healthcare providers.

Enrollment timing is another important consideration discussed in the article. Medicare Advantage and Medigap plans have different enrollment rules and deadlines tied to the Initial Enrollment Period or the annual Medicare Open Enrollment period. Missing these enrollment opportunities can limit plan choices or result in additional underwriting requirements.

The article concludes that choosing between Medicare Advantage and Medigap in Pennsylvania requires careful evaluation of healthcare providers, prescription coverage, travel habits, budget considerations, and potential out-of-pocket expenses. Comparing plan structures and reviewing coverage details helps individuals make informed decisions that align with their healthcare and financial priorities.

How to Decide Between Medicare Advantage & Medigap features insights from Ash Toumayants, Financial Advisor of State College, PA, in HelloNation.

About HelloNation
HelloNation is America’s Good News Network, a premier media platform built on the idea that good news travels faster when real people tell real stories. Through its community-focused publications and innovative “edvertising” approach, HelloNation delivers content that informs, inspires, and spotlights the leaders making a meaningful impact in their communities.

View original content to download multimedia:https://www.prnewswire.com/news-releases/hellonation-examines-medicare-advantage–medigap-coverage-differences-featuring-financial-advisor-ash-toumayants-302829329.html

SOURCE HelloNation

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In HelloNation, Pool & Landscaping Expert Tina Possehn Wolbers Discusses What Pool Opening & Closing Services Include

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The article highlights how seasonal pool service simplifies pool maintenance and protects backyard pools year-round.

LANSING, Mich., July 24, 2026 /PRNewswire/ — What is included with pool opening and closing services, and how do they support pool ownership? The answer is explored in a HelloNation article, which features insights from Tina Possehn Wolbers of Wolbers-Possehn Pools, Ponds and Landscapes.

The HelloNation article explains that seasonal pool service plays a key role in maintaining a backyard pool throughout the year. By handling the transition between seasons, pool opening service and pool closing service make pool maintenance more manageable and allow homeowners to focus on enjoying their space.

Pool opening service marks the beginning of the swimming season. One of the first steps is removing the pool cover, which has protected the pool during colder months. The pool cover is carefully cleaned and stored, helping extend its lifespan and prepare it for future use. Once removed, the backyard pool begins to take shape as a clean and inviting environment.

Another important part of pool opening service is reconnecting and inspecting pool equipment. Pumps, filters, and circulation systems are checked to ensure they are functioning properly. This step helps restore water flow and sets the foundation for effective pool maintenance throughout the season.

Water level adjustments and water balancing are also essential components of pool opening service. Ensuring proper water levels allows systems to run efficiently, while water balancing helps create a safe and comfortable swimming environment. These steps help homeowners enjoy their backyard pool without unnecessary complications.

The article emphasizes that pool opening service and pool closing service are key components of seasonal pool service, helping simplify pool maintenance and reduce the stress of managing a pool. With a structured approach, homeowners can rely on consistent care that keeps their pool in good condition.

Pool closing service prepares the pool for colder months when it is not in use. This process includes lowering the water level to help prevent potential damage. Proper water management during pool closing service helps protect the structure and equipment over time.

Protecting plumbing lines is another critical part of pool closing service. Water is removed from pipes to prevent freezing and expansion, which could lead to damage. Taking these steps ensures that the system remains intact and ready for the next pool opening service.

Securing the pool cover completes the process. A properly fitted pool cover keeps debris out and helps maintain water quality during the off-season. It also makes the next pool opening service easier by reducing the amount of cleaning required.

Seasonal pool service provides a more predictable and low-stress experience for homeowners. Instead of handling every detail themselves, pool owners can rely on professional processes that keep their backyard pool functioning properly year after year.

Beyond maintenance, a well-cared-for backyard pool becomes a space for relaxation and connection. Whether hosting gatherings or enjoying quiet time, the pool adds value to everyday life. Pool opening service and pool closing service support that experience by keeping the pool ready when it matters most.

