Renalytix (RENX) AI Stock Analysis

• Market Cap: £14.64M
• Dividend Yield: N/A
• Average Volume (3M): 10.03M
• Price to Earnings (P/E): ―
• Beta (1Y): -0.17
• Revenue Growth: -4.48%
• EPS Growth: 61.09%
• Country: UK
• Employees: 102
• Sector: Healthcare
• Sector Strength: 45
• Industry: Medical - Healthcare Information Services
• EPS (TTM): N/A
• Shares Outstanding: 437,018,680
• 10 Day Avg. Volume: 3,807,103
• 30 Day Avg. Volume: 10,033,489
• PEG Ratio: 0.01
• Price to Book (P/B): -1.38
• Price to Sales (P/S): 3.23
• P/FCF Ratio: -0.54
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 40 Underperform
• Price Target: 3.00p ▼(-49.15% Downside)
• Action: Downgraded Date: 02/13/26
• Date: Action: Downgraded 02/13/26

The score is primarily held down by weak financial performance (large ongoing losses, negative free cash flow, and negative equity), reinforced by bearish technical signals with the stock trading below all key moving averages. Valuation contributes only modestly given negative earnings and no dividend support.

Positive Factors

Proprietary Diagnostic Platform

Renalytix's KidneyIntelX is a differentiated, product-led business model: a blood-based diagnostic that blends biomarkers, clinical inputs and ML algorithms. That combination creates a defensible clinical workflow asset tied to patient stratification and care-pathway decisions, supporting durable commercial potential as providers seek earlier intervention tools.

Improving Revenue and Margins

Top-line growth with a marked gross margin improvement signals improving unit economics and initial scale effects. If volume increases continue, higher gross margins reduce the fixed-cost burden per test, creating a clearer pathway to operating leverage and more sustainable profitability over multiple quarters.

Reduced Cash Burn Trajectory

A significant year-over-year reduction in cash burn reflects improved cost control and operational discipline. Sustained improvement in cash outflows lengthens runway and reduces near-term funding urgency, enabling management to focus on commercialization and reimbursement efforts rather than immediate liquidity decisions.

Negative Factors

Weak Balance Sheet

Negative equity is a structural constraint on financial flexibility and typically signals reliance on ongoing external financing. It limits the company's ability to absorb shocks, take on strategic investments without dilution, and can complicate commercial partnerships that prefer counterparty strength.

Continued Heavy Cash Burn

Persistent materially negative free cash flow means the business depends on capital markets or financings to fund operations. Over a multi-quarter horizon this raises execution risk: constrained resources can slow sales hires, lab scale-up, and payer engagement, all of which are needed to convert diagnostic potential into sustainable revenue.

Very Small Revenue Base vs Large Losses

A tiny revenue base coupled with outsized losses implies the cost structure is far above current scale. This magnifies the company's exposure to reimbursement decisions and provider adoption rates; until test volume materially increases, fixed costs and commercialization spend keep profitability distant.

Renalytix Business Overview & Revenue Model

Company Description

Renalytix Plc develops artificial intelligence-enabled in vitro diagnostic solutions for kidney diseases. The company offers KidneyIntelX, a diagnostic platform that employs an artificial intelligence-enabled algorithm that combines various data inputs, including validated blood-based biomarkers, inherited genetics and personalized patient data from electronic health record systems to generate a unique patient risk score. Its products are used in kidney disease diagnosis and prognosis, clinical care, patient stratification for drug clinical trials, and drug target discovery. Renalytix AI plc has a license agreement with Mount Sinai Health System to develop and commercialize licensed products in connection with the application of artificial intelligence for the diagnosis of kidney disease; Joslin Diabetes Center, Inc. for developing and commercializing products for diagnosing and predicting kidney disease using biomarkers; and Kantaro Biosciences LLC for developing and commercializing laboratory tests for the detection of antibodies against SARS-CoV-2. The company also has a partnership agreement with Atrium Health, Wake Forest Baptist Health, and Wake Forest School of Medicine to implement an advanced clinical care model designed to improve kidney health and reduce kidney disease progression and kidney failure in high-risk populations. The company was formerly known as Renalytix AI plc and changed its name to Renalytix Plc in June 2021. Renalytix Plc was incorporated in 2018 and is headquartered in New York, New York.

