Biome Australia (BIO) H2 2024 earnings summary

Executive summary

• Achieved positive EBITDA of $287k for H2 FY24 (adjusted for non-cash, share-based payment).

• Recorded positive cash flow in Q2, Q3, and Q4 FY24.

• Sales revenue grew 80% year-over-year to $13.01m, with Q4 revenue at $3.8m, up 88% vs PCP.

• International sales reached $894k, up 95% year-over-year.

Financial highlights

• Gross profit reached $7.91m, up 85% year-over-year.

• Gross margin exceeded 60%, up from ~59% in FY23.

• Cash balance was $2.87m at June 30, 2024.

• $2.7m in unrecognised future income tax benefit, implying no tax payable for the first ~$11m in future profits.

Outlook and guidance

• Plans to reinvest cash reserves to support ongoing growth, product innovation, and new market entry.

• Soon-to-be-released Vision 27 three-year strategic plan to guide FY25 and beyond.