Prenetics Global beats earnings estimates as IM8 brand revenue surges

Prenetics Global reported quarterly earnings that exceeded analyst expectations, posting an earnings per share (EPS) of -$0.52 compared to the consensus estimate of -$0.84. The company reported quarterly revenue of $46.49 million.

Driven by its IM8 wellness brand, Prenetics reported record July revenue of $20.9 million, representing an annualized run rate of approximately $251 million just 20 months after the brand's launch. In the second quarter, IM8 generated $45 million in revenue, a year-over-year increase of approximately 359%.

As a result of this growth, Prenetics raised its full-year revenue guidance to between $220 million and $230 million and provided 2027 revenue guidance for IM8 of at least $400 million. The company also achieved its first month of positive consolidated adjusted free cash flow in July and expects this trend to continue. The company's operations are now primarily focused on IM8 and CircleDNA.