REG - OptiBiotix Health - Final Results & Notice of AGM
28/05/2026 07:00
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RNS Number : 9539F OptiBiotix Health PLC 28 May 2026
OptiBiotix Health plc
("OptiBiotix" or the "Company" or the "Group")
Final results and
Notice of Annual General Meeting
OptiBiotix Health plc (AIM: OPTI), a life sciences business developing
products which reduce hunger and food cravings, enhance the gut microbiome,
and sweet fibres as healthy sugar substitute announces its audited results for
the 12 months ended 31 December 2025.
Highlights
· Revenues up 34% to £1.17m (2024: £870k) with £212k of orders
received in 2025 not included and carried forward for delivery in 2026
· Gross profit up 85% to £614k (2024: £331k)
· Gross profit margin increased to 53% (2024: 38%)
· Operating costs (including selling, R&D and patent costs but
excluding non-cash share based payments) are slightly up at just under £2.7m
(2024: £2.6m)
· Cash balance of £1.04m (2024: £739k)
· Holdings in ProBiotix Health Plc ("PBX") and SkinBioTherapeutics Plc
("SBTX") with an aggregate market value of £6.45m as of 31 December 2025.
· Launch of SlimBiome® in Hydroxycut, which markets itself as the No.
1 selling weight loss supplement brand in the United States of America ("USA")
· Signing of a distribution agreement with a well-known direct selling
weight management company with a first order received in H2 2025 with product
launch scheduled for H1 2026
· Growing list of new customers in Asia with 17 products launched and
74 customer projects at various stages of development across six different
countries.
· Territories outside the UK now represent 73% of revenue (2024:63%)
with Asia increasing by 182% to £268k from £95k in 2024
· Introduction of an optimised enzyme-based production process for
SweetBiotix that delivers much higher yields, a purer and better-tasting
product, and reduces ingredient and production costs
· The Company ended 2025 with a balance sheet of £6.8m (2024: £9.0m),
a strong cash position of £1.04m (2024: £739K), no debt and a growing
pipeline of new customers
Post period end
· Twenty-four metric tonnes (24mt) SlimBiome order from Meelung Trading,
Taiwan to be delivered at approximately three-month intervals throughout 2026
with payment already received for the first 12mt.
· Record start to 2026 with over £800k of orders received in January
2026 for delivery during 2026 calendar year, including carried forward orders
outlined above (announced 21 January 2026). This excludes ecommerce and
subsequent orders.
· Commencement of a clinical study by Hull University Teaching Hospital
to determine the effect of six week pre-operative consumption of WellBiome on
time spent in intensive care and potential cost savings for the National
Health Service (announced 24 February 2026).
· Disposals of 8,900,000 SBTX shares for cash consideration of
approximately £787k. The Company disposed of 1,400,000 SBTX shares in March
2026 for cash consideration of approximately £112k and made a further
disposal of 7,500,000 SBTX shares in April 2026 for cash consideration of
approximately £675k.
· A shift from investing in building a broad business with multiple
channels and territories to focus on high growth areas and commercial
sustainability
ü Significant reduction in marketing and selling costs in 2026 with
planned reductions in R&D and IP costs anticipated to save £500k-600k per
year
ü Margin improvement in cost of goods which should reduce the cost of
producing SlimBiome by 31% in Q2 2026 orders with further changes anticipated
to lead to a final cost reduction of 48%. The Board expects this should
improve gross margin and gross profit
ü The development of profit and loss accounts for each part of its
business (OptiBiotix Health USA, OptiBiotix Health India, Ecommerce and B2B)
with each business unit tasked with covering their costs by end of 2026.
This will help determine future spending and cost savings
Notice of AGM
The Annual Report and Financial Statements, which will be available on the
Company website and sent to shareholders who have requested it, contains a
Notice of Annual General Meeting ("AGM") which will be held at 2pm on 23 June
2026 at the offices of Marex at 155 Bishopsgate, London, EC2M 3TQ.
Due to building security requirements shareholders wishing to attend the AGM
in person should notify Optibiotix on info@optibiotix.com
(mailto:info@optibiotix.com) by 19(th) June to facilitate ease of access.
Stephen O'Hara, CEO of OptiBiotix Health plc said: "The Company has made good
progress in 2025 with growing sales, higher margins, increased gross profit
and valuable assets in its holdings in PBX and SBTX with a combined market
value of circa £6.45m at the end of December 2025. The Company's investments
in its IP portfolio, health claims for products in major markets,
international manufacturing and distribution base, and ecommerce customer base
is now complete. The Company is now focused on achieving commercial
sustainability by accelerating its activities to reduce costs and improve
margins whilst continuing to grow its top line in those areas showing high
growth and commercialising its second-generation products. Recent progress on
SweetBiotix (announced 24(th) November 2025), has continued into 2026
providing us with a cleaner, purer, better tasting product, and a clearer
commercial route to market than previously achieved. The Company will be
demonstrating its SweetBiotix products to shareholders in June 2026, further
details on venue and timing to follow".
This announcement contains information which, prior to its disclosure, was
considered inside information for the purposes of the UK Market Abuse
Regulation and the Directors of the Company are responsible for the release of
this announcement.
Engage with the OptiBiotix management team directly by asking questions,
watching video summaries and seeing what other shareholders have to say by
subscribing to the new website to get regular
updates: https://optibiotix.com/auth/signup
(https://optibiotix.com/auth/signup)
View the full announcement and submit questions to management via our
website: https://optibiotix.com/link/ejnRle
(https://gbr01.safelinks.protection.outlook.com/?url=https%3A%2F%2Foptibiotix.com%2Flink%2FejnRle&data=05%7C02%7Cspohara%40optibiotix.com%7C142e2b8609e94502ad4108debb15efef%7Cfd9d39470fcc410da8d30ce1bec67dce%7C1%7C0%7C639153900065330979%7CUnknown%7CTWFpbGZsb3d8eyJFbXB0eU1hcGkiOnRydWUsIlYiOiIwLjAuMDAwMCIsIlAiOiJXaW4zMiIsIkFOIjoiTWFpbCIsIldUIjoyfQ%3D%3D%7C0%7C%7C%7C&sdata=Ih5%2Fh7xtq8mDhDg1KBQ6IQJbj07v5AJUbJkJaS2jPAM%3D&reserved=0)
For further information, please contact: OptiBiotix Health plc www.optibiotix.com (http://www.optibiotix.com/)
Neil Davidson, Chairman
Stephen O'Hara, Chief Executive
Cairn Financial Advisers LLP (NOMAD and Broker) Tel: 020 7213 0880
Liam Murray / Ludovico Lazzaretti / James Western
About OptiBiotix - www.optibiotix.com (http://www.optibiotix.com/)
OptiBiotix Health plc (AIM: OPTI, OTCQB: OPTBF), OptiBiotix Health has
developed a range of technologies and commercialised products which modulate
the human microbiome to help prevent and manage human disease. Since the
Group's inception it has created a wide range of microbiome-based ingredients
and products including prebiotic products like SlimBiome®, WellBiome®,
SweetBiotix® and Microbiome Modulators within its core OptiBiotix Health plc
(OPTI) business, but also skincare through its holdings in SkinBioTherapeutics
PLC (SBTX), and probiotics through ProBiotix Health plc (PBX). These companies
create a diverse portfolio technologies and products in an emerging area of
healthcare that is of growing interest in consumer markets throughout the
world.
Forward-Looking Statements
Certain statements made in this announcement are forward-looking statements.
These forward-looking statements are not historical facts but rather are based
on the Company's current expectations, estimates, and projections about its
industry; its beliefs; and assumptions. Words such as 'anticipates,'
'expects,' 'intends,' 'plans,' 'believes,' 'seeks,' 'estimates,' and similar
expressions are intended to identify forward-looking statements. These
statements are not guarantees of future performance and are subject to known
and unknown risks, uncertainties, and other factors, some of which are beyond
the Company's control, are difficult to predict, and could cause actual
results to differ materially from those expressed or forecasted in the
forward-looking statements. The Company cautions security holders and
prospective security holders not to place undue reliance on these
forward-looking statements, which reflect the view of the Company only as of
the date of this announcement. The forward-looking statements made in this
announcement relate only to events as of the date on which the statements are
made. The Company will not undertake any obligation to release publicly any
revisions or updates to these forward-looking statements to reflect events,
circumstances, or unanticipated events occurring after the date of this
announcement except as required by law or by any appropriate regulatory
authority.
Chairman's report
OptiBiotix has successfully invested to develop a broad intellectual property
portfolio, undertaken clinical studies that have allowed it to gain regulatory
approval for on-pack health claims, and developed robust manufacturing bases
and distributor networks in major markets worldwide. It retains valuable
assets in its second-generation products, including SweetBiotix®, and its
equity stakes in the other microbiome companies it has created. The Group is
now concentrated on achieving profitability in all business units by focusing
on markets and products with the strongest growth potential: driving sales,
raising margins and cutting costs.
Strategy and business development
From its inception, the business has sought to put the interests of
shareholders first, by maximising opportunities and reducing risk through the
creation of a broad spread of assets in high-growth markets, which has reduced
shareholder dilution. We have delivered substantial value through the spin-off
of two separately quoted microbiome businesses, SkinBioTherapeutics plc
("SBTX") and ProBiotix Health plc ("PBX"), with an aggregate market value of
£6.45m at year-end (2024: £9.23m).
Our proven first-generation products SlimBiome® and WellBiome® address the
fast-growing weight control and gut health markets with the support of proven
health claims, and we are building global sales with a growing number of
larger partners and an increasing online presence.
At the same time, we are progressing discussions with a number of major
partners to bring our second-generation products to market, with SweetBiotix®
reaching a key competitive milestone through the development of a new
production process that repositions it as a potential partner rather than a
competitor to sugar producers.
