Prenetics Global Q2 Earnings Call Highlights

Prenetics Global reported a 29% increase in second-quarter revenue to $46.5 million, marking a significant 3.9-fold growth compared to the previous year. The company's IM8 supplement business continued to expand, adding new subscribers and increasing marketing investments. For the year, Prenetics raised its revenue outlook, projecting total revenue between $220 million and $230 million, with IM8 expected to generate $215 million to $222 million.

In July, Prenetics achieved its first month of positive consolidated adjusted free cash flow, supported by funding from General Catalyst. During the quarter, the company acquired 118,000 new IM8 customers, a 98% increase from the prior quarter, with a customer acquisition cost that remained flat or slightly decreased despite higher spending.

Prenetics currently operates in 46 countries, with a strong focus on direct-to-consumer sales through its website, accounting for about 95% of transactions. The company's IM8 products have been certified for sport and have undergone third-party batch testing. Management highlighted three ongoing randomized controlled studies assessing the effectiveness of IM8 products.