Revenue growth accelerated to 107.7% in 2026Q1, yet the company continues to struggle with operational inefficiencies, reporting a -27.0% operating margin.
| Sales/Revenue | 113.75M | 92.39M | 30.62M | 21.74M | 13.16M | 12.53M | 65.18M | 9.23M |
| Revenue Growth % | 173.96% | 201.72% | 40.83% | 65.17% | 5.04% | -80.77% | 605.93% | - |
| Cost of Goods Sold | 47.41M | 43.6M | 15.22M | 12.91M | 9.55M | 8.93M | 38.83M | 6.52M |
| COGS % of Revenue | - | 47.19% | 49.71% | 59.39% | 72.52% | 71.25% | 59.58% | 70.59% |
| Gross Profit | 66.34M | 48.79M | 15.4M | 8.83M | 3.62M | 3.6M | 26.34M | 2.72M |
| Gross Margin % | 58.32% | 52.81% | 50.29% | 40.61% | 27.48% | 28.75% | 40.42% | 29.41% |
| Gross Profit Growth % | - | 216.82% | 74.41% | 144.05% | 0.43% | -86.33% | 870.24% | - |
| Operating Expenses | 104.66M | 86.92M | 63.54M | 60.74M | 69.64M | 60.26M | 27.34M | 23.52M |
| OpEx % of Revenue | - | 94.08% | 207.52% | 279.34% | 529.02% | 480.86% | 41.95% | 254.72% |
| Selling, General & Admin | 95.47M | 79.8M | 55.37M | 49.68M | 64.08M | 53.67M | 23.11M | 17.96M |
| SG&A % of Revenue | - | 86.37% | 180.81% | 228.5% | 486.79% | 428.24% | 35.45% | 194.46% |
| Research & Development | 4.57M | 5.13M | 10.92M | 11.66M | 5.99M | 6.39M | 2.78M | 2.99M |
| R&D % of Revenue | - | 5.55% | 35.67% | 53.64% | 45.5% | 51% | 4.27% | 32.38% |
| Other Operating Expenses | 801K | 1.99M | -2.75M | -606.84K | -430K | 202.18K | 1.45M | 2.57M |
| Operating Income | -38.33M | -38.13M | -48.14M | -51.91M | -66.02M | -56.66M | -995.13K | -20.8M |
| Operating Margin % | -33.69% | -41.27% | -157.23% | -238.73% | -501.53% | -452.11% | -1.53% | -225.31% |
| Operating Income Growth % | - | 20.8% | 7.25% | 21.38% | -16.52% | -5593.94% | 95.22% | - |
| EBITDA | -35.74M | -34.35M | -42.22M | -44.11M | -58.48M | -49.32M | 1.43M | -18.57M |
| EBITDA Margin % | -31.42% | -37.18% | -137.86% | -202.88% | -444.23% | -393.49% | 2.2% | -201.11% |
| EBITDA Growth % | 36.29% | 18.64% | 4.3% | 24.57% | -18.58% | -3546.42% | 107.71% | - |
| D&A (Non-Cash Add-back) | 3.97M | 3.78M | 5.93M | 7.79M | 7.54M | 7.35M | 2.43M | 2.23M |
| EBIT | -55.64M | -35.97M | -57.5M | -55.69M | -225.58M | -216.51M | -3.84M | -20.8M |
| Net Interest Income | -174K | 801K | 1.84M | 3.8M | 230K | -42.03K | -51.52K | -53.88K |
| Interest Income | 0 | 1.04M | 2.04M | 3.92M | 472K | 201 | 8.04K | 15.51K |
| Interest Expense | 174K | 241K | 203K | 119.66K | 242K | 42.23K | 59.57K | 69.39K |
| Other Income/Expense | -35.09M | 1.92M | -9.56M | -4.76M | -159.8M | -159.89M | -2.91M | -69.39K |
| Pretax Income | -73.41M | -36.21M | -57.7M | -56.67M | -225.82M | -216.55M | -3.9M | -20.87M |
| Pretax Margin % | -64.54% | -39.2% | -188.44% | -260.63% | -1715.44% | -1727.9% | -5.99% | -226.06% |
| Income Tax | 47K | 34K | -7.87M | -269.36K | -245K | 2.57M | -1.94M | -677.47K |
| Effective Tax Rate % | -0.06% | -0.09% | 13.65% | 0.48% | 0.11% | -1.19% | 49.66% | 3.25% |
| Net Income | -71.04M | -37.71M | -46.3M | -62.72M | -190.45M | -174.01M | -1.94M | -20.14M |
| Net Margin % | -62.45% | -40.81% | -151.22% | -288.48% | -1446.78% | -1388.44% | -2.98% | -218.15% |
| Net Income Growth % | -47.61% | 18.56% | 26.18% | 67.07% | -9.45% | -8870.99% | 90.37% | - |
| Net Income (Continuing) | -73.46M | -36.25M | -49.83M | -56.4M | -225.58M | -219.12M | -1.96M | -20.2M |
| Discontinued Operations | -744K | -3.73M | 22K | -8.38M | 35.12M | 45.11M | 0 | 0 |
| Minority Interest | -93K | -93K | 957K | 3.8M | 6.4M | -84.97K | -77.41K | -53.21K |
| EPS (Diluted) | -4.18 | -2.68 | -3.64 | -5.58 | -37.57 | -47.04 | -0.26 | -2.73 |
| EPS Growth % | -20.21% | 26.37% | 34.77% | 85.15% | 20.13% | -17992.31% | 90.48% | - |
| EPS (Basic) | - | -2.68 | -3.64 | -5.58 | -37.57 | -47.04 | -0.26 | -2.73 |
| Diluted Shares Outstanding | 16.98M | 14.05M | 12.71M | 11.25M | 5.07M | 3.7M | 7.4M | 7.4M |
