Results · Healthcare & Life Sciences

Redcliffe Labs reports 20% revenue growth in FY25

What they do

Redcliffe Labs offers diagnostic tests and health checkup packages across India

FY25 operating revenue rose 20% to ₹419 crore; EBITDA loss narrowed to -21% from -38%

The company aims for ₹560 crore revenue in FY26 and quarterly EBITDA positivity by H2 FY26

Redcliffe Labs reported its financial results for the fiscal year ending March 2025 (FY25).
The company's operating revenue grew 20% year-on-year to ₹419 crore from ₹350 crore in FY24.
Its EBITDA loss (earnings before interest, taxes, depreciation and amortisation; a measure of operating profitability) improved from -38% of revenue in FY24 to -21% in FY25.
The gross margin (revenue minus the direct cost of delivering services) was over 70% in FY25.
Redcliffe Labs diagnosed over 2.5 million patients during the year.
More than 70% of diagnostic volumes came from non-metro areas, and over 1.8 million samples were processed from Tier 2 and smaller cities.
Customer growth in Tier 2+ cities was 27% in FY25.

The results show Redcliffe Labs is narrowing losses while expanding its reach beyond big cities.
The company's focus on non-metro markets differentiates it from many competitors that concentrate on urban centres.
Redcliffe Labs has raised $113 million to date, including a $42 million Series C led by LeapFrog.
It acquired Bengaluru-based Celara Diagnostics for $7 million to strengthen its presence.

Redcliffe Labs operates 80+ self-owned labs and claims the widest home sample collection network in India.
It has 2,000+ collection centres and 1,500+ trained phlebotomists (professionals who draw blood).
Diagnostic services contributed over 95% of FY25 revenue; the rest came from product sales and other income.
The company offers doctor-curated health checkup packages, smart reports with colour-coded insights, expert consultation, AI assistance, and personalised diet plans.
It also runs Femcliffe, India's first she-centric diagnostic platform, and GeneCliffe genetic testing packages.
Redcliffe Labs guarantees 100% report accuracy or money back and processes samples at certified labs with reports verified by MD pathologists.

Redcliffe Labs targets ₹560 crore in revenue for FY26.
It aims for a gross margin of 74-75% in FY26.
The company forecasts quarterly EBITDA positivity by the second half of FY26 (H2 FY26).
It plans to serve 150+ cities and scale to 100+ labs and 220+ cities by the end of FY26.
By FY28, it aims to reach over 300 cities with 150 labs through organic expansion and acquisitions.