Cyclopharm Posts Record Revenue as U.S. Technegas Push Accelerates

An update from Cyclopharm Limited ( (AU:CYC) ) is now available.

Cyclopharm reported a fifth consecutive year of record revenue in 2025, with group sales rising 17% to $32.3 million, driven by strong growth in Technegas and third-party distribution. The U.S. has rapidly become the company’s largest Technegas market, with revenue there surging 226% to $2.7 million in its first full year of commercial operations.

Despite an underlying net loss of $16.9 million, management framed this as the result of deliberate investment in U.S. commercial infrastructure, including a cost base of about US$6.5 million and more than 150 generators ready for deployment. A recent $14.2 million capital raise has strengthened the balance sheet, positioning Cyclopharm to scale recurring high-margin consumable revenues and accelerate its U.S. expansion.

The most recent analyst rating on (AU:CYC) stock is a Buy with a A$1.00 price target. To see the full list of analyst forecasts on Cyclopharm Limited stock, see the AU:CYC Stock Forecast page.

More about Cyclopharm Limited

Cyclopharm Limited is an Australian healthcare company specialising in nuclear medicine imaging technologies. Its flagship product, the Technegas system, is used globally for lung ventilation imaging, with a growing focus on the U.S. market, alongside a complementary third-party distribution business that supplies diagnostic consumables across 67 countries.

Average Trading Volume: 122,155

Technical Sentiment Signal: Sell

Current Market Cap: A$92.66M

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