Prenetics Announces Fourth Quarter and Full Year 2024 Financial Results, Provides 2025 Guidance
Prenetics (NASDAQ: PRE) reported strong Q4 and full year 2024 results, with Q4 revenue growing 93.5% to $10.5 million and full-year revenue increasing 40.9% to $30.6 million. The company maintains a solid financial position with $84.8 million in cash and short-term assets.
Key highlights include:
- Gross profit from continuing operations reached $4.6 million in Q4 2024 (up 73.1%) and $16.1 million for full-year 2024 (up 82.6%)
- Full-year gross margin improved to 52.6% from 40.6% in 2023
- IM8 Health launch showed promising results with $106 average order value and 83% subscription rate
For 2025, Prenetics projects revenue of $73-85 million, representing 350-450% year-over-year growth. The company expects to achieve profitability by Q4 2025, focusing on consumer health brands IM8, Europa, and CircleDNA.
Prenetics (NASDAQ: PRE) ha riportato risultati solidi per il quarto trimestre e l'intero anno 2024, con un aumento del fatturato del 93,5% nel Q4, raggiungendo i 10,5 milioni di dollari, e un incremento del 40,9% del fatturato annuale, arrivando a 30,6 milioni di dollari. L'azienda mantiene una solida posizione finanziaria con 84,8 milioni di dollari in contante e attivi a breve termine.
I punti salienti includono:
- Il profitto lordo dalle operazioni continuative ha raggiunto 4,6 milioni di dollari nel Q4 2024 (in aumento del 73,1%) e 16,1 milioni di dollari per l'intero anno 2024 (in aumento dell'82,6%)
- Il margine lordo annuale è migliorato al 52,6% rispetto al 40,6% del 2023
- Il lancio di IM8 Health ha mostrato risultati promettenti con un valore medio dell'ordine di 106 dollari e un tasso di abbonamento dell'83%
Per il 2025, Prenetics prevede un fatturato tra 73 e 85 milioni di dollari, rappresentando una crescita del 350-450% anno su anno. L'azienda si aspetta di raggiungere la redditività entro il Q4 2025, concentrandosi sui marchi di salute dei consumatori IM8, Europa e CircleDNA.
Prenetics (NASDAQ: PRE) reportó resultados sólidos para el cuarto trimestre y el año completo 2024, con un crecimiento del 93.5% en los ingresos del Q4, alcanzando los 10.5 millones de dólares, y un aumento del 40.9% en los ingresos anuales, llegando a 30.6 millones de dólares. La compañía mantiene una posición financiera sólida con 84.8 millones de dólares en efectivo y activos a corto plazo.
Los aspectos destacados incluyen:
- El beneficio bruto de las operaciones continuas alcanzó los 4.6 millones de dólares en el Q4 2024 (un aumento del 73.1%) y 16.1 millones de dólares para el año completo 2024 (un aumento del 82.6%)
- El margen bruto anual mejoró al 52.6% desde el 40.6% en 2023
- El lanzamiento de IM8 Health mostró resultados prometedores con un valor medio de pedido de 106 dólares y una tasa de suscripción del 83%
Para 2025, Prenetics proyecta ingresos de entre 73 y 85 millones de dólares, lo que representa un crecimiento del 350-450% año tras año. La compañía espera alcanzar la rentabilidad para el Q4 2025, enfocándose en las marcas de salud del consumidor IM8, Europa y CircleDNA.
프레네틱스 (NASDAQ: PRE)는 2024년 4분기 및 전체 연도 실적이 강하다고 보고했으며, 4분기 수익이 93.5% 증가하여 1,050만 달러에 이르고, 연간 수익이 40.9% 증가하여 3,060만 달러에 도달했습니다. 회사는 8,480만 달러의 현금 및 단기 자산으로 탄탄한 재무 상태를 유지하고 있습니다.
주요 하이라이트는 다음과 같습니다:
- 지속 운영에서의 총 이익은 2024년 4분기에 460만 달러(73.1% 증가) 및 2024년 전체 연도에 1,610만 달러(82.6% 증가)에 도달했습니다.
- 전체 연도 총 마진은 2023년 40.6%에서 52.6%로 개선되었습니다.
- IM8 Health 출시가 평균 주문 가치 106달러 및 83%의 구독률로 유망한 결과를 보여주었습니다.