We have taken robust action to reduce board, staff, R&D, IP, broking and
PR costs, and secured admission of the Company's shares to the OTCQB Venture
Market to increase our visibility to the US investment community.
Results
The strong sales momentum established in 2024 continued throughout 2025, with
revenues increasing by 34% to £1.17m (2024: £870k). Over two years, sales
have increased by more than 81%, from £644k in 2023.
Gross profit increased by 85% to £614k (2024: £331k).
We continue to have a strong balance sheet, with gross assets at the year-end
of £6.9m (2024: £9.0m) and cash of £1.04m (2024: £739k).
The Board
David Blain joined the Board as Finance Director and Company Secretary on 7
January 2025, bringing us the benefit of his extensive financial, commercial
and board experience with a range of private and public companies including
Iksuda Therapeutics Ltd, Applied Graphene Materials plc, Nanoco Group plc and
Inspired Capital plc. Under his leadership, we have achieved a significant
enhancement of divisional P&L accounting and improved the control of costs
throughout the Group, with the aim of moving each division and ultimately the
Group to profitability.
Outlook
We made a very strong start to the new financial year, with record orders of
more than £800k from four major partners recorded in the first four weeks of
2026 to be delivered at approximate quarterly intervals throughout 2026. With
tighter cost control delivering improved margins across the Group, and an
important breakthrough achieved as we move towards the commercialisation of
SweetBiotix®, we believe that we are on course to achieve our objective of
moving all parts of the business towards profitability and delivering
increased shareholder value.
N Davidson CBE
Chairman
27 May 2026
Chief Executive Officer's report
In the last few years we have concentrated our activities and investment in
building a broad-based business selling clinically proven, effective products
in fast-growing markets across multiple territories worldwide. This investment
is largely complete. Our focus is now on leveraging this international
distribution, manufacturing, and customer base to drive growth in those
products and territories that can deliver the highest returns, while
progressing commercialisation of our exciting second-generation products, to
achieve sustainable Group profitability.
Strategic overview
OptiBiotix Health PLC (AIM: OPTI, OTCQB: OPTBF) ("OptiBiotix", "OPTI" or the
"Company" and together with its subsidiaries the "Group") is a life sciences
business focused on the development of products which reduce hunger and food
cravings, enhance the gut microbiome, and provide a healthy substitute for
sugar.
We believe that the Group has now reached a strategic inflection point, having
developed a unique range of first-generation products with good customer
reviews, carried out clinical studies to gain approval for on-pack health
claims, built a strong IP portfolio, and developed manufacturing and
distributor networks in major territories in the world. We also believe we
have a very valuable asset in our IP portfolio for future commercialisation,
particularly in our second-generation products including SweetBiotix®.
In parallel, we have invested in and developed a range of other microbiome
assets, delivering substantial value for our shareholders by spinning these
out into free-standing PLCs, SkinBioTherapeutics ("SBTX") and ProBiotix Health
("PBX"). To date OPTI has raised a total of £10.4m in funds, delivered a
£10.25m dividend in specie through the issue of PBX shares, and raised
£7.81m through the sale of SBTX shares. This includes approximately £112k
from a disposal of SBTX shares in March 2026 and £675k in April 2026 when
a material change in SBTX's position occurred with the announcement of a
suspension of shares due to the ongoing investigation into the conduct of the
former CEO of SBTX by FRP Advisory which meant that SBTX could not issue its
interim results by 31 March 2026 as required by the AIM rules. OPTI retains
valuable equity stakes in both SBTX and PBX with an aggregate market value of
£6.45m as of 31 December 2025, making a return of £23.72m on the £10.4m
raised since listing in August 2014. Recent trading updates for PBX report
profitability has been achieved in Q1 2026, demonstrating potential for
further upside. These assets provide opportunities to realise value through
the sale of shares or the potential of an ad hoc dividend return to
shareholders.
Having invested in building a broad product portfolio and other valuable
microbiome assets in its holdings in PBX and SBTX, the Group is now focused on
growing sales in its first-generation products and commercialising second
generation products to attain commercial sustainability.
Product Portfolio and Asset Value Creation
OptiBiotix has followed a dual‑track strategy, developing:
· First-generation products (SlimBiome®, WellBiome®) to create
early revenues and establish a position in the market; and
· Second‑generation solutions (SweetBiotix®, Microbiome Modulators)
to create long‑term, high‑value differentiators.
SlimBiome® is our flagship weight loss product, clinically proven through
four human studies to keep users feeling fuller for longer, and to reduce
craving for both sweet and savoury snacks. This helps users reduce calorie
intake and manage their weight sustainably while also promoting gut health and
diversity. Containing only natural ingredients, it has none of the potential
side-effects associated with injectable GLP-1 agonists like Semaglutide,
marketed as Ozempic and Wegovy.
Recent changes in the weight management market, with the rapid growth in
demand for injectable GLP-1 agonists, have presented both a competitive threat
to SlimBiome and a significant opportunity for growth. This has led us to
change our focus to promoting SlimBiome® as both a safe and lower cost
natural alternative to GLP-1s, and increasingly as an aid to preventing weight
gain when consumers stop injecting the drugs. There is good evidence that a
rebound in weight is the rule rather than the exception when users come off
GLP-1s, with the vast majority of users regaining two thirds of their lost
weight within one year. Studies also show that 58% of patients stop GLP-1
treatment within the first three months due to cost, side effects or other
issues Study Shows 58% Of Patients Discontinue Use Of Obesity Medications
(https://www.forbes.com/sites/joshuacohen/2024/06/20/study-shows-58-of-patients-discontinue-use-of-obesity-meds-before-reaching-meaningful-weight-loss/)
(Forbes, June 2024). Our product range is ideally placed to support these
people in their efforts to achieve a sustained weight reduction. The global
market for alternatives to GLP-1 agonists was estimated to be worth $1.2bn in
2024 and forecast to grow at a compound annual growth rate of 16.7% to
quadruple in value to $4.8bn by 2033 GLP-1 Support Supplements Market Research
Report 2033
(https://gbr01.safelinks.protection.outlook.com/?url=https%3A%2F%2Fmarketintelo.com%2Freport%2Fglp-1-support-supplements-market%23%3A~%3Atext%3DAs%2520per%2520our%2520latest%2520market%2520intelligence%252C%2520the%2Cgrowing%2520at%2520a%2520robust%2520CAGR%2520of%252016.7%2525.&data=05%7C02%7Cspohara%40optibiotix.com%7C33014c4d0f944115ff2408de25d3ffeb%7Cfd9d39470fcc410da8d30ce1bec67dce%7C1%7C0%7C638989789826627627%7CUnknown%7CTWFpbGZsb3d8eyJFbXB0eU1hcGkiOnRydWUsIlYiOiIwLjAuMDAwMCIsIlAiOiJXaW4zMiIsIkFOIjoiTWFpbCIsIldUIjoyfQ%3D%3D%7C0%7C%7C%7C&sdata=eouhX5iTKBNitdaoLJXJv7qI%2FvmVTC40kQJoXoXMxXI%3D&reserved=0)
.
WellBiome® is a patented, mineral-enriched multi prebiotic fibre complex
developed in collaboration with leading UK universities and formulated to
enhance gut microbiome diversity to support overall wellbeing. On-pack health
claims authorised in Europe, and the USA include: WellBiome® nourishes
beneficial bacteria to improve gut health; contributes to improved bone health
by aiding the absorption of essential minerals; contributes to normal muscle
function; supports normal brain function and memory; supports cardiovascular
health; and contributes to a reduction of tiredness and fatigue.
The Group announced in February 2026 the beginning of an clinical study being
carried out by Hull University Teaching Hospital to determine the effect of
taking WellBiome® on cardiac surgery outcomes. The study follows an approach
to OptiBiotix by the National Health Service (" NHS") to carry out a double
blind, placebo-controlled trial that will evaluate the impact of six week
pre-operative consumption of the supplement on time spent in intensive care,
the overall length of hospital stay, the incidence of post-operative
complications, and the potential cost savings for the NHS. This is an NHS
led study which if successful it could lead to WellBiome® becoming the
standard of care for NHS patients undergoing surgery.
Interest in gut health is a growing trend around the world, with more than 80%
of consumers in the UK, USA and China considering it to be important, and over
50% anticipating that they will make it a higher priority over the next two to
three years (The top wellness trends in 2024 | McKinsey
(https://www.mckinsey.com/industries/consumer-packaged-goods/our-insights/the-trends-defining-the-1-point-8-trillion-dollar-global-wellness-market-in-2024)
).
SweetBiotix® are a portfolio of natural, sweet, high-fibre, low-calorie
products developed to replace both sugar and sugar substitutes. They are
trademarked and protected by a substantial and valuable IP portfolio
comprising more than 25 patents. The products have been tested by academic
groups who have published five papers in peer-reviewed journals providing an
independent assessment of SweetBiotix's taste and health benefits. The Group
has provided SweetBiotix® samples under Material Transfer Agreements (MTA) to
a number of partners who have specialist expertise in sugar substitutes and
are supporting SweetBiotix® development with a view to the use of
SweetBiotix® in their products. Milestone payments from commercial agreements
with partners have delivered over £750k of income to OptiBiotix over the last
few years.
As announced in November 2025, a key competitive milestone was reached last
year with the introduction of a new enzyme that delivers much higher yields, a
purer and better-tasting product, and reduces ingredient and production costs.
