Prenetics records Q1 2026 revenue of$36.0 million with IM8 revenue of$33.8 million , up 23.1% from IM8 revenue of$27.4 million in Q4 2025- Raises full-year 2026 IM8 revenue guidance to
$190 million to$210 million (previously$180 million to$200 million ) - Company projects Q2 2026 revenue of
$46 million to$48 million , with IM8 contributing$44 million to$46 million , representing approximately 33% sequential quarterly growth for IM8 - IM8 announces the launch of 3 new SKUs in Q4 with Hydration, Creatine and Kids’ Gummies
Prenetics divests full stake of digital assets for$41.3 million in proceeds, further boosting its cash balancePrenetics executed approximately$19 million of previously announced$40 million share buyback program- Appointed consumer supplements finance veteran
Brian J. Rosin as Chief Financial Officer of IM8 - Company to host earnings call on
May 14, 2026 , at8:30 a.m. ET and latest investor deck can be found at https://ir.prenetics.com
The Company is furnishing preliminary operating results to provide investors with a timely update on IM8’s continued momentum and Prenetics’ strategic transformation, while the Company completes its customary quarter-end closing procedures and related review processes. These procedures include valuation workstreams principally related to non-cash fair-value measurements associated with the Europa 3PL business disposal-related consideration and outstanding warrants. Following completion of these procedures, the Company expects to provide full financial results for the first quarter ended
Upon the completion of its customary quarter-end closing procedures and related review processes, the Company expects to report revenue of
Preliminary Operating Results
| Three Months Ended (Unaudited) | |||||||||
| % Change | |||||||||
| (in million of | |||||||||
| Continuing operations | |||||||||
| Revenue | $ | 36.0 | $ | 8.3 | 334.5% | ||||
| Gross profit | 23.3 | 5.6 | 315.2% | ||||||
| Loss from operations | (8.9 | ) | (6.0 | ) | 48.5% | ||||
| EBITDA1 | (26.2) - (4.2 | ) | (10.7 | ) | 145.1% - (60.3)% | ||||
| Adjusted EBITDA2 | (5.6 | ) | (4.5 | ) | 23.8% | ||||
The below tables set out our revenue and gross profit by business unit for the first quarters ended
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1 EBITDA is a non-IFRS financial measure used by us to measure the strength of our core financial and operating performance. EBITDA excludes (1) depreciation and amortization, (2) interest income, (3) other finance costs, and (4) income tax expense. For more information regarding this non-IFRS financial measure, see "Unaudited Non-IFRS Financial Measures."
2 Adjusted EBITDA is a non-IFRS financial measure used by us to measure the strength of our core financial and operating performance. Adjusted EBITDA represents EBITDA further adjusted to exclude (1) equity-settled share-based payment expenses, (2) non-recurring expenses related to acquisition, disposal and fundraising, (3) strategic realignment and discontinued products impact, (4) exchange gain or loss, net, (5) fair value loss on financial assets at fair value through profit or loss, (6) fair value loss/(gain) on warrant liabilities, (7) unrealized fair value loss on digital asset, (8) share of loss of equity-accounted investees, net of tax, (9) gain on disposal of an equity-accounted investee, and (10) profit from discontinued operations, net of tax. These adjustments are made for items that may not be indicative of our business performance, including non-cash and/or non-recurring items. For more information regarding this non-IFRS financial measure, see "Unaudited Non-IFRS Financial Measures."
| Three Months Ended (Unaudited) | |||||||
| Revenue | Gross profit | Gross margin | |||||
| (in million of | |||||||
| Continuing operations | |||||||
| CircleDNA | $ | 2.2 | $ | 1.6 | 71.6% | ||
| IM8 | 33.8 | 21.7 | 64.3% | ||||
| $ | 36.0 | $ | 23.3 | 64.8% | |||
| Three Months Ended (Unaudited) | |||||||
| Revenue | Gross profit | Gross margin | |||||
| (in million of | |||||||
| Continuing operations | |||||||
| CircleDNA | $ | 2.5 | $ | 2.2 | 86.2% | ||
| IM8 | 5.7 | 3.4 | 59.6% | ||||
| $ | 8.3 | $ | 5.6 | 67.8% | |||
IM8: A Breakout Global Brand
IM8 continued to demonstrate strong global product-market fit and brand momentum, with Q1 2026 revenue of approximately
IM8 – Key Performance Indicators
| Metric | Q1 2026 | Q4 2025 | Growth | |||||
| Monthly Revenue (End of Period) | +18% | |||||||
| Quarterly Revenue | +23% | |||||||
| Total Customer Orders | 220,000+ | 230,000+ | (4)% | |||||
| Total Servings Delivered | 8.8 million+ | 6.9 million+ | +28% | |||||
| New Customer Average Order Value | +53% | |||||||
| Average Order Value (Last Month of Period) | +20% | |||||||
| New Customer Subscription Rate | ~79% | ~80% | Maintained | |||||
| Gross Margin | ~64% | ~60% | +4% | |||||
IM8 delivered meaningful gross margin expansion in Q1 2026, improving from approximately 60% in Q4 2025 to approximately 64% in Q1 2026, an approximately 400 basis point increase quarter-over-quarter. The improvement was driven by a combination of scale-driven manufacturing efficiencies as production volumes increased across the Daily Ultimate Essentials Pro and Daily Ultimate Longevity lines, renegotiated unit economics with key contract manufacturers and ingredient suppliers, a favorable product mix shift toward higher-margin SKUs and subscription orders, packaging optimization, and improved fulfillment and freight efficiencies as order density grew across our 43 international markets. We expect to maintain gross margin efficiencies through the balance of 2026 as volumes scale further and supply chain initiatives mature.
