Futura Medical PLC (GB:FUM)
LSE:FUM
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Futura Medical
(LSE:FUM)
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Rating:42Neutral
Price Target:
0.72 p
▼(-41.79% Downside)
Action:ReiteratedDate:05/02/26
The score is driven down primarily by weak financial performance (sharp 2025 revenue decline, losses, and ongoing cash burn) and a clearly bearish technical trend (price below all key moving averages with negative momentum). Valuation offers limited support due to loss-making results (negative P/E), and the latest earnings call added near-term risk via reduced guidance and tight cash runway despite some cost cuts and longer-term product/patent progress.
Positive Factors
Asset-light Partner-led Model
Futura’s partner-led licensing model is durable: it shifts distribution, marketing and manufacturing costs to regional partners while preserving upside via milestone and royalty streams. This asset-light approach reduces fixed capex and operating leverage, enabling scalable revenue without large sales overheads.
Negative Factors
Severe Revenue Decline
A near-80% revenue collapse is a structurally concerning signal: it undermines recurring royalty streams, weakens partner confidence, and makes future sales forecasts unreliable. Persistent revenue volatility limits reinvestment, complicates partner deals and raises the bar for reaching sustainable operating leverage.
Read all positive and negative factors
Positive Factors
Negative Factors
Asset-light Partner-led Model
Futura’s partner-led licensing model is durable: it shifts distribution, marketing and manufacturing costs to regional partners while preserving upside via milestone and royalty streams. This asset-light approach reduces fixed capex and operating leverage, enabling scalable revenue without large sales overheads.
Read all positive factors
Futura Medical (FUM) vs. iShares MSCI United Kingdom ETF (EWC)
Market Cap
£4.34M
Dividend YieldN/A
Average Volume (3M)3.22M
Price to Earnings (P/E)―
Beta (1Y)0.55
Revenue Growth-87.82%
EPS Growth-704.65%
CountryUK
Employees14
SectorHealthcare
Sector Strength45
IndustryBiotechnology
Share Statistics
EPS (TTM)-0.02
Shares Outstanding581,327,760
10 Day Avg. Volume4,828,957
30 Day Avg. Volume3,220,377
Financial Highlights & Ratios
PEG Ratio<0.01
Price to Book (P/B)1.30
Price to Sales (P/S)2.15
P/FCF Ratio-0.65
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)>-0.01
Revenue Forecast (FY)£5.10M
Futura Medical Business Overview & Revenue Model
Company Description
Futura Medical plc, a pharmaceutical company, develops pharmaceutical and healthcare products for the consumer healthcare markets focusing on sexual health and pain relief management. Its lead product is MED3000, a topical gel for the treatment of...
How the Company Makes Money
Futura Medical makes money primarily by commercialising its erectile dysfunction product MED3000/Eroxon through partnerships rather than building a large direct sales infrastructure. Its core revenue model is partner-led: the company grants commer...
Futura Medical Earnings Call Summary
Earnings Call Date:Sep 30, 2025
(Q2-2025)
| % Change Since: |
Next Earnings Date:Sep 22, 2026
Earnings Call Sentiment Negative
The earnings call reflected significant financial and operational challenges with revenue shortfalls, unexpected market performance, and inventory issues. While there are promising R&D developments, these are long-term. Immediate financial pressures and market challenges dominate the current outlook.Positive Updates
R&D Developments
Futura is advancing two new products: Project Intense and WSD4000. Project Intense aims to enhance sensorial effects for men, with regulatory approval expected by the end of 2025. WSD4000 targets women's sexual response, with significant market potential, though it is expected to launch in the latter half of 2028.
Negative Updates
Revenue Shortfall
Revenues of just over GBP 1 million for H1 2025 fell significantly below expectations, with full-year sales now expected to be between GBP 1.3 million and GBP 1.4 million, far below the initial GBP 5 million projection.
Read all updates
Q2-2025 Updates
Positive
Negative
R&D Developments
Futura is advancing two new products: Project Intense and WSD4000. Project Intense aims to enhance sensorial effects for men, with regulatory approval expected by the end of 2025. WSD4000 targets women's sexual response, with significant market potential, though it is expected to launch in the latter half of 2028.
