REG - OptiBiotix Health - Half-year Report
Today 07:00
For best results when printing this announcement, please click on link below:
https://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20250916:nRSP4148Za&default-theme=true
RNS Number : 4148Z OptiBiotix Health PLC 16 September 2025
OptiBiotix Health plc
("OptiBiotix" or the "Company" or "the Group")
Half Year Report
Strong period of growth
OptiBiotix Health plc (AIM: OPTI; OTCQB: OPTBF), a life sciences business
developing products which reduce hunger and food cravings, enhance the gut
microbiome, and sweet fibres as healthy sugar substitutes announces its
unaudited results for the six months ended 30 June 2025.
Highlights
· Significantly increased sales with revenue up 102% to £557K (H1
2024: £276K)
· Gross profit margin increased to 54% (H1 2024: 40%)
· Gross profit up 173% to £303K (H1 2024: £111K)
· Administrative costs (including selling, R&D and patent costs
and excluding shared based payments, depreciation, and amortisation) remain
relatively stable at £1.15m (H1 2024: £1.07m)
· Strong cash balance of £1.3m (H1 2024: £1.3m)
· First order received of six metric tonnes from Brenntag, the
Company's new Australian distributor
· Launch of products in the USA with two new partners (NHT Global
and Nouri)
· The number of e-commerce customers up by 38% to 5,095 customers
(H1 2024: 3,702 customers) due to a 57.7% increase in Amazon orders to 4,159
(H1 2024: 2,638)
· E-commerce Amazon sales up 87.6% to £93,767 (H1 2024: £49,995)
· Appointed new trading partner in China with a focus on TMALL
sales
· Growing list of new customers in Asia and the USA
Post period
· 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 expected in H2 and
product launch in H1 2026
· First order received from a new partner in Taiwan, Meelung
Trading
· Discovery of a new enzyme for SweetBiotix which has substantially
higher yields which will significantly improve manufacturing costs. The same
enzyme can generate multiple SweetBiotix products with a wide sweetness range
when compared to sucrose
The Company delivered strong financial performance in H1 2025, with sales more
than doubling compared to H1 2024, supported by improved margins. Equally
important is that we are now seeing a growing contribution from our India and
USA businesses. We anticipate continued momentum in sales growth with the full
year effect of 2024 launches, new and existing partners launching new products
in USA and Asia, e-commerce continuing its growth trajectory with launch of
products on Amazon India, and annual license revenues from SweetBiotix
occurring in H2 2025.
The Company should see the effect of reductions in PR, broker, and staff costs
in H2 2025 and a recently negotiated 30% reduction in IP costs. It continues
to work on further margin improvements by negotiating reductions in the cost
of goods from volume discounts, and supplying Asia from India, which has lower
manufacturing costs.
Stephen O'Hara, CEO of OptiBiotix Health plc said: "The strong growth in 2024
has continued with increased momentum into H1 2025 and sales growth across all
areas of business. Equally important are the steps we have taken to reduce
costs and improve margins whilst continuing to grow sales.
"The Company has increasing sales and margins, regulatory approvals and health
claims approved in all major territories, and a network of more reliable
global manufacturing and distribution partners. This gives the Company a broad
base on which to deliver future revenue growth with the aim of achieving
profitability across all parts of the business and the Group generating
positive cashflow."
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.
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), which was formed in March
2012, brings science to the development of compounds which modify the human
microbiome - the collective genome of the microbes in the body - in order to
prevent and manage human disease and promote wellness.
OptiBiotix has an extensive R&D programme working with leading academics
in the development of microbial strains, compounds, and formulations which are
used as active ingredients and supplements. More than twenty international
food and healthcare supplement companies have signed agreements with
OptiBiotix to incorporate their human microbiome modulators into a wide range
of food products and drinks.
OptiBiotix is also developing its own range of consumer supplements and health
products. The Company's current areas of focus include obesity, cardiovascular
health, and diabetes.
Caution regarding forward looking statements
Certain statements in this announcement, are, or may be deemed to be,
forward-looking statements. Forward-looking statements are identified by
their use of terms and phrases such as ''believe'', ''could'', "should"
''envisage'', ''estimate'', ''intend'', ''may'', ''plan'', ''potentially'',
"expect", ''will'' or the negative of those, variations or comparable
expressions, including references to assumptions. These forward-looking
statements are not based on historical facts but rather on the Directors'
current expectations and assumptions regarding the Company's future growth,
results of operations, performance, future capital and other expenditures
(including the amount, nature and sources of funding thereof), competitive
advantages, business prospects and opportunities. Such forward-looking
statements reflect the Directors' current beliefs and assumptions and are
based on information currently available to the Directors.
