Biome Australia Group achieves significant financial milestones and outlines expansion plans

Biome Australia Group (ASX:BIO) has achieved cash flow positivity and EBITDA positive milestones in the second half of FY24. The company, focused on becoming a global leader in the complementary medicine industry, is now planning international market expansions and a new product range launch. Biome's flagship range of novel live-biotherapeutics, Activated Probiotics, has shown strong growth in the Australian pharmacy and practitioner markets, with plans to expand its distribution points and business development. The company also aims to bring Activated Probiotics to the mainstream market as a significant probiotic brand locally and abroad through its Vision 27 strategic plan.

Executive Commentary

The company's strategic plan, Vision 27, outlines our commitment to maintaining cash flow positivity and reinvesting a portion of profits to continue rapid growth. We are excited about the international market expansion, especially in Europe and North America, and the upcoming launch of a new brand and product range. Our focus on ongoing clinical research and development pipeline, along with the identification and viability analysis of a novel probiotic strain, demonstrates our dedication to product development and protection from competition. We are confident in our ability to replicate the Australian success in international markets with a lean operational model and strong growth profile.

Summary

Biome Australia Group has achieved significant financial milestones by becoming cash flow and EBITDA positive in the second half of FY24. The company's Vision 27 strategic plan aims to grow its three-year cumulative sales revenue to up to $85m, focusing on distribution growth, international market acceptance and growth, supply chain development, and the launch of a new brand and product range. With plans to expand into European and North American markets, Biome is strategically positioned to capitalize on the growing demand for probiotic products. The company's commitment to ongoing clinical research and development, along with its focus on intellectual property development and protection, underlines its dedication to innovation and market leadership.