Significantly, this new enzyme produces SweetBiotix® from sucrose (sugar), an
unhealthy commoditised ingredient with a rapidly contracting customer base and
converts this into a healthy and higher value prebiotic fibre. This
repositions SweetBiotix® in the eyes of sugar producers from a competitor
into a potential value-enhancing partner and gives us increasing confidence in
the commercial potential of SweetBiotix® as we continue to work with DSM
Firmenich and other partners on product development.
Microbiome Modulators
There is increasing recognition of the role of the microbiome in health and
disease. With this comes the potential to develop strategies to change the
microbial composition of the microbiome as a dietary or treatment option to
improve health outcomes, prevent chronic diseases, and/or improve the efficacy
or reduce the toxicity of drug treatments. Microbiome Modulators have been
developed to meet this need.
This technology is applicable to a wide range of microbial species with
short-term opportunities with nutraceutical company partners who wish to
improve the performance of their existing probiotics or more long-term,
pharmaceutical companies interested in improving drug therapies. This has
created interest from a spectrum of potential partners with a view to
licensing the technology, co-development of specific products for partners, or
the production and sale of an ingredient to boost the performance of products
containing Lactobacilli species.
The pathway to financial sustainability
Having built its scientific, clinical, manufacturing, distribution and
e-commerce customer base the Group's focus is now on increasing sales,
improving margins, and reducing costs to develop a sustainable business, and
launching its second-generation products by:
Growing sales. Considerable progress has already been made in increasing
sales, particularly of high margin product lines, with a record start to 2026.
As announced on 21 January 2026, the Group has received over £800k in orders
for delivery throughout the 2026 calendar year. This excludes e-commerce sales
and subsequent orders received post January 2026. We are also successfully
increasing our e-commerce basket size by broadening our product range through
the launch of more snack bar flavours.
Improving margins. The Group increased its gross profit from 38% in 2024 to
53% in 2025, which has impacted positively on gross profit which has increased
by 85% to £614k (2024: £331k). This improvement is expected to continue, as
the significant increase in SlimBiome orders for 2026, noted above, has
enabled the Group to negotiate volume discounts on its core ingredients which
is expected to reduce the cost of producing SlimBiome® by 31% on H2 2026
orders, with further reductions anticipated later in the year that will
potentially lead to a cost reduction of up to 48%. The Group is now supplying
parts of Asia from India which has a much lower cost of production and
exploring the potential for India to supply other parts of the world. These
changes will improve margins on both the sale of SlimBiome® and final
products and should have a positive impact on the Group's overall margins in
H2 2026.
Reducing costs. We are working to a plan that has led to a reduction in
marketing and selling costs during January and February 2026 of 78% which,
with planned reductions in R&D and IP costs, are anticipated to save
£500k-600k per year. Research expenditure has been reduced with development
focused on the scale-up of SweetBiotix®.
Under the leadership of our new CFO David Blain, who joined the Board in
January 2025, the Group has developed separate profit and loss accounts for
each part of its business (OptiBiotix Health USA, OptiBiotix Health India,
Ecommerce and B2B) with each business unit tasked with covering its direct
costs by the end of 2026. Future spending will be focused on those business
units and products with the highest return or most growth potential. This
may mean we reduce spending in some markets to focus spend on high growth
markets and products.
Consumer Health and E-commerce
We have invested heavily in e-commerce over the last two years to build brand
awareness, a large customer base, and monthly subscriptions leading to this
part of the business now delivering approximately 30% of total revenue.
E-commerce gives us immediate revenue, direct and unfiltered customer feedback
on our products, and acts as a shop window for partners looking to launch
similar products. In 2025 the majority of sales were organic (i.e. not linked
to advertising) meaning we now have a stable and predictable income without
the need for high advertising spend. This has allowed us to reduce our selling
costs by 78% on Amazon with no impact on revenues creating an Amazon
accounttrading surplus. Our own direct-to-consumer online sales
(www.optibiotix.online (http://www.optibiotix.online) ) has always been
profitable. The focus now is on growing our basket size by broadening the
product range and targeted campaigns on specific high margin products.
OptiBiotix Health USA
OptiBiotix Health USA has continued to build its presence within the world's
largest economy by solidifying its supply chain and strengthening client
marketing support, and through consumer product launches.
We established a US-based warehouse and logistics provider to facilitate the
import and distribution of OptiBiotix products, as the uncertainty caused by
changing US tariffs and customs regulations made it difficult to meet the
short lead times demanded by retailers and e-commerce platforms. As part of
this initiative, we have also identified several potential US-based production
partners and are assessing the economic and regulatory feasibility of
establishing a local supply chain.
We were pleased to announce the launch of 'Hydroxycut Hunger Control' in
August 2025. Hydroxycut is the leading US weight loss supplement brand and the
Hunger Control product is available both through e-commerce platforms and in
retail at Walmart and two new partners, Daily Nouri launching 'Feel Full' and
Natural Health Trends Corporation (NHT) launching a slimming soup.
The weight management market is highly competitive with high customer churn in
the USA and it is essential we build a broader customer base in this large
market. We received a large number of new business enquiries following our
participation in Supplyside Global, the pre-eminent gathering for sports
nutrition and supplement brands in North America, and hope to announce further
US partners as the year progresses.
OptiBiotix Health India and Asia
As the world's most populous nation, with 1.4bn consumers, a growing middle
class and obesity prevalence of 40%, India presents a huge area of opportunity
for weight management products. Our strategic investment in establishing
OptiBiotix Health India in 2021 has given us a strong platform for growth
through the local manufacture and sale of both ingredients and final products.
The lower cost base of manufacturing in India also gives us the opportunity to
improve margins by exporting SlimBiome to customers in Asia and Australasia,
and potentially North America.
Our partnership with Morepen continues to develop although challenged by the
patent expiry of Semaglutide in March 2026 which has reduced the cost of drug
treatment with generics costing around $15 per week. We are working with
partners to ensure positioning of SlimBiome® as a healthier alternative and
as an aid to preventing weight gain when consumers stop taking these drugs.
During the year we continued to enjoy strong growth with new and existing
partners across a wide range of Asian territories, with 74 customer projects
at various stages of development and 17 new products launched across six
different countries. Based on current orders we expect Asia to be the fastest
growing part of the business in 2026 contributing an additional circa £600k
more in revenue than 2025.
Results
Our order book and delivered sales both grew strongly throughout the year,
with total revenues increasing by 34% to £1.17m (2024: £870k) and orders
growing by 34% to £1.38m (2024: £1.0m), including £212k of orders carried
forward for delivery in 2026.
Gross profit increased by 85% to £614k (2024: £331k), with the gross margin
improving from 38% to 53%.
Operating costs (including selling, R&D and patent costs but excluding
non-cash share-based payments) remained stable at just under £2.7m (2024:
£2.6m).
The Company has holdings in ProBiotix Health Plc and SkinBioTherapeutics Plc
with an aggregate market value of £6.45m as of 31 December 2025. Balance
sheet shows gross assets of £6.9m (2024: £9.0m), no debt and net cash at the
year-end of £1.04m (2024: £0.74m).
Post period, the Group reported a record start to 2026 with over £800k of
orders received by 21 January 2026 for delivery during 2026, including carried
forward orders outlined above. This excludes ecommerce and subsequent orders.
Outlook
Our strategic focus is now firmly on growing sales, improving margins and
reducing costs to build a sustainable business, and launching our exciting
second-generation products. Record orders in the opening months of 2026
underline the strength of our position with major partners in fast-growing
markets for our first-generation weight reduction and gut health products. At
the same time, we are building a commercial roadmap to exploit the potential
of SweetBiotix® as a healthy, high-fibre sugar substitute across multiple
territories, working with partners on the development of applications and
exploring opportunities for licensing.
In a volatile global environment, with conflicts around the world potentially
impacting on supply chains, increasing lead times and the cost of goods, and
affecting investors' appetite for risk, we have the advantage of a broadly
based product offering across multiple international markets. We also have
valuable holdings in PBX and SBTX, reducing the need for OPTI to come to
public markets to raise funds. We note the recent high level of M&A
activity in the weight management supplement market with Huel acquired by
Danone in March 2026 for £864m, Supreme acquiring Slimfast from Glanbia for
£20m in October 2025, as recent examples. Acquirers are prioritizing brands
with high-quality differentiated ingredients, strong intellectual property
(IP), and scientific backing. This activity is a risk with a number of
existing partners undergoing restructuring to optimise valuations, but an
opportunity given SlimBiome® is supported by strong IP, clinical studies, and
has proven sales in multiple international territories.
We recognise that the business remains dependent on a small number of key
accounts in both India and the USA and are working to reduce our risks from
partner churn or market disruption by developing relationships with new retail
and e-commerce partners in these key territories.
We underlined our commitment to engagement with our stakeholders through the
launch in January 2026 of a new investor website, which brings all the Group's
corporate, commercial and scientific research announcements together on a
single platform and importantly allows current and prospective shareholders to
engage directly with management through an interactive portal. This new
Investor Hub allows us to discuss commercial and development progress in more
depth and with a fuller context than is possible through RNS announcements
alone, while remaining fully compliant with our market disclosure obligations.
Investors wishing to sign up for the portal can do so by visiting
www.optibiotix.com (http://www.optibiotix.com) and following the prompts on
the top right-hand side of the website marked SIGN UP.
With a record sales order book, improving margins, significant cost reductions
underway, and growing commercial promise in second generation products, the
Board are confident that OptiBiotix has the potential to deliver substantial
growth in shareholder value in the years ahead.