The HelloNation article concludes that understanding what is included in seasonal pool service helps homeowners set clear expectations and maintain their pool with confidence. With proper pool maintenance, water balancing, and use of a secure pool cover, owning a backyard pool in Lansing becomes both simple and enjoyable.

What Is Included With Pool Opening & Closing Services in Lansing? features insights from Tina Possehn Wolbers, Pool & Landscaping Expert of Lansing, MI, in HelloNation.

About HelloNation

HelloNation is America’s Good News Network, a premier media platform built on the idea that good news travels faster when real people tell real stories. Through its community-focused publications and innovative “edvertising” approach, HelloNation delivers content that informs, inspires, and spotlights the leaders making a meaningful impact in their communities.

View original content to download multimedia:https://www.prnewswire.com/news-releases/in-hellonation-pool–landscaping-expert-tina-possehn-wolbers-discusses-what-pool-opening–closing-services-include-302829324.html

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Verra Mobility Schedules Second Quarter 2026 Earnings Call

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MESA, Ariz., July 24, 2026 /PRNewswire/ — Verra Mobility Corporation (NASDAQ: VRRM), a leading provider of smart mobility technology solutions, announced today that it will report financial results for the second quarter ended June 30, 2026, after market close on August 5, 2026.

Verra Mobility’s Interim Chief Executive Officer, Jon Keyser, and Chief Financial Officer, Craig Conti, will host a conference call and live webcast to discuss financial results for investors and analysts at 5:00 p.m. ET on August 5, 2026.

A live webcast will be available on the Company’s Investor Relations website at ir.verramobility.com. To access this conference call by telephone, register here to receive dial-in numbers and a unique PIN to join the call. A replay of the call will also be made available on the Investor Relations website.

In addition, an archived webcast will be available in the “News & Events” section of Verra Mobility’s Investor Relations website at ir.verramobility.com.

About Verra Mobility

Verra Mobility Corporation (NASDAQ: VRRM) is a leading provider of smart mobility technology solutions that make transportation safer, smarter and more connected. The company sits at the center of the mobility ecosystem, bringing together vehicles, hardware, software, data and people to enable safe, efficient solutions for customers globally. Verra Mobility’s transportation safety systems and parking management solutions protect lives, improve urban and motorway mobility and support healthier communities. The company also solves complex payment, utilization and compliance challenges for fleet owners and rental car companies. Headquartered in Arizona, Verra Mobility principally operates in North America, Europe and Australia. For more information, please visit www.verramobility.com.

Forward Looking Statements

This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements include, but are not limited to, statements about Verra Mobility’s plans, objectives, expectations, beliefs and intentions and other statements including words such as “hope,” “anticipate,” “may,” “believe,” “expect,” “intend,” “will,” “should,” “plan,” “estimate,” “predict,” “continue” and “potential” or the negative of these terms or other comparable terminology. The forward-looking statements herein represent the judgment of Verra Mobility, as of the date of this release, and Verra Mobility disclaims any intent or obligation to update forward-looking statements. Forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those currently anticipated. This press release should be read in conjunction with the information included in Verra Mobility’s other press releases, reports and other filings with the SEC and on the SEC website, www.sec.gov. Understanding the information contained in these filings is important in order to fully understand Verra Mobility’s reported financial results and our business outlook for future periods. Actual results may differ materially from the results anticipated in the forward-looking statements and the assumptions and estimates used as a basis for the forward-looking statements.

Additional Information

We periodically provide information for investors on our corporate website, www.verramobility.com, and our investor relations website, ir.verramobility.com. We intend to use our website as a means of disclosing material non-public information and for complying with disclosure obligations under Regulation FD. Accordingly, investors should monitor our website, in addition to following the Company’s press releases, SEC filings and public conference calls and webcasts.

Media Relations:

Investor Relations:

Valerie Schneider

Mark Zindler

valerie.schneider@verramobility.com

mark.zindler@verramobility.com 

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