2025년을 위해 프레네틱스는 7300만에서 8500만 달러의 수익을 예상하며, 이는 전년 대비 350-450%의 성장률을 나타냅니다. 회사는 소비자 건강 브랜드 IM8, 유로파, CircleDNA에 집중하여 2025년 4분기까지 수익성을 달성할 것으로 기대하고 있습니다.
Prenetics (NASDAQ: PRE) a annoncé de solides résultats pour le quatrième trimestre et l'année complète 2024, avec un chiffre d'affaires du Q4 en hausse de 93,5% à 10,5 millions de dollars et une augmentation de 40,9% du chiffre d'affaires annuel à 30,6 millions de dollars. L'entreprise maintient une position financière solide avec 84,8 millions de dollars en liquidités et actifs à court terme.
Les points saillants incluent:
- Le bénéfice brut des opérations continues a atteint 4,6 millions de dollars au Q4 2024 (en hausse de 73,1%) et 16,1 millions de dollars pour l'année complète 2024 (en hausse de 82,6%)
- La marge brute annuelle s'est améliorée à 52,6% contre 40,6% en 2023
- Le lancement d'IM8 Health a montré des résultats prometteurs avec une valeur de commande moyenne de 106 dollars et un taux d'abonnement de 83%
Pour 2025, Prenetics prévoit un chiffre d'affaires de 73 à 85 millions de dollars, représentant une croissance de 350 à 450% par rapport à l'année précédente. L'entreprise s'attend à atteindre la rentabilité d'ici le Q4 2025, en se concentrant sur les marques de santé des consommateurs IM8, Europa et CircleDNA.
Prenetics (NASDAQ: PRE) hat starke Ergebnisse für das vierte Quartal und das gesamte Jahr 2024 gemeldet, mit einem Umsatzwachstum von 93,5% im Q4 auf 10,5 Millionen Dollar und einem Anstieg des Gesamtjahresumsatzes um 40,9% auf 30,6 Millionen Dollar. Das Unternehmen hat eine solide finanzielle Position mit 84,8 Millionen Dollar in bar und kurzfristigen Vermögenswerten.
Wichtige Highlights sind:
- Der Bruttogewinn aus fortgeführten Betrieben erreichte im Q4 2024 4,6 Millionen Dollar (ein Anstieg von 73,1%) und 16,1 Millionen Dollar für das gesamte Jahr 2024 (ein Anstieg von 82,6%)
- Die Bruttomarge für das gesamte Jahr verbesserte sich auf 52,6% von 40,6% im Jahr 2023
- Der Start von IM8 Health zeigte vielversprechende Ergebnisse mit einem durchschnittlichen Bestellwert von 106 Dollar und einer Abonnementquote von 83%
Für 2025 prognostiziert Prenetics einen Umsatz von 73 bis 85 Millionen Dollar, was einem Wachstum von 350-450% im Vergleich zum Vorjahr entspricht. Das Unternehmen erwartet, bis zum Q4 2025 rentabel zu sein, wobei der Fokus auf den Verbraucher-Gesundheitsmarken IM8, Europa und CircleDNA liegt.
- Revenue grew 93.5% YoY in Q4 2024
- Full-year gross margin improved to 52.6% from 40.6%
- Strong cash position of $84.8 million
- IM8 Health showing 83% subscription rate
- CircleDNA doubled revenue and achieved profitability
- $30M cash injection from Insighta stake sale
- Q4 gross margin decreased to 44% from 49.2%
- Adjusted EBITDA loss of $22.2M in 2024
- Q4 2024 EBITDA loss increased to $6.8M from $6.1M
- Expected continued EBITDA losses through Q3 2025
Insights
Prenetics has delivered robust financial growth with Q4 revenue surging
The company's growth trajectory is remarkable, with 2025 revenue guidance of
Prenetics' balance sheet remains solid with
The projected path to profitability by Q4 2025 appears credible given the strong unit economics of their subscription-focused business model. CircleDNA's transition to standalone profitability serves as an encouraging proof point for the company's ability to scale businesses efficiently. The current EBITDA losses should be viewed as strategic investments in growth rather than operational inefficiencies.
Prenetics' strategic pivot toward consumer health represents a compelling transformation with significant growth potential. IM8 Health's early performance metrics demonstrate the company has successfully identified an underserved niche in the crowded supplements market. The
The company's three-pronged consumer strategy (IM8, Europa, CircleDNA) creates multiple growth vectors while establishing complementary health ecosystems. CircleDNA's revenue doubling and achievement of profitability validates their ability to execute the same playbook they're now rolling out with IM8. The integration of Europa to support IM8's expansion demonstrates vertical integration that should enhance margins and supply chain control.
