Me Today (MEE) H1 2025 earnings summary

Executive summary

• Net loss for the six months ended 31 December 2024 narrowed to NZ$2.4 million from NZ$7.3 million, with revenue increasing to NZ$3.74 million, up 64% year-over-year.

• Operating EBITDA loss decreased 19% year-over-year to $1.79 million, reflecting improved cost management and revenue growth.

• Me Today branded and agency revenue rose 55% to $2.69 million, with full-year gross revenue expected to exceed $5.0 million.

• The company is actively seeking a sale of the King Honey subsidiary and considering a capital raise, with founding shareholders indicating support.

• China partner achieved performance targets, triggering a 20% ownership transfer in the Greater China trademark.

Financial highlights

• Revenue rose 64% year-over-year to NZ$3.74 million, driven by growth in New Zealand and international markets.

• Net loss narrowed to NZ$2.4 million from NZ$7.3 million year-over-year.

• Operating cash outflow was NZ$1.0 million, improved from NZ$1.9 million outflow in the prior year.

• Basic and diluted loss per share was NZ$0.045, compared to NZ$0.470 in the prior year.

• Cash and cash equivalents at period end were NZ$1.63 million, down from NZ$2.84 million at 30 June 2024.

Outlook and guidance

• Full-year gross branded and agency revenue projected to exceed $5.0 million, with operating EBITDA loss expected to be less than $1.6 million.

• Board remains confident in the Group's ability to meet financial obligations, supported by ongoing bank support and a potential capital raise.

• USA sales expected to surpass $500k in 2025, and Japan sales orders of NZ$500k to ship in March 2025.

• Directors acknowledge inherent uncertainty in future forecasts but believe current cash and indicated capital raise support provide sufficient headroom.

• Sale of King Honey remains a strategic priority, though no formal offer has been received.