S O'Hara
Chief Executive
27 May 2026
Consolidated Statement of Comprehensive Income
Notes Year ended Year ended
31 December 31 December
2025 2024
£'000 £'000
Revenue from contracts with customers 3 1,166 870
Cost of sales (552) (539)
─────── ───────
Gross profit 614 331
Selling Costs 536 651
R&D and patent costs 320 294
Share based payments 1,061 47
Other operating costs 1,829 1,605
Total administrative expenses (3,746) (2,597)
─────── ───────
Operating loss 6 (3,132) (2,266)
Finance income 5 - 1
─────── ───────
- 1
Share of loss from associate 11 (417) (350)
Gain/(loss) on investments 11 (402) 486
Profit on disposal of investments 8 263
─────── ───────
Profit/(Loss) before tax (3,943) (1,866)
Taxation 7 53 61
─────── ───────
Total comprehensive income for the period (3,890) (1,805)
═══════ ═══════
Total comprehensive income attributable to:
Owners of the company (3,890) (1,805)
─────── ───────
Earnings per share from continued operations
Basic loss per share 8 (3.84)p (1.84)p
═══════ ═══════
Consolidated Statement of Financial Position
Notes As at As at As at As at
31 December 31 December 2024 31 December 2025 31 December 2024
2025 Group Company Company
Group
ASSETS £'000 £'000 £'000 £'000
Non-current assets
Intangibles 9 912 1,117 - -
Investments 11 2,300 4,049 4,271 6,020
Investment in associate 11 2,039 2,456 3,212 3,212
─────── ─────── ─────── ───────
5,251 7,622 7,483 9,232
─────── ─────── ─────── ───────
CURRENT ASSETS
Inventories 12 299 230 - -
Trade and other receivables 13 284 433 17 17
Current tax asset 7 21 21 - -
Cash and cash equivalents 14 1,037 739 590 577
─────── ─────── ─────── ───────
1,641 1,423 607 594
─────── ─────── ─────── ───────
TOTAL ASSETS 6,892 9,045 8,090 9,826
═══════ ═══════ ═══════ ═══════
EQUITY
Shareholders' Equity
Called up share capital 15 2,066 1,959 2,066 1,959
Share premium 15 4,713 4,107 4,713 4,107
Share based payment reserve 21 745 247 745 247
Warrant reserve 21 563 - 563 -
Merger relief reserve 16 1,500 1,500 1,500 1,500
Retained Earnings 16 (3,305) 585 (1,618) 1,933
─────── ─────── ─────── ───────
Total Equity 6,282 8,398 7,969 9,746
─────── ─────── ─────── ───────
LIABILITIES
Current liabilities
Trade and other payables 17 384 368 121 80
─────── ─────── ─────── ───────
384 368 121 80
─────── ─────── ─────── ───────
Non - current liabilities
Deferred tax liability 18 226 279 - -
─────── ─────── ─────── ───────
226 279 - -
─────── ─────── ─────── ───────
TOTAL LIABILITIES 610 647 121 80
─────── ─────── ─────── ───────
TOTAL EQUITY AND LIABILITIES 6,892 9,045 8,090 9,826
═══════ ═══════ ═══════ ═══════
Consolidated Statement of Changes in Equity
Warrant Reserve
Called up Share-based Merger Relief Reserve
Share capital Retained Earnings Share Payment reserve Total
Premium equity
£'000 £'000 £'000 £'000 £'000 £'000 £'000
Balance at 31 December 2023 1,824 1,818 2,958 772 - 1,500 8,872
Loss for the year - (1,805) - - - - (1,805)
Movement on reserves - 572 - (572) - - -
Share Options and warrants - - - 47 - - 47
Issue of shares during the year 135 - 1,215 - - - 1,350
Fundraising commission - - (66) - - - (66)
───── ────── ───── ───── ───── ───── ──────
Balance at 31 December 2024 1,959 585 4,107 247 - 1,500 8,398
Loss for the year - (3,890) - - - - (3,890)
Movement on reserves - - - - - - -
Share Options and warrants - - - 498 563 - 1,061
Issue of shares during the year 107 - 643 - - - 750
Fundraising commission - - (37) - - - (37)
───── ────── ───── ───── ───── ───── ──────
Balance at 31 December 2025 2,066 (3,305) 4,713 745 563 1,500 6,282
═════ ══════ ═════ ═════ ═════ ═════ ══════
Consolidated Statement of Cashflows
Year ended Year ended Year ended
31 December 2025 31 December 2025 Company 31 December 2024
Group Company
Notes Year ended
31 December 2024
Group
£'000 £'000 £'000 £'000
Operating activities
Operating loss (3,132) (2,266) (3,157) (862)
Amortisation 205 209 - -
Impairment of patents - 4 - -
Share based payments 1,061 47 1,061 47
Movement on inventory (69) (41) - -
(Increase)/decrease in receivables 149 31 - (136)
Increase/(decrease) in payables 16 184 41 (2)
Tax received - 64 - -
Release of loan to subsidiary - - 1,157 777
────── ────── ────── ──────
Net cashflow from operating activities (1,770) (1,768) (898) (176)
────── ────── ────── ──────
Investing activities
Net cash advances to subsidiary - - (1,157) (1,554)
Proceeds on disposal of investments 1,355 587 1,355 587
────── ────── ────── ──────
Net cash flow from investing activities 1,355 587 198 (967)
────── ────── ────── ──────
Financing activities
Net proceeds of Share issues 750 1,285 750 1,285
Cost of fundraise (37) - (37) -
Interest income - - - 1
────── ────── ────── ──────
Net cash inflow from financing activities 713 1,285 713 1,286
────── ────── ────── ──────
Total movement 298 104 13 143
Cash and cash equivalents at start of period 739 635 577 434
────── ────── ────── ──────
Cash and cash equivalents at end of period 1 1,037 739 590 577
══════ ══════ ══════ ══════
1. Cash and Cash Equivalents
As at As at As at As at
31 December 31 December 31 December 2025 31 December 2024
2025 2024 Company Company
Group Group
£'000 £'000
Cash and cash equivalents 1,037 739 590 577
══════ ═══════ ══════ ═══════
1. General Information
OptiBiotix Health plc is a Public Limited Company limited by shares,
incorporated and domiciled in England and Wales. Details of the registered
office, the officers and advisers to the Company are presented on the company
information page at the start of this report. The Company's offices are at
Innovation Centre, Innovation Way, Heslington, York, YO10 5DG. The Company is
listed on the AIM market of the London Stock Exchange (ticker: OPTI) and its
shares are cross-traded on the OTC market in USA (ticker: OPBF).
The principal activity is that of identifying and developing microbial
strains, compounds, and formulations for use in food ingredients, supplements
and active compounds that can impact on human physiology, deriving potential
health benefits.
The figures for the years ended 31 December 2025 and 2024 do not constitute
statutory accounts within the meaning of Section 435 of the Companies Act
2006. The figures for the year ended 31 December 2025 have been extracted from
the statutory accounts for that year, on which the auditor has issued an
unqualified audit report which have yet to be delivered to the Registrar of
Companies. The figures for the year ended 31 December 2024 have been extracted
from the statutory accounts for that year which have been delivered to the
Registrar of Companies and on which the auditor has issued an unqualified
audit report. No statement has been made by the auditor under Section 498(2)
or (3) of the Companies Act 2006 in respect of either of these sets of
accounts.
This announcement was approved by the board of directors on 27 May 2026 and
authorised for issue on 28 May 2026.
The consolidated financial statements have been prepared in accordance with UK
adopted international accounting standards and the Companies Act 2006
applicable to companies reporting under UK adopted international accounting
standards. The information in this preliminary statement has been extracted
from the audited financial statements for the year ended 31 December 2025 and
as such, does not contain all the information required to be disclosed in the
financial statements prepared in accordance with UK adopted international
accounting standards and the Companies Act 2006 applicable to companies
reporting under UK adopted international accounting standards.
2. Accounting Policies
Statement of compliance
The consolidated and parent company financial statements of Optibiotix Health
Plc have been prepared in accordance with UK adopted international accounting
standards and the Companies Act 2006 applicable to companies reporting under
UK adopted international accounting standards.
Basis of preparation
The financial statements have been prepared under the historical cost
convention. The functional currency is GBP.
The principal accounting policies are summarised below. They have all been
applied consistently throughout the period under review. The results are
rounded to the nearest thousand.
Going concern
The financial statements have been prepared on the assumption that the Group
is a going concern. When assessing the foreseeable future, the Directors have
reviewed the cash at bank available at the date of this report and the
cashflow forecast for the next 12 months from the date of this report and are
satisfied that the Group should be able meet its liabilities as they fall due.
Results to date in 2026 indicate that revenue is likely to come through as
anticipated for the year. On 27 April 2026 the Company sold 7.5m shares
generating net proceeds of £673,000. In the unlikely event that there is a
decline in revenue during the remainder of the year there are a number of
mitigating actions that could be taken by the Board to ensure that the Group
and Company continue as a going concern. To clarify, these mitigation
actions, which include effective cost management and disposal of listed
investments, are considered as part of worst-case downside scenario
assessments by the Board noting no issues with regards to the going concern
assessment hence the Directors believe that the Group and the Company are a
going concern.
After assessing the possible downside scenarios, the Directors have
a reasonable expectation that the Group and the Company have adequate
resources to continue in operational existence for the foreseeable future.
Accordingly, they continue to adopt a going concern basis in preparing the
annual report and financial statements.
Standards, amendments and interpretations effective and adopted in 2025
The accounting policies adopted are consistent with those of the previous
financial year.
The Group has not early adopted any standards, amendments, or interpretations
that were issued but not yet effective as of 31 December 2025. These include
the amendments to IAS 21, The Effects of Changes in Foreign Exchange Rates,
regarding lack of exchangeability, effective from 1 January 2025. Also issued
but not yet effective as at that date are IFRS 18 Presentation and Disclosure
in Financial Statements, IFRS 19 Subsidiaries without Public Accountability:
Disclosures, and various amendments to IFRS 9 and IFRS 7.
