Prenetics Global Limited reported third‑quarter 2025 results that saw total revenue climb to $23.6 million, a 568 % year‑over‑year increase from $3.528 million in Q3 2024. The company’s adjusted EBITDA loss narrowed to $2.1 million from $4.1 million in the prior quarter, reflecting tighter cost control and the benefits of scale as the business expands.
The growth was driven almost entirely by the IM8 consumer‑health brand, which generated a record $9 million in monthly revenue in October and contributed $32.7 million to the nine‑month total. Europa and CircleDNA added $16.0 million and $7.1 million respectively, bringing the nine‑month revenue to $55.8 million. IM8’s high‑margin model—approximately 60 % gross margin—continues to underpin the company’s profitability trajectory.
Prenetics maintains a disciplined Bitcoin treasury strategy, holding 387 BTC valued at roughly $41 million as of the reporting date. The company accumulates one Bitcoin per day, a policy that has bolstered its liquidity position to $120 million, of which $82 million is cash. The strategy provides a hedge against inflation while preserving capital for growth initiatives.
Guidance for the full year remains unchanged: revenue of $90–$100 million and an IM8 revenue target of $180–$200 million for fiscal 2026, translating to an estimated $300 million annualized recurring revenue by year‑end 2026. Management reiterated that break‑even is expected in Q1 2026 and EBITDA positivity will follow, underscoring confidence in the company’s path to profitability.
CEO and CFO comments highlighted the company’s focus on scaling: “Break‑even and profitability are clearly in sight. Our adjusted EBITDA loss has dramatically improved, and while we could be profitable now, the global opportunity is immense, so we will continue to scale aggressively.” The statement signals a willingness to invest heavily in growth while maintaining disciplined cost management.
Investors responded positively to the results, citing the rapid expansion of IM8, strong unit economics, and the company’s robust liquidity. Analysts noted that the 568 % revenue jump and the narrowing loss demonstrate operational leverage and a clear trajectory toward profitability.
The results reinforce Prenetics’ dual‑engine growth model: a high‑margin consumer‑health platform and a strategic Bitcoin treasury. While the Bitcoin position introduces volatility risk, the disciplined accumulation policy and strong cash reserves mitigate downside. The company’s recent $44 million equity offering and $72 million divestiture of ACT Genomics further free capital for scaling IM8 and other initiatives, positioning Prenetics for continued growth and eventual profitability.
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