Jamieson Wellness (JWEL) Investor Day 2025 summary

Strategic vision and global growth

• Transitioned from a Canadian-focused company to a global powerhouse, with international revenue rising from 10% in 2017 to over 50% in 2024.

• Targeting over $1 billion in revenue within 3-5 years, with Canada expected to represent about 35% of the mix, down from 53% in 2024.

• Maintains strong growth in Canada while aggressively expanding in the U.S., China, and other high-potential international markets.

• Strategic partnerships, M&A, and local relevance drive efficiency, margin, and market access globally.

• Focused on globally consistent yet locally relevant strategies to adapt products and marketing to each market.

Financial performance and guidance

• Achieved 156% top-line and 150% bottom-line growth since 2017, with $200M+ returned to shareholders.

• 2024 consolidated revenue reached $734 million, with a 19.2% adjusted EBITDA margin and record $141 million adjusted EBITDA.

• 2025 revenue guidance is $800M-$840M, with consolidated EBITDA of $157M-$163M and 10-15% revenue growth targeted over the next 3-5 years.

• Over $200 million has been returned to shareholders since IPO, with a 15% average dividend growth rate.

• Operating cash flow grew 261% from 2017 to 2024.

Market trends and consumer insights

• The vitamins, minerals, and supplements (VMS) category is resilient, growing steadily pre- and post-COVID, and is now considered a staple rather than discretionary.

• Key growth drivers include an aging population, earlier adoption by younger demographics (notably Gen Z), rising disposable income in emerging markets, and a global focus on preventative health.

• Two main consumer segments targeted: efficiency explorers and quality seekers, with the latter using multiple products daily and demanding high quality and natural ingredients.

• Deep consumer insights drive innovation, marketing, and product development, leveraging both quantitative and qualitative data.