What's most impressive is how Prenetics has successfully transitioned from a pandemic-era testing company to a diversified consumer health platform. Their focus on premium positioning (
Management's decision to divest clinical assets shows disciplined focus on their highest-growth opportunities. By concentrating resources on wholly-owned consumer brands, they're positioning for more efficient scaling while simplifying their business model for investors. The projected revenue acceleration suggests they've found product-market fit across multiple segments, with customer acquisition efficiency that supports their ambitious growth targets.
Revenue grew
Cash and short-term assets of
Provides first quarter and full year 2025 guidance
Projects full year 2025 revenue of
CHARLOTTE, N.C., March 05, 2025 (GLOBE NEWSWIRE) -- Prenetics Global Limited (NASDAQ: PRE) (“Prenetics” or the “Company”), a leading health sciences company, today announced its preliminary unaudited financial results for the fourth quarter and full year ended December 31, 2024, along with recent business updates.
Management Commentary
Danny Yeung, Chief Executive Officer and Co-Founder, remarked: “The past few years, including 2024, marked a pivotal rebuilding phase for Prenetics. Today, we are seeing the fruits of our labor—and 2025 will be a defining year. Our business units are gaining momentum, setting new records every month and driving sustainable growth. Leading this charge is IM8 Health, our premium supplements brand, which is making a profound health impact globally.
Since its launch 3 months ago, IM8 Health has rapidly gained traction:
- An average order value (AOV) of
$106 —a testament to premium positioning and customer loyalty; 83% subscription rate, with customers overwhelmingly choosing recurring monthly deliveries.
In a saturated market, IM8 has carved out a distinct position by fostering an engaged community and ecosystem centered on holistic health—empowering individuals to take ownership of their wellness journeys. This is just the beginning.
Our strategic acquisitions are bearing fruit. Europa, acquired just six months ago to support IM8’s growth, is on track to break even by the second half of 2025, with meaningful revenue expected by year-end. Meanwhile, CircleDNA has nearly doubled its revenue in 2024, transitioning from losses to standalone profitability—a testament to our operational team.
We’ve also taken steps to sharpen our focus by divesting assets in our clinical business units to focus on our fast growing consumer business. We recently sold a portion of our stake in Insighta to Tencent, reducing our ownership from
Mr. Yeung continued, “Moving forward, Prenetics will concentrate fully on our consumer health brands—IM8, Europa, and CircleDNA—businesses we wholly own
For the first quarter of 2025, we expect consumer results to be:
- Revenue of
$11.5 million to$13 million - IM8:
$4.0 million to$4.5 million - Europa:
$5.0 million to$5.5 million - CircleDNA:
$2.5 million to$3.0 million
- IM8:
- Adjusted EBITDA loss:
$(5.5) million to$(6.0) million
For the full year 2025, we expect consumer results to be:
- Revenue of
$73 million to$85 million - IM8:
$30 million to$35 million - Europa:
$30 million to$35 million - CircleDNA:
$13 million to$15 million
- IM8:
- Adjusted EBITDA loss:
$(13) million to$(15) million - Q4 2025: Adjusted EBITDA profitable
Preliminary Financial Highlights for the fourth quarter and full year ended December 31, 2024
For the fourth quarter and full year ended December 31, 2024
| Three Months Ended December 31, | Year Ended December 31, | |||||||||||||||||
| 2024 | 2023 | Y-o-Y changes | 2024 | 2023 | Y-o-Y changes | |||||||||||||
| (unaudited) | (unaudited) | (unaudited) | (unaudited) | |||||||||||||||
| (in $ millions, except percentages) | ||||||||||||||||||
| Financial metrics | ||||||||||||||||||
| Continuing operations | ||||||||||||||||||
| Revenue | 10.5 | 5.4 | 93.5 | % | 30.6 | 21.7 | 40.9 | % | ||||||||||
| Gross profit | 4.6 | 2.7 | 73.1 | % | 16.1 | 8.8 | 82.6 | % | ||||||||||
| Loss from operations from continuing operations under IFRS | (12.1 | ) | (13.3 | ) | (8.6 | )% | (43.7 | ) | (51.9 | ) | (15.8 | )% | ||||||
| Adjusted EBITDA loss from continuing operations (Non-IFRS) | (6.8 | ) | (6.1 | ) | 10.8 | % | (22.2 | ) | (24.8 | ) | (10.5 | )% | ||||||
- Revenue from continuing operations of
$10.5 million in the fourth quarter 2024, as compared to$5.4 million in the fourth quarter 2023, an increase of93.5% . - Revenue from continuing operations of
$30.6 million in the full year 2024, as compared to$21.7 million in the full year 2023, an increase of40.9% . - Gross profit from continuing operations of