New standards and interpretations not yet adopted
The International Accounting Standards Board (IASB) has issued the following
standards, amendments and interpretations with an effective date after the
date of these consolidated financial statements. These are effective for
annual reporting periods beginning on or after the date indicated:
Standard/ amendment When Effective date (early application is possible unless otherwise noted) Standards/ Interpretations amended Standard withdrawn
issued
IFRS 18 April 2024 01 January 2027 IFRS 1, IFRS 3, IFRS 5, IFRS 6, IFRS 7, IFRS 8, IFRS 9, IFRS 12, IFRS 13, IFRS IAS 1
Presentation and 14, IFRS 15, IFRS 16, IFRS 17, IAS 2, IAS 7, IAS 8, IAS 10, IAS 12, IAS 16,
Disclosure in Financial IAS 19, IAS 20, IAS 21, IAS 24, IAS 28, IAS 29, IAS 32, IAS 33, IAS 34, IAS
Statements 38, IAS 40, IAS 41, IFRIC 1, IFRIC 14, IFRIC 17, IFRIC 19, IFRIC 23, SIC-32
IFRS 19 Subsidiaries without Public Accountability: Disclosures May 2024 01 January 2027 IFRS 1, IFRS 5, IFRS 13, IFRS 17, IFRS 18, IAS 32, IAS 34, IFRIC 14
Amendments to the Classification and Measurement of Financial Instruments May 2024 01 January 2026 IFRS 7, IFRS 9, IFRS 19
Amendments to IFRS 9 and IFRS 7
Annual Improvements July 2024 01 January 2026 IFRS 1, IFRS 7,
to IFRS Accounting
IFRS 9, IFRS 10,
Standards-Volume 11
IAS 7
Contracts referencing Nature-dependent Electricity Amendments to IFRS 9 and December 2024 01 January 2026 IFRS 7, IFRS 9
IFRS 7
The Group is assessing the impact of these new standards and the Group's
financial reporting will be presented in accordance with these standards from
the effective date.
There are no other standard interpretations that are not yet effective that
would be expected to have a material impact on the Group.
The Directors anticipate that the adoption of these standards and the
interpretations in future period will have no material impact on the financial
statements of the company.
2.1 Basis of consolidation
The consolidated financial statements incorporate the financial statements of
the Company and entities controlled by the Company (its subsidiaries) made up
to 31 December each year. The Group controls an investee when it is
exposed, or has rights, to variable returns from its involvement with the
investee and has the ability to affect those returns through its power over
the investee.
The results of subsidiaries acquired or disposed of during the year are
included in the consolidated statement of comprehensive income from the
effective date of acquisition or up to the effective date of disposal, as
appropriate.
Where necessary, adjustments are made to the financial statements of
subsidiaries to bring their accounting policies into line with those used by
other members of the Group.
All intra-group transactions, balances, income and expenses are eliminated on
consolidation.
Changes in the Group's ownership interests in subsidiaries that do not result
in the Group losing control over the subsidiaries are accounted for as equity
transactions. The carrying amounts of the Group's interests and the
non-controlling interests are adjusted to reflect the changes in their
relative interests in the subsidiaries. Any difference between the amount by
which the non-controlling interests are adjusted and the fair value of the
consideration paid or received is recognised directly in equity and attributed
to owners of the Company.
When the Group loses control of a subsidiary, the profit or loss on disposal
is calculated as the difference between (i) the aggregate of the fair value of
the consideration received and the fair value of any retained interest and
(ii) the previous carrying amount of the assets (including goodwill), and
liabilities of the subsidiary and any non-controlling interests. Where certain
assets of the subsidiary are measured at revalued amounts or fair values and
the related cumulative gain or loss has been recognised in other comprehensive
income and accumulated in equity, the amounts previously recognised in other
comprehensive income and accumulated in equity are accounted for as if the
Company had directly disposed of the related assets (i.e. reclassified to
profit or loss or transferred directly to retained earnings).
The fair value of any investment retained in the former subsidiary at the date
when control is lost is regarded as the fair value on initial recognition for
subsequent accounting under IFRS 9 "Financial Instruments: Recognition and
Measurement" or, when applicable, the cost on initial recognition of an
investment in an associate or a jointly controlled entity.
2.1 Revenue recognition
Revenue is measured at the fair value of sales of goods and services less
returns and sales taxes. The Group has analysed its business activities and
applied the five-step model prescribed by IFRS 15 to each material line of
business, as outlined below:
2.1.1 Sale of products
The contract to provide a product is established when the customer places a
purchase order. The performance obligation is to provide the product requested
by an agreed date, and the transaction price is the value of the product as
stated in our order acknowledgement. The performance obligation is typically
met when the product is dispatched and so revenue is primarily recognised for
each product when dispatching takes place.
2.1.2 License arrangements
Revenue is recognised when the customer obtains control of the rights to use
the IP. The performance obligations are considered to be distinct from any
ongoing distribution arrangements which are treated in line with sales of
products.
2.1.3 Milestone payments
Where the transaction price includes consideration that is contingent upon a
future event or circumstance, the contingent amount is allocated entirely to
that performance obligation if certain criteria are met. Revenue is recognised
at the point of time of the performance obligation being satisfied.
2.2 Investments in associates
Associates are those entities in which the Group has significant influence,
but not control or joint control over the financial and operating policies.
Significant influence is presumed to exist when the Group holds between 20 and
50 percent of the voting power of another entity. Investments in associates
are accounted for under the equity method and are recognised initially at
cost. The cost of the investment includes transaction costs.
The consolidated financial statements include the Group's share of profit or
loss and other comprehensive income of equity-accounted investees, after
adjustments to align the accounting policies with those of the Group, from the
date that significant influence commences until the date that significant
influence ceases.
When the Group's share of losses exceeds its interest in an equity-accounted
investee, the carrying amount of the investment, including any long-term
interests that form part thereof, is reduced to zero, and the recognition of
further losses is discontinued except to the extent that the Group has an
obligation or has made payments on behalf of the investee.
2.3 Investments at fair value
Equity investments are held at fair value at the balance sheet date with any
profit or loss for the year being taken to the Income statement. The value of
listed investments being calculated at the closing price on the balance sheet
date.
2.4 Employee Benefits
The Group operates a defined contribution pension scheme. Contributions
payable by the Group's pension scheme are charged to the income statement in
the period in which they relate.
2.5 Taxation
Income tax expense represents the sum of the tax currently payable
and deferred tax.
(i) Current tax
Current taxes are based on the results shown in the
financial statements and are calculated according to local tax rules using tax
rates enacted or substantially enacted by the statement of financial position
date.
Income tax is recognised in the income statement or in
equity if it relates to items that are recognised in the same or a different
period, directly in equity.
Current tax assets and liabilities for the current and
prior periods are measured at the amount expected to be recovered from or paid
to the taxation authorities.
(ii) Deferred tax
Deferred tax is provided, using the liability method,
on temporary differences at the statement of financial position date between
the tax base of assets and liabilities and their carrying amounts for
financial reporting purposes.
Deferred tax liabilities are recognised for all taxable temporary
differences.
Deferred tax assets are recognised for all deductible
temporary differences, carry forward of unused tax assets and unused tax
losses, to the extent that it is probable that taxable profit will be
available against which the deductible temporary differenced and the carrying
forward or unused tax assets and unused tax losses can be utilised.
The carrying amount of deferred tax assets is reviewed
at each balance sheet date and reduced to the extent that it is no longer
probable that sufficient taxable profit will be available to allow all or part
of the deferred tax assets to be utilised. Conversely, previously unrecognised
deferred tax assets are recognised to the extent that it is probable that
sufficient taxable profit that sufficient taxable profit will be available to
allow all or part of the deferred tax asset to be utilised.
Deferred tax assets and liabilities are measured at the
tax rates that are expected to apply to the year when the asset is realised or
the liability is settled, based on the tax rates and tax laws that have been
enacted or substantively enacted at the balance sheet date.
2.6 Financial instruments
Financial assets and financial liabilities are recognised when the
group becomes a party to the contractual provisions of the instrument.
2.7 Loans and receivables are initially measured at fair value and are
subsequently measured at amortised cost using the effective interest rate
method.
2.8 Equity investments comprise investments which do have a fixed maturity
and are classified as non current assets if they are intended to be held for
the medium to long term. They are measured at fair value through profit or
loss.
2.9 Trade receivables are initially measured at fair value and are
subsequently measured at amortised cost less appropriate provisions for credit
losses. Such provisions are recognised in the income statement.
2.10 Cash and cash equivalents comprise cash in hand and demand deposits and
other short-term highly liquid investments with maturities of three months or
less at inception that are readily convertible to a known amount of cash and
are subject to an insignificant risk of changes in value.
2.11 Trade payables are not interest-bearing and are initially valued at their
fair value and are subsequently measured at amortised cost.
2.12 Equity instruments are recorded at fair value, being the proceeds
received, net of direct issue costs.
2.13 Share Capital - Ordinary shares are classified as equity. Incremental
costs directly attributable to the issue of new shares or options are shown in
equity as a deduction, net of taxation, from the proceeds.
2.14 Financial instruments require classification of fair value as determined
by reference to the source of inputs used to derive the fair value. This
classification uses the following three-level hierarchy:
Level 1 - quoted prices (unadjusted) in active markets for identical assets or
liabilities;
Level 2 - inputs other than quoted prices included within level 1 that are
observable for the asset or liability, either directly (i.e., as prices) or
indirectly (i.e., derived from prices);
Level 3 - inputs for the asset or liability that are not based on observable
market data (unobservable inputs).
