NIOX Group boosts revenue, cash and dividend on growing global demand for FeNO diagnostics

An announcement from Circassia Pharmaceuticals ( (GB:NIOX) ) is now available.

NIOX Group reported strong 2025 results, with revenue rising 17% to £48.7m, adjusted EBITDA up 21% to £16.7m and year-end cash nearly doubling to £19.9m despite a £5m dividend, prompting the Board to recommend a higher final payout. Growth was driven by a 9% increase in FeNO tests to 7.2m, a 7% expansion of the clinical device base, and a 77% surge in research revenue on the back of more COPD trials, while the launch of next-generation device NIOX PRO and early work on a home-use device, together with stronger US sales infrastructure and improved FeNO reimbursement in Japan, reinforce the group’s positioning for further expansion in respiratory diagnostics.

Management highlighted record testing volumes, broad insurance coverage for FeNO in the US and a growing evidence base for FeNO use in COPD as key drivers of future clinical adoption. With a solid balance sheet, tight cost control and rising demand across both clinical and research markets, NIOX is using its expanded product portfolio and global footprint to pursue sustainable growth and increased shareholder returns amid heightened focus on respiratory health worldwide.

The most recent analyst rating on (GB:NIOX) stock is a Buy with a £86.00 price target. To see the full list of analyst forecasts on Circassia Pharmaceuticals stock, see the GB:NIOX Stock Forecast page.

Spark’s Take on NIOX Stock

According to Spark, TipRanks’ AI Analyst, NIOX is a Neutral.

Circassia Pharmaceuticals’ overall stock score is driven by its strong financial performance and positive corporate events, which are offset by neutral technical indicators and a high P/E ratio suggesting overvaluation. The company’s robust cash flow and low leverage provide a stable foundation, while recent corporate actions signal confidence in future growth.

To see Spark’s full report on NIOX stock, click here.

More about Circassia Pharmaceuticals

NIOX Group is a UK-based medical device company specialising in point-of-care fractional exhaled nitric oxide (FeNO) testing for the diagnosis, monitoring and management of asthma and COPD. Its market-leading devices, including NIOX VERO and the newly launched NIOX PRO, are sold to clinicians and research organisations in more than 50 countries, supported by direct sales and distributor networks.

Average Trading Volume: 740,254

Technical Sentiment Signal: Sell

Current Market Cap: £227.4M

For detailed information about NIOX stock, go to TipRanks’ Stock Analysis page.