Inspiration Healthcare Group Plc · LSE:IHC
Inspiration Healthcare — FY2026 Earnings Presentation
37 slides from Inspiration Healthcare's earnings presentation, Jun 16, 2026
Slide 1: Inspiration Healthcare Group FY26 Results Presentation
Inspiration Healthcare Group FY26 Results Presentation June 16th 2026
Slide 2: Disclaimer
Disclaimer While the information contained herein has been prepared by Inspiration Healthcare Group plc (“Inspiration”) in good faith, neither it nor any of its directors, officers, agents, advisers, affiliates or employees makes any representation or warranty, express or implied, nor shall any of t
Slide 3: Agenda
Agenda FY26 Highlights FY26 Financial Review Business Direction Short & Mid Term Outlook and Q&A Appendices 3
Slide 4: FY26 Highlights
INSPIRATION FY26 Highlights
Slide 5: FY26 in Summary
FY26 in Summary Operations Product strategy • Completion of biggest single export order for SLE 6000 & • Entry to US market is top priority of R&D, ongoing project 1500 for a global humanitarian organisation and first part continues with FDA filing expected late-’27, clearance H1 of Middle Eastern o
Slide 6: FY26 Financials
FY26 Financials
Slide 7: FY26 Financial Highlights
FY26 Financial Highlights Revenue £47.5m (FY25: £38.3m) Inventory £8.8m (31 January 25: £13.1m) Gross 43.7% Margin (FY25: 42.8%) Operating £7.5m Cash Flow (FY25 £(1.5)m) Adjusted £2.8m EBITDA1 (FY25: £0.2m) Net £5.1m Debt2 (FY25: £8.3m) Operating £0.1m Loss (FY25: £14.7m) 1 Earnings before interest,
Slide 8: FY26 Revenue
FY26 Revenue Group revenue +24% driven by SLE products which include large one-off export orders, underlying growth of 10% in SLE excluding these large orders Inspiration Healthcare revenue -11% as a result of de- stocking by one of the Infusion homecare providers. Infusion product sales of £9.7m Ai
Slide 9: FY26 Income Statement
FY26 Income Statement FY26 FY25 £’000 £’000 Revenue 47,547 38,251 Gross Profit 20,761 16,378 • Gross margin improved due to increased Gross margin 43.7% 42.8% sales of capital items Admin. expenses ex non-recurring items (19,971) (18,262) • Operating expenses +9% driven by Other income 269 - commiss
Slide 10: FY26 Movement in Net Debt – 39% reduction
FY26 Movement in Net Debt – 39% reduction • Net debt reduced by 39% (£3.2m) over the year to £5.1m • Strong operating cash generation from EBITDA and improved working capital management • Further inventory reduction of £1-1.5m expected in FY27 • R&D Tax credits for 3 years received • Airon final con
Slide 11: Business performance & direction
Business performance & direction
Slide 12: From 'Back to Basics' – To Growth & Leadership
From ’Back to Basics’ – To Growth & Leadership Short-term – Strengthen the basics Mid-term – Build for growth Long-term – Lead the market Drive Sales Drive Sales Drive Sales Re-engage with our distributors Drive international expansion – AsiaPac, US neonatal market entry Restructure UK sales and Lat
Slide 13: Three Business Units With Clear Focus
Three Business Units With Clear Focus 1 2 3 Neonatal Ventilation Medtech Distribution Specialty Ventilation Brand Positioning Global innovation leader UK/Ireland medtech Global champion in neonatal ventilation distribution partner in pneumatic ventilation Neonatal ventilators, SLE vents, other neona
Slide 14: FY26 highlights FY27 priorities
FY26 highlights FY27 priorities • Sales growth 56% to £31.6m driven by major • Growing funnel of opportunities in AsiaPac and projects in Central Asia and Middle East LatAm, maintain MENA and Central Asia • Capital +86% • Share gain in Europe • Consumables: +14% • Launch of consumables range (Q1 and
Slide 15: FY26 highlights FY27 priorities
FY26 highlights FY27 priorities • Sales declined by 11% to £13.9m (FY25 £15.6m) overall • Transition on Infusion Therapies to an entity division (ex-SLE) controlled directly by the principal, Micrel • Transfer or personnel on July 1st 2026, with Micrel UK • Biggest contributor, Infusion Therapies de
Slide 16: FY26 highlights FY27 priorities
FY26 highlights FY27 priorities • Sales declined by 13% to £2.1m (FY25 £2.4m) • Execution of major contract of 150 devices, also driving future consumables sales • Slow update from exclusive national distributor • Online sales portal operational and include • Delay of major contract with a large hea
Slide 17: Growth of SLE
INSPIRATION Growth of SLE
Slide 18: Grow SLE Globally - Total Solution Provision in Neonatal Ventilation
Grow SLE Globally - Total Solution Provision in Neonatal Ventilation 1 2 3 4 Back to Basics Sales & Operational Supply Chain, Organisational Customer 24-25 Marketing Inventory efficiency focus Efficiency Excellence 1 2 3 4 Focus on Core Growth & US market Expansion in EU Own Strengthen 26-27 penetra