2.15 Inventory
Inventories are stated at the lower of cost and net realisable value. Cost is
determined using the first-in, first-out (FIFO) method. Net realisable value
is the estimated selling price in the ordinary course of business, less
applicable variable selling expenses.
2.16 Impairment of non-financial assets
At each statement of financial position date, the Group reviews the carrying
amounts of its investments to determine whether there is any indication that
those assets have suffered an impairment loss. If any such indication exists,
the recoverable amount of the asset is estimated in order to determine the
extent of the impairment loss (if any). Where the asset does not generate cash
flows that are independent from other assets, the group estimates the
recoverable amount of the cash-generating unit to which the asset belongs. An
intangible asset with an indefinite useful life is tested for impairment
annually and whenever there is an indication that the asset may be impaired.
Recoverable amount is the higher of fair value less costs to sell and value in
use. In assessing value in use, the estimated future cash flows are discounted
to their present value using a pre-tax discount rate that reflects current
market assessments of the time value of money and the risks specific to the
asset for which the estimates of future cash flows have not been adjusted.
If the recoverable amount of an asset (or cash-generating unit) is estimated
to be less than its carrying amount, the carrying amount of the asset
(cash-generating unit) is reduced to its recoverable amount. An impairment
loss is recognised as an expense immediately, unless the relevant asset is
carried at a re-valued amount, in which case the impairment loss is treated as
a revaluation decrease.
Where an impairment loss subsequently reverses, the carrying amount of the
asset (cash-generating unit) is increased to the revised estimate of its
recoverable amount, but so that the increased carrying amount does not exceed
the carrying amount that would have been determined had no impairment loss
been recognised for the asset (cash-generating unit) in prior years. A
reversal of an impairment loss is recognised as income immediately, unless the
relevant asset is carried at a revalued amount, in which case the reversal of
the impairment loss is treated as a revaluation increase.
2.17 Capital management
Capital is made up of stated capital, premium, other reserves and
retained earnings. The objective of the Group's capital management is to
ensure that it maintains strong credit ratings and capital ratios. This will
ensure that the business is correctly supported and shareholder value is
maximised.
The Group manages its capital structure through adjustments that
are dependent on economic conditions. In order to maintain or adjust the
capital structure, the Company may choose to change or amend dividend payments
to shareholders or issue new share capital to shareholders. There were no
changes to the objectives, policies or processes during the period ended 31
December 2025.
2.18 Share-based compensation
The fair value of the employee and suppliers' services received in exchange
for the grant of the options is recognised as an expense. The total amount to
be expensed over the vesting year is determined by reference to the fair value
of the options granted, excluding the impact of any non-market vesting
conditions (for example, profitability and sales growth targets). Non-market
vesting conditions are included in assumptions about the number of options
that are expected to vest. At each statement of financial position date, the
entity revises its estimates of the number of options that are expected to
vest. It recognises the impact of the revision to original estimates, if any,
in the income statement, with a corresponding adjustment to equity.
The proceeds received net of any directly attributable transaction costs are
credited to share capital (nominal value) and share premium when the options
are exercised.
The fair value of share-based payments recognised in the income statement is
measured by use of the Black Scholes model, which takes into account
conditions attached to the vesting and exercise of the equity instruments. The
expected life used in the model is adjusted; based on management's best
estimate, for the effects of non-transferability, exercise restrictions and
behavioural considerations. The share price volatility percentage factor used
in the calculation is based on management's best estimate of future share
price behaviour and is selected based on past experience, future expectations
and benchmarked against peer companies in the industry.
2.19 Property, plant and equipment
Property, plant and equipment are stated at historical cost less subsequent
accumulated depreciation and accumulated impairment losses, if any. Historical
cost includes expenditure that is directly attributable to the acquisition of
the items.
Subsequent costs are included in the asset's carrying amount or recognised as
a separate asset, as appropriate, only when it is probable that future
economic benefits associated with the item will flow to the Group and the cost
of the item can be measured reliably. All other repairs and maintenance are
charged to profit or loss during the financial period in which they are
incurred.
Depreciation on property, plant and equipment is calculated using the
straight-line method to write off their cost over their estimated useful lives
at the following annual rates:
Computer
equipment
30%
Useful lives and depreciation method are reviewed and adjusted if appropriate,
at the end of each reporting period.
An item of property, plant and equipment is derecognised upon disposal or when
no future economic benefits are expected to arise from the continued use of
the asset. Any gain or loss arising on the disposal or retirement of an item
of property, plant and equipment is determined as the difference between the
sales proceeds and the carrying amount of the relevant asset and is recognised
in profit or loss in the year in which the asset is derecognised.
2.20 Intangibles - Patents and trademarks
Patents acquired by way of the fair value uplift by way of the reverse merger
in 2014 have a finite useful life and are carried at cost less accumulated
amortisation. Amortisation is calculated using the straight line method to
allocate the cost of the these acquired patents over their estimated useful
life of twenty years once the patents have been granted.
Development costs for new patents and trademarks since 2014 that have been
capitalized in line with the recognition criteria of IAS38 have been estimated
to have a useful economic life of 10 years
2.21 Research and Development
Research expenditure is written off to the statement of comprehensive income
in the year in which it is incurred. Development expenditure is written off in
the same way unless the Directors are satisfied as to the technical,
commercial and financial viability of individual projects. In this situation,
the expenditure is deferred and amortised over the 10 years during which the
Group is expected to benefit.
2.22 Merger relief reserve
The merger relief reserve arises from the 100% acquisition of OptiBiotix
Limited whereby the excess of the fair value of the issued ordinary share
capital issued over the nominal value of these shares is transferred to this
reserve in accordance with section 612 of the Companies Act 2006.
2.23 Critical accounting judgments and key sources of estimation uncertainty
The preparation of the financial statements requires management to make
estimates and assumptions concerning the future that affect the reported
amounts of assets and liabilities and the disclosure of contingent assets and
liabilities at the dates of the financial statements and the reported amounts
of revenues and expenses during the reporting periods.
The resulting accounting estimates will, by definition, differ from the
related actual results.
· Share based payments
The fair value of share based payments recognised in the income statement is
measured by use of the Black Scholes model, which takes into account
conditions attached to the vesting and exercise of the equity instruments. The
expected life used in the model is adjusted; based on management's best
estimate, for the effects of non-transferability, exercise restrictions and
behavioural considerations. The share price volatility percentage factor used
in the calculation is based on management's best estimate of future share
price behaviour and is selected based on past experience, future expectations
and benchmarked against peer companies in the industry.
· Useful life of intangible assets
Management have estimated that the useful life of the fair value uplift of the
patents acquired by way of the reverse merger in 2014 to be 20 years.
Development costs of patents and trademarks since 2014 that have been
capitalized in line with the recognition criteria of IAS38 have been estimated
to have a useful economic life of 10 years. These estimates will be reviewed
annually and revised if the useful life is deemed to be lower based on the
trading business or any changes to patent law. The net book value of
intangible assets at the year-end was £0.91m, (2024: £1.12m)
· Impairment reviews
IFRS requires management to undertake an annual test for impairment of
indefinite lived assets and, for finite lived assets to test for impairment if
events or changes in circumstances indicate that the carrying amount of an
asset may not be recoverable. Impairment testing is an area involving
management judgement, requiring assessment as to whether the carrying value of
assets can be supported by the net present value of future cash flows derived
from such assets using cash flow projections which have been discounted at an
appropriate rate. In calculating the net present value of the future cash
flows, certain assumptions are required to be made in respect of highly
uncertain matters. Assets under consideration are intangible assets on a Group
level and investments on a Company level.
3. Revenue - Segmental Reporting
In the opinion of the Directors, the Group has one class of business, in five
geographical areas being that of identifying and developing microbial strains,
compounds and formulations for use in the nutraceutical industry. The Group
sells into four highly interconnected markets, all costs, assets and
liabilities are derived from the UK location.
Revenue analysed by geographical market
Year ended Year ended
31 December 31 December 2024
2025
£'000 £'000
UK 315 330
US 354 141
India 160 171
China 68 133
Rest of world 268 95
────── ──────
1,166 870
══════ ══════
During the reporting period one customer represented £200k (17%) of Group
revenues. (2024: one customer generated £121k representing 13.9% of Group
revenues).
4. Employees and Directors
Year ended Year ended
31 December 31 December 2024
2025
£'000 £'000
Wages and salaries 281 274
Directors' remuneration 522 414
Benefits in kind 7 5
Bonus - 25
Social security costs 88 80
Pension costs 34 30
────── ──────
934 829
══════ ══════
4. Employees and Directors (Continued)
Year ended Year ended
31 December 31 December 2024
2025
No. No.
The average monthly number of employees during the period was as follows:
Group
Directors 5 5
Selling, General and Administration 4 5
────── ──────
9 10
══════ ══════
Company
Directors 5 5
───── ──────
5 5
══════ ══════
Directors' remuneration was as follows:
Year ended Year ended
31 December 31 December 2024
2025
£'000 £'000
Directors' remuneration 522 414
Benefits in kind 7 5
Bonus - 25
Pension 27 11
────── ──────
Total emoluments 556 455
══════ ══════
Emoluments paid to the highest paid director:
Remuneration for qualifying services 240 235
Company pension contributions to defined pension scheme 15 8
────── ──────
255 243
══════ ══════
Directors' remuneration
Details of emoluments received by Directors and key management of the Company
for the year ended 31 December 2025 are as follows:
Directors
Remuneration Share based Pension Costs Benefits in Kind Total Total
and fees payments 2024
£'000 £'000 £'000 £'000 £'000 £'000
S P O'Hara 240 519 15 6 780 286
M S Christie 30 - - - 30 29
RN Davidson 70 - - - 70 66
S Kolyda 113 25 12 1 151 75
G Myers - - - - - 44
D Blain 69 - - - 69 -
Total 522 544 27 7 1,100 500
Share based payments is an accounting charge and not remuneration paid to
directors.
