Unaudited Interim Results to 30 June 2025

About this update from Probiotix Health Plc

    8 September 2025   ProBiotix Health plc ("ProBiotix" or the "Company" or, together with its subsidiary, the "Group")   Unaudited Interim Results to 30 June 2025   ProBiotix Health plc (AQSE: PBX), the life sciences business developing probiotics to support cardiometabolic health, announces its unaudited results for the six months to 30 June 2025.   Key Financial Highlights   ·    Gross revenue +33% to £1.34m (H1 2024: £1.01m) ·    Gross profit +33% to £748,000 (H1 2024: £564,000) ·    EBITDA loss (excluding share-based payments) reduced by 52% to £112,000 (H1 2024: £232,000 loss) ·    Growth in all markets with sales outside USA +127% to £584,000 (H1 2024: £257,000) ·    Strong cash balance of £1.3m (H1 2024: £865,000) ·    Current trading robust with order book at a record level   Operational Highlights   ·    A number of new commercial partnerships secured across Europe, the US and Asia Pacific ·    Appointment of new sales executive in the US expected to drive further growth in North America ·    First commercial manufacturing of LP LDL completed through our CMO partnership in Canada ·    Launch of two new menopause-focused women's health concepts - YourBiotix MH and YourBiotix PMH ·    Initiated discussions with the Steno Research Foundation in Denmark, to explore a clinical study investigating the potential effects of LP LDL in individuals with diabetes   Steen Andersen, CEO of ProBiotix, commented: "We are pleased with the progress that has been achieved in the first half of 2025, which has resulted in another record performance. The increasing consumer awareness and market focus on preventive cardiometabolic supplement products continues to expand at an impressive pace (CAGR over the next 5-year period >8%), reflecting the growing demand for effective, science-backed health solutions.   "The successful product launches by our partners achieved over the past few years, and the accelerating consumer acceptance, confirms our belief in the tremendous long-term potential for the Company. We remain committed to executing the growth strategy to deliver sustainable value for shareholders, and look forward to reporting further on our progress."   For further information, please contact:   ProBiotix Health plc https://probiotixhealth-ir.com/   [email protected] Steen Andersen, Chief Executive Officer Miles Nolan, Investor Relations   Peterhouse Capital Limited Aquis Corporate Adviser and Broker       Mark Anwyl Duncan Vasey   Tel: 020 7469 0930   This announcement contains information which, prior to its disclosure, was considered inside information for the purposes of the UK Market Abuse Regulation and the Directors of the Company are responsible for the release of this announcement.   Notes to Editors:   ProBiotix is a life sciences company that develops probiotic formulations to support cardiometabolic health. Since its formation, ProBiotix has become recognised as a global leader in microbiome modulating probiotics for use in food supplements and nutraceuticals.   The Company has a singular approach: discovering ground breaking probiotics, ensuring their benefits through robust science, and bringing to market effective finished probiotic-based products for human health across the globe.   Chief Executive Officer's overview The first half of 2025 delivered strong and satisfactory progress across all areas of the business, with revenue growth exceeding previous years while maintaining gross margin profitability. The strategic execution and optimisation measures implemented in previous periods are beginning to show tangible results, providing a strong foundation for a sustainable full-year performance. The Company continued to strengthen its position in core markets across Europe and North America, while also making significant strides in the APAC region. In particular, long-term commercial partnerships established in China and Korea are beginning to contribute positively, despite being in the early stages of development. The sustained investment in R&D has resulted in the launch of new innovative products targeting the cross-over consumer segment between women's health and cardiometabolic health. These product introductions are gaining early traction, and reinforce our reputation as an innovative first mover and reliable provider of turnkey product solutions in the preventive cardiometabolic space. The Company's focused strategy of working closely with contract manufacturers has started to deliver cost efficiencies, providing further opportunities to