Prenetics(US:PRE) Globenewswireยท2025-03-05 13:30Core Insights - Prenetics Global Limited reported a significant revenue growth of 93.5% to $10.5 million in Q4 2024 and a year-over-year increase of 40.9% to $30.6 million for the full year 2024 [1][9][13] - The company has cash and short-term assets totaling $84.8 million as of December 31, 2024, positioning it well for future growth opportunities [1][6] - For 2025, Prenetics projects full-year revenue between $73 million and $85 million, driven by the successful launch of its IM8 Health brand [2][12] Financial Performance - In Q4 2024, Prenetics achieved a gross profit of $4.6 million, up 73.1% from $2.7 million in Q4 2023, with a gross margin of 44.0% [9][13] - The full-year gross profit for 2024 was $16.1 million, an increase of 82.6% from $8.8 million in 2023, with a gross margin improvement to 52.6% from 40.6% [9][13] - Adjusted EBITDA loss for Q4 2024 was $(6.8) million, slightly worse than $(6.1) million in Q4 2023, while the full-year adjusted EBITDA loss improved to $(22.2) million from $(24.8) million in 2023 [9][13] Business Strategy and Growth - The company is focusing on its consumer health brands, including IM8, Europa, and CircleDNA, which are expected to drive significant growth [6][11] - IM8 Health has quickly gained traction in the market, establishing a strong community and positioning itself in the holistic health sector [4][6] - Strategic acquisitions, such as Europa, are expected to contribute to revenue growth, with Europa projected to break even by the second half of 2025 [5][6] Future Outlook - Prenetics anticipates a robust revenue increase of 350-450% year-over-year for 2025, aiming for profitability by the end of Q4 2025 [6][12] - The company expects Q1 2025 revenue to be between $11.5 million and $13 million, with specific contributions from IM8, Europa, and CircleDNA [8][12]