Total servings delivered grew approximately 28% quarter-over-quarter to over 8.8 million, reflecting accelerating consumer engagement and increased product consumption across IM8’s global customer base. Total customer orders declined modestly quarter-over-quarter to approximately 220,000, due to IM8’s deliberate and strategic transition towards quarterly subscription plans, which consolidate three months of customer demand into a single, larger order. As a result, average servings per order increased approximately 33% in Q1 2026, consistent with broader quarterly plan adoption. The Company continues to see an increase in average order value as it expands internationally and scales higher-value subscription formats.
_____________________________
3 The Company uses annualized recurring revenue (“ARR”) as a key operating metric and is calculated by multiplying the monthly revenue from the last month of a given period by 12.
Global Diversification of IM8 Revenue
IM8 continues to expand its international reach, and by the end of Q1 2026, IM8 shipped to 43 countries, with over 60% of IM8 revenue generated outside
Top Five IM8 Markets (Q1 2026)
| Market | Q1 2026 IM8 Revenue | % of Total Q1 2026 IM8 Revenue | ||
| 38.7% | ||||
| 13.7% | ||||
| 9.8% | ||||
| 5.6% | ||||
| 4.2% | ||||
Strategic Evolution Towards Quarterly Subscriptions – Driving Step-Change in Average Order Value
Following the initial rollout of quarterly subscription plans in
The impact of this transition has been substantial:
- FY2025 average order value:
~$110 - Q4 2025 (last month of period) average order value:
~$133 - Q1 2026 (new customer) average order value:
~$240
IM8’s (new customer) average order value increased to approximately
Quarterly plans represented a meaningful portion of new customer mix in Q1 2026, with approximately half of
Q2 2026 Outlook
Building on the momentum demonstrated in Q1 2026 and reflecting preliminary Q2 2026 performance, the Company currently expects Q2 2026 revenue in the range of approximately
Based on this trajectory, we currently expect Q2 2026 revenues of approximately
Looking ahead, I am especially excited about our product roadmap. In Q4 2026, IM8 plans to launch new offerings in three meaningful categories with very large addressable markets — hydration, creatine and kids’ gummies — extending the brand into high-growth segments and giving our global community more ways to make IM8 part of their daily lives. Each of these launches is grounded in the same standard that defines IM8: world-class science, premium ingredients and genuine consumer demand.
What we have built with
A World-Class Roster of
A defining feature of the IM8 brand is its roster of world-class athlete partners, each of whom has a direct equity-based alignment with the Company’s long-term success. Co-founded with
Expanding the IM8 Product Portfolio – New Q4 2026 Launches
IM8 plans to extend its product portfolio in Q4 2026 with new offerings in three meaningful adjacent categories: hydration, creatine and kids' gummies. These categories represent large, fast-growing segments of the global consumer health market — the global hydration category is approximately
A Strong, Debt-Free Balance Sheet
Based on latest available information, as of
Returning Capital to Shareholders
On
Advancing Global Nutrition – Partnership with Vitamin Angels
In
The partnership extends IM8’s mission beyond premium nutrition to address malnutrition among the world’s most vulnerable populations. The Company believes that meaningful brand impact is inseparable from meaningful social impact, and that scaling clinical-grade nutrition globally and supporting universal access to essential nutrition are complementary expressions of the same purpose.
Strengthening IM8 Leadership for the Next Phase of Growth
IM8 also strengthened its leadership team with the appointment of
Q1 2026 Earnings Conference Call
The Company will hold its earnings conference call on
| Date: | |
| Time: | |
| Dial-in: | 1-877-425-9470 |
| International Dial-in: | 1-201-389-0878 |
| Webcast | https://viavid.webcasts.com/starthere.jsp?ei=1762906&tp_key=0987da3dac |
An audio replay of the webcast will be available on the Company’s investor relations website at https://ir.prenetics.com/.
About
About IM8
IM8 is the pinnacle of premium core nutrition, born from a collaboration between
Investor Relations Contact
investors@prenetics.com
PRE@mzgroup.us
Investor Relations / Corporate Finance
angela.hm.cheung@prenetics.com
Forward-Looking Statements
This press release contains forward-looking statements. These statements are made under the “safe harbor” provisions of the
Basis of Presentation
Figures for prior periods have been re-presented in accordance with IFRS 5 Non-current Assets Held for Sale and Discontinued Operations (“IFRS 5”). In
The Group also completed the divestiture of substantially all of the assets of its Europa business in
In accordance with IFRS 5, the results of discontinued operations are presented separately from the Group’s continuing operations (comprising IM8 and CircleDNA) in the unaudited consolidated statements of profit or loss and other comprehensive income, and comparative figures for those statements have been re-presented accordingly. The unaudited consolidated statements of financial position have not been retrospectively reclassified.
