Detailed financial statements for Prenetics Global Limited (PRE): income statement, balance sheet and cash-flow summary. Track margins, debt, liquidity and profitability trends year over year with up to 20 years of history.
Prenetics Global Limited is a consumer health sciences company that has pivoted to focus on a consumer health and longevity platform. The company's main brand is IM8, which offers science-backed nutritional supplements. It also operates CircleDNA, a consumer genetic testing brand that provides personalized health reports based on sequencing technology.
Analysis Summary
Prenetics Global Limited reported revenue of $92.4M in the most recent fiscal year, growing at a 5-year CAGR of 7.2%.
Trailing-twelve-month margins: gross margin 62.6%, operating margin -35.2%, net margin -47.4%.
At the current price of $24.19, PRE has negative trailing earnings (P/E not meaningful) and an ROE of -49.17%. Market capitalisation stands at $411M.
Balance sheet quality for PRE: current ratio of 3.0, net cash position of $59.3M. A debt-to-equity below 1.0 typically signals conservative capital structure, while a current ratio above 1.5 indicates comfortable short-term liquidity.
Income Statement (10y)
| Year | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|
| Revenue | $9.2M | $65.2M | $12.5M | $13.2M | $21.7M | $30.6M | $92.4M |
| Cost of Revenue | $6.5M | $38.8M | $8.9M | $9.5M | $12.9M | $15.2M | $43.6M |
| Gross Profit | $2.7M | $26.3M | $3.6M | $3.6M | $8.8M | $15.4M | $48.8M |
| Research & Development | $3.0M | $2.8M | $6.4M | $6.0M | $11.7M | $10.9M | $5.1M |
| Selling, General & Admin | $18.0M | $23.1M | $53.7M | $64.1M | $49.7M | $55.4M | $79.8M |
| Operating Expenses | $23.5M | $27.3M | $60.3M | $69.6M | $60.7M | $63.5M | $86.9M |
| Operating Income | -$20.8M | -$995126 | -$56.7M | -$66.0M | -$51.9M | -$48.1M | -$38.1M |
| EBITDA | -$18.6M | -$1.4M | -$209.2M | -$218.0M | -$47.9M | -$51.6M | -$32.2M |
| Interest Expense | $69390 | $59567 | $42229 | $242000 | $119662 | $203000 | $241000 |
| Pre-tax Income | -$20.9M | -$3.9M | -$216.6M | -$225.8M | -$56.7M | -$57.7M | -$36.2M |
| Income Tax | -$677474 | -$1.9M | $2.6M | -$245000 | -$269359 | -$7.9M | $34000 |
| Net Income | -$20.1M | -$1.9M | -$174.0M | -$190.5M | -$62.7M | -$46.3M | -$37.7M |
| EPS | $-2.73 | $-0.26 | $-47.04 | $-37.57 | $-5.58 | $-3.64 | $-2.68 |
| EPS (Diluted) | $-2.73 | $-0.26 | $-47.04 | $-37.57 | $-5.58 | $-3.64 | $-2.68 |
| Shares Outstanding (Diluted) | $7.4M | $7.4M | $3.7M | $5.1M | $11.2M | $12.7M | $14.1M |
Income Statement (Quarterly)
| Year | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|---|---|---|---|
| Revenue | $23.6M | $36.6M | $36.0M | $46.5M |
| Gross Profit | $14.0M | $21.7M | $23.3M | $30.2M |
| Operating Income | -$6.2M | -$12.4M | -$9.7M | -$21.9M |
| EBITDA | -$6.7M | -$24.5M | -$9.5M | -$21.7M |
| Net Income | -$7.4M | -$28.1M | -$23.1M | -$9.0M |
| EPS | $-0.53 | $-1.75 | $-1.36 | $-0.52 |
| EPS (Diluted) | $-0.53 | $-1.75 | $-1.36 | $-0.52 |
Balance Sheet (10y)