CHAIRMAN'S AND CHIEF EXECUTIVE'S STATEMENT
For the six months to 30 June 2025
Our strategy of expanding into the USA and Asia, building our online presence
and imposing tighter control of costs is delivering strong sales growth and
improving margins. Since Stephen O'Hara resumed the role of CEO of OptiBiotix
Ltd in Spring 2023, the Group has a smaller team (from 10 to 7 employees) and
a smaller non-executive board (from 4 to 2 non-executives), negotiated a 30%
reduction in IP costs, increased sales and margins, and built a more reliable
global manufacturing and distribution network. This has stabilised the
business and returned it to year-on-year growth.
We have also completed multiple human studies of our products which have
allowed us to gain regulatory approvals for on-pack health claims in all major
territories around the world. Having invested in building these foundations,
the Group is now building international sales with a growing number of larger
partners which provides a firm pathway towards our goal of achieving
profitability in all parts of the business and generating positive Group
cashflow.
Strategic overview
Our strategy has been designed to reduce risk and maximise opportunities for
investors, both by creating a broad spread of assets and by recognising the
challenges inherent in bringing new technologies and products to a
conservative global food market, where clinical data, regulatory approvals,
and risk avoidance are key, and the acceptance of new products is notoriously
slow.
Since the Group's inception we have created a wide range of microbiome assets
including prebiotic products like SlimBiome®, WellBiome®, SweetBiotix® and
Microbiome Modulators within our core OptiBiotix Health plc (OPTI) business,
but also skincare through SkinBioTherapeutics PLC (SBTX), and probiotics
through ProBiotix Health plc (PBX). These companies create a diverse portfolio
of tangible assets in an emerging area of healthcare that is of growing
interest in consumer markets throughout the world. This approach reflected
consumer awareness, market growth, and market size, with the probiotic market
larger and more established than the evolving skin and prebiotic markets. This
strategy allowed us to grow these businesses initially as part of OptiBiotix,
and subsequently separately, and provide a £10.25m dividend in specie of PBX
shares to OptiBiotix shareholders in March 2022 and a return, currently valued
at £9.7m, on our £650,000 initial investment in SBTX. The separate listing
of these companies onto AIM (SBTX) and AQUIS (PBX) allowed them to build their
own specialist teams to exploit opportunities. The potential for growth in
both these companies offers OPTI opportunities to realise value through the
sale of shares or a return to shareholders through an ad hoc dividend.
Progress update
Research and development
OPTI is a small company with a single R&D employee that commissions
research and development from leading international universities with key
opinion leaders. This is a cost effective means of product development which
has enabled us to develop two first-generation products, SlimBiome® and
WellBiome®, together with second-generation products in SweetBiotix® and
Microbiome Modulators, which provide a step change in current available
products. Four human studies on SlimBiome® have been completed with ongoing
studies of WellBiome® supported by grant funding. The Group has received NHS
ethics approval and a grant with Hull University Teaching Hospital to assess
the impact of pre-operative WellBiome versus placebo on cardiac surgical
outcomes, inpatients stays, and potential NHS cost savings. This is a high
impact study which if successful could lead to WellBiome being used
pre-operatively in the NHS.
We are continuing our work on our microbiome modulators and progressing
SweetBiotix product development with our partners. We have recently made a
major breakthrough with a new enzyme which has substantially higher yields and
can generate multiple SweetBiotix products with the same enzyme with a wide
sweetness range compared to sucrose. This increases the number of product
opportunities and from an industry viewpoint reduces the need for multiple
enzymes and processes with a substantial reduction in production costs.
Our second-generation products continue to be groundbreaking and based on
discussions with multi corporate partners, appear to be unique in the
industry. They have now reached a level of scientific, manufacturing and
regulatory substantiation that is attracting interest from major partners.
Consumer Health and E-commerce
We continue to benefit from the investments we have made in e-commerce within
our Consumer Health business to drive direct-to-consumer sales as part of a
multi-channel approach to maximise consumer interest in our products and to
realise higher returns on marketing spend (ROMS). The Consumer Health business
is becoming an international business as part of an incremental expansion plan
leading to growing sales in the UK, Europe, China, and more recently India.
