Your Partner for Growth, Hybridan

Hybridan

Your Partner for Growth

Our passion is raising growth capital for exciting, fast growth companies that want to take their business to the next level. We raise capital for companies both listed and unlisted in the most efficient manner possible and pride ourselves as being one of the few consistently profitable broking firms in the City. This has been achieved through a highly disciplined approach when seeking to create both corporate and institutional relationships.

Equity Bottom-Up

<ul>
<li>The Interims to 31 October 2025 reported a 2% decrease in Revenue to £1,685k and a 5% reduction in Administration Expenses to £1,618k, while Gross Margins improved marginally to 87%.</li>
<li>Given the general inflationary background, the lower administration costs suggest strong operational control and discipline.</li>
<li>The interim loss after tax rose to £99k from a £1k profit last year, which is largely due to a £164k reduction in Grant Income and £5k less in R&amp;D tax credit. </li>
</ul>


The Interims to 31 October 2025 reported a 2% decrease in Revenue to £1,685k and a 5% reduction in Administration Expenses to £1,618k, while Gross Margins improved marginally to 87%.
Given the general inflationary background, the lower administration costs suggest strong operational control and discipline.
The interim loss after tax rose to £99k from a £1k profit last year, which is largely due to a £164k reduction in Grant Income and £5k less in R&amp;D tax credit. 


<ul>
<li>
<strong>Chesterfield Special Cylinders Holdings 39.50p £15.08m (CSC.L)</strong> The provider of bespoke, high-pressure gas containment solutions and services reported its audited results for the year ended 27 September 2025.</li>
<li>The Company enjoyed a revenue increase of 12% to £16.6m from £14.8m in 2024, with gross profit up 22% to £6.4m at a 39% margin.</li>
<li>The reported loss before tax was £0.8m compared to £2.7m in 2024. </li>
</ul>



Chesterfield Special Cylinders Holdings 39.50p £15.08m (CSC.L) The provider of bespoke, high-pressure gas containment solutions and services reported its audited results for the year ended 27 September 2025.
The Company enjoyed a revenue increase of 12% to £16.6m from £14.8m in 2024, with gross profit up 22% to £6.4m at a 39% margin.
The reported loss before tax was £0.8m compared to £2.7m in 2024. 


Hybridan Small Cap Feast: 18 December 2025

<ul>
<li>Despite bureaucratic headaches, the final results to 30 April report a 5% increase in revenue to £3.5m and a reduced loss to £94.8k.</li>
<li>The P&amp;L comparison with 2024 is awkward due to changes in accounting practises and the £4.7m impairment charge.</li>
<li>The FY 2025 loss was affected by a sharp decline in allowable R&amp;D which was down to £80k from £212k due to HMRC’s new restrictions on overseas development.</li>
</ul>


Despite bureaucratic headaches, the final results to 30 April report a 5% increase in revenue to £3.5m and a reduced loss to £94.8k.
The P&amp;L comparison with 2024 is awkward due to changes in accounting practises and the £4.7m impairment charge.
The FY 2025 loss was affected by a sharp decline in allowable R&amp;D which was down to £80k from £212k due to HMRC’s new restrictions on overseas development.


Hybridan Research: DXS International plc: NHS Opportunity Remains

<ul>
<li>DXS’s ExpertCare, a digital solution platform, is selected for the Grow Digital Health Midlands Programme.</li>
<li>This Programme is a collaboration between Health Innovation East and West Midlands, to provide a platform to encourage digital innovation to address the NHS most pressing challenges.</li>
<li>DXS will be exposed to the largest NHS England region, encompassing 11 Integrated Care Systems, and a population of approximately 11.8m people.</li>
</ul>


DXS’s ExpertCare, a digital solution platform, is selected for the Grow Digital Health Midlands Programme.
This Programme is a collaboration between Health Innovation East and West Midlands, to provide a platform to encourage digital innovation to address the NHS most pressing challenges.
DXS will be exposed to the largest NHS England region, encompassing 11 Integrated Care Systems, and a population of approximately 11.8m people.


Hybridan Research: DXS International plc: Experts to Decide

Tortilla Mexican Grill PLC / Equity Bottom-Up

<ul>
<li>The high-growth operator with a portfolio of assets across key Colombian hydrocarbon basins provides an update on the operational activity at the Mateguafa Attic field on the Tapir Block in the Llanos Basin of Colombia where Arrow holds a 50% beneficial interest.</li>
<li>The well was put on production at a heavily restricted rate, 21/128 choke and 30 Hz pump frequency, of around 230 BOPD gross (115 BOPD net).</li>
<li>The oil quality is 31° API and there is a 78% water cut (completion fluid and formation water). </li>
</ul>


The high-growth operator with a portfolio of assets across key Colombian hydrocarbon basins provides an update on the operational activity at the Mateguafa Attic field on the Tapir Block in the Llanos Basin of Colombia where Arrow holds a 50% beneficial interest.
The well was put on production at a heavily restricted rate, 21/128 choke and 30 Hz pump frequency, of around 230 BOPD gross (115 BOPD net).
The oil quality is 31° API and there is a 78% water cut (completion fluid and formation water). 


Tortilla Mexican Grill PLC - Hybridan Small Cap Feast: 28 January 2026

United Kingdom

DXS International PLC is an independent software vendor. The Company provides computer software solutions for healthcare providers and hospitals.

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DXS International (DXSP PZ)

Hybridan Research: DXS International PLC

The Interims to 31 October 2025 reported a 2% decrease in Revenue to £1,685k and a 5% reduction in Administration Expenses to £1,618k, while Gross...

Hybridan

Hybridan Small Cap Feast: 18 December 2025

The provider of bespoke, high-pressure gas containment solutions and services reported its audited results for the year ended 27 September 2025.

Hybridan

Hybridan Research: DXS International plc: NHS Opportunity Remains

Despite bureaucratic headaches, the final results to 30 April report a 5% increase in revenue to £3.5m and a reduced loss to £94.8k.

Hybridan

Hybridan Research: DXS International plc: Experts to Decide

DXS will be exposed to the largest NHS England region, encompassing 11 Integrated Care Systems, and a population of approximately 11.8m people.

Hybridan

Tortilla Mexican Grill PLC - Hybridan Small Cap Feast: 28 January 2026

The well was put on production at a heavily restricted rate, 21/128 choke and 30 Hz pump frequency, of around 230 BOPD gross (115 BOPD net).

Hybridan

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