Biome Australia (BIO) H2 2024 earnings summary

Executive summary

• Achieved record FY24 sales revenue of $13.01m, up 80% year-over-year, with gross margin rising to ~61%.

• Reached positive cash flow and EBITDA in H2 FY24 for the first time since inception.

• Expanded distribution to over 5,000 points, with international sales up 95% to $894k.

• Launched three new products and prepared Biome Cholesterol™ Probiotic for FY25 launch.

• Market cap surpassed $100m, reflecting increased market confidence.

Financial highlights

• Revenue increased 80% to $13,008,897 (FY23: $7,235,611).

• Gross margin improved to 61% (FY23: 54%).

• Net loss after tax reduced by 45.7% to $1,670,202 (FY23: $3,078,527 loss).

• Cash at year-end: $2,868,526; net assets: $2,903,528.

• Same store sales in Australian pharmacy channel grew 75% year-over-year.

Outlook and guidance

• Biome Cholesterol™ Probiotic set for launch in Q1 FY25.

• Vision 27 strategic plan to be released in Q1 FY25, focusing on international expansion and new clinical research.

• Ongoing clinical trials for Biome Lift™, Biome Osteo™, and Biome Daily Kids™ with results expected in FY25.