In the period to the end of June 2025 we grew the total number of e-commerce
customers from 3,702 to 5,095, a 38% year-on-year increase. This was largely
due to our investment in Amazon UK, where the number of customers increased by
57.7% to 4,159 (H1 2024: 2,638) and sales from £49,995 to £93,767, a 87.6%
increase. We regularly feature in the Amazon 'Best Sellers' category and gain
'Amazon Choice' badges illustrating the strength of our products and service.
We have also successfully launched Apollo's GoFigure products on Amazon India,
while in the USA we continue to receive excellent reviews for our FeelFull
prebiotic lemonade drink sold through both Daily Nouri's own online store and
Amazon USA.
Whilst the Company recognises the need to invest in e-commerce to grow sales
it must balance this against its ROMS. The Company carries out regular ROMS
reviews on its partners, channels, and products and identified widely varying
returns from its Chinese trading partner. As a result of this, the Company
decided to change its trading partner and appoint a new partner with a focus
on TMALL sales, which our analysis showed, gave us a higher ROMS. This was
achieved over the summer, and based on early data we are confident that this
change will lead to higher returns on our marketing spend and a shorter path
to profitability in this market.
OptiBiotix Health USA Inc
We have made good progress towards our strategic goals of increasing our
number of partners and growing our sales within the USA, the world's largest
economy. Our position in this important market has been strengthened by the
establishment of a new, wholly owned subsidiary, OptiBiotix Health USA, and
leasing a facility to warehouse SlimBiome® within the US. This allows us to
mitigate the risk of tariffs and customs delays to support partner forecasts,
and to meet the short (two to three week) delivery deadlines required by our
growing number of e-commerce and retail partners.
We are building a growing presence in the US market, launching products in the
period with two new partners, Daily Nouri and Natural Health Trends
Corporation (NHT), and receiving our first order for SlimBiome® as an
ingredient from the leading US weight loss supplement brand, Hydroxycut. This
followed almost two years of work with the brand on human studies that allow
it to make scientifically substantiated on-pack health claims of hunger
reduction of 74% and 83% on its products. Hydroxycut markets itself as the No.
1 selling weight loss supplement brand in the United States of America and
launched its first product containing SlimBiome under the brand name
'Hydroxycut Hunger Control' post period. This is another example of the
Company launching products with well-known brands in key international markets
which if successful have the potential to make a significant contribution to
future sales growth and shareholder value.
Discussions are also ongoing with a number of large US partners to
commercialise our second-generation SweetBiotix® and microbiome modulators.
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 producing SlimBiome® in India to distribute as an
ingredient or final product to customers throughout Asia and Australasia.
We continue to make good progress in this key strategic market, following a
multichannel approach that embraces both business-to-business sales and direct
sales to consumers. Our partnership with Morepen continues to grow, with the
launch of their LightLife product range containing SlimBiome® proving
successful and leading to reorders in H1 2025. They are looking to extend
their product range and have launched existing products in pharmacies at the
start of H2 2025. This was later than planned but we hope will lead to
another order in late H2 or early 2026. We have repackaged and relaunched the
GoFigure® range sold through Apollo Pharmacies across India to give added
prominence to Tata Chemicals' proprietary Fossence® ingredient, which is well
known and respected by Indian consumers, under the partnership agreement we
signed with Tata in 2023. Since the beginning of the year our wholly owned
subsidiary OptiBiotix Health India has announced the launch on Amazon India of
a range of meal replacement and flavoured shot products containing SlimBiome®
under the GoFigure® brand. We will be launching products currently sold on
Amazon UK/Europe on Amazon India in H2. This allows us to carry across
reviews, Best Seller and Amazon Choice badges to help build our presence in
this key market.
We continue to see strong growth in Asia with new and existing partners
launching new products with approximately 30 new customers across Asia since
the start of 2025 at varying stages of product development and launch. We see
this as a long-term high growth area for ingredient sales of all our products.
Post period, in August, we received our first order from a Taiwanese partner,
Meelung Trading.
Australia
Following clearance of the stock overhang held in Australia by our former
distribution partner Maxum and the appointment of Brenntag as our new
distributor we were pleased to receive and ship a six metric tonne order in
H1. We have continued to grow sales of our OptiBiome® prebiotic fibre (an
alternative trademark to SlimBiome®) to our partner Optipharm in their
Optislim and Optiman ranges, and Brenntag secured three additional partners in
Australia, one of which is a major brand, to reduce the risk associated with
reliance on a single partner.
