Arterra Bioscience (ARBS) Q2 2024 TU earnings summary

Executive summary

• Revenue for the first half of 2024 reached €2.3 million, up 43.18% year-over-year.

• Growth attributed entirely to increased sales of cosmetic raw materials.

• Management expresses confidence in meeting 2024 targets, citing continued positive trends.

Financial highlights

• Total revenue for 1H 2024: €2.3 million, compared to €1.6 million in 1H 2023 (+43.18%).

• Sales of cosmetic raw materials: €1.91 million, up 49.03% year-over-year.

• Service revenues: €366,150, up 18.8% from €308,200 in 1H 2023.

Outlook and guidance

• Management remains optimistic about achieving full-year 2024 objectives, supported by strong first-half performance.