enhance long-term profitability . Revenue for the first six months of 2025 reached £1.34 million, a 33% increase compared with the same period in 2024. At the same time, EBITDA loss (excluding share based payments) for the period was reduced by 52% to £112,000, from £232,000 last year. The Board and Management are very pleased with the results delivered in the first half of the year as it provides clear evidence that our strategy is effective and positions the Company well for continued profitable growth. Strategic Outlook Building on the solid track record of recent years, the Company remains committed to its vision of reaching £10 million in revenue, and an estimated 20% EBITDA by the end of the financial year in 2028. This ambitious goal continues to serve as the primary catalyst for our operational strategies and growth initiatives. The Company's strategic pillars and KPIs remain focused around five core pillars: ·    Commercial Expansion: accelerating organic growth by leveraging the existing product portfolio, targeting new regional and global customers within the dietary supplement sector. The efforts include expanding commercial platforms across Europe and North America, alongside establishing a dedicated presence in the Asia-Pacific region via our own sales force and a strategic partnership model. ·    Value Proposition: aim to broaden the market reach through a phased expansion from cholesterol-related products to encompass broader cardiometabolic health solutions, ultimately targeting the metabolic aspect of the healthy ageing segment. ·    Customer Value & Barriers: reinforcement of the competitive position and increasing customer loyalty by offering finished-format, turnkey solutions to key market segments, thereby building barriers to entry for competitors. ·    Product & Clinical Innovation: identification of new targeted, clinically documented strains and innovation of novel dosage formats, catering to specific consumer needs in the Healthy Ageing space. Expanding the science network and exploring new indication areas through clinical trials to support long-term growth. ·    Cost Optimisation: the consolidation of manufacturing partnerships in Europe and North America to leverage bargaining power, optimise profitability and effectively mitigate the negative impact of price pressures as the market matures. Progress Highlights   Commercial Development During the first half of 2025, new commercial partnerships were successfully established and advanced across Europe, North America, and Asia-Pacific, underpinning the Company's growth momentum. The Company's sales pipeline continued to expand robustly in all regions, including China and South Korea. North America   ·      Two new product launches were successfully executed in H1 2025 with leading brands Solaray and Life Extension. ·      The existing partnership with Seed delivered substantial growth, supported by Seed's ongoing success with existing products and aggressive expansion into new distribution channels. ·      Significant efforts were made to position LP LDL as the leading cholesterol prevention supplement ingredient within direct-to-consumer and online distribution channels. Europe   ·      Eifron (Greece) launched a cholesterol product containing LP LDL , with early consumer acceptance pointing to substantial growth potential. ·      Key projects with European partners made notable progress, with potential launches anticipated in late 2025/early 2026. ·      Existing European partnerships with HLH and Klinge Pharma continued to demonstrate positive growth trajectories as consumer awareness around cardiometabolic health increases. Asia-Pacific   ·      In China, an exclusive partnership with Kemin for sales of LP LDL was launched in early 2025 and is already showing promising commercial progress, confirming the long-term growth potential in this key market. ·      Import and cross-border sales by Dancare into China increased significantly, validating consumer demand for preventive cholesterol product solutions. ·      In Korea, leading influencer company P.Bros was onboarded through the Company's strategic partner TopHealth, covering online pharmaceutical distribution channels, with first response from the market anticipated in Q3 2025. The Company maintains its instrumental focus on executing on the strategic pillars, and capitalising on market developments to drive sustainable growth and value creation for all stakeholders. Marketing   ·    In the first half of the year, our marketing efforts have made significant strides in positioning the Company as a preferred partner among global B2B stakeholders.   ·    The Company successfully executed targeted direct marketing and outreach campaigns, to strengthen the sales project pipeline and expanded the engagement with key business partners. ·    Comprehensive measurement frameworks to monitor and drive progress on active sales initiatives, ensuring a data-driven approach that supports sustainable growth was implemented. These initiatives collectively enhance our market presence and lay a solid foundation for continued revenue expansion.    Operations   ·      The first commercial manufacturing of LP LDL was completed through the Company's strategic contract manufacturing partnership (CMO) in Canada. This partnership enhances supply security, drives cost efficiencies, and mitigates risks associated with the US trade environment. Importantly, local manufacturing capability in North America allows for a stronger competitive advantage in the region.   ·      Significant progress in identifying additional European-based finished-format CMOs to diversify our manufacturing footprint was obtained. One new CMO is anticipated to join the existing network by the first half of 2026, further supporting risk mitigation and the optimisation of production costs.   Research & Development   ·      A comprehensive clinical protocol in collaboration with our commercial partner, Ornyx in Albania was developed. The aim is to facilitate Ornyx's market expansion in the region and complete the Company's clinical portfolio on LP LDL  and cholesterol, which was temporarily halted during the COVID-19 pandemic. Ethical committee approval is anticipated in Albania by late 2025, with the trial expected to conclude in late 2026.   ·    Discussions with the Steno Research Foundation in Denmark were initiated to explore a clinical study investigating the potential effects of LP LDL in individuals with diabetes. This aligns with our strategic focus to diversify into the broader healthy ageing market, further expanding the Company's clinical evidence base.   Organisational Development To bolster our commercial activities in North America, a highly experienced American sales executive was appointed in Q1 2025. The strategic aim is to establish a strong local presence and drive a robust sales pipeline by leveraging existing and new networks. This pivotal role is vital for the strategic objective to penetrate the North American market over the next two to three years.   Results   The Group delivered a strong trading performance during the period, with revenue increasing by 33% to £1.34 million (2024: £1.006 million). Gross profit rose to £0.748 million (2024: £0.564 million), maintaining a robust gross margin of 55% (2024: 55%).   EBITDA loss, excluding share-based payment expense, improved markedly, reducing by 52% to £0.112 million (2024: £0.232 million). This improvement was driven primarily by increased sales volumes and continued operational efficiencies.   The net loss for the period reduced by 42% to £0.150 million (2024: £0.261 million).   The Group concluded the period with cash and cash equivalents of £1.299 million, compared to £0.865 million at the prior year end, reflecting strengthened liquidity and prudent cash management.   Outlook We are pleased to report that the Company is firmly on track to deliver against our strategic objectives. Over the past few years, the Company has successfully established a solid organisational foundation with strengthened manufacturing capabilities, a burgeoning sales pipeline, and ongoing clinical development efforts. These crucial elements position the Company well to capitalise on and maintain a leading position within the rapidly growing market for cardiometabolic health and cholesterol-lowering supplements. The increasing consumer awareness and market focus on preventive cardiometabolic supplement products continues to expand at an impressive pace (CAGR over the next 5-year period >8%), reflecting the growing demand for effective, science-backed health solutions. The successful product launches by our partners achieved over the last few years, and the accelerating consumer acceptance, confirms our belief in the tremendous long-term potential for the Company. The Board and Management remain committed to executing the growth strategy to deliver sustainable value for shareholders. We extend our sincere gratitude to our shareholders for their continued support, patience, and dedication. Your confidence fuels our efforts, and together, we are confident in our ability to achieve our vision of becoming a leading provider in this dynamic and expanding market. We look forward to updating you on our continued progress and future milestones.   