Core Insights - Prenetics Global Limited (NASDAQ: PRE) has appointed Formula 1 driver Ollie Bearman as its Global Ambassador and shareholder, enhancing the brand's alignment with elite athletes committed to health excellence [1][3][8] - IM8, co-founded by David Beckham, has rapidly grown to achieve US$100 million in Annual Recurring Revenue within just 11 months of its launch, establishing itself as a leading supplement brand [3][11] - Bearman, at 18, made a historic debut in Formula 1 with Ferrari, showcasing his potential as a top talent in motorsport [5][9] Company Overview - Prenetics is a leading health sciences company focused on advancing human health and longevity, with its flagship brand IM8 redefining the premium daily nutrition category through science-backed formulations [11][12] - IM8's Daily Ultimate Essentials is an all-in-one supplement designed to replace 16 different supplements, certified for sport, and free from common allergens [12] Athlete Partnership - Ollie Bearman experienced significant performance benefits from IM8's Daily Ultimate Essentials, which contributed to his decision to invest in the brand [6][7] - The partnership with Bearman reflects IM8's strategy to engage with athletes who prioritize scientifically validated nutritional support [3][9] Market Position - IM8 has become one of the fastest-growing supplement brands globally, with a strong foundation of scientific credibility supported by a Scientific Advisory Board from renowned institutions [9][11] - The brand is now sold in over 30 countries, indicating its expanding global presence [11]

Core Insights - Prenetics Global Limited has strategically realigned its focus exclusively on its consumer health brand IM8, ceasing all Bitcoin acquisition activities to capitalize on IM8's growth potential [1][4][5] - IM8 has achieved remarkable success, becoming the fastest-growing supplement brand in history, with over $100 million in annualized recurring revenue (ARR) within just 11 months of its launch [2][6] - The company maintains a strong financial position with over $70 million in cash, 510 BTC as a treasury reserve, and no debt, providing a solid foundation for the expansion of IM8 [3][4] Company Strategy - The decision to focus solely on IM8 is aimed at maximizing long-term shareholder value and reflects the company's commitment to disciplined governance and strategic clarity [5][3] - Capital allocation will be directed exclusively towards the growth and operations of IM8, including product innovation, brand building, talent acquisition, working capital, and international expansion [4][5] Product Overview - IM8 is positioned as a premium core nutrition brand, co-founded by David Beckham, and combines advanced science with natural ingredients to promote health and longevity [6][7] - The flagship product, Daily Ultimate Essentials, is designed to replace 16 different supplements in a single drink and is certified for sport, non-GMO, vegan, and free from common allergens [7]

Core Insights - Cantor Fitzgerald has reiterated its Overweight rating on Prenetics Global Limited, adjusting the 12-month price target to $31 from $32, reflecting updates related to the planned divestment of its Europa business while maintaining a positive long-term outlook on the company [1][2] Financial Performance - Prenetics reported a 3Q25 revenue of $23.6 million, representing approximately 568% year-over-year growth, with IM8 revenue reaching $17.2 million, up about 76% sequentially and achieving gross margins of around 60% [5] - The company has a customer payback period of approximately 3.9 months and an 80%+ subscription rate, indicating strong unit economics [5] - As of November 10, 2025, Prenetics holds approximately 387 BTC valued at around $41 million, contributing to total liquidity of approximately $120 million [5] Market Position and Valuation - Cantor views Prenetics as undervalued, with PRE trading at just 0.7× EV/2026E revenue compared to approximately 1.1× for consumer-health peers [2] - Cantor forecasts FY2026 revenue of approximately $217 million, driven by continued momentum from IM8 and international expansion [5] Management Commentary - CEO Danny Yeung emphasized that Cantor's ongoing research coverage highlights Prenetics' emergence as a global leader in health and longevity, reinforcing investor understanding of the significant opportunities ahead as IM8 scales internationally [2]

