Biome Australia Limited (ASX: $BIO) Quarterly Activities & Appendix 4C March 2024

Biome Australia Limited (ASX: $BIO) has reported its first positive quarterly EBITDA and underlying operating cash flow for the quarter ended 31 March 2024. The company achieved $3.2m in sales revenue, marking a 74% increase compared to the previous corresponding period. Additionally, same-store sales in pharmacy experienced a significant 61.4% increase. Overseas sales revenue for the quarter totaled $242k, primarily driven by early growth in the UK health retail market. Biome finished the quarter with $2.1m cash at bank, reaffirming its sufficient funding to execute its FY24 strategy.

Biome Australia Managing Director, Blair Norfolk, on Q3 FY24 performance

Quarter three was a huge milestone for the Biome Australia business, achieving positive EBITDA for the first time since founding the business in July 2018. As we progress through Q4, traditionally the strongest quarter for the probiotic category, we look forward to sharing our Biome Vision 27 strategic plan. Our core Australian business is delivering strong growth within same-store sales and the underlying business. As we enter this next phase of growth of the business, we look forward to sharing further updates on our expansion in international markets and the underlying growth and development of the domestic Biome business.

Biome Australia's Q3 FY24 Performance and Outlook

Biome Australia Limited (ASX: $BIO) achieved a significant milestone by recording its first positive quarterly EBITDA and underlying operating cash flow, surpassing its earlier projection. The company's strong revenue growth, maintained gross margin, and expansion into international markets, particularly the UK and Ireland, contributed to this achievement. With a solid cash position of $2.1m at the end of Q3 FY24 and a high-growth quarter ahead in Q4, Biome is well-positioned to continue its strategic plan for FY24. The company's Managing Director, Blair Norfolk, expressed optimism about the future, highlighting the strong growth in same-store sales and the business's development, both domestically and internationally. Biome looks forward to sharing further updates on its expansion in international markets and its strategic plan, Biome Vision 27.