Diaceutics Plc (LSE:DXRX) has used its autumn calendar to push a bigger story about the reach of precision medicine. Interim results for the six months to 30 June 2026, published on 22 September, showed annual Recurring Revenue up 79%, and on 14 October the company held a Capital Markets webinar under the banner Precision for All, a repositioning intended to widen the range of therapies it can address.

What the company does

Diaceutics, headquartered in Belfast, sells data, analytics and consulting services that help pharmaceutical companies get targeted therapies to the right patients through diagnostic testing. It floated on AIM in March 2019, with 69,583,077 ordinary shares admitted at the time. Its Relay platform, which supports partnerships with drug developers, is central to the recurring revenue model that management now emphasises.

Interim results

According to the interim announcement, annual recurring revenue rose 79% to 29.4 million pounds, while revenue rose 22% at constant currency to 17.5 million pounds. The order book grew 38% to 43.7 million pounds. Gross Margin increased to 85%, and free Cash Flow was positive at 0.7 million pounds, an improvement of 3.1 million pounds on the prior period.

Earlier, on 29 July 2026, LSE:DXRX had flagged 75% growth in annual recurring revenue as supporting revenue and profit visibility, so the interim figure shows a further step up between the two announcements.

Partnerships and strategy

On 24 September 2026 Diaceutics and Syndax announced an expansion of their Relay partnership, and on 20 August LSE:DXRX and PCC launched a next-generation sequencing concordance study. The Precision for All repositioning is designed to significantly expand the universe of therapies the company can serve. The company said its Relay platform is showing solid pipeline traction and substantial increases in recurring revenue, which underpins the sharp rise in the annual figure and supports the case for a larger addressable market across the pharmaceutical sector.

Shareholders and dealings

The company has seen a run of holding notifications in October 2026, on the 7th, 12th and 26th, alongside regular share incentive plan purchases by directors and managers reported on 6 October and 4 November. The company also set up an expert advisory panel in September 2020 to work with Stakeholders on precision medicine and patient access to treatment, part of the diagnostic network it has built.

Sector and index context

Diaceutics sits in the healthcare data corner of AIM, where investors weigh long-cycle pharmaceutical contracts against the visibility that subscription-style revenue brings. LSE:DXRX's performance is tied to drug developers continuing to invest in diagnostic strategy and launch support for targeted therapies, and to the pace at which new precision medicines reach market.

Key risks

Reliance on a relatively small number of large pharmaceutical customers, the lumpiness of contract timing, currency movements against sterling and the cost of scaling the platform are the main uncertainties. Annual recurring revenue growth also has to translate into sustained profit and cash generation, which the company has only just begun to show on a free cash flow basis.

What to watch next

Investors will look for a trading update ahead of the 2026 year end, further Relay Partnership expansions, and any evidence that the Precision for All push is adding new customers and therapy areas. The conversion of the 43.7 million pound order book into revenue will be the key measure.