ChemoMetec posts 3% revenue rise as XcytoMatic sales more than double

ChemoMetec has reported full-year results for 2025/26 showing revenue growth of 3% to DKK 511.1 million, with the underlying constant-currency gain running at 7% after the Danish krone's strength weighed on its dominant North American market. EBITDA rose to DKK 281.3 million from DKK 258.0 million a year earlier, lifting the EBITDA margin to 55% from 52%.

The standout line in the results was the performance of the company's XcytoMatic automated cell-counting range, which more than doubled in value from DKK 27.7 million to DKK 61.8 million over the year. Chief executive Martin Helbo Behrens attributed the acceleration to customers' growing focus on automation and to the phasing out of the older NC-200 instrument in favour of the newer NC-203 model.

Automation reshaping the cell-counting market

The annual figures illustrate how automation is increasingly the differentiating factor for equipment suppliers serving bioprocessing and pharmaceutical customers. Instrument sales grew 13% across the group; consumables, which have historically provided predictable recurring income, fell 4%, suggesting customers are shifting workflow complexity upstream into integrated automation platforms rather than relying on high-throughput manual sampling.

Behrens said the XcytoMatic platform's ability to slot into larger automated solutions sets ChemoMetec apart from competitors that serve only semi-automated workflows. The company devoted significant resources during the year to building industrial partnerships aimed at full-automation customers in bioprocessing, a segment it has been targeting deliberately for several years.

Regional performance was mixed. The USA and Canada, which account for 54% of revenue, contracted 6% in reported kroner terms, though the constant-currency picture was a modest 1% gain. Europe, representing 36% of revenues, grew 14%, and the rest of the world expanded 21%, suggesting the international diversification strategy is beginning to contribute meaningfully.

Market context and outlook

Cell-counting instruments occupy a critical but often overlooked position in biopharmaceutical production workflows. As cell therapy and recombinant protein manufacturing scales up globally, the demand for high-throughput, GMP-compatible cell-viability monitoring has grown alongside it. ChemoMetec competes in this space against a range of instrument suppliers, including larger life-science platform companies that bundle cell-counting capabilities within broader bioprocess analysers, as well as smaller specialists. The company's positioning as one of the few suppliers able to integrate into larger automation architectures gives it a credible differentiation argument, though the durability of that advantage will depend on how quickly competitors update their own integration offerings.

For 2026/27, management expects revenue of DKK 545 to 575 million and EBITDA of DKK 300 to 315 million, implying continued margin discipline at broadly the same 55% level. The board has proposed no dividend for 2025/26, citing an ongoing share buy-back programme as the preferred route for returning capital. Net profit for the year came in at DKK 201.8 million, up from DKK 174.7 million in the prior period.

Both revenue and EBITDA for 2025/26 fell within guidance ranges published in May 2026. The company will present the results on an investor call on 11 September, led by Behrens and chief financial officer Phillip Massie Price.