Prenetics(US:PRE)2026-02-18 14:28Revenue Growth - Full-year revenue surged approximately 480% year-over-year to $92.4 million, with Q4 revenue reaching $36.6 million, a 55% quarter-over-quarter increase[4] - Revenue for the year ended December 31, 2025 surged 479.7% year-over-year to a record $92.4 million, compared to $15.9 million in 2024[34] - Revenue for the three months ended December 31, 2025, was $36,558,000, up from $6,563,000 in the same period of 2024, a growth of 457%[57] IM8 Performance - IM8 achieved an annualized recurring revenue (ARR) of approximately $120 million within just 12 months of launch, contributing $60.1 million in revenue for FY2025[4] - The Company expects to triple IM8 revenue in 2026 compared to 2025, with a revenue guidance of $180 million to $200 million[25] - IM8's monthly revenue grew by approximately 51% from Q3 to Q4 2025, reaching $10 million in December 2025[5] - IM8 has surpassed $100 million in annualized recurring revenue within just 11 months of operations and is now sold in over 30 countries[43] Financial Metrics - Gross profit increased 427.6% year-over-year to $48.9 million, with a consolidated gross margin of 53.0%[34] - Adjusted EBITDA loss improved 27.2% year-over-year to $(13.0) million, compared to $(17.9) million in 2024[36] - Expected adjusted EBITDA loss for 2026 is approximately $16 million to $20 million, with a trajectory towards profitability by Q4 of 2027[40] Operational Changes - The Company divested ACT Genomics for up to $72 million in cash, simplifying its operational structure and focusing on IM8[3] - The payback period for IM8 improved to 3.5 months in Q4 from 3.9 months in Q3, driven by the introduction of quarterly subscription options[9] - Selling and marketing expenses were $35.5 million in 2025, representing 38.5% of total revenue, with expectations to rise to 45%-50% in 2026[35] Liquidity and Cash Flow - Total adjusted liquidity increased to approximately $171 million as of February 15, 2026, following the sale of the Company's stake in Insighta to Tencent for $70 million in cash[26] - Net cash used in operating activities improved by 20.7% year-over-year to $(22.9) million in 2025[38] - The company reported a net cash inflow from the disposal of a subsidiary amounting to $37,764,000 in 2025, with no such inflow reported in 2024[59] Losses and Liabilities - Loss from continuing operations was $(55.0) million in 2025, compared to $(38.4) million in 2024, primarily due to non-cash and non-recurring items[37] - Loss for the year 2025 was $60,593,000, compared to a loss of $49,806,000 in 2024, reflecting an increase in losses[56] - Total liabilities decreased to $29,010,000 in 2025 from $42,229,000 in 2024, a reduction of 31.2%[55] Asset Management - Total assets decreased to $203,519,000 in 2025 from $213,575,000 in 2024, a decline of approximately 4.7%[55] - Cash and cash equivalents dropped to $32,131,000 in 2025 from $52,251,000 in 2024, a decrease of 38.5%[55] - The company incurred an impairment loss of goodwill amounting to $8,194,000 in 2025, with no such loss reported in 2024[60] Shareholder Information - Basic loss per share for 2025 was $(4.15), compared to $(3.71) in 2024[56] - The total employee equity-settled share-based payment expenses for continuing operations in 2025 were $4,316,000, compared to $5,373,000 in 2024, indicating a decrease of approximately 19.7%[62]