How the Company Makes Money

Renalytix makes money primarily through the commercialization of its KidneyIntelX diagnostic platform. The company's revenue model involves partnerships with healthcare providers, hospitals, and insurance companies to implement and integrate KidneyIntelX into their patient care systems. By offering a subscription-based or per-test pricing model, Renalytix generates revenue whenever its diagnostic solutions are utilized in clinical settings. Additionally, the company may engage in strategic collaborations with pharmaceutical companies, leveraging its technology for drug development and clinical trial support. These partnerships can provide additional revenue streams through licensing agreements, milestone payments, and data sharing arrangements.

Renalytix Financial Statement Overview

Summary

Despite FY2025 revenue growth and improved gross margin, the company remains far from profitability with very large net losses, heavy negative free cash flow, and negative equity, indicating elevated funding and balance-sheet risk.

Income Statement

Revenue remains very small but improved in the latest year (FY2025 revenue up ~26% to ~3.0m). Profitability is still extremely weak: despite a much better gross margin in FY2025 (~40% vs ~7% in FY2024), operating and net losses remain large (net margin about -680% in FY2025), indicating the cost base is far above current revenue scale. The positive trajectory in losses versus prior years is a strength, but the business is still far from break-even.

Balance Sheet

The balance sheet shows elevated financial risk, with stockholders’ equity turning negative in FY2024 and remaining negative in FY2025, which limits flexibility and typically implies reliance on external funding. Debt is modest in absolute terms (~8.3m in FY2025) but is high relative to the company’s current asset base and negative equity position. Overall, leverage and capitalization metrics signal a stressed balance sheet despite lower debt than earlier years.

Cash Flow

Cash burn remains heavy: operating cash flow and free cash flow were both about -17.9m in FY2025, improving versus FY2024 (about -30.1m) but still meaningfully negative. Free cash flow deterioration versus the prior year (FY2025 down ~22%) highlights volatility in spending and working-capital needs. Cash generation is not yet supported by operating performance, leaving the company dependent on financing to fund operations.

Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	2.37M	3.00M	2.29M	3.40M	2.97M	1.49M
Gross Profit	468.00K	1.20M	156.00K	701.00K	918.00K	687.00K
EBITDA	-23.07M	-21.30M	-28.52M	-41.71M	-52.69M	-32.69M
Net Income	-23.43M	-20.40M	-33.46M	-45.61M	-45.28M	-34.73M
Balance Sheet
Total Assets	11.44M	6.10M	7.97M	42.12M	63.26M	102.58M
Cash, Cash Equivalents and Short-Term Investments	9.63M	3.70M	4.68M	24.68M	41.33M	74.45M
Total Debt	8.21M	8.30M	8.54M	12.15M	12.34M	352.00K
Total Liabilities	12.81M	13.10M	15.83M	23.66M	20.09M	7.48M
Stockholders Equity	-1.37M	-7.00M	-7.85M	6.97M	30.61M	95.10M
Cash Flow
Free Cash Flow	-23.02M	-17.90M	-30.11M	-32.67M	-46.44M	-26.26M
Operating Cash Flow	-23.02M	-17.90M	-30.11M	-32.67M	-45.74M	-24.63M
Investing Cash Flow	18.00K	0.00	-4.00K	0.00	-694.00K	-741.00K
Financing Cash Flow	26.88M	16.00M	10.25M	16.39M	25.52M	77.24M

Renalytix Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 5.90
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Positive
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For GB:RENX, the sentiment is Negative. The current price of 5.9 is above the 20-day moving average (MA) of 4.22, above the 50-day MA of 5.31, and below the 200-day MA of 6.83, indicating a bearish trend. The MACD of -0.62 indicates Positive momentum. The RSI at 26.59 is Positive, neither overbought nor oversold. The STOCH value of 10.34 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for GB:RENX.

