Biome posts record sales revenue of $13M in FY24 – up 80% vs pcp and higher than forecast

Biome Australia (ASX:BIO) has revealed it’s achieved record sales revenue for both the half year and full year FY24.

The company posted $13M in sales revenue for full FY24, up +80% vs pcp on an unaudited basis.

Broken down, the company clocked $7M in sales through H2 of FY24; Q4 alone of the financial year saw just short of $4M – up +88% vs pcp.

The full year revenue count exceeds by $500K revised guidance released earlier this year, and, the third consecutive quarter of positive cash flow for the company. It’s also $1.5M higher than guidance released prior to that revision.

Currently, Biome’s number one growth brand is its ‘Activated Probiotics’ line which as closed $12M in revenue through pharmacy sales.

The record half year $7M revenue is the company’s strongest half to date. Quarterly sales revenue through Q4FY24 also reflects a first for the company.

“I am delighted to share Biome’s significant growth in sales revenue for the financial year 2024, up 80% versus the financial year 2023,” Biome Australia founder and MD Blair Vega Norfolk said.

“The $15m run-rate going into FY25 bodes well for another strong year for Biome. I look forward to sharing the detailed analysis of the company’s financial performance and Vision 27 during Q1 FY25.”

Despite the positive news, BIO was down -3.45% to 56cps in late morning trades on Monday.