Prenetics Global Limited reported full‑year 2025 revenue of $92.4 million, a 480 % year‑over‑year increase from $15.9 million in FY 2024. The surge is almost entirely driven by the IM8 consumer‑health brand, which generated $60.1 million in revenue and achieved an annualized recurring revenue of roughly $120 million, surpassing $100 million in ARR within just 11 months of launch.
Q4 2025 revenue rose to $36.6 million, up 55 % sequentially and 457.1 % year‑over‑year from $6.6 million in Q4 2024. The quarter’s growth was largely powered by the continued expansion of IM8, which accounted for the majority of the revenue increase while legacy segments remained flat or declined.
Gross margin for the year improved to 53.0 %, up from 48.8 % in FY 2024, and Q4 gross margin reached 59.5 %. The margin expansion reflects a higher mix of high‑margin IM8 sales and improved unit economics as the brand scales, offsetting any cost pressures from broader operations.
The company posted a Q4 non‑GAAP loss per share of $0.27, beating the consensus estimate of $0.35. The beat was driven by disciplined cost management and the favorable mix of high‑margin IM8 revenue, which helped offset the broader loss profile.
Guidance for Q1 2026 projects revenue of $36.6 million, a 55 % sequential increase, and the company reaffirmed its 2026 IM8 revenue guidance of $180 million to $200 million. The guidance signals management’s confidence in sustained demand for IM8 and the ability to scale the brand globally.
"We are confidently reaffirming our 2026 IM8 revenue guidance of $180 million to $200 million, with a path toward $250 million to $300 million in ARR by the end of 2026. IM8 is rapidly becoming a global, category‑defining health brand—and this is only the beginning," said CEO Danny Yeung.
Analysts gave mixed to positive ratings on the results, citing the strong performance of IM8 and the company’s robust liquidity position. The guidance and margin improvement reinforced confidence in Prenetics’ strategic focus on the high‑growth IM8 segment.
Prenetics has completed strategic divestitures of non‑core assets, leaving the company with zero debt and $171 million in adjusted liquidity as of February 15 2026. The capital freed by these sales is earmarked for accelerating IM8’s global expansion and investing in new product development.
Overall, Prenetics’ FY 2025 results demonstrate a successful pivot to a high‑margin, high‑growth consumer‑health brand, with a clear path to profitability and continued expansion in 2026 and beyond.
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