Renalytix Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
EKF	67 Neutral	£109.25M	15.58	8.71%	―	-1.43%	28.57%
VRCI	58 Neutral	£8.70M	-0.39	-122.54%	―	-57.03%	-15.71%
Sector *	51 Neutral	$7.86B	-0.30	-43.30%	2.27%	22.53%	-2.21%
GDR	47 Neutral	£11.17M	-1.51	-153.92%	―	90.42%	79.21%
OBD	45 Neutral	£10.73M	-0.25	-407.49%	―	72.17%	79.03%
PRM	42 Neutral	£6.01M	-1.05	―	―	12.19%	18.12%
RENX	40 Underperform	£14.64M	-0.47	425.97%	―	-4.48%	61.09%

Renalytix Corporate Events

Renalytix CEO Boosts Stake as Kidney Disease Test Rollout Advances

Renalytix said Chief Executive James McCullough has increased his stake in the company by purchasing an additional 750 American Depositary Shares at an average price of $3.15 per ADS. Following the latest transaction, he now has an interest in 3,430,096 ordinary shares, representing 0.78% of the company’s issued share capital.

The move underscores management’s ongoing alignment with shareholders as Renalytix advances commercial deployment of its kidneyintelX.dkd prognostic test for diabetic kidney disease. With the product already FDA-approved, Medicare-reimbursed, and supported by real-world clinical data and guideline recommendations, the CEO’s further investment may be viewed as a signal of confidence in the company’s growth prospects and market positioning.

The most recent analyst rating on (GB:RENX) stock is a Sell with a £5.50 price target. To see the full list of analyst forecasts on Renalytix stock, see the GB:RENX Stock Forecast page.

Renalytix CFO Increases Stake as KidneyintelX.dkd Deployment Expands

Renalytix plc reported that interim Chief Financial Officer Joel Jung purchased an additional 500 American Depositary Shares at $2.85 per ADS, increasing his holding to 333,855 ordinary shares, or about 0.07% of the company’s issued share capital. The insider share purchase may be viewed by investors as a sign of confidence in the company’s prospects as it expands commercial deployment of its FDA-approved, Medicare-reimbursed kidneyintelX.dkd diagnostic across U.S. healthcare systems.

Renalytix continues to position kidneyintelX.dkd as a key tool in addressing unrecognized and uncontrolled diabetic kidney disease, which affects tens of millions of patients in the U.S. and U.K. With more than 15,000 patients already tested and strong real-world performance data, the company benefits from full Medicare reimbursement at $950 per reportable result and guideline recommendations, underscoring its growing role in the kidney disease diagnostics market.

The most recent analyst rating on (GB:RENX) stock is a Sell with a £5.50 price target. To see the full list of analyst forecasts on Renalytix stock, see the GB:RENX Stock Forecast page.

Renalytix CFO Increases Stake as Kidney Disease Test Gains Traction

Renalytix announced that interim Chief Financial Officer Joel Jung purchased 2,000 American Depositary Shares at $2.90 per ADS on 11 February 2026, increasing his interest to 308,855 ordinary shares, or about 0.07% of the company’s issued share capital. The insider share purchase may be viewed by investors as a signal of management confidence in the company’s prospects as it continues to deploy its kidneyintelX.dkd diagnostic across U.S. physician groups and health systems.

Renalytix’s kidneyintelX.dkd test has been used in over 15,000 patients, generating real-world data that show higher diagnosis, prognosis and treatment rates in populations where it is deployed. With full Medicare reimbursement at $950 per reportable result and endorsement in international chronic kidney disease guidelines, the test strengthens Renalytix’s competitive position in the kidney disease diagnostics market and could support revenue growth and broader clinical adoption.

