Biome Australia Limited (ASX: BIO) has raised its FY24 revenue guidance to AU$12.5 million, up AU$1 million from the initial forecast of AU$11.5 million. The adjustment is attributed to a robust first half performance in FY24, with revenues reaching AU$6.01 million. This upward revision signifies an impressive 74% growth compared to the preceding fiscal year's AU$7.2 million.
The microbiome health company has demonstrated consistent revenue escalation, evolving from $866K in FY20 to AU$12.5 million+ projected for FY24. The surge is largely driven by the success of Biome's Activated Probiotics in the Australian pharmacy and practitioner markets. Biome Australia's Managing Director, Blair Vega Norfolk, expressed enthusiasm, anticipating an 8.7% surpassing of the FY24 revenue target, showcasing sustained momentum in both consumer and practitioner segments.
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Nextgen Global Services Pty Ltd trading as Kapitales Research (ABN 89 652 632 561) is a Corporate Authorised Representative (CAR No. 1293674) of Enva Australia Pty Ltd (AFSL 424494). The information contained in this website is general information only. Any advice is general advice only. No consideration has been given or will be given to the individual investment objectives, financial situation or needs of any particular person. The decision to invest or trade and the method selected is a personal decision and involves an inherent level of risk, and you must undertake your own investigations and obtain your own advice regarding the suitability of this product for your circumstances. Please be aware that all trading activity is subject to both profit & loss and may not be suitable for you. The past performance of this product is not and should not be taken as an indication of future performance.