Financial Data and Key Metrics Changes - Total revenue surged 568% year over year to $23.6 million in Q3 2025, driven by IMA's 76% quarter-to-quarter growth [9] - Adjusted EBITDA loss improved from $6.5 million in Q1 to $2.1 million in Q3, indicating operational leverage and a clear path to profitability [12][17] - Cash increased to approximately $82 million and Bitcoin holdings valued at around $40 million, resulting in total liquidity of about $120 million with zero debt [7][18] Business Line Data and Key Metrics Changes - IMA achieved $100 million annual recurring revenue (ARR) in the last 11 months, with projections to reach $300 million ARR by the end of 2026 [6] - Subscription rate for IMA stands at 80%, with an average order value increasing by 36% quarter over quarter to $150 [10][11] - Gross margin improved to 60% from 52%, reflecting enhanced profitability [10] Market Data and Key Metrics Changes - International markets now account for 56.5% of total revenue, with the U.S. being the top market followed by Canada, the U.K., Australia, and Singapore [10] - IMA has achieved over 420,000 customer purchases across 31 countries, indicating strong global demand [9] Company Strategy and Development Direction - The company aims to create a new category at the intersection of health and wealth, targeting $1 billion in annual revenue by 2030 [6] - A strategic divestment of non-core assets is underway to focus resources on IMA, the highest margin growth engine [14] - The company is leveraging partnerships with high-profile individuals to enhance brand visibility and credibility [15] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving $180-$200 million in revenue for 2026, driven by international expansion and new product launches [18] - The company is strategically choosing to scale aggressively rather than prioritize short-term profitability, aiming to capture maximum market share [18] Other Important Information - The company has initiated a Bitcoin accumulation strategy, purchasing one Bitcoin daily since August 1, which is part of a sustainable framework to build shareholder value [8] - The recent $44 million funding round attracted notable investors, enhancing the company's financial position [6] Q&A Session Summary Question: Impressive payback period of 3.9 months - Management explained that the payback period has improved from four to five months at launch to 3.9 months now, indicating marketing efficiencies and strong unit economics [19][20] Question: Strong growth in international markets - Management noted that the U.S. market share has decreased from 70% to 46.5%, with significant growth observed in Canada, Europe, the Middle East, and Southeast Asia [21] Question: Need for additional capital for expansion - Management stated that with current liquidity, there is no expectation of needing new capital for expansion, emphasizing operational flexibility from recent fundraising [22][24]

Core Insights - Prenetics Global Limited's IM8 brand achieved approximately $108 million in annualized recurring revenue (ARR) just 11 months post-launch, marking a significant milestone in its growth trajectory [1][4][9] - The company reported a record monthly revenue of $9 million in October, reflecting a 32% increase from September's $6.8 million, driven by strong subscriber growth and improved retention metrics [4][5] - Prenetics recently completed a $44 million equity offering, which is expected to facilitate accelerated global expansion and enhanced marketing initiatives [3][4] Financial Performance - IM8's monthly revenue reached $9 million in October, representing a 32% month-over-month growth from September [5] - The brand has delivered 13 million servings to over 420,000 customers across 31 countries since its launch [5] - IM8 projects a minimum of $10 million in monthly revenue by December 2025, with total revenues expected to be approximately $60 million for FY 2025 and between $180 million and $200 million for FY 2026 [12] Strategic Initiatives - The recent equity raise positions IM8 for aggressive scaling, including exploring partnerships with elite athletes and global wellness thought leaders [4][5] - The launch of the Daily Ultimate Longevity product has contributed to an increase in average order value from approximately $110 to $145, indicating strong consumer demand [5] - Prenetics aims to continue scaling IM8 through 2026 with initiatives focused on global distribution, product innovations, and retention efforts [8] Market Position - IM8 is recognized as the fastest-growing supplement brand globally, achieving $100 million in ARR within just 11 months of launch, surpassing previous records in the supplements industry [9] - The company is also pioneering in the intersection of health innovation and digital assets, having established a Bitcoin Treasury by purchasing 1 Bitcoin per day, totaling 380 BTC as of November 4, 2025 [10]