The most recent analyst rating on (GB:RENX) stock is a Sell with a £5.50 price target. To see the full list of analyst forecasts on Renalytix stock, see the GB:RENX Stock Forecast page.

Renalytix CEO Increases Stake Amid Expansion of Kidney Disease Test

Renalytix plc announced that Chief Executive Officer James McCullough purchased 3,010 American Depositary Shares of the company on 11 February 2026 at an average price of $3.01 per ADS. Following this transaction, McCullough’s total interest amounts to 3,392,596 ordinary shares, representing 0.78% of the company’s issued share capital.

The CEO’s share purchase signals management confidence in Renalytix’s prospects as it scales deployment of its kidneyintelX.dkd prognostic test in the U.S. market. With established Medicare reimbursement and growing real-world data supporting improved diagnosis and treatment rates, the move may reassure investors about the company’s growth trajectory in the kidney disease diagnostics space.

The most recent analyst rating on (GB:RENX) stock is a Sell with a £5.50 price target. To see the full list of analyst forecasts on Renalytix stock, see the GB:RENX Stock Forecast page.

Renalytix Eyes Revenue Growth as Kidney Diagnostic Expands U.S. Footprint

Renalytix reported unaudited first-half fiscal 2026 revenues of $1.6 million and forecast full-year revenue of about $4 million, a 33% increase year-on-year, as it accelerates electronic medical record integrations for its kidneyintelX.dkd test across U.S. healthcare providers. The company is planning a large-scale integration with a major regional health system, expanding access to potentially more than 40,000 chronic kidney disease patients, while relocating its lab to cut operating costs, advancing a real-world evidence study and Tempus AI collaboration, and preparing new clinical data aimed at driving broader clinical adoption and payer coverage.

The most recent analyst rating on (GB:RENX) stock is a Sell with a £5.00 price target. To see the full list of analyst forecasts on Renalytix stock, see the GB:RENX Stock Forecast page.

Renalytix Adds Three U.S. Kidney Care Integrations and Deepens Tempus AI Collaboration

Renalytix has expanded the clinical footprint of its kidneyintelX.dkd test in the US by completing three new electronic health record-integrated deployments with regional kidney care providers in New York, Florida and Tennessee, with testing now underway and a focus on one-click ordering to encourage gradual growth in utilisation. The company is pursuing a measured, resource-efficient rollout strategy and deepening its collaboration with Tempus AI to integrate kidneyintelX.dkd within major health systems’ electronic records and data infrastructures, supporting future geographic and clinical expansion, while simultaneously stepping up investor engagement at the J.P. Morgan Healthcare Conference ahead of a wider trading and corporate update expected in February 2026.

The most recent analyst rating on (GB:RENX) stock is a Hold with a £5.50 price target. To see the full list of analyst forecasts on Renalytix stock, see the GB:RENX Stock Forecast page.

Renalytix Secures Shareholder Support at AGM and Advances Kidney Disease Diagnostics

Renalytix announced that all resolutions were passed at its Annual General Meeting, reflecting strong shareholder support. The company continues to advance its kidneyintelX.dkd test, which has shown significant improvements in diagnosis and treatment rates for kidney disease, and is now fully reimbursed by Medicare, enhancing its market positioning and impact on healthcare systems.

Renalytix Expands Kidney Disease Test Adoption and Strategic Partnerships

Renalytix has provided an update on its strategic initiatives ahead of its Annual General Meeting, highlighting the progress in expanding the adoption of its kidneyintelX.dkd test across key states in the U.S. The company has secured a significant partnership with Tempus AI Inc to enhance patient and clinician access to its test, aiming to drive substantial growth through strategic partnerships and EHR integrations. Additionally, Renalytix is transitioning to a new laboratory facility to increase testing capacity and reduce operational costs, positioning the company for sustainable revenue growth and long-term value creation for shareholders.