Biome Australia expects to surpass FY24 earnings guidance on back of record sales revenue

Biome Australia (ASX: BIO) is on target to easily beat its 2024 financial year forecast after a strong period of revenue.

The microbiome health specialist had predicted FY2024 earnings of $12.5 million but record sales numbers for April and May have increased expectations.

This follows the company’s initial $11.5m estimate announced in October 2023 being upgraded to the current figure in early January.

Traditionally strong period

In updating the company’s trading results, managing director and founder Blair Vega Norfolk said the June quarter is traditionally the strongest for Biome and this financial year had followed that trend.

“I am pleased to share that Biome is delivering another exceptional quarter of sales revenue growth in Q4 FY24, bolstered by strong sell-through numbers in pharmacy and practitioner channels,” he said.

The strong result follows the company enjoying its first positive underlying cashflow and EBITDA positive quarter in Q3 FY24, feats it now expects to repeat in Q4.

New product launch

Mr Vega Norfolk added that the company was looking forward to further growth with the introduction of a new product.

Biome’s Cholesterol Probiotic – set to launch in Q1 FY25 – is designed to help support healthy cholesterol levels, with clinical trial results showing a 14% reduction in cholesterol levels over a 12-week period.

“With the launch of Biome Cholesterol, we feel confident of a strong start to FY25 in our key domestic and international markets,” he said.

“We look forward to sharing further financial updates at the conclusion of FY24.”