| Basic Shares Outstanding | 16.98M | 14.05M | 12.71M | 11.25M | 5.07M | 3.7M | 7.4M | 7.4M |
| Dividend Payout Ratio | - | - | - | - | - | - | - | - |
High cash burn rate
According to reported financial statements, Prenetics achieved a 107.7% year-over-year revenue growth in 2026Q1, signaling a rapid expansion phase that appears to be driven by the successful commercialization of clinical diagnostic products rather than the legacy pandemic-related testing volumes that previously dominated the company's top-line performance.
The recent acceleration in revenue suggests that the company's pivot toward oncology and preventative screening is gaining traction within its core Asian markets. However, investors should monitor whether this growth trajectory is sustainable or if it remains dependent on lumpy, non-recurring diagnostic contracts that could lead to future volatility.
Based on the provided income statement data, Prenetics reported a gross margin of 64.8% in 2026Q1, representing a notable improvement from the 37.2% trough observed in 2024Q4, which suggests that the company is successfully shifting its product mix toward higher-margin clinical diagnostic services and away from lower-margin consumer offerings.
While the recovery in gross margins is encouraging, the structural profitability remains fragile due to the high variable costs associated with laboratory reagents and specialized logistics. The ability to maintain these margins will likely depend on the company's success in scaling its ColoClear platform and achieving greater operational efficiencies in its laboratory network.
As indicated by the latest quarterly figures, Prenetics continues to struggle with significant operating inefficiencies, as evidenced by an operating margin of -27.0% in 2026Q1, which highlights that SG&A expenses remain disproportionately high relative to the company's current revenue base and gross profit generation capabilities.
The persistent gap between gross profit and operating income suggests that the company is still in a heavy investment phase, likely prioritizing customer acquisition and infrastructure development over immediate profitability. Without a meaningful reduction in SG&A intensity, the company may continue to face challenges in achieving a sustainable path toward positive operating cash flow.
Based on the reported figures, the company's reliance on significant quarterly cash outflows to fund operations, coupled with a net margin of -64.3% in 2026Q1, raises serious questions regarding the long-term viability of the current business model without the need for further dilutive capital raises.
Short-term observers may focus on the discrepancy between the company's aggressive revenue growth and its inability to narrow net losses, which suggests that the current scaling strategy may be inefficient. Investors should remain cautious, as the company's limited cash reserves may force a pivot toward cost-cutting that could inadvertently stifle the very growth drivers currently supporting the top-line expansion.
Quick answers to the most common questions about buying PRE stock.
For fiscal year 2025, Prenetics Global Limited (PRE) reported total revenue of $92.4M. This represents a 900.6% increase compared to $9.2M in 2019.
Prenetics Global Limited (PRE) reported a net loss of $37.7M for the fiscal year ending 2025.
Prenetics Global Limited (PRE) reported an operating income of $-38.1M, resulting in an operating profit margin of -41.3%. This margin reflects the operational efficiency of the business before interest and taxes.
Prenetics Global Limited (PRE) generated $48.8M in gross profit for the year, representing a gross profit margin of 52.8%. This demonstrates the company's core pricing power and production efficiency.