$4.6 million in the fourth quarter 2024, as compared to$2.7 million in the fourth quarter of 2023, an increase of73.1% . - Gross profit from continuing operations of
$16.1 million in the full year 2024, as compared to$8.8 million in the full year 2023, an increase of82.6% . - Gross margin of continuing operations in the fourth quarter 2024 decreased to
44.0% from49.2% in the fourth quarter 2023. - Gross margin of continuing operations in the full year 2024 increased to
52.6% from40.6% in the full year 2023, driven by operational efficiencies, better pricing strategies, and cost optimization measures. - Adjusted EBITDA loss from continuing operations of
$(6.8) million in the fourth quarter 2024, compared to$(6.1) million in the fourth quarter 2023. - Adjusted EBITDA1 loss from continuing operations of
$(22.2) million in the full year 2024, a slight improvement compared to$(24.8) million in the full year 2023.
____________________
1 Adjusted EBITDA is defined as loss from operations excluding (1) employee equity-settled share-based payment expenses, (2) depreciation and amortization, (3) amortization of deferred expenses, (4) acquisition and transaction-related costs, (5) strategic realignment and discontinued products impact, and (6) finance income and exchange gain or loss, net. These adjustments are made for items that may not be indicative of our business performance, including non-cash and/or non-recurring items.
About Prenetics
Prenetics (NASDAQ:PRE), a leading health sciences company, is dedicated to advancing consumer and clinical health. Our consumer initiative is led by IM8, a new health and wellness brand and Europa, one of the largest sports distribution companies in the USA. Our clinical division is led by Insighta, our
Forward-Looking Statements
This press release contains forward-looking statements. These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. Statements that are not historical facts, including statements about the Company’s goals, targets, projections, outlooks, beliefs, expectations, strategy, plans, objectives of management for future operations of the Company, and growth opportunities are forward-looking statements. In some cases, forward-looking statements can be identified by words or phrases such as “may,” “will,” “expect,” “anticipate,” “target,” “aim,” “estimate,” “intend,” “plan,” “believe,” “potential,” “continue,” “is/are likely to” or other similar expressions. Forward-looking statements are based upon estimates and forecasts and reflect the views, assumptions, expectations, and opinions of the Company, which involve inherent risks and uncertainties, therefore they should not be relied upon as being necessarily indicative of future results. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to: the Company’s ability to further develop and grow its business, including new products and services; its ability to execute on its new business strategy in genomics, precision oncology, and specifically, early detection for cancer; the results of case control studies and/or clinical trials; and its ability to identify and execute on M&A opportunities, especially in precision oncology. In addition to the foregoing factors, you should also carefully consider the other risks and uncertainties described in the “Risk Factors” section of the Company’s most recent registration statement and the prospectus therein, and the other documents filed by the Company from time to time with the U.S. Securities and Exchange Commission. All information provided in this press release is as of the date of this press release, and the Company does not undertake any duty to update such information, except as required under applicable law.
Investor Relations Contact:
investors@prenetics.com
PRE@mzgroup.us
Angela Cheung
Investor Relations / Corporate Finance
Prenetics Global Limited
angela.hm.cheung@prenetics.com
Basis of Presentation
Non-IFRS Financial Measure has been provided in the financial statements tables included at the end of this press release. An explanation of this measure is also included below under the heading “Non-IFRS Financial Measure”.
Non-IFRS Financial Measure
To supplement Prenetics’ consolidated financial statements prepared in accordance with International Financial Reporting Standards (“IFRS”), the Company is providing non-IFRS measure, adjusted EBITDA loss from continuing operations. This non-IFRS financial measure is not based on any standardized methodology prescribed by IFRS and are not necessarily comparable to similarly-titled measures presented by other companies. Management believes this non-IFRS financial measure is useful to investors in evaluating the Company’s ongoing operating results and trends.
