Bubs Australia (BUB) Trading update summary

Financial performance and outlook

• FY26 revenue expected between $105–115 million, reflecting underlying growth despite market challenges.

• Reported EBITDA projected between -$2 million and +$2 million; underlying EBITDA expected at $4–8 million.

• Sales and earnings affected by regulatory changes, product constraints, Middle East disruptions, increased air freight, and competition.

Strategic actions and market expansion

• Actions taken to mitigate external impacts, with continued underlying growth and positive FDA engagement nearing final review stages.

• Expansion in the USA remains a key growth driver, with plans to achieve product ranging in over 10,000 stores by July 2026.

• Air freight use for US re-stocking is concluding, prioritizing customer service.

Operational resilience and future focus

• Maintains strong balance sheet and liquidity, enabling flexibility to manage near-term challenges.

• Focus on converting demand into sustainable growth through expanded distribution and brand investment.

• Strategic initiatives aim to strengthen long-term business performance.