NEW YORK — Yourgene Health on Thursday reported a 10 percent increase in revenues for its fiscal year 2021 on strong performance of its SARS-CoV-2 testing business in the UK and molecular genetics products in Europe.
For the 12-month period ended March 31, UK-based Yourgene posted revenues of £18.3 million ($25.6 million) versus £16.6 million the year before.
Noninvasive prenatal testing revenues fell 22 percent overall to £7.8 million from £10.0 million in fiscal 2021 due to the impact of the SARS-CoV-2 pandemic, but were up 38 percent year over year within the European market, in part reflecting the impact of Yourgene's acquisition of French distribution partner AGX-DPNI about a year ago.
Molecular genetics revenues, which include research services and sales of Yourgene's DPYD chemotoxicity test, rose to £3.7 million in fiscal 2021 from £3.0 million the year before, a 23 percent increase. Reproductive Health revenues stayed flat at £3.6 million. Meanwhile, revenues from COVID-19 testing services and the company's Clarigene SARS-CoV-2 test, which did not exist the previous year, generated £3.2 million during the 12-month period.
"The business has performed well in delivering double-digit growth in the most challenging set of market dynamics," Yourgene CEO Lyn Rees said in a statement. "Whilst recruiting and onboarding new customers continues to be a longer process than in pre-pandemic times, our more localized sales organization is well placed to convert a strong pipeline of opportunities for the year ahead."
Earlier this month, Yourgene said that it has been successful with its tender for the UK's National Microbiology Framework, under which it will supply its Clarigene assay and associated clinical lab testing services to Public Health England. It has also struck partnerships with Newcastle Premier Health and MyHealthChecked to provide COVID-19 testing services to Leeds Bradford Airport and Boots UK, respectively.
For fiscal year 2022, Yourgene continues to expect revenues in excess of £25 million.