Biome Australia (BIO) AGM 2024 summary

Opening remarks and agenda

• Meeting opened with confirmation of quorum and valid proxies representing 50,664,848 voting shares.

• Voting conducted by poll, with each shareholder entitled to one vote per share held.

• Notice of meeting taken as read, and agenda included financial statements, director and auditor reports, and several resolutions.

Financial performance review

• FY24 sales reached AUD 13 million, up 80% year-on-year, with Q1 FY25 sales at AUD 4.25 million and adjusted EBITDA of AUD 122,000.

• Gross margin maintained above 60%, increasing from 54% at IPO to 61%.

• Cash at bank as of September 30 was AUD 2.67 million.

• Same store sales in pharmacy for Q1 up 68% year-on-year, indicating strong organic growth.

Board and executive committee updates

• Ms. Dominique Fisher re-elected as director by ordinary resolution.

• Board and executive team commended for managing rapid growth and maintaining operational efficiency.