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Market Analysis Latest ASX News

Biome Australia [ASX:BIO] Surpasses $7 Million FY23 Sales Revenue Target

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By Charlie Ormond, Thursday, 15 June 2023

Biome Australia shares are up by 16.18% after news FY23 sales revenue target of $7 million has been hit with half a month of trading remaining in the quarter. This is after their flagship Activated Probiotics product range finds interest through distribution channels growth throughout Australia, the UK, and NZ.

Microbiome health company Biome Australia [ASX:BIO] has announced it has surpassed its FY23 full-year sales revenue forecast by $7 million.

As of Thursday afternoon, shares are trading at $0.079 per share — up by 16.18%.

This is with half a month of trading in the remaining financial year.

It has been a tough 12 months for the microbiome health company, with shares down by 28.42% this past year along with much of the sector.

Here’s why I think today’s move in BIO is worth your time.

ASX:BIO Biome Australia stock chart news 2023

Source: TradingView

Key takeaways

  • Today’s news of smashing sales targets puts BIO ahead of the curve in consumer defensive microcaps.

 

  • As of the end of FY22, sales were up by 78% from 2021.

 

  • Market Cap of approximately $12 million

 

  • Gross margin saw a plus 7% growth to 58% FY22.

Biome Australia has seen revenue growth continue to accelerate ­— driven by their Activated Probiotics range.

Biome Australia was founded in 2018 by Managing Director Blair Norfolk, who remarked on the news:

‘…we’re pleased to share this trading update. Reaching our $7 million target is a great achievement building on $4.12 million in FY22 and 2.23 in FY21

‘With our deep understanding of our products and distribution channels, we look forward to strong growth in FY24’

These sales were helped by a distribution agreement penned on 31 August 2022 with Australian Pharmaceutical Industries [ASX:API].

With this deal, BIO expanded its distribution to Priceline pharmacies — bringing its total distribution to approximately 3,000 points throughout Australia.

Biome Australia also holds distribution points within the UK and NZ, although those markets are relatively underdeveloped.

This deal lined up with Priceline’s inaugural ‘Health Masterclass’ education series on 20 June 2022.

This has helped drive an already growing interest by consumers for more scientifically backed gut health products.

Google searches for ‘microbiome’ rose by 267% between 2014 and 2019 worldwide.

The global probiotics market is projected to grow to US$69 billion at a CAGR of 7% through 2023.

ASX:BIO Biome Australia US Probiotics Market

Source: Grand View Research

Small-cap diamonds in the rough

What’s the secret to making money from small-cap stocks?

I believe it’s this — invest in already profitable companies that the market is currently undervaluing or simply ignoring…then sell when investors realise the opportunity and pile in.

We’ll show you how in our brand-new report.

We’ll tell you about three ASX small-cap stocks with a market capitalisation of less than $500 million…stocks that are turning steady profits and currently paying dividends.

One is a mining services company serving Australia’s booming mining sector…and growing its earnings by 29% annually in the process.

Another is a leading retailer in its niche that ended 2022 with an $18.5 million profit.

But despite their bright prospects, the market is currently undervaluing these stocks.

Will they soar once the market realises its mistake?

We can’t say for sure. Investing in small-caps is highly risky.

But given their proven business models and healthy balance sheets, I strongly believe they could.

This is why adding these stocks to your watchlist today could be a smart move.

Learn more about these three stocks in our new FREE report.

 

Regards,

Charlie Ormond,

For Money Morning

 

 

All advice is general advice and has not taken into account your personal circumstances.

Please seek independent financial advice regarding your own situation, or if in doubt about the suitability of an investment.

Charlie Ormond

With more than a decade of fintech experience, including stretches in critical roles at budding start-ups and tech titans like Microsoft, Charles is squarely focused on investment opportunities in emerging sectors. Interestingly, his academic foundation in zoology provides an unexpected edge! He applies his scientific training with his analytical mindset to figure out tomorrow’s winners and losers. While traditional institutions stick with ‘safe’ stocks, Charles goes straight for seismic shifts in crypto and AI. He’s an early adopter of both technologies.

Now he’s on a mission to empower everyday investors. He decodes groundbreaking developments in technology stocks before they grab mainstream attention. So, if you seek an unconventional perspective to help capitalise on what’s next in fintech, look no further.

Charlie’s Premium Subscriptions

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All advice is general in nature and has not taken into account your personal circumstances. Please seek independent financial advice regarding your own situation, or if in doubt about the suitability of an investment.

The value of any investment and the income derived from it can go down as well as up. Never invest more than you can afford to lose and keep in mind the ultimate risk is that you can lose whatever you’ve invested. While useful for detecting patterns, the past is not a guide to future performance. Some figures contained in our reports are forecasts and may not be a reliable indicator of future results. Any actual or potential gains in these reports may not include taxes, brokerage commissions, or associated fees.

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