Business
Prenetics Announces First Quarter 2025 Financial Results, Raises FY2025 Outlook, & Crypto Strategy Announcement Soon
Revenue grew 336.5% to $14.4 million from prior year (excluding ACT Genomics)Raises full year revenue outlook to $80 - $100 million (excluding ACT
About this update from Prenetics Global Limited
[{"type":"text","content":"Revenue grew 336.5% to $14.4 million from prior year (excluding ACT Genomics)Raises full year revenue outlook to $80 - $100 million (excluding ACT Genomics)IM8 contributed $5.7 million in Q1, with $2.8 million in March alone & provides Q2 revenue projectionsIM8 has more than 55,000 customers with 4.9 million servings delivered and countingDetails of crypto strategy and Bitcoin adoption to be announced soon as part of innovative treasury approach CHARLOTTE, N.C., June 12, 2025 (GLOBE NEWSWIRE) -- Prenetics Global Limited (NASDAQ: PRE) (“Prenetics” or the “Company”), a leading health sciences company, today announced unaudited financial results for the first quarter ended March 31, 2025, along with recent business updates. First Quarter 2025 Financial Highlights Revenue from continuing operations of $17.3 million in the first quarter 2025, an increase of 169.9% as compared to the first quarter 2024.Revenue from our consumer business1, normalized to exclude ACT Genomics, of $14.4 million in the first quarter 2025, an increase of 336.5% as compared to the first quarter 2024.Gross profit from continuing operations of $7.3 million in the first quarter 2025, an increase of 94.1% as compared to the first quarter 2024.Adjusted EBITDA2 loss from continuing operations of $(6.5) million in the first quarter 2025, an increase of 59.4% as compared to the first quarter 2024.Adjusted EBITDA loss from our consumer business, normalized to exclude ACT Genomics, of $(4.8) million in the first quarter 2025, an increase of 123.7% as compared to the first quarter 2024.Cash and other short-term assets3 of $78.0 million and the Company remained debt-free as of March 31, 2025. Management CommentaryDanny Yeung, Chief Executive Officer and Co-Founder, remarked: “The first quarter of 2025 marked an exceptionally strong start for Prenetics, with financial performance that significantly surpassed expectations and strategic advancements that position us for accelerated growth. We are thrilled to report robust momentum, with revenue increasing by an impressive 336.5% year-over-year to $14.4 million (excluding ACT Genomics). Our strategic realignment towards the global consumer healthcare market is gaining tremendous traction. This strong start to the year is reflected in our revised full year outlook for the year in which we are raising our revenue expectations...