Biome Australia's positive Q3 FY24 performance

Biome Australia Limited (ASX: $BIO) has achieved a significant milestone by generating positive underlying quarterly cash flow in Q3 FY24. The company reported $3.2m in sales revenue, marking a remarkable 74% growth compared to the previous corresponding period. Despite the industry's weakest quarter, Biome maintained a gross margin of 60% and achieved record sell-through levels for Activated Probiotics.

Executive commentary on Q3 FY24 performance

Biome Australia's Managing Director and Founder, Blair Vega Norfolk, expressed delight at the company's achievement of positive cash flow in the weakest quarter of the year. Norfolk highlighted the strong sales revenue growth and emphasized the potential for continued growth driven by the research and education-led sales model. With the company trading cash-flow positive and expecting to reach positive EBITDA, Biome looks forward to sharing its March quarter activities report and the Biome Vision 27 strategic plan later this year.

Summary of Biome Australia's Q3 FY24 update

Biome Australia has reported a remarkable performance in Q3 FY24, achieving positive underlying quarterly cash flow and recording substantial sales revenue growth. The company's ability to maintain a strong gross margin and achieve record sell-through levels in the weakest industry quarter demonstrates resilience and potential for future growth. Biome's upcoming 4C Quarterly Activities Report is expected to provide further insights into the company's performance, and the anticipation of reaching positive EBITDA indicates a positive outlook for the future. With a commitment to improving health outcomes and accessibility of its products, Biome Australia's strategic plan is poised to drive continued success in the coming periods.