Renalytix Achieves Milestone with 20% Revenue Growth in Q3

Renalytix ( (GB:RENX) ) has shared an announcement.

Renalytix has reported a 20% quarter-on-quarter revenue growth in Q3, achieving a milestone of processing over 1,000 billable tests in a quarter for the first time. This growth is supported by the onboarding of a large New York-based primary care network and increased direct-to-physician sales efforts. The company remains on track to meet its full-year expectations and plans to expand the distribution of kidneyintelX.dkd through new insurance payors, care networks, and hospital systems.

Spark’s Take on GB:RENX Stock

According to Spark, TipRanks’ AI Analyst, GB:RENX is a Underperform.

Renalytix’s overall stock score reflects severe financial challenges, including declining revenues, high operating losses, and solvency issues. While technical indicators suggest a bearish trend, recent strategic expansions and investments by UBS Group AG could provide some optimism. However, the current valuation remains unattractive with a negative P/E ratio and no dividend yield, reinforcing cautious investor sentiment.

To see Spark’s full report on GB:RENX stock, click here.

More about Renalytix

Renalytix is an artificial intelligence-enabled in vitro diagnostics company focused on optimizing clinical management of kidney disease to improve patient outcomes. The company has received FDA approval and Medicare reimbursement for its kidneyintelX.dkd test, which is commercially available in the United States.

YTD Price Performance: 13.75%

Average Trading Volume: 404

Technical Sentiment Signal: Strong Buy

Current Market Cap: $35.07M

Learn more about RENX stock on TipRanks’ Stock Analysis page.