Consolidated Statement of Comprehensive Income For the 6 months to 30 June 2025                               6 months to 30 June 2025 Unaudited 6 months to 30 June 2024 Unaudited Year ended 31 December 2024 Audited Continuing operations     £'000 £'000 £'000           Revenue 1,344 1,006 1,883           Cost of sales (596) (442) (886)   ─────── ─────── ─────── Gross Profit   748 564 997     Share based payments   (16) (10) (26) Depreciation and amortisation   (25) (26) (68) Other administrative costs   (860)                          (796)                      (1,755)       ─────── ─────── ─────── Total administrative expenses   (901) (832) (1,849)     ─────── ─────── ─────── Operating (loss)/profit   (153) (268) (852)       Finance income / (costs)   - - -   ─────── ─────── ─────── Profit/(Loss) before Income tax   (153) (268) (852)     Income tax   3 7 5   ─────── ─────── ─────── Profit/(Loss) for the period   (150) (261) (847)       Other Comprehensive Income   - - -     ─────── ─────── ─────── Total comprehensive income for the period     (150)   (261)   (847)   ═══════ ═══════ ═══════     Total comprehensive income attributable to the owners of the Group   (150) (261)                            (847)     ═══════ ═══════ ═══════   (150) (261) (847) Earnings/(loss)   per share     Basic & Diluted - pence 4 (0.09)p (0.21)p (0.63)p   ═══════ ═══════ ═══════     Consolidated Statement of Financial Position As at 30 June 2025   Notes As at 30 June  2025 Unaudited As at 30 June  2024 Unaudited As at 31 December  2024 Audited ASSETS   £'000 £'000 £'000 Non-current assets   Intangibles   211 275 236 Property plant and equipment   7 - 7   ─────── ─────── ───────     218 275 243     ─────── ─────── ─────── CURRENT ASSETS     Inventories   17 95 31 Trade and other receivables   846 631 257 Cash and cash equivalents   1,299 865 1,646   ─────── ─────── ───────     2,162 1,591 1,934   ─────── ─────── ─────── TOTAL ASSETS   2,380 1,866 2,177   ═══════ ═══════ ═══════ EQUITY     Shareholders' Equity     Called up share capital 5 79 61 79 Group reorganisation reserve   (945) (945) (945) Share premium   4,534 3,338 4,534 Share based payment reserve   57 67 41 Retained Earnings   (1,936) (1,241) (1,786)       ─────── ─────── ─────── Total Equity   1,789 1,280 1,923     ─────── ─────── ─────── LIABILITIES     Current liabilities     Trade and other payables   538 520 194   ─────── ─────── ───────   538 520 194   ─────── ─────── ─────── Non - current liabilities     Deferred tax liability   53 66 60   ─────── ─────── ───────   53 66 60   ─────── ─────── ─────── TOTAL LIABILITIES   591 586 254     ─────── ─────── ───────       TOTAL EQUITY AND LIABILITIES   2,380 1,866 2,177         ═══════ ═══════ ═══════ Consolidated Statement of Changes in Equity For six months to 30 June 2025   Called up Share Capital Share premium Group Reorganisation reserve Share-based Payment reserve Retained Earnings Total Equity £'000 £'000 £'000 £'000 £'000 £'000 ────── ─────── ─────── ─────── ────── ─────── Balance at 31 December 2023 61 3,338 (945) 57 (980) 1,531 Loss for the period - - - - (261) (261) Share based payments - - - 10 - 10 ────── ─────── ─────── ─────── ────── ─────── Balance at 30 June 2024 61 3,338 (945) 67 (1,241) 1,280 Loss for the period - - - - (586) (586) Forfeiture of share options - - - (41) 41 - Share based payments - - - 15 - 15 Share Issue 18 1,208 - - - 1,226 Share issue costs - (12) - - - (12) ────── ─────── ─────── ─────── ────── ─────── Balance at 31  December 2024 79 4,534 (945) 41 (1,786) 1,923 Loss for the period - - - - (150) (150) Share based payments - - - 16 - 16 ────── ─────── ─────── ─────── ────── ─────── Balance at 30 June 2025 79 4,534 (945) 57 (1,936) (1,789)   ────── ─────── ─────── ─────── ────── ───────   Consolidated Statement of Cash Flows For the six months to 30 June 2025       Notes 6 months to 30 June 2025 Unaudited Period to 30 June 2024 Unaudited Year ended 31 December 2024 Audited   £'000 £'000 £'000 Reconciliation of loss before income tax to cash outflow from operations   Operating (loss)/profit   (153) (268) (852) Decrease/ (Increase) in inventories         14 8 72 (Increase)/decrease in trade and other receivables   (589) (366) 8 (Decrease)/increase in trade and other payables   343 (46) (381) Share based payments   16 10 26 Depreciation and amortisation   25 26 53 Write off intangible asset   - - 14 Net Fx Difference   (3) (1) -   ────── ────── ────── Net cash outflow from operations   (347) (637) (1,060)     Tax received   - - -   ────── ────── ────── Net cash (outflow)/inflow from operating activities   (347) (637) (1,060)   Cash flows from investing activities     Purchase of intangible assets   - - (10)   ────── ────── ────── Net cash (outflow)/inflow from investing activities   - - (10)   ────── ────── ────── Cash flows from financing activities   Share issue net of costs   - - 1,214   ────── ────── ────── Net cash inflow from financing activities   - - 1,214   ────── ────── ──────   Increase/(decrease) in cash and equivalents   (347) (637) 144     Cash and cash equivalents at beginning of period   1,646 1,502 1,502   ────── ────── ────── Cash and cash equivalents at end of period   1,299 865 1,646   ══════ ══════ ══════         Notes to the results   For the six months to 30 June 2025   1.    General Information         ProBiotix Health plc is a c om p a n y i n c o r p o rat e d a n d d om i c il e d in England and Wales. T h e Com p a n y ' s o ffic e s are in Wakefield. T h e C om p a n y is l i st e d o n t h e Aquis Growth M ar ke t (tic ke r: PBX).   The financial information set out in this report does not constitute statutory accounts as defined in Section 434 of the Companies Act 2006.  The Group's statutory financial statements for the period ended 31 December 2024 were prepared under UK - adopted  International Financial Reporting Standards ("IFRS").   Copies of the annual statutory accounts and the Half Yearly report can be found on the Company's website https://probiotixhealth-ir.com/financials/latest-results   2.    Basis of preparation and significant accounting policies   This report has been prepared using the historical cost convention, on a going concern basis and in accordance with UK - adopted International Financial Reporting Standards ("IFRS"). The preparation of financial statements in conformity with IFRS requires the use of certain critical accounting estimates. It also requires management to exercise its judgement in the process of applying the accounting policies and making any estimates. Changes in assumptions may have a significant impact on the financial statements in the period the assumptions changed. The Board of Directors believe that the underlying assumptions are appropriate and that the financial statements are fairly presented. The Board of Directors believes that there are no areas involving a higher degree of judgement or complexity, or areas where assumptions and estimates are significant to the financial statements, and therefore, these financial statements have limited disclosures.   3.    Segmental Reporting   In the opinion of the directors, the Group has one class of business, in four geographical areas, being that of identifying and developing microbial strains, compounds and formulations for use in the nutraceutical industry. The Group sells into three highly interconnected markets, all costs assets and liabilities are derived from locations in the UK and Denmark.   Revenue analysed by geographical market   6 months 30 June   2025 6 months 30 June   2024 Year to 31 December 2024   £'000 £'000 £'000 UK 34 14 34 US 760 749 1,457 China 51 - - ROW 499 243 392   ────── ────── ──────   1,344 1,006 1,883   ══════ ══════ ══════     During the reporting period one customer represented £689k, 51.2% (2024: £749k, 74.5%) of Group revenues.   4.    Earnings per Share           Basic earnings per share is calculated by dividing the earnings attributable shareholders by the weighted average number of ordinary shares outstanding during the period.           Reconciliations are set out below:     6 Months to 30 June 2025 Unaudited 6 Months to 30 June 2024 Unaudited Year to 31 December 2024 Audited   £ £ £ Basic  & Diluted Earnings attributable to ordinary shareholders (150,056) (261,064) (847,631) Weighted average number of shares 158,166,666 121,666,666 133,466,666 Earnings /(Loss) per-share - pence (0.09)p (0.21)p (0.63)p ═════ ═════ ═════         As at 30 June 2025 there were 15,000,000 (2024:5,500,000) outstanding share options.  These are non-dilutive due to the losses incurred in the year.   5.   Share Capital         Issued share capital comprises:     Shares in issue     Opening balance 1 January 2024 and 30 June 2024 121,666,666 Share issue 36,500,000 ────── Closing balance at 31 December 2024 and 30 June 2025 158,166,666 ══════     Share capital   £'000 Opening balance 1 January 2024 and 30 June 2024 61 Share issue 18 ────── Closing balance at 31 December 2024 and 30 June 2025 79 ══════ 6.   Post balance sheet events   There are no post balance sheet events.  

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