Management is excluding from some or all of its non-IFRS results (1) Employee equity-settled share-based payment expenses, (2) depreciation and amortization, (3) Amortization of deferred expenses, (4) Acquisition and transaction-related costs, (5) Strategic realignment and discontinued products impact, and (6) finance income and exchange gain or loss, net — items that may not be indicative of our business, results of operations, or outlook, including but not limited to non-cash and/ or non-recurring items. These non-IFRS financial measures are limited in value because they exclude certain items that may have a material impact on the reported financial results. Management accounts for this limitation by analyzing results on an IFRS basis as well as a non-IFRS basis and also by providing IFRS measures in the Company’s public disclosures.
In addition, other companies, including companies in the same industry, may not use the same non-IFRS measures or may calculate these metrics in a different manner than management or may use other financial measures to evaluate their performance, all of which could reduce the usefulness of these non-IFRS measures as comparative measures. Because of these limitations, the Company’s non-IFRS financial measures should not be considered in isolation from, or as a substitute for, financial information prepared in accordance with IFRS. Investors are encouraged to review the non-IFRS reconciliations provided in the tables captioned “Reconciliation of loss from operations from continuing operations under IFRS and adjusted EBITDA loss from continuing operations (Non-IFRS)” set forth at the end of this document.
Preliminary and Unaudited Nature of the Information
The financial information contained in this press release is based on preliminary, unaudited results and reflects our current estimates based on information available as of this date. These preliminary results remain subject to completion of our normal period end accounting and external audit procedures. Accordingly, actual results may differ from these estimates.
The preliminary, unaudited financial information presented here should not be viewed as a substitute for full, audited financial statements prepared in accordance with International Financial Reporting Standards (“IFRS”). In addition, this press release does not present all necessary information for an understanding of our financial condition or results of operations as of and for the applicable period. Investors should not place undue reliance on these preliminary results, which are not intended to be, and should not be construed as, indicative of final reported results
PRENETICS GLOBAL LIMITED
Non-IFRS Financial Measures
(Expressed in United States dollars unless otherwise indicated)
Reconciliation of loss from operations from continuing operations under IFRS and adjusted EBITDA loss from continuing operations (Non-IFRS)
| Three Months Ended December 31, | Year Ended December 31, | |||||||||||
| 2024 | 2023 | 2024 | 2023 | |||||||||
| (in $ millions) | ||||||||||||
| Loss from operations from continuing operations under IFRS | (12.1 | ) | (13.3 | ) | (43.7 | ) | (51.9 | ) | ||||
| Employee equity-settled share-based payment expenses | 1.1 | — | 6.0 | 10.6 | ||||||||
| Depreciation and amortization | 1.5 | 1.6 | 6.0 | 6.7 | ||||||||
| Amortization of deferred expenses | 2.1 | 1.7 | 8.3 | 7.8 | ||||||||
| Acquisition and transaction-related costs | 1.8 | — | 3.6 | — | ||||||||
| Strategic realignment and discontinued products impact | — | 0.7 | 0.2 | 2.4 | ||||||||
| Impairment loss of goodwill | — | 3.9 | — | 3.9 | ||||||||
| Finance income, exchange gain or loss, net | (1.1 | ) | (0.7 | ) | (2.5 | ) | (4.3 | ) | ||||
| Adjusted EBITDA loss from continuing operations (Non-IFRS) | (6.8 | ) | (6.1 | ) | (22.2 | ) | (24.8 | ) | ||||
Continuing revenue by product
| Year Ended December 31, | |||||||
| 2024 | 2023 | Y-o-Y changes | |||||
| (unaudited) | (unaudited) | ||||||
| (in $ millions, except percentages) | |||||||
| CircleDNA | 10.0 | 5.9 | 68.0 | % | |||
| ACT Genomics | 14.7 | 15.6 | (5.8 | )% | |||
| IM8 | 0.4 | — | 100.0 | % | |||
| Europa | 5.2 | — | 100.0 | % | |||
| Others | 0.4 | 0.2 | 86.8 | % | |||
| 30.6 | 21.7 | 40.9 | % | ||||
FAQ
What is Prenetics (PRE) revenue guidance for 2025?
How did Prenetics (PRE) perform in Q4 2024?
What are the key performance metrics for Prenetics' IM8 Health brand?
When does Prenetics (PRE) expect to achieve profitability?
What was Prenetics' cash position at the end of 2024?
