Bubs Australia (BUB) Q1 2026 TU earnings summary

Executive summary

• Net revenue rose 30% year-over-year to $25.6m for Q1 FY26, with gross profit margin at 46.4% and EBITDA of $0.5m, reversing a $4.3m loss in the prior year period.

• Cash and cash equivalents stood at $12.9m, with an additional $10.0m in undrawn debt facilities, totaling $22.9m in available liquidity at quarter end.

• Inventory rebuild led to a net operating cash outflow of $4.4m, with expectations of continued negative operating cash flow in Q2 as inventory levels are restored.

• Strong USA sales performance offset by declines in China, Australia, and Rest of World due to stock availability challenges.

• Positive engagement with the FDA continues, with approval expected by end of 2025.

Financial highlights

• Net revenue: $25.6m, up from $19.7m in Q1 FY25.

• Gross profit margin: 46.4%, up from 43% in prior year.

• EBITDA: $0.5m, compared to a $4.3m loss year-over-year.

• Operating cash outflow: $4.4m for the quarter.

• Cash reserves: $12.9m at quarter end.

Outlook and guidance

• Inventory shortages expected to be resolved by the end of the current quarter.

• Continued negative operating cash flow anticipated in Q2 as inventory rebuild completes.

• FDA approval for US products anticipated by end of 2025.