| Year | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $11.5M | $14.5M | $35.3M | $146.7M | $45.7M | $52.3M | $32.1M |
| Short-term Investments | $294064 | $314715 | $9.9M | $37.5M | $27.0M | $10.6M | $29.4M |
| Receivables | $2.9M | $23.1M | $47.1M | $42.5M | $5.3M | $5.6M | $3.0M |
| Inventory | $547854 | $4.5M | $6.8M | $4.5M | $3.1M | $6.6M | $7.1M |
| Total Current Assets | $15.6M | $44.0M | $106.9M | $241.8M | $93.7M | $86.1M | $83.4M |
| Property, Plant & Equipment | $2.1M | $4.7M | $13.0M | $13.1M | $5.8M | $7.8M | $1.8M |
| Goodwill | $3.9M | $4.0M | $4.0M | $33.8M | $29.2M | $37.4M | 0 |
| Intangible Assets | $6.3M | $24.0M | $23.8M | $14.8M | $13.4M | $11.6M | $44.7M |
| Total Assets | $29.7M | $78.9M | $148.5M | $312.1M | $254.2M | $213.6M | $203.5M |
| Accounts Payable | $2.8M | $13.4M | $10.0M | $7.3M | $1.7M | $3.7M | $7.7M |
| Short-term Debt | 0 | $15.5M | $1.7M | 0 | 0 | 0 | $1.3M |
| Total Current Liabilities | $11.9M | $47.1M | $58.7M | $57.2M | $39.5M | $36.6M | $27.7M |
| Long-term Debt | $124320 | 0 | $486.4M | 0 | 0 | 0 | $437000 |
| Total Liabilities | $12.8M | $47.9M | $549.4M | $68.7M | $44.0M | $42.2M | $29.0M |
| Retained Earnings | -$41.6M | -$43.6M | 0 | -$408.0M | -$470.8M | -$517.1M | 0 |
| Total Equity | $16.9M | $31.1M | -$400.8M | $237.1M | $206.4M | $170.4M | $174.6M |
| Total Debt | $1.5M | $17.1M | $491.7M | $6.6M | $2.4M | $5.8M | $2.2M |
| Net Debt | -$10.4M | $2.3M | $446.5M | -$177.5M | -$70.4M | -$57.0M | -$59.3M |
| Working Capital | $3.7M | -$3.1M | $48.2M | $184.6M | $54.2M | $49.6M | $55.7M |
Balance Sheet (Quarterly)
| Year | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|---|---|---|---|
| Cash & Equivalents | $13.3M | $32.1M | $56.0M | $59.0M |
| Total Assets | $196.5M | $203.5M | $175.3M | $153.7M |
| Total Liabilities | $35.3M | $29.0M | $54.3M | $60.7M |
| Total Equity | $161.3M | $174.6M | $121.1M | $93.0M |
| Total Debt | $2.1M | $2.2M | $457000 | $682000 |
Cash Flow (10y)
| Year | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|
| Net Income | -$20.2M | -$2.0M | -$174.0M | -$190.5M | -$64.8M | -$49.8M | -$52.7M |
| Depreciation & Amortization | $2.2M | $2.4M | $7.3M | $7.5M | $7.8M | $5.9M | $3.8M |
| Stock-based Compensation | $3.9M | $1.6M | $22.5M | $31.6M | $10.6M | $12.0M | 0 |
| Change in Working Capital | $10.2M | -$7.8M | -$6.6M | -$33.8M | $24.2M | $2.0M | $6.6M |
| Operating Cash Flow | -$1.9M | -$2.9M | $13.4M | $14.5M | -$13.8M | -$28.9M | -$21.8M |
| Capital Expenditure | -$373858 | -$3.1M | -$11.4M | -$6.3M | -$911813 | -$1.1M | -$208000 |
| Acquisitions | -$4.2M | -$2.9M | 0 | -$3.4M | 0 | $21.7M | $37.8M |
| Stock Repurchased | 0 | 0 | 0 | -$661519 | -$1.2M | -$577000 | 0 |
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Free Cash Flow | -$2.3M | -$5.9M | $2.0M | $8.2M | -$14.7M | -$29.9M | -$22.0M |
Cash Flow (Quarterly)
| Year | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|---|---|---|---|
| Operating Cash Flow | 0 | -$21.8M | -$12.1M | -$15.5M |
