Redcliffe Labs posts Rs 419 Cr revenue in FY25; narrows EBITDA losses

Diagnostics platform Redcliffe Labs has posted a 20% increase in its operating revenue to Rs 419 crore in FY25 from Rs 350 crore in FY24, as per the company’s press release. The Gurugram-based firm also managed to reduce its EBITDA losses from -38% to -21% during the same period.

Founded by Aditya Kandoi, Redcliffe operates a nationwide network of over 80 labs and claims to have the widest home sample collection footprint in the country. Diagnostic services contributed over 95% of the company’s revenue in FY25, with the rest coming from product sales and other operating income.

The company said it diagnosed over 2.5 million cases last fiscal and continues to focus on expanding in underserved regions, with more than 70% of its testing volumes now coming from Tier II cities and beyond.

On the profitability front, Redcliffe reported a gross margin of 70% in FY25 and is aiming to expand it to 74% in FY26. It has also set a revenue target of Rs 560 crore for the ongoing fiscal through organic growth and strategic acquisitions.

“We are transforming lives and making diagnostics a first-line solution for millions who were previously underserved,” said Kandoi. The company plans to expand its presence to over 300 cities with 150 labs by FY28.

According to startup data platform TheKredible, Redcliffe has raised $113 million to date, including a $42 million Series C round led by LeapFrog. It also acquired Bengaluru-based Celara Diagnostics in a $7 million deal.

Redcliffe competes with players like PharmEasy-owned Thyrocare, which reported Rs 687 crore in revenue and Rs 91 crore profit in FY25; Tata 1mg, which posted Rs 1,968 crore topline in FY24; and Healthians, which recorded Rs 250 crore revenue in FY24.