Slide 19: Grow SLE Globally - Longer term: Total Solution in Neo Ventilation
Grow SLE Globally - Longer term: Total Solution in Neo Ventilation Technology acquisition Devices opportunity Consumables Launch of own consumables Decision Clinical partnerships & studies Tools Clinical marketing Education Services Launch of SaaP Current offerings Future goal
Slide 20: Accelerating roadmap delivery
Accelerating roadmap delivery Identified potential technology platform NEO VENT MARKET $200M 5% CAGR • Accelerates roadmap by 3-4 years -> nCPAP - <5% comprehensive coverage of Neonatal care pathway share for SLE HFO: 30% share • Conventional & Non-Invasive ventilation needs in step down for SLE and
Slide 21: Outlook and Q&A
INSPIRATION Outlook and Q&A
Slide 22: Outlook FY27 – Strong Performance With Underlying Growth
Outlook FY27 – Strong Performance With Underlying Growth Positive outlook • Orderbook and opportunity pipeline provide confidence in meeting full-year market expectations • Launch of own branded consumables on track and service KPIs improving • Further Working Capital reduction with inventory decrea
Slide 23: Thank you
INSPIRATION Thank you
Slide 24: Appendix
INSPIRATION Appendix
Slide 25: Inspiration Healthcare Group History
Inspiration Healthcare Group History Build on the strong legacy of three brands
Slide 26: Inspiration Healthcare Group - Serving Three Distinct Markets
Inspiration Healthcare Group - Serving Three Distinct Markets Inspiration Healthcare designs, manufactures and markets pioneering medical technology that saves lives and improves the outcomes of patients starting with the very first breath of life • Own Brand capital and consumable products with IP
Slide 27: Broad Portfolio of Innovative, Specialist Products
Broad Portfolio of Innovative, Specialist Products Key Neonatal Products Key Airon Products Breathing Circuits SLE Ventilators pNeuton Model A pNeuton Mini First BreathTM nCPAP Inspire nCPAPTM Inspire rPAPTM Neonatal Airon • Core focus area with a high level of expertise • Fully pneumatic ventilator
Slide 28: Neonatal Care
INSPIRATION Neonatal Care
Slide 29: Neonatal Intensive Care: A Growing Core Market Despite Changing Dynamics
Neonatal Intensive Care: A Growing Core Market Despite Changing Dynamics Global Growth Drivers Changing Market Dynamics • Saturation in adult ventilation market driving new entrants resulting in more aggressive Increase in healthcare Increase in premature competition in neonatal segment infrastructu
Slide 30: Neonatal ICU Environment
Neonatal ICU Environment Monitoring system Nutrition support Warmer / Phototherapy Neonatal (SLE) ventilator ECG Incubator Thermoregulatory mattresses Humidifier Source for the photo: Neonest Hospital, India
Slide 31: Competitive Landscape in Neonatal Space
Competitive Landscape in Neonatal Space Not exhaustive, work in progress Premium provider Value provider Niche market player Diversified portfolio provider Ventilation Other NICU
Slide 32: Grow SLE Globally - Total Market for Neo Ventilation is ~$460m
Grow SLE Globally - Total Market for Neo Ventilation is ~$460m Neo Ventilators Neo Cons. & Access. Numbers rounded SLE: 7-8% share FY25 SLE: <3% share FY25 Global market size in value Global market size in value of ventilators sold in 2024 ~$200m of C&A sold in 2024 ~$260m Global market size in numb
Slide 33: Grow SLE Globally - Opportunity: US Market Expansion
Grow SLE Globally - Opportunity: US Market Expansion If consumables, accessories and service are included, • Market is dominated by pure Pure neonatal ventilators ICU derivative ventilators ~10% market size is ~$120m. neonatal ventilators i.e., Draeger & Getinge. It is also served by ICU vents and J
Slide 34: Inspiration Healthcare
Inspiration Healthcare UK&I Distribution Partner
Slide 35: Inspiration Healthcare - Products
Inspiration Healthcare - Products Distributed Products Own products Monsoon Jet Ventilator – LifeStart – enabling delayed cord specialised surgeries clamping in delivery rooms Gas Blenders rPAP generator – resuscitation support Consumables Thermoregulation consumables Sucrose 35
Slide 36: Specialty Ventilation
Specialty Ventilation Airon Pneumatic Ventilators
Slide 37: Specialty Ventilators - Airon
Specialty Ventilators - Airon Global Growth Drivers Market Opportunities Unique pneumatic technology ideal Leverage IHC global distribution for transport and MRI network to increase footprint Synergies with core neonatal Expansion into new therapy areas: ventilation segment Transport, Emergency Serv
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