Prenetics Global (PRE) Q1 2026 earnings summary

Executive summary

• Transitioned to a high-growth consumer health company anchored by IM8, now shipping to 43 countries and delivering 150,000 daily servings, with strong recurring subscription revenue and global reach.

• Q1 2026 revenue reached $36 million, with IM8 contributing $33.8 million, up 23% sequentially and nearly 6x year-over-year, driven by global expansion and product-market fit.

• Divested three non-core businesses and digital assets, redeploying over $116 million into IM8 and CircleDNA, and enhancing cash position and shareholder returns.

• Raised full-year 2026 IM8 revenue guidance to $190 million–$210 million, reflecting continued momentum and new product launches.

• Zero debt, $147 million in cash and financial assets as of May 2026, and a $40 million share repurchase program underway, with $19–21 million executed.

Financial highlights

• Q1 2026 revenue was $36 million, up 334% year-over-year; IM8 contributed $33.8 million, up 493% year-over-year and 23% sequentially.

• Gross profit grew to $23.3 million, with consolidated gross margin at 64.8% and IM8 gross margin at 64.3%.

• Loss from operations was $8.9 million; adjusted EBITDA loss was $5.6 million, reflecting increased marketing investment.

• Q1 marketing spend totaled $22 million.

• Cash and financial assets post-quarter-end total approximately $147 million, with no debt.

Outlook and guidance

• Full-year 2026 IM8 revenue guidance raised to $190 million–$210 million, up from $180 million–$200 million.

• Q2 2026 total revenue expected at $46 million–$48 million, with IM8 contributing $44 million–$46 million, representing 33% sequential growth.

• Three new products (hydration, creatine, kids gummies) launching in Q4 2026 are not included in guidance and represent upside.

• Adjusted EBITDA guidance for the year remains unchanged at a loss of $15 million–$20 million.

• ARR for IM8 reached $186 million in May 2026, with April monthly revenue at $14 million.