Biome Australia Limited (ASX:BIO) Announces Half-year Results
Financial Performance
Biome Australia Limited reported a 47.4% increase in revenue, reaching $8.86 million for the half-year ended 31 December 2024. Profit after tax attributable to owners surged by 128.4% to $433,395, marking the company’s maiden net profit. The company achieved positive EBITDA for four consecutive quarters, driven by strong sales of its Activated Probiotics products. Gross margin improved to 61% from 60.2% in the previous period.
Distribution Expansion
Biome expanded its distribution footprint in Australia by 20%, increasing from 5,000 to 6,000 distribution points. The Australian community pharmacy remains the largest distribution channel, with significant sales growth from partners Terry White Chemmart and Priceline Pharmacy. Internationally, Biome entered the Canadian market in November 2024 and continued to grow in the UK and New Zealand.
Financial Position
As of 31 December 2024, the company held $2.59 million in cash with total current assets of $9.85 million and net assets of $4.5 million. Cash outflows from operations were $1.12 million, primarily due to bonus and long-term incentive payments. Excluding these payments, cash outflow improved by 91% to $60,983 compared to the previous period.
Motley Fool contributor Abbie Stokes has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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