Unaudited non-IFRS financial measures have been provided in this press release. An explanation of these measures is also included below under the heading “Unaudited Non-IFRS Financial Measures”.
Selected Preliminary Unaudited Financial Information
The financial results presented in this press release are preliminary and unaudited and remain subject to completion of the Company’s year-end audit by an independent registered public accounting firm. The Company expects to include its audited consolidated financial statements for the year ended
The Company is furnishing selected preliminary unaudited financial information for the quarter ended
The remaining procedures principally relate to valuation of warrants associated with the Company’s
These pending valuation workstreams are not expected to materially affect the selected operating metrics included in this press release, including revenue, gross profit, operating loss, EBITDA and adjusted EBITDA.
The selected preliminary unaudited financial information furnished in this press release does not constitute a complete set of interim financial statements and should not be viewed as a substitute for complete quarterly financial information.
The selected preliminary unaudited financial information remains subject to completion of the Company’s quarter-end closing procedures, management review and other customary review processes. The Company expects to furnish additional quarterly financial information after these processes have been completed.
Unaudited Non-IFRS Financial Measures
To supplement the Company’s consolidated financial statements prepared in accordance with IFRS Accounting Standards, the Company is providing the following non-IFRS measures: EBITDA and adjusted EBITDA. These non-IFRS financial measures are not based on any standardized methodology prescribed by IFRS Accounting Standards and are not necessarily comparable to similarly-titled measures presented by other companies. Management believes these non-IFRS financial measures are useful to investors in evaluating the Company’s ongoing operating results and trends.
Management is excluding from some or all of its non-IFRS results (1) depreciation and amortization, (2) interest income, (3) other finance costs, (4) income tax expense, (5) equity-settled share-based payment expenses, (6) non-recurring expenses related to acquisition, disposal and fundraising, (7) strategic realignment and discontinued products impact, (8) exchange gain or loss, net, (9) fair value loss on financial assets at fair value through profit or loss, (10) fair value loss/(gain) on warrant liabilities, (11) unrealized fair value loss on digital asset, (12) share of loss of equity-accounted investees, net of tax, (13) gain on disposal of an equity-accounted investee, and (14) profit from discontinued operations, net of tax. These adjustments are made for items that may not be indicative of our business, results of operations, or outlook, including but not limited to non-cash and/or non-recurring items. These non-IFRS financial measures are limited in value because they exclude certain items that may have a material impact on the reported financial results. Management accounts for this limitation by analyzing results on an IFRS Accounting Standards basis as well as a non-IFRS basis, and also by providing IFRS Accounting Standards measures in the Company’s public disclosures.
In addition, other companies, including companies in the same industry, may not use the same non-IFRS measures or may calculate these metrics in a different manner than management, or may use other financial measures to evaluate their performance, all of which could reduce the usefulness of these non-IFRS measures as comparative measures. Because of these limitations, the Company’s non-IFRS financial measures should not be considered in isolation from, or as a substitute for, financial information prepared in accordance with IFRS Accounting Standards.
Investors are encouraged to review the breakdown provided in the non-IFRS reconciliation set forth in the below table captioned “Reconciliation of loss for the period under IFRS Accounting Standards and adjusted EBITDA (Non-IFRS).”
Unaudited Non-IFRS Financial Measures
(All amounts in thousands of
Reconciliation of loss for the period under IFRS Accounting Standards and adjusted EBITDA (Non-IFRS)
| Three Months Ended | |||||||
| Low End | High End | ||||||
| Loss for the period under IFRS Accounting Standards | $ | (26,176 | ) | $ | (4,176 | ) | |
| Depreciation and amortization | 184 | 184 | |||||
| Interest income | (294 | ) | (294 | ) | |||
| Other finance costs | 10 | 10 | |||||
| Income tax expense | 28 | 28 | |||||
| EBITDA | (26,248 | ) | (4,248 | ) | |||
| Equity-settled share-based payment expenses | 1,242 | 1,242 | |||||
| Non-recurring expenses related to acquisition, disposal and fundraising | 953 | 953 | |||||
| Strategic realignment and discontinued products impact | 1,252 | 1,252 | |||||
| Exchange gain or loss, net | (71 | ) | (71 | ) | |||
| Fair value loss on financial assets at fair value through profit or loss | 2,050 | 50 | |||||
| Fair value loss/(gain) on warrant liabilities | 9,731 | (10,269 | ) | ||||
| Unrealized fair value loss on digital assets | 9,830 | 9,830 | |||||
| Share of loss of equity-accounted investees, net of tax | 164 | 164 | |||||
| Gain on disposal of an equity-accounted investee | (4,202 | ) | (4,202 | ) | |||
| Profit from discontinued operations, net of tax | (300 | ) | (300 | ) | |||
| Adjusted EBITDA (Non-IFRS) | $ | (5,599 | ) | $ | (5,599 | ) | |
Source: