Biome (ASX:BIO) has released a three year revenue target on Monday, “up to $85M cumulative through the next three years.”
Biome reported its last three year target for FY21-24 was an underestimate, given a 14% higher cumulative revenue over that period.
The new target of “up to $85M” between FY25-FY27 is one 400% higher than the previous target.
If the three year target released today, or three year targets in general, could be too long-term to rouse intense excitement, it was perhaps evident on Monday. Shares jumped 7% in the first hour of trade to 53cps.
With that said, year to date returns are up +160% and, YoY, traders are looking at gains of +457%. The company reported record revenues earlier this month.
(It should also be noted the entire “point” of investing is a long term hold, as opposed to day trading.)
At the start of 2024, the company expanded into the UK and Ireland.
“The team and I are energised about the next exciting growth phase as Biome becomes one of the most significant Australian and global companies in complementary medicine,” Biome founder and MD Blair Vega Norfolk said.
“We have built an incredible foundation and brand in Activated Probiotics, which is becoming a household name beyond the Australian market.”
BIO last traded at 53.5cps.