Prenetics Group (PRE) has released an update.
Prenetics Group has reported a significant increase in gross margin to 63.4% in Q2 2024, driven by operational efficiencies and cost optimization, which contributed to a 23.6% rise in gross profit and a reduced adjusted EBITDA loss by 24.9% compared to the previous year. Revenue from continuing operations showed an 8% uptick in H1 2024, with the company confirming its expectation to surpass US$33 million in revenue for the fiscal year. Additionally, Prenetics is gearing up for the launch of IM8, its new health and wellness brand, in the U.S. market come October.
For further insights into PRE stock, check out TipRanks’ Stock Analysis page.
