Median Technologies reported revenue gains for the first half of the 2026 fiscal year.
The company's revenue reached 11.8 million euros ($13.6 million U.S.) for the period ending on June 30, up 4% from 11.4 million euros in the same period of 2025, as costs to build the U.S. commercial organization for its eyonis lung cancer screening software pushed losses higher.
All of the company’s revenue came from its iCRO business, which provides imaging services and AI-based image analysis for oncology clinical trials. The unit posted record third-quarter revenue of 6.7 million euros ($7.7 million U.S.), up 14.4% year-over-year, bringing year-to-date revenue to 18.5 million euros ($21.3 million U.S.), an 8% increase. The company said its order backlog reached a record 90.9 million euros ($104.5 million U.S.) at the end of September.
Personnel costs for the first half rose to 18.6 million euros ($21.4 million U.S.) from 10.7 million euros, including 8.6 million euros in noncash share-based payments, while external costs increased to 9.4 million euros ($10.8 million U.S.) from 8.9 million euros. iCRO-related costs and expenses for the eyonis U.S. buildout drove these costs, the company said. Eyonis received U.S. Food and Drug Administration (FDA) 510(k) clearance in February.
Median’s operating loss widened to 17.2 million euros ($19.8 million U.S.) from 9.3 million euros, and its net loss grew to 26.9 million euros ($30.9 million U.S.) from 9.2 million euros, largely due to noncash items, including a 7.5 million-euro charge related to the fair value of European Investment Bank warrants.
The company said it expects to generate its first eyonis revenue in the first half of 2027.
