Tissue Regenix (TRX) AI Stock Analysis

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Tissue Regenix

(LSE:TRX)

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Neutral 49 (OpenAI - 5.2)

Rating:49Neutral

Price Target:

7.00p

▼(-3.45% Downside)

Tissue Regenix faces significant financial and operational challenges, reflected in its negative earnings and reliance on external funding. Technical indicators suggest bearish momentum, and recent corporate events highlight financial instability. While there are strategic efforts to improve, the immediate outlook remains cautious.

Positive Factors

Intellectual Property Strength

Securing an EU patent and MDR certification enhances Tissue Regenix's competitive edge by protecting its technology and ensuring compliance with stringent medical regulations, which can facilitate market expansion and product adoption.

Product Line Expansion

The increase in orders for demineralized bone matrix products indicates growing demand and acceptance in the market, which can drive revenue growth and strengthen the company's position in the regenerative medicine sector.

Growth in dCELL Business

The 10% growth in the dCELL business demonstrates successful market penetration and product effectiveness, suggesting a robust segment that can contribute to long-term revenue stability and expansion opportunities.

Negative Factors

Revenue Decline

The decline in group revenues indicates challenges in maintaining sales momentum, which could affect the company's ability to achieve profitability and sustain operations without strategic adjustments.

Regulatory Challenges

Regulatory delays can hinder product distribution and revenue generation, posing risks to the company's market access and operational efficiency, which are critical for long-term growth and stability.

Financial Strain

Financial strain from reduced revenues and profitability increases reliance on external funding, which can limit financial flexibility and pose risks to the company's ability to invest in growth initiatives.

Tissue Regenix (TRX) vs. iShares MSCI United Kingdom ETF (EWC)

Market Cap

£5.16M

Dividend YieldN/A

Average Volume (3M)778.41K

Price to Earnings (P/E)―

Beta (1Y)-0.29

Revenue Growth-20.31%

EPS Growth-19.35%

CountryUK

Employees82

SectorHealthcare

Sector Strength45

IndustryBiotechnology

Share Statistics

EPS (TTM)>-0.01

Shares Outstanding71,395,640

10 Day Avg. Volume807,890

30 Day Avg. Volume778,414

Financial Highlights & Ratios

PEG Ratio1.27

Price to Book (P/B)1.78

Price to Sales (P/S)1.85

P/FCF Ratio-9.29

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)N/A

Revenue Forecast (FY)N/A

Tissue Regenix Business Overview & Revenue Model

Company DescriptionTissue Regenix Group plc, a medical technology company, develops and commercializes platform technologies in the field of tissue engineering and regenerative medicine in the United States and internationally. It operates through BioSurgery, Orthopaedics & Dental, and GBM-V & Cardiac divisions. The company provides dCELL technology, a soft tissue decellularisation process that removes DNA and cellular material from animal and human soft tissue to repair diseased or damaged body parts; and BioRinse technology, a natural bone filler solution for osteoinductive to stimulate and regenerate native bone growth. In addition, the company provides DermaPure, a decellularised dermal allograft for reinforcement, repair, and replacement of damaged or inadequate integumental tissue and other homologous uses of human integument; and SurgiPure XD, Decellularised porcine dermal reconstructive tissue matrix for the repair of hernias and body wall defects. Further, it offers OrthoPure XT, a scaffold to replace the damaged tissue that will re-populate with the patient's own cells; ConCelltrate 100, a verified osteoinductive bone matrix; MatrixCellect 100, a demineralised bone matrix (DBM) for orthopaedic; Matrix IQ Dermis, a human-derived dermal graft, which is decellularised to remove cellular components and preserve the biological properties that promote revascularisation, repair, and augmentation of damaged tissue; and Matrix OI FlexIt, a thin pliable demineralised cortical allograft bone sheet. Additionally, the company provides DentalFix, a mineralized particulate allograft that offer osteoconductive properties of natural bone; CardioPure products; Matrix OI 100 DBM for non-structural bone-grafting; Matrix OI Strips and Blocks, a stem cell containment human scaffold; AmnioWorks for ophthalmology and wound covering; and sports medicine products. The company was incorporated in 2006 and is based in Garforth, the United Kingdom.

How the Company Makes MoneyTissue Regenix generates revenue primarily through the sale of its tissue-based products to hospitals, clinics, and other healthcare providers. The company's revenue model is built on the commercialization of its advanced wound care and orthopedic products, which are sold under various brand names. TRX also benefits from partnerships with healthcare institutions and distributors that help expand its market reach. Additionally, the company may engage in collaborations or licensing agreements that provide upfront payments and royalties, further contributing to its earnings. The growth of its revenue is influenced by the increasing demand for regenerative medicine solutions and advancements in surgical techniques.

