Prenetics Global Ltd

Prenetics reported second-quarter revenue of $46.5 million, up 29% sequentially and 3.9 times year-over-year, with its IM8 brand contributing $45 million at a 65% gross margin. The company raised its full-year total revenue guidance to $220 million to $230 million, with IM8 expected to contribute $215 million to $222 million, and initiated 2027 revenue guidance of at least $400 million. July preliminary results showed record monthly revenue of $20.9 million, a record 47,373 new customers, and a customer acquisition cost of about $239, down 21% from the second quarter. Prenetics also announced that its consolidated adjusted free cash flow turned positive in July for the first time in its history, supported by a $1 billion financing commitment from General Catalyst. The company expects third-quarter revenue of $63 million to $64 million and a second-half adjusted EBITDA loss of $8 million to $12 million, an improvement from the first-half loss of $24.6 million.

Prenetics Global Limited announced that its AI-native wellness brand IM8 has closed $1 billion in growth financing from General Catalyst's Customer Value Fund. The facility will finance up to 70% of IM8's marketing spend, with General Catalyst receiving a capped share of income tied to the performance of funded customer cohorts, and no equity, warrants, or convertible instruments are issued. Prenetics raised its full-year 2026 IM8 revenue guidance to $210–220 million, up from $190–210 million, and expects IM8 to reach $300 million in annualized run-rate revenue by year-end 2026 and deliver $400 million or more in full-year 2027 revenue. IM8, co-founded by David Beckham, has delivered over 50 million servings since launch and is currently delivering approximately 200,000 servings daily across 43 markets, with every dollar invested in customer acquisition returning $1.44 in gross profit across mature cohorts. The financing is structured with no fixed repayment obligation, no maturity date, and no financial covenants, and Prenetics will classify it as a financial liability on its balance sheet with the return component recognized as interest expense below operating income.

Benchmark initiated coverage of Prenetics Global Limited with a Buy rating and a $30 price target, citing the company's IM8 health and wellness brand and its position in the nutritional supplements market. The firm noted Prenetics is positioned for long-term growth through broader product offerings, expansion into related categories, diversification of marketing channels, and increasing international market penetration. Prenetics reported first quarter 2026 total revenue of $36.0 million, including $33.8 million from IM8, and raised its full-year 2026 IM8 revenue outlook to between $190 million and $210 million. The company also completed the sale of its digital asset holdings, generating $41.3 million in proceeds, and plans to introduce three new IM8 products in the fourth quarter of 2026.