Immunotec lifts Europe sales 66% as expansion gains traction

Immunotec said European network sales rose 66% over two years, driven by growth in both new and established markets across 20 countries. The Houston-based wellness company says stronger profitability and cash flow are helping fund continued global expansion.

Why it matters: - Immunotec’s European momentum is now a larger part of the company’s business, lifting the region’s share of total revenue from 14.4% to 21.4%. - The gains suggest the company’s international push is scaling beyond one-off market launches and into a broader growth engine. - Improved profitability and cash generation give Immunotec more room to keep investing in expansion.

What happened: - Immunotec reported European network sales of $26.9 million in the first nine months of 2026 across 20 European markets. - That was up 65% from $16.3 million in the same period of 2024. - European network sales were up 66% over the past two years. - The Houston-based company said its expansion into new European markets and continued growth in existing ones drove the results. - CEO Mauricio Domenzain said the company is strengthening established markets, building momentum in new ones and creating more opportunities for customers and independent business builders.

The details: - Immunotec expanded into 11 additional European markets, which became a major growth driver. - In those newer markets, January-August network sales rose from about $120,000 in 2024 to $3.8 million in 2026. - That represents more than 31 times the earlier level. - September 2026 was the strongest sales month on record for those markets, at 3.1 times the level of September 2025. - Active customers in the newer markets increased more than tenfold over two years. - Established European markets generated about 54% of the region’s reported incremental growth. - Newer markets contributed the remaining 46%. - Immunotec said the split shows it can enter new countries while still strengthening its existing business. - The company cited customer engagement, product accessibility and long-term business growth as core parts of its expansion strategy. - Immunotec has nearly three decades of experience in glutathione science and holds 81 patents. - The company operates in 31 global markets.

Between the lines: - The European numbers point to a more balanced growth profile than a pure new-market launch story. - That matters because established-market growth usually signals staying power, while newer-market gains show the company can still find white space. - The financial trend also matters: revenue rose from $145 million in 2023 to $190 million in 2025, while EBITDA increased from $15.0 million to $24.5 million. - Gross margin improved from 76.1% to 77.3%. - Cash conversion improved from 20% in 2024 to 45% in 2025. - CFO Luis Ascencio said the company has focused on financial strength and operational discipline to scale responsibly.

What's next: - Immunotec said it plans to keep investing in global growth as 2026 continues. - The company is leaning on stronger financial fundamentals to support further international expansion. - Continued performance in Europe will likely be a key test of whether the company can sustain its current pace.

The bottom line: - Immunotec is turning European expansion into a larger, more profitable part of the business, with new markets and legacy markets both contributing to growth.