Benefits in kind relate to medical insurance. The number of directors to
whom retirement benefits were accruing was 2 (2024: 2).
The Group recharged £21,000 and £723 to Probiotix Health PLC for services
provided by S O'Hara and S Kolyda respectively.
Fees for D Blain are paid to Blain Associates Limited.
5. Net Finance Income
Year ended Year ended
31 December 31 December
2025 2024
£'000 £'000
Finance Income:
Bank Interest - 1
────── ──────
Net Finance Income - 1
══════ ══════
6. Operating loss
Year ended Year ended
31 December 31 December
2025 2024
£'000 £'000
Operating loss is stated after charging/(crediting):
Auditor remuneration - audit fees (Group and Company accounts) 59 55
(Loss)/gain on fixed asset investments (394) 749
Amortisation of intangible assets (see note 9) 205 209
Staff costs (see note 4) 934 829
Foreign exchange losses/(gains) 7 (8)
Research and development expense 320 108
Share-based payments 1,061 47
7. Corporation Tax
Corporation Tax
Year ended Year ended
31 December 31 December 2024
2025
£'000 £'000
Corporation tax credit - (11)
Deferred tax movement 53 72
────── ──────
Total taxation 53 61
══════ ══════
Analysis of tax expense
No liability to UK corporation tax arose on ordinary activities for
the year ended 31 December 2025 nor for the year ended 31 December 2024.
7. Corporation Tax (continued)
Year ended Year ended
31 December 2025 31 December 2024
£'000 £'000
Loss on ordinary activities before income tax (3,943) (1,866)
═══════ ═══════
Loss on ordinary activities multiplied by the standard rate of corporation tax
in UK of 25% (2024 - 25%)
(873) (467)
Effects of:
Disallowables 767 273
Income not taxable (403) (380)
Amortisation 36 35
Unused tax losses carried forward 473 528
────── ──────
Tax (charge)/credit - (11)
══════ ══════
The Group has estimated losses of £14.8m (2024: £9.1m) in respect of which a
deferred tax asset of £3.7m (2024: £2.2m) has not been recognised due to the
uncertainty of future taxable profits. The unrecognised deferred tax asset
has been assessed by reference to a rate of 25% which is the UK headline
corporation tax rate from 1 April 2023.
The Group submits claims for R&D tax credits in respect of its research
and development activities in respect of microbiome modulators and similar
products relating to the exploitation of its patent portfolio and potential
new patents arising from scientific research performed by Group employees and
its partners. Whilst the Board is confident of recovery of the estimated
R&D tax credit, there is no certainty that the receivable will be
recoverable until HMRC have approved the claim and the enquiry window is
closed. However, based on the Group's history of successful claims over a
number of years, the Board are satisfied that the tax receivable is
recoverable and appropriately recorded.
8. Earnings per share
Basic earnings per share is calculated by dividing the earnings
attributable shareholders by the weighted average number of ordinary shares
outstanding during the period. Reconciliations are set out below:
2025
Weighted average
Basic and diluted EPS Earnings Number of shares Profit per-share
£'000 No. Pence
Basic EPS (3,890) 101,201,478 (3.84)p
══════ ════════ ══════
2024
Weighted average
Earnings Number of shares Profit per-share
£'000 £ Pence
Basic EPS (1,805) 97,902,046 (1.84)p
══════ ════════ ══════
Diluted earnings per share is the basic earnings per share adjusted
for the effect of the conversion into fully paid shares of the weighted
average number of share options outstanding during the year. The Group was
loss making for the years ended 31 December 2024 and 31 December 2025;
therefore, the dilutive effect of share options has not been disclosed since
this would decrease the loss per share for each of the years reported. As at
31 December 2025 there were 7,207,907 (2024: 7,207,907) outstanding share
options.
9. Intangible assets
Group Development Costs and Patents
£'000
Cost
At 31 December 2023 2,537
Impairment (5)
───────
At 31 December 2024 2,532
Impairment -
───────
At 31 December 2025 2,532
═══════
Amortisation
At 31 December 2023 1,206
Amortisation charge for the year 209
───────
At 31 December 2024 1,415
Amortisation charge for the year 205
───────
At 31 December 2025 1,620
═══════
Carrying amount
At 31 December 2025 912
At 31 December 2024 1,117
═══════
The Company had no intangible assets during the reporting period.
Development costs and patents represent cost capitalised in respect of the
Group's intellectual property portfolio and includes the costs of registering
and maintaining patents as well as capitalised development costs. All
intangible assets relate to the Group's principal activities.
10. Property, plant and equipment
Group
£'000
Cost
At 31 December 2023 8
Additions -
Disposals -
───────
At 31 December 2024 8
Additions -
Disposals -
───────
At 31 December 2025 8
═══════
Depreciation
At 31 December 2023 8
Charge for the year -
───────
At 31 December 2024 8
Charge for the year -
───────
At 31 December 2025 8
═══════
Carrying amount
At 31 December 2025 -
At 31 December 2024 -
═══════
The Company had no fixed assets during the reporting period.
11. Investments
Group
Set out below is the investment in Skinbiotherapeutics PLC. The investment was
treated as an associate of the Group until 2 November 2020, after which time
the shareholding dropped to 24.65% and recalculated as an equity investment.
The Group records its investment in Skinbiotherapeutics plc at fair value and
is remeasured by reference to its closing price on AIM at each reporting
date. The share price at 31 December 2025 was 15.75p.
During the year, 7,284,389 were disposed to generate proceeds of £1,355k with
the valuation at 31 December 2024 of £1,347k. At 31 December 2025 the holding
stood at 5.64%. SBTX's shares were suspended from trading on AIM on 31 March
2026. On 27 April 2026 7.5m shares were sold generating net proceeds of
£673,000.
2025 2024
£'000 £'000
Investments
At the beginning of the period 4,049 3,887
Revaluations (402) 486
(Loss)/Gain on investments - -
Disposal of shares during year (1,347) (324)
At 31 December 2,300 4,049
Investment in Associate
On 31 March 2022, ProBiotix Health Plc ("PBX") the parent company of ProBiotix
Limited listed on the AQSE Growth Market. The listing of PBX on AQSE, together
with the issue of a dividend in specie and issue of new shares, means that PBX
is now considered an associate for accounting purposes with its revenues and
costs removed post listing and only OptiBiotix's (44%) proportion of its
profit and loss included in the Group's accounts under the equity method of
accounting. The step-down from being a subsidiary to an associate resulted
in the revaluation of the remaining interest held in PBX at the listing price
and a gain on disposal of a subsidiary recognised in the income statement. A
gain of £21.647m was recorded in the income statement.
An assessment was undertaken to assess whether the Company had defacto control
over PBX during the period considering Board representation, financing
arrangements, the Relationship agreement and the other shareholdings in PBX.
Based on the assessment it was concluded that the Company only had significant
influence and that PBX was an associate in the period. The Relationship
agreement sets out costs that are being incurred by the Group that are being
recharged to PBX.
At 31 March 2022 the Group held 53,533,333 shares in Probiotix Health plc,
valued at the IPO price of 21p resulting in a deemed cost of investment in
associate of £11.24m.
Following the issue of shares in September 2024 the Group's holding in
associate decreased from 44% to 33.85%. As an associate, the Group's
investment is equity accounted and the Group's 33.85% share of loss was
deducted from this carrying value.
11. Investments (continued)
Investment in Associate
2025 2024
£'000 £'000
Investments
At the beginning of the period 2,456 2,806
Share of result for the period (see below) (417) (350)
At 31 December 2,039 2,456
PBX is registered in United Kingdom and is in the Health food sector.
Set out below is financial information on PBX set out in its IFRS financial
statements for the year to 31 December 2025.
2025 2024
£'000 £'000
Revenue 2,732 1,883
Loss from continuing operations (1,235) (852)
Total comprehensive loss (1,233) (847)
Current assets 1,617 1,934
Current Liabilities (318) (194)
Non-current liabilities (47) (60)
Share of total comprehensive loss (417) (350)
11. Investments (continued)
Company Investments
2025 2024
£'000 £'000
Listed Investments
At the beginning of the period 4,049 3,887
Revaluations (402) 486
Disposal of shares during year (1,347) (324)
───── ─────
2,300 4,049
───── ─────
Investment in subsidiaries
At the beginning of the period 1,971 1,971
Impairment - -
───── ─────
1,971 1,971
───── ─────
At 31 December 4,271 6,020
Company Investment in Associate
2025 2024
£'000 £'000
At the beginning of the period 3,212 3,212
At 31 December 3,212 3,212
The Company holds listed investments at fair value, and investments in
subsidiaries and associates at cost less impairment. The fair value of the
Company's investment in Probiotix Health plc upon losing control was set as
deemed cost.
11. Investments (continued)
The Directors have had regard to potential impairment of the Group's
investment in Probiotix. The Directors believe there are no indicators which
point to a potential adverse impact on the asset.
The entities listed below have share capital consisting solely of ordinary
shares, which are held by the Group. The country of incorporation is also the
principal place of business, and the proportion of ownership interest is the
same as the proportion of voting rights held.
