Venture Life Group (VLG) Transition period summary

Executive summary

• Focused pure-play consumer healthcare business after divesting CDMO/manufacturing and Oral Care operations; portfolio spans four categories and eight brands.

• Revenue grew 16% like-for-like over the 17 months to May 2026, with momentum concentrated in Power Brands; distribution points increased 40% across UK and US channels.

• Acquired FemiClear and CUROXEN on June 2, 2026, establishing US operations and adding a sales team and cross-selling platform.

• Danny Wells is due to succeed Jerry Randall as CEO on January 1, 2027; strategy remains focused on organic growth, US expansion and selective M&A.

Financial highlights

• Revenue was £50m for the 17 months to May 2026, up 16% like-for-like; gross profit was £22.3m versus £12.2m for 2024.

• EBITDA was £7.9m for the 17-month period, including £7.1m LTM to May 2026, up 19% underlying; adjusted EBITDA was £7.9m LTM.

• Adjusted diluted EPS increased to 5.8p from 3.1p in 2024.

• Free cash flow was £3.5m, affected by exceptional transformation costs; operating cash conversion was 56.2% and FCF conversion 44.7%.

• Profit before tax was £3.4m; closing cash was £11.5m, versus £18.8m net debt at end-2024.

Outlook and guidance

• FY26/27 revenue guidance is £54.7m and EBITDA guidance is £11.6m; revenue components include £39m core LTM revenue, ~£11m from FemiClear and £4m organic growth.

• Expected FCF is £7.5m–£8m for the 12 months to May 2027; management also cited £8m cash generation in the current financial period.

• FemiClear revenue is expected to reach £17m by 2029, with high-£3m to £4m EBITDA, cash conversion above 90% and ~20% annual revenue growth.

• Medium-term sustainable organic growth is modeled at ~15%; adjusted EBITDA margins are expected to reach the low 20s relatively soon, with 25% as a longer-term target.

• Long-term ambition is £300m+ revenue and a 25% EBITDA margin by 2030, supported by organic growth and acquisitions; management said no equity raise is required.