| Capital Expenditure | 0 | -$208000 | 0 | $15.5M |
| Free Cash Flow | 0 | -$22.0M | -$12.1M | 0 |
| Dividends Paid | 0 | 0 | 0 | 0 |
| Stock-based Compensation | 0 | -$3.0M | $1.2M | 0 |
Growth & Margins (10y)
| Year | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|
| Revenue Growth (YoY) | +605.9% | -80.8% | +5.0% | +65.2% | +40.8% | +201.7% | |
| Net Income Growth (YoY) | +90.4% | -8871.0% | -9.5% | +67.1% | +26.2% | +18.6% | |
| EPS Growth (YoY) | +90.5% | -17992.3% | +20.1% | +85.1% | +34.8% | +26.4% | |
| Shares Change (YoY) | +0.0% | -50.0% | +37.0% | +121.8% | +13.0% | +10.6% | |
| FCF Growth (YoY) | -163.2% | +133.7% | +307.7% | -279.6% | -104.0% | +26.5% | |
| Gross Margin | 29.4% | 40.4% | 28.7% | 27.5% | 40.6% | 50.3% | 52.8% |
| Operating Margin | -225.3% | -1.5% | -452.1% | -501.5% | -238.7% | -157.2% | -41.3% |
| EBITDA Margin | -201.1% | -2.2% | -1668.9% | -1656.3% | -220.3% | -168.4% | -34.8% |
| Net Margin | -218.2% | -3.0% | -1388.4% | -1446.8% | -288.5% | -151.2% | -40.8% |
| FCF Margin | -24.4% | -9.1% | 16.0% | 62.1% | -67.5% | -97.8% | -23.8% |
| Effective Tax Rate | 3.2% | 49.7% | -1.2% | 0.1% | 0.5% | 13.6% | -0.1% |
Per-Share Data (10y)
| Year | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|
| FCF Per Share | $-0.31 | $-0.80 | $0.54 | $1.61 | $-1.31 | $-2.36 | $-1.57 |
| Dividends Per Share | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 |
| Shares Outstanding (Basic) | $7.4M | $7.4M | $3.7M | $5.1M | $11.2M | $12.7M | $14.1M |
What to look at in Healthcare / Pharma
The R&D pipeline is the invisible asset. Patents expiring = revenues evaporating. Look at innovation and cash flow.
- R&D / Revenue — Shows investment in future pipeline. Serious pharma reinvests 15-20%
- 5y EPS growth — After patent expirations, are they still growing?
- Gross margin — Branded pharma >70%. Generics much lower — defines the business type
- FCF / Net Income — Earnings quality — big pharma should convert >90%
- ROIC — Capital reinvested efficiently — key in pharma due to long R&D cycles
- Net debt / EBITDA — Pharma acquisitions pile up debt — watch the post-M&A picture
- P/E vs own 10y history — The best comparison is with its own history, not with peers
Profitability
| Return on Equity | -49.17% |
| Return on Invested Capital | -42.66% |
| Return on Assets | -44.00% |
| Gross Margin | 62.61% |
| Operating Margin | -35.20% |
| Net Margin | -47.43% |
Financial Health
| Debt / Equity | 0.01 |
| Current Ratio | 4.04 |
Key Ratios (10y)
| Year | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|
| P/E | -41.74 | -438.27 | -2.45 | -0.80 | -1.06 | -1.59 | -5.88 |
| P/B | 49.87 | 27.12 | -1.06 | 0.64 | 0.32 | 0.43 | 1.27 |
| P/S | 91.31 | 12.93 | 34.01 | 11.55 | 3.06 | 2.41 | 2.40 |
| Gross Margin | 29.4% | 40.4% | 28.7% | 27.5% | 40.6% | 50.3% | 52.8% |
| Operating Margin | -225.3% | -1.5% | -452.1% | -501.5% | -238.7% | -157.2% | -41.3% |
| Net Margin | -218.2% | -3.0% | -1388.4% | -1446.8% | -288.5% | -151.2% | -40.8% |
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