Biome Australia Limited (ASX: BIO) has announced a robust FY24 sales revenue guidance of AU$11.5 million, indicating a substantial 60% increase compared to the prior fiscal year's AU$7.2 million. Notably, the company is poised to achieve its first positive monthly EBITDA by June 2024, signifying a pivotal achievement in its financial trajectory. Biome continues its rapid expansion in sales revenue and distribution channels, all while effectively managing operational costs and sustaining a gross margin above 59%.
According to the announcement released on 31 July 2023, Biome is financially secure to execute its strategic plans for FY24. Ilario Faenza, Biome Australia's Chairman, expressed his satisfaction: "I am delighted to share Biome Australia's expectation of its first positive monthly EBITDA by June 2024. Years of focus and growth efforts have led to Biome achieving positive EBITDA, maintaining rapid growth, strong margins, and controlled costs.
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