Tissue Regenix Earnings Call Summary

Earnings Call Date:Sep 30, 2025

(Q2-2025)

% Change Since: |

Next Earnings Date:Jun 04, 2026

Earnings Call Sentiment Negative

The earnings call highlighted several positive developments, such as growth in specific product lines, new patents, and certifications. However, these were overshadowed by significant revenue declines, issues with regulatory approvals, and financial challenges. While there are strategic efforts underway to address these issues, the current financial and operational setbacks present substantial challenges.

Q2-2025 Updates

Positive Updates

Growth in dCELL Business

Despite challenges, the dCELL business grew by 10% year-over-year in H1 2025.

EU Patent and MDR Certification

Received an EU patent for the dCELL process and MDR certification, securing IP protection and compliance with new medical device regulations.

Increase in Demineralized Bone Matrix Orders

Orders for demineralized bone matrix products increased by 4% in H1 2025.

Publication of OrthoPure XT Clinical Results

The 5-year clinical results of OrthoPure XT were published in the Journal of Experimental Orthopaedics.

Negative Updates

Revenue Decline

Group revenues were down 6% in H1 2025 compared to H1 2024, with the BioRinse business down 7% and dCELL business down 4%.

Decrease in Gross Profit

Gross profit decreased due to lower yields from donor tissue and increased inventory costs.

Impact of CFG Delays

Delays in Certificates of Foreign Government impacted regulatory approvals, leading to a 45% decrease in the RDT business.

Decline in Strategic Partner Orders

Orders from a specific strategic partner decreased by 37% in H1 2025.

Increased Financial Strain

Decreased revenues and gross profit led to reduced EBITDA and increased reliance on revolving credit.

Company Guidance

During the investor presentation call for Tissue Regenix Group plc, the management team, including Executive Chairman Jay LeCoque, Chief Executive Officer Daniel Lee, and Interim Chief Financial Officer Brandon Largent, provided an overview of the company's financial performance and strategic initiatives. The company reported a 6% decline in group revenues for the first half of 2025 compared to the previous year, with the U.S.-based BioRinse business down 7% and the dCELL business down 4%. Despite these downturns, orders for demineralized bone matrix products increased by 4%, and the dCELL direct business grew by 10%. Gross profit decreased due to lower production yields and increased inventory costs, while adjusted EBITDA also fell year-over-year. The team highlighted significant advancements, such as receiving an EU patent for the dCELL process and MDR certification for the OrthoPure XT product. They also addressed issues related to delays in obtaining Certificates of Foreign Governments from the FDA, impacting the release donor tissue business, which saw a 45% decrease. The management team emphasized their commitment to strengthening the company's commercial approach, reviewing cost structures, and expanding geographically, despite current regulatory headwinds, to ensure sustainable long-term growth.

Tissue Regenix Financial Statement Overview

Summary

Tissue Regenix shows signs of operational improvement with better gross margins and reduced operating losses. However, the path to profitability remains challenging with continued net losses and negative cash flows. While the equity position provides some financial stability, increased leverage and reliance on external funding could pose risks.

Income Statement

The company has shown improvement in its gross profit margin, increasing from previous years, indicating better cost management. However, the net profit margin remains negative, reflecting ongoing challenges in achieving profitability. Revenue growth has been inconsistent, with fluctuations observed over the years. While the EBIT and EBITDA margins have improved, they remain low, highlighting the need for further operational efficiencies.

Balance Sheet

The company maintains a strong equity base, with a healthy equity ratio, suggesting financial stability. However, the debt-to-equity ratio has increased, indicating higher leverage, which could pose risks if not managed carefully. Return on equity remains negative due to net losses, underscoring the need for improved profitability to enhance shareholder value.

Cash Flow

Cash flow from operations has been negative, impacting the company's ability to internally fund its activities. The free cash flow remains negative, highlighting potential liquidity constraints. The company has relied on financing activities to support its cash position, which could be unsustainable in the long term if operating cash flows do not improve.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	13.80M	28.65M	29.49M	24.48M	19.75M	12.83M
Gross Profit	5.77M	13.62M	14.04M	9.14M	5.63M	5.13M
EBITDA	5.00K	1.36M	446.00K	-1.04M	-3.04M	-9.03M
Net Income	-934.00K	-713.00K	-1.71M	-2.69M	-4.79M	-9.71M
Balance Sheet
Total Assets	47.19M	45.35M	43.24M	38.27M	34.13M	36.73M
Cash, Cash Equivalents and Short-Term Investments	1.07M	1.87M	4.65M	4.95M	5.69M	9.55M
Total Debt	11.00M	10.46M	9.39M	9.61M	7.95M	7.22M
Total Liabilities	18.56M	16.29M	13.89M	13.00M	9.47M	8.88M
Stockholders Equity	29.36M	29.82M	30.15M	31.25M	25.35M	28.46M
Cash Flow
Free Cash Flow	-252.00K	-5.70M	177.00K	-2.29M	-3.93M	-6.84M
Operating Cash Flow	-202.00K	-1.64M	1.04M	-1.41M	-2.45M	-5.47M
Investing Cash Flow	-592.00K	-4.06M	-837.00K	-1.08M	-2.04M	-1.86M
Financing Cash Flow	-2.00K	3.28M	-1.51M	910.00K	-192.00K	17.68M

