BLIS Technologies (BLT) H1 2025 earnings summary

Executive summary

• Revenue for the six months to 30 September 2024 increased 25% year-over-year to $6.0m, with both B2B and B2C channels contributing to growth despite challenging macroeconomic conditions.

• Net surplus was $0.2m, reversing a $0.7m loss in the prior year period; EBITDA was $0.3m, up from a $0.6m loss.

• Strong performance in key markets, new distribution partnerships, and regulatory progress in China supported results.

• Focused on core growth drivers, particularly BLIS K12 and BLIS M18 ingredients, aiming for sustained profitability.

• A patent dispute emerged in late September 2024 involving confidential fermentation process information; negotiations are ongoing.

Financial highlights

• Revenue rose to $5.99m from $4.78m year-over-year; B2B revenue up 23% to $3.8m, B2C up 29% to $2.2m.

• Net surplus of $229k compared to a $670k loss in the prior year; basic EPS at 0.02 cents versus (0.05) cents.

• EBITDA improved by $0.9m year-over-year, reaching $0.3m.

• Net cash inflow from operating activities was $0.7m; cash and equivalents plus short-term deposits totaled $8.9m at period end.

• $0.3m in regulatory expenditure for China market access included in results.

Outlook and guidance

• Focus remains on sustainable revenue growth and improved profitability across B2B and B2C channels.

• Continued investment in regulatory access for China and ongoing negotiations regarding the patent dispute.