As at 31 December 2025 the Company directly held the following subsidiaries:
Name and Nature of Active / Dormant Country of incorporation Proportion of
Registered office address of company Business and place of business equity interest
OptiBiotix Limited Research & Development Active United Kingdom 100% of ordinary shares
Innovation Centre Innovation Way, Heslington, York, YO10 5DG
Optibiotix Health India Private Limited Health foods Active India 100% of ordinary shares
House NO.243, Mcd Colony, Vivekanand Puri Sarai
Rohilla City, Delhi CITY, DELHI, North Delhi, Delhi, India, 110007
Optibiotix Health USA Inc Dormant USA 100% of ordinary shares
Corporation Trust Center
1209 Orange Street
City of Wilmington
County of New Castle
State of Delaware 19801
12. Inventories
Group Company
2025 2024 2025 2024
£'000 £'000 £'000 £'000
Finished goods 270 189 - -
Raw Materials 29 41 - -
───── ───── ───── ─────
299 230 - -
══════ ══════ ══════ ══════
During the period £552k (2024: £358k) has been expensed to the income
statement.
13. Trade and other Receivables
Group Company
2025 2024 2025 2024
£'000 £'000 £'000 £'000
Current
Accounts receivable 107 314 - 9
Other receivables 113 110 6 8
Prepayments and accrued income 64 9 11 -
───── ───── ───── ─────
284 433 17 17
══════ ══════ ══════ ══════
During the year Optibiotix Health PLC recharged Probiotix Health PLC £21,000,
(2024 £30,000) for Directors' fees the balance owing at the year end was
£nil (2024: £7,500).
During the year Optibiotix Health PLC loaned Optibiotix Limited £1,825,000,
(2024 £1,400,000) to finance working capital costs. Optibiotix Limited
recharged Optibiotix Health PLC £667,000 (2024: £623,000) for salary and
other costs. The balance at the year end of £1,158,000 (2024: £777,000) was
cancelled. There was no interest charged during the year. This does not impact
on the consolidated Group accounts.
During the year Optibiotix Health PLC loaned OptiBiotix India £43,000 for
marketing expenses. The balance at the year end was cancelled.
During the year Optibiotix Limited transactions with Probiotix Limited were as
follows: -
• £Nil (2024: £171,733) for salaries and
administration costs;
• £70,000 (2024: NIL) charges for product; and
There was no interest charged during the year. There was £nil balance (2024:
£3,770) outstanding at the year end.
14. Cash and Cash Equivalents
Group Company
2025 2024 2025 2024
£'000 £'000 £'000 £'000
Cash and bank balances 1,037 739 590 577
══════ ══════ ══════ ══════
All cash is held in demand deposits with large UK and Indian banks.
15. Called Up Share Capital
2025 2024
£'000 £'000
────── ──────
Allotted, called up and fully paid share capital 2,066 1,959
══════ ══════
2025 2024
Shares in issue
Opening balance 1 January 97,943,161 91,190,661
Share issue 5,357,143 6,752,500
────── ──────
Closing balance at 31 December 103,300,304 97,943,161
══════ ══════
2025 2024
Share Capital £'000 £'000
Opening balance 1 January 1,959 1,824
Share issue 107 135
────── ──────
Closing balance at 31 December 2,066 1,959
══════ ══════
2025 2024
Share Premium £'000 £'000
Opening balance 1 January 4,107 2,958
Share issue 606 1,149
────── ──────
Closing balance at 31 December 4,713 4,107
══════ ══════
16. Reserves
Share capital is the amount subscribed for shares at nominal value. Share
premium represents amounts subscribed for share capital in excess of nominal
value, net of expenses.
Merger relief reserve arises from the 100% acquisition of OptiBiotix Limited
on 5 August 2014 whereby the excess of the fair value of the issued ordinary
share capital issued over the nominal value of these shares is transferred to
this reserve in accordance with section 612 of the Companies Act 2006.
Retained earnings represents the cumulative profits and losses of the Group
attributable to the owners of the company net of distributions paid.
Share based payment reserve represents the cumulative amounts charged in
respect of unsettled warrants and options issued.
17. Trade and other payables
Current:
Group Company
2025 2024 2025 2024
£'000 £'000 £'000 £'000
Accounts payable 170 270 30 17
Accrued expenses 101 63 91 63
Other payables 113 35 - -
─────── ─────── ─────── ───────
Total trade and other payables 384 368 121 80
─────── ─────── ─────── ───────
18. Deferred Tax
Deferred tax is provided, using the liability method, on temporary differences
at the statement of financial position date between the tax base of assets and
liabilities and their carrying amounts for financial reporting purposes.
Deferred tax is calculated in full on temporary differences under the
liability method using a tax rate of 25% (2024: 25%).
The movement on the deferred tax account is as shown below:
2025 2024
£'000 £'000
At 31 December 279 352
Movement in the period (53) (73)
────── ──────
At 31 December 226 279
══════ ══════
Deferred tax assets have not been recognised in respect of tax losses and
other temporary differences giving rise to deferred tax assets as the
Directors believe there is uncertainty over the timing of future taxable
profits. Further details of available losses are set out in note 7.
19. Related Party Disclosures
Transactions and balances with Probiotix Health Plc are set out in note 13.
Directors' remuneration has been fully disclosed in note 4
20. Ultimate Controlling Party
The Board considers that there is no overall controlling party.
21. Share Based payment Transactions
(i) Share options
The Company has a share option programme to grant share
options as an incentive for employees of the subsidiaries.
Each share option converts into one ordinary share of the Company on
exercise. No amounts are paid or payable by the recipient on receipt of the
option and the Company has no legal obligation to repurchase or settle the
options in cash. The options carry neither rights to dividends nor voting
rights prior to the date on which the options are exercised. Options may be
exercised at any time from the date of vesting to the date of expiry.
Movements in the number of share options outstanding and their related
weighted average exercise prices are as follows:
Number of options Average exercise price
2025 2024 2025 2024
No. No. £ £
Outstanding at the beginning of the period 7,207,907 6,857,907 0.156 0.08
Granted during the period 358,772 6,449,135 0.110 -
Forfeited/cancelled during the year (358,772) (6,099,135) 0.200 0.08
─────── ─────── ────── ──────
Outstanding at the end of the period 7,207,907 7,207,907 0.152 0.156
─────── ─────── ────── ──────
Of the options in issue, 6,256,635 are fully vested at the balance sheet
date.
For share options issued in 2022, the Company agreed with a number of option
holders to surrender their existing options in return for Nominal Value
Options over half the number of shares of their existing options, which are
subject to a combination of performance and time-based vesting criteria. This
ensures a continued focus on commercial revenues and shareholder value
creation. New options will be granted on a similar basis going forward.
Options granted to non-executive directors will be subject to time-based
vesting.
Share options issued in 2025 vest as follows:-
· 179,386 on a share price trigger of 40p per share;
· 89,693 on completion of the cholesterol human studies; and
· 89,693 on completion of the cholesterol human studies and release of
the results for a product containing a novel sugar
The share options outstanding at the period end had a weighted average
remaining contractual life of 2,593 days (2024: 3,398 days) and the maximum
term is 8 years.
The share price per share at 31 December 2025 was £0.0675 (2024: £0.18)
Where share options were cancelled and replaced with share options with
revised terms, the Board have considered this set of transactions as a
modification of share based payment arrangements and have therefore considered
whether any incremental value arises as a result of the grant of modified
awards. Having performed an assessment the Board have concluded that no
incremental value fair is required and therefore no charge has been
recognised. In respect of replacement options and new options issued in
2024 which include market based vesting conditions in respect of revenue
targets, the Board have determined that the value of this proportion of shares
have immaterial value in light of the Group's results for the 2024 accounting
period in which they were granted.
(i) Warrants
On the 23 May 2025 2,678,572 warrants were issued to investors as part of the
placing at one warrant for every two new ordinary shares. The warrants are
exercisable for 3 years from the date of Admission.
22. Financial Risk Management Objectives and Policies
The Group's financial instruments comprise cash balances and
receivables and payables that arise directly from its operations.
The main risks the Group faces in respect of its financial
statements are liquidity risk and credit risk.
The Board regularly reviews and agrees policies for managing each of
these risks. The Group's policies for managing these risks are summarised
below and have been applied throughout the period.
Interest risk
The Group is not exposed to significant interest rate risk as it
has limited interest bearing liabilities at the year end.
The Group's financial assets do not bear interest.
Credit Risk
The Group try to limit the credit risk by dealing with larger
companies and also asking new smaller customers to provide a deposit with
the purchase order.
Management have regard to credit exposures when entering into new
contracts and seek to agree settlement terms on all contracts. Credit
exposure is regularly monitored by management and any overdue debts are
followed up as part of the Group's credit control procedures. Where a debt
becomes significantly overdue, management have regard to credit loss
provisions to reflect the existence of expected credit losses, taking account
of forward looking information as well as the pattern of cash collections for
that category of customer.
The Board consider a default to have occurred when a receivable
passes 60 days beyond agreed credit terms, at which point regard is had to the
specific characteristics of the debtor in assessing exposure to material
credit risk and therefore the requirement to create a loss provision.
Liquidity risk
Liquidity risk is the risk that Group will encounter difficulty in
meeting these obligations associated with financial liabilities.
The responsibility for liquidity risks management rest with the Board of
Directors, which has established appropriate liquidity risk management
framework for the management of the Group's short term and long-term funding
risks management requirements.
During the period under review, the Group has not utilised any
borrowing facilities.
The Group manages liquidity risks by maintaining adequate reserves by
continuously monitoring forecast and actual cash flows, and by matching the
maturity profiles of financial assets and liabilities.
Capital risk
The Group's objectives when managing capital are to safeguard the ability to
continue as a going concern in order to provide returns for shareholders and
benefits to other stakeholders and to maintain an optimal capital structure to
reduce the cost of capital.
23. Post Balance Sheet Events
On 25 March and 27 April 2026 the Company sold 1.4m and 7.5m SBTX
shares respectively generating net proceeds of £787,000.
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Copyright 2019 Regulatory News Service, all rights reservedRecent news on OptiBiotix Health
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