An excellent Q1 trading update, highlighting strong Tutivia adoption, notably volumes +32% QoQ to 392 (Q4 25, 296) and +34% YoY (Q1 25, 292). Positively, the increase reflects higher utilisation in existing centres, as well as growth from new transplant centres (seven new centres ordered during the period). Importantly, an additional centre has now included Tutivia within its clinical protocol, taking total clinical protocols to two. In our view, this provides compelling evidence of Tutivia’s differentiated offering, especially within the most complex cases of kidney transplants. Whilst forecasts will be introduced in due course, the early momentum reinforces our confidence in the longer-term outlook. BUY.