Prenetics Global (PRE) Q2 2026 earnings summary

Executive summary

• Q2 2026 revenue reached $46.5M, up 29% sequentially and nearly 4x year-over-year, with IM8 contributing $45M and 65% gross margin.

• July 2026 marked the first month of positive consolidated Adjusted Free Cash Flow, expected to remain positive for Q3 and beyond.

• Full-year 2026 revenue guidance raised to $220M–$230M, with IM8 expected to contribute $215M–$222M; 87% of revenue is recurring from subscribers.

• Added 47,373 new customers in July at a CAC of $239, down 21% from Q2, and reached 140,000 active subscribers.

• Growth driven by a subscription engine, premium pricing, and global diversification, with IM8 shipping to 46 countries and delivering over 200,000 servings daily.

Financial highlights

• Q2 gross profit was $30.2M at a 65% margin, up 3 points year-over-year.

• Fixed operating costs were $8.8M (19% of sales), showing leverage as revenue scales.

• Contribution profit reached $21.4M (46% of sales), a 16% margin improvement year-over-year.

• Adjusted EBITDA for Q2 was -$19M, primarily due to high marketing spend; net loss was $9M, down 45% year-over-year.

• Cash and current financial assets totaled $109.4M at quarter-end.

Outlook and guidance

• Q3 2026 revenue projected at $63M–$64M (IM8: $61.5M–$62.5M), Q4 at $75M–$84M (IM8: $75M–$81M).

• Full-year 2026 revenue guidance raised to $220M–$230M; Q4 implied at $81.2M; FY2027 IM8 revenue guidance initiated at $400M+.

• Adjusted EBITDA loss expected to improve to -$8M to -$12M in H2, from -$24.6M in H1.

• 2026 exit run rate targeted at $300M annualized revenue; July 2026 annualized IM8 revenue run-rate reached ~$251M.

• New product launches (hydration, gummies) in Q4 and Q1 2025/next 12 months are not included in guidance, representing potential upside.