PRENW · Prenetics Global Limited

Prenetics Global Limited reported preliminary Q1 2026 results, with total revenue of $36.0 million, a 334.5% increase year-over-year, driven by its IM8 health and longevity brand. IM8 revenue reached $33.8 million, up 23.1% sequentially from Q4 2025 and nearly 6x from $5.7 million in Q1 2025. Gross profit for the quarter was $23.3 million, with an overall gross margin of 64.8%, while IM8 gross margin improved to 64.3% from 59.6% a year ago, attributed to scale efficiencies and product mix. The company reported a GAAP loss from operations of $8.9 million and an adjusted EBITDA loss of $5.6 million, both wider than the prior year. Management highlighted strong momentum, with IM8 monthly revenue reaching $14.0 million in April 2026 and tracking to $15.5 million in May, implying an annualized recurring revenue of approximately $186 million. Based on this trajectory, the company raised its full-year 2026 IM8 revenue guidance to $190-$210 million from $180-$200 million and provided Q2 2026 revenue guidance of $46-$48 million, with IM8 contributing $44-$46 million. Additionally, Prenetics divested its digital asset holdings for $41.3 million post-quarter, boosting its cash balance to an estimated $91.3 million as of May 13, 2026. The company also executed $19 million of its $40 million share buyback program. IM8 plans to launch three new product categories in Q4 2026: hydration, creatine, and kids' gummies, targeting large addressable markets. The company maintains a debt-free balance sheet with net current assets of $111.7 million as of March 31, 2026.