Key Financial and Operational Highlights

Biome Australia (ASX:BIO) has announced its financial and operational results for the first quarter ending September 2024. The company achieved a positive EBITDA of $122,000, marking its third consecutive profitable quarter when adjusted for share-based payments. Sales revenue increased by 12% from the previous quarter to $4.25 million, reflecting an annualized run rate of approximately $17 million. Biome also reported record cash receipts of $3.89 million, an 84% increase from the previous year.

Comprehensive Overview and Future Outlook

Biome Australia's first-quarter results for September 2024 highlight a continued positive trajectory, with a focus on revenue growth and international expansion. The introduction of Biome Cholesterol and a strategic test market in Canada are pivotal steps towards expanding the company's global footprint. In alignment with the Vision 27 plan, Biome aims for cumulative revenue of $75 million to $85 million from FY25 to FY27. Despite a cash outflow due to bonuses and incentives, the company expects to return to positive cash flow and maintain positive EBITDA in upcoming quarters. Biome's strategic investments in new markets and increased inventory underscore its ambitions to reinforce its presence in Australia and explore opportunities in Canada and Europe.

Executive Commentary on Quarterly Performance

The strong performance in Q1 reflects our commitment to growth and innovation in the microbiome health sector. Our launch of Biome Cholesterol and expansion activities in Canada are significant milestones that align with our Vision 27 strategic plan. We are confident in our ability to sustain this momentum and achieve our financial targets.