Tissue Regenix Technical Analysis

Technical Analysis Sentiment

Negative

Last Price7.25

Price Trends

50DMA

7.25

Positive

100DMA

13.53

Negative

200DMA

23.18

Negative

Market Momentum

MACD

-0.11

Negative

RSI

12.03

Positive

STOCH

50.00

Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For GB:TRX, the sentiment is Negative. The current price of 7.25 is above the 20-day moving average (MA) of 7.25, above the 50-day MA of 7.25, and below the 200-day MA of 23.18, indicating a neutral trend. The MACD of -0.11 indicates Negative momentum. The RSI at 12.03 is Positive, neither overbought nor oversold. The STOCH value of 50.00 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for GB:TRX.

Tissue Regenix Peers Comparison

Overall Rating

UnderperformOutperform

Sector (51)

Financial Indicators

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
OXB	56 Neutral	£879.08M	-21.48	-74.64%	―	55.44%	75.77%
Sector *	51 Neutral	$7.86B	-0.30	-43.30%	2.27%	22.53%	-2.21%
SBTX	50 Neutral	£50.46M	-61.52	-11.24%	―	283.74%	78.57%
TRX	49 Neutral	£5.16M	-4.90	-5.41%	―	-20.31%	-19.35%
HEMO	43 Neutral	£36.85M	-2.82	-609.30%	―	―	―

* Healthcare Sector Average

Performance Comparison

GB:TRX

Tissue Regenix

7.25

-51.25

-87.61%

GB:HEMO

HemoGenyx Pharmaceuticals Plc

624.00

231.50

58.98%

GB:SBTX

SkinBioTherapeutics

20.30

4.30

26.88%

GB:OXB

Oxford BioMedica

751.00

341.00

83.17%

Tissue Regenix Corporate Events

Business Operations and StrategyDelistings and Listing ChangesPrivate Placements and FinancingShareholder Meetings

Tissue Regenix Secures £7.5m Lifeline as Shareholders Back Delisting from AIM

Positive

Dec 22, 2025

Shareholders of Tissue Regenix have approved all resolutions at a general meeting, enabling the issue of an initial £7.5m tranche of secured convertible loan notes from Harwood Private Equity, funding that management says is essential to restore payments to creditors, stabilise operations and execute a recovery plan aimed at returning the company to profitability. The vote also clears the way for the company’s shares to be delisted from AIM on 7 January 2026, after which Tissue Regenix will re-register as a private limited company and offer shareholders periodic trading through the Asset Match secondary market, marking a significant shift in its capital markets presence while securing short-term financial viability for its regenerative medicine business.

The most recent analyst rating on (GB:TRX) stock is a Hold with a £7.00 price target. To see the full list of analyst forecasts on Tissue Regenix stock, see the GB:TRX Stock Forecast page.

Business Operations and StrategyDelistings and Listing Changes

Tissue Regenix Faces Financial Uncertainty Amid Share Cancellation Plans

Negative

Dec 8, 2025

Tissue Regenix has announced an update regarding the proposed cancellation of its shares, citing ongoing financial challenges and uncertainty in its trading position. Despite expecting to remain solvent if certain resolutions are passed, the company will keep trading in its ordinary shares suspended until the cancellation date on January 7, 2026. A matched bargain facility will be available for shareholders to trade shares for at least a year post-cancellation, indicating efforts to maintain some level of liquidity and shareholder engagement.

The most recent analyst rating on (GB:TRX) stock is a Hold with a £7.00 price target. To see the full list of analyst forecasts on Tissue Regenix stock, see the GB:TRX Stock Forecast page.

Business Operations and StrategyDelistings and Listing ChangesPrivate Placements and Financing

Tissue Regenix Secures £17.5M Funding and Plans AIM Delisting

Neutral

Dec 4, 2025

Tissue Regenix has announced a conditional fundraising of £17.5 million through Secured Convertible Loan Notes to Harwood Private Equity, an existing substantial shareholder. Alongside this, the company plans to cancel its AIM listing due to disproportionate costs and limited benefits, re-register as a private entity, and adopt new articles of association. This strategic move is intended to streamline operations and provide a more cost-effective capital access, impacting its market presence and shareholder engagement.