Read all positive updates
Company Guidance
During the investor presentation call for Futura Medical plc, Interim CEO Alex Duggan provided guidance indicating that the company's full-year 2025 performance is expected to fall significantly below market expectations due to challenges in sustaining consumer uptake and lower-than-anticipated repeat sales. Despite launching in seven countries in H1, the initial strong trials did not translate into continued sales, affecting supply volumes and royalty streams. Angela Hildreth reported a revenue of just over GBP 1 million for the first half of 2025, with a gross profit of GBP 0.7 million, but also highlighted a GBP 0.49 million provision for inventory obsolescence. The company incurred an exceptional charge of GBP 3.6 million due to impairment of U.S. plant and equipment, contributing to a loss after tax of GBP 6.6 million. The adjusted loss after tax was GBP 1.9 million, with cash reserves at GBP 3.69 million at the period's end. Full-year sales for 2025 are now projected to be between GBP 1.3 million and GBP 1.4 million, with cash reserves reduced to GBP 2.7 million by the end of August. The company is actively exploring commercial and financing options to extend its cash runway, which currently runs into January 2026.Futura Medical Financial Statement Overview
Summary
Income Statement
24
Negative
Balance Sheet
55
Neutral
Cash Flow
30
Negative
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 1.70M | 13.93M | 3.10M | 0.00 | 0.00 |
| Gross Profit | 1.12M | 9.57M | 1.77M | -24.73K | -19.81K |
| EBITDA | -8.84M | 1.41M | -6.83M | -6.85M | -5.85M |
| Net Income | -9.07M | 1.29M | -6.51M | -5.85M | -4.96M |
Balance Sheet | |||||
| Total Assets | 5.22M | 13.59M | 11.82M | 6.47M | 11.80M |
| Cash, Cash Equivalents and Short-Term Investments | 3.40M | 6.60M | 7.71M | 4.03M | 10.37M |
| Total Debt | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Total Liabilities | 2.41M | 4.63M | 6.34M | 1.75M | 2.08M |
| Stockholders Equity | 2.81M | 8.96M | 5.48M | 4.72M | 9.72M |
Cash Flow | |||||
| Free Cash Flow | -5.58M | -1.29M | -935.60K | -6.52M | -4.29M |
| Operating Cash Flow | -5.58M | 438.41K | 570.25K | -5.78M | -3.87M |
| Investing Cash Flow | 0.00 | -1.73M | -1.43M | -740.70K | -419.72K |
| Financing Cash Flow | 2.38M | 170.91K | 4.55M | 169.58K | 13.65M |
Futura Medical Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
49 Neutral | £30.32M | -1.92 | -53.86% | ― | ― | -29.55% | |
46 Neutral | £24.92M | 2.40 | -197.54% | ― | 3.31% | 21.91% | |
44 Neutral | £25.27M | 32.17 | -10.01% | ― | 283.74% | 78.57% | |
43 Neutral | £5.27M | -2.61 | -2.42% | ― | 102.28% | 95.58% | |
42 Neutral | £4.34M | -0.65 | -115.97% | ― | -87.82% | -704.65% | |
42 Neutral | £328.05M | -1.74 | -361.23% | ― | ― | ― |
* Healthcare Sector Average
GB:FUM
Futura Medical
0.75
-8.03
-91.46%
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Futura Medical Corporate Events
Business Operations and StrategyFinancial Disclosures
Futura Medical Swings to Loss as Eroxon Sales Lag and Cash Runway Tightens
Negative
Apr 29, 2026
Futura Medical reported a sharp deterioration in 2025 results, as revenue slid to £1.7 million from £13.9 million and the group swung to an operating loss of £9.1 million, reflecting slower-than-expected in-market sales and weak rep...
Business Operations and StrategyFinancial Disclosures
Futura Medical Sets Date for 2025 Results and Investor Webinar as Sexual Health Portfolio Expands
Positive
Apr 20, 2026
Futura Medical, the AIM-listed consumer healthcare group best known for its Eroxon erectile dysfunction gel, will publish full-year results for 2025 on 29 April and has scheduled an investor webinar the same day via the Investor Meet Company platf...
Business Operations and StrategyFinancial Disclosures
Futura Medical Sets Date for 2025 Results and Investor Webinar
Neutral
Apr 20, 2026
Futura Medical will publish its full-year results for 2025 on 29 April and will host an online investor presentation the same day via the Investor Meet Company platform. The webinar, open to existing and prospective shareholders, allows questions ...
Business Operations and StrategyProduct-Related AnnouncementsRegulatory Filings and Compliance
Futura Medical Reports Positive Home User Data for Eroxon and New Intense Formula
Positive
Mar 23, 2026
Futura Medical reported positive results from a four-week home user test comparing its marketed erectile dysfunction gel Eroxon with prototype formulation Eroxon Intense in 223 U.K. men, mostly with mild to moderate erectile dysfunction. Both prod...
Business Operations and StrategyPrivate Placements and Financing
Futura Medical Wins U.S. Patent Extension for Eroxon and Women’s Sexual Health Product
Positive
Mar 18, 2026
Futura Medical has secured formal grant of a continuation patent in the U.S., providing protection until 2040 for its lead erectile dysfunction gel Eroxon, its Eroxon Intense formulation and its in-development women’s product WSD4000. The ex...
Business Operations and StrategyProduct-Related Announcements
Futura Medical Secures Key US Patent Milestone for Eroxon and Women’s Sexual Health Product
Positive
Feb 5, 2026
Futura Medical has received a notice of allowance for a US continuation patent that will extend protection for its erectile dysfunction gel Eroxon, including derivative formulations such as Eroxon Intense, as well as its women’s sexual healt...
Business Operations and StrategyFinancial DisclosuresPrivate Placements and Financing
Futura Medical Lifts 2025 Revenue Guidance and Extends Cash Runway to Late 2026
Positive
Feb 4, 2026
Futura Medical reported that unaudited revenue for 2025 is expected to reach £1.7 million, ahead of earlier guidance, and year-end net cash stood at £3.4 million following a £2.75 million fundraise completed in November. The company...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.