IntegraGen: Reduced H1 2026 Loss, Cash Down to €174K, Still Under Judicial Reorganisation
On October 29, 2026, IntegraGen published its estimated, unaudited results for the first half of 2026, the first prepared since the opening of its judicial reorganisation on June 15, 2026.
The net loss narrowed to €1,054K, compared with €1,407K a year earlier, while cash fell from €1,115K at the end of 2025 to €174K as of June 30.
These accounts have not yet been approved by the Board of Directors and remain subject to adjustment. The company believes it can finance its activities until at least the end of 2026, but indicates that the continuation of its operations remains subject to the outcome of the ongoing appeals before the Paris Court of Appeal.
Revenue Down 23%, Operating Expenses Down 15%
The specialist in cancer and rare genetic disease genomics recorded revenue of €1,981K in the first half of 2026, compared with €2,564K a year earlier, a decline of 23%. The company attributes this decrease to the context of the collective insolvency proceedings.
Operating subsidies and other income reached €484K, compared with €173K in the first half of 2025. This amount includes €354K from the reversal of the restructuring provision set up at the end of 2025, following the layoffs carried out during the period. Total income stood at €2,465K, compared with €2,737K.
Operating expenses excluding depreciation and amortisation fell by 15%, to €3,546K from €4,181K. Raw material purchases decreased by 29%, personnel costs by 9%, and other external charges by 11%, in line with the cost-reduction plan launched at the end of 2025.
A Reduced Loss Including a €354K Provision Reversal
EBITDA came to -€1,081K, compared with -€1,444K a year earlier, and operating income to -€1,097K, compared with -€1,479K. The company specifies that this EBITDA includes provision reversals, including the €354K related to the restructuring: part of the reduction in losses therefore relies on this accounting item.
The net loss amounted to -€1,054K, compared with -€1,407K in the first half of 2025, after taking into account a financial result of €8K and a tax credit of €35K. This loss weighs directly on the balance sheet.
Estimated shareholders' equity fell from -€909K at December 31, 2025 to -€1,962K at June 30, 2026. Over the same period, trade receivables declined from €1,000K to €528K, while tax and social liabilities rose from €1,056K to €1,343K.
Financial debt remains stable at €305K. Repayment of the state-guaranteed loan (PGE) is frozen due to the proceedings, which limits short-term cash outflows linked to debt.
IntegraGen Believes It Can Finance Its Activities Until the End of 2026, Subject to the Outcome of the Appeals
Based on its updated cash flow forecasts, IntegraGen believes it can finance the continuation of its activities until at least the end of 2026. The accounts have been prepared on a going concern basis, which the company qualifies with a significant uncertainty linked to the ongoing proceedings.
The public prosecutor appealed both rulings handed down on October 9, 2026 by the Évry Commercial Court. The first approved the company's asset disposal plan in favour of ABL Diagnostics, and the second ordered the conversion of the judicial reorganisation into judicial liquidation.
These appeals suspend the enforcement of both rulings. The offer accepted on October 9 provided, according to information made public at that date, for a price of €100,000 and the takeover of 16 employees, whereas the company states it will have 28 employees after restructuring.
At this stage, the company cannot specify the timetable of the appeal proceedings and recalls that the suspensive effect does not prejudge their outcome. It states that the continuation of its activities does not guarantee the preservation of the value of the shares.
Shareholders remain exposed to the risk of a partial or even total loss of their investment. IntegraGen held €174K in cash as of June 30, 2026, for an activity it believes can be financed until at least the end of 2026.
