Prenetics Global (PRE) Q4 2025 earnings summary

Executive summary

• Achieved record FY2025 revenue of $92.4 million, up 480% year-over-year, driven by the IM8 brand launch reaching $120 million ARR in its first year.

• Completed a strategic pivot to a pure-play consumer health model, divesting ACT Genomics, Europa, and Insighta, and strengthening the balance sheet to $171 million liquidity with zero debt.

• IM8 accounted for $60.1 million in FY2025 revenue, with 40% from the U.S. and 60% international, and rapid adoption in over 30 countries.

• Clear roadmap to adjusted EBITDA profitability by Q4 2027, supported by improving unit economics and operating leverage.

• Board changes included the addition of Dr. Darshan Shah and the resignation of Andy Cheung.

Financial highlights

• Q4 2025 revenue surged 457% year-over-year to $36.6 million, up 55% sequentially; Q4 gross profit was $21.7 million, up over 800% year-over-year.

• Full-year 2025 gross profit was $48.9 million, up 428%, with a consolidated gross margin of 53%.

• Adjusted EBITDA loss improved by 27% to $13 million in 2025; Q4 adjusted EBITDA loss was $2.3 million, a 70% improvement year-over-year.

• IM8 generated $60.1 million in 2025 revenue at a 63% gross margin; CircleDNA delivered $12.9 million at 85% gross margin.

• Loss from continuing operations for 2025 was $55 million, mainly due to non-cash and non-recurring items.

Outlook and guidance

• FY2026 IM8 revenue guidance is $180–$200 million, nearly 300% year-over-year growth, with a target 60% gross margin.

• Adjusted EBITDA loss for 2026 expected at $16–$20 million, with profitability targeted by Q4 2027.

• Targeting $250–$300 million in ARR by year-end 2026.

• Two new health supplement SKUs planned for launch in Q4 2026, targeting large addressable markets.

• Revenue guidance does not include contributions from new products.