Results
Our results for the six months ended 30 June 2025 are set out below and show
revenue increasing by 102% to £557k (H1 2024: £276k), gross profit growing
by 173% to £303k (2024: £111k), and an improvement in gross profit margin to
54% (2024: 40%).
Administrative costs (including selling, R&D and patent costs, but
excluding share-based payments and depreciation) remained relatively stable at
£1.153m (2024: £1.071m) despite taking on the full costs of some employees
previously shared with PBX under a shared service agreement. After accounting
for non-cash share based payments of £486k (2024: £nil) and depreciation and
amortisation of £101k (2024: £106k) this has resulted in a loss of £1.44m
(2024: £1.07m). After our share of the loss of our associate PBX, fair value
adjustments to our shareholdings in PBX and SBTX and profit on disposal of
some investments, we recorded a loss before tax for the period of £1.18m
(2024: £2.79m).
As in previous years, there was no contribution in this period from licence or
royalty payments which are received in the second half of the year.
The Group continues to enjoy a healthy balance sheet with net assets of
£8.42m (30 June 2024: £7.36m), no debt and cash of £1.30m (30 June 2024:
£1.26m).
The Groups trading is structured internally into 4 business units: USA, India,
Consumer Health/e-commerce, and Business to Business (B2B) and hopes to report
results for each of these business units separately in the future.
Outlook
We anticipate continued strong sales growth in the second half of the year as
we see full year benefit of 2024 product launches, launches of new products in
2025 in both the USA and Asia by new and existing partners, and sustained
progress in e-commerce, notably though our new trading partner in China and
the launch of products on Amazon India. The launch of Hydroxycut Hunger
Control in the USA's No1 selling weight loss brand, has the potential to make
a significant contribution to future sales growth. The scale of this will be
determined by the products' retail success and the extent of the number of
products included in the Hydroxycut range but requirements could be in the
range of 4.5mt per month over time.
The signing of an important agreement with a well-known direct selling weight
management company is expected to lead to their first order in H2 and the
launch of products containing SlimBiome® and WellBiome® in 2026. Consumer
awareness of hunger control heightened by the launch of anti-obesity drugs has
increased interest in scientifically proven, non-drug alternatives to reduce
hunger and cravings and this agreement opens new opportunities to include
science backed functional ingredients into other well-known weight management
brands.
Having invested in building the science, regulatory approvals, and a more
reliable manufacturing and distribution network in major territories the Group
is now focused on improving cost control and building international sales with
larger partners, such as Morepen in India, Hydroxycut in the USA, and Brenntag
in Australia.
Whilst margins will vary according to our revenue mix, we are working on
further margin improvements by reductions in the cost of goods through volume
discounts, and the supply of Asian and Australian markets from India, which
has lower manufacturing costs. We also expect to see benefits in the second
half from reductions in our PR, broker and staff costs, and from a recently
negotiated 30% reduction in IP costs. As usual, annual licence revenues from
SweetBiotix® are expected to be received in H2.
The Group secured the admission of its shares to the OTCQB Venture Market post
period. This is a low-cost approach to gradually increase our visibility to
the US investment community at a time when we are growing our brand presence
in the USA. Over time this is expected to improve share liquidity but is
anticipated only be material when the Group launches SweetBiotix and its
Microbiome Modulating products in the US market.
As directors and significant shareholders, the Board remains disappointed at
the current share price performance. Whilst some of this performance reflects
external factors, the Group remains focused on controlling costs, improving
margins, and delivering strong sales growth. The Board believes that achieving
these goals through innovative products, backed by higher customer ratings,
human studies and on-pack health claims in major global markets, is the best
way to build long-term shareholder value.
The Group has made strong financial progress in H1 2025 with sales growing at
more than double H1 2024 and at an improved margin. We anticipate continued
momentum in sales growth with the full year effect of 2024 launches, new and
existing partners launching new products in USA and Asia, e-commerce
continuing its growth trajectory with a new partner focusing on TMALL in
China, launch of products on Amazon India, and annual license revenues from
SweetBiotix occurring in H2 2025.
With tighter cost control, sales growing strongly, particularly in major
markets like China and India, and more recently the USA, with large partners,
and a significant breakthrough in SweetBiotix, the Board is confident that
OptiBiotix is a long way along the pathway to achieving profitability and an
increase in shareholder value.
N Davidson and S O'Hara
16 September 2025
OptiBiotix Health Plc
Consolidated Statement of Comprehensive Income
For the six months to 30 June 2025
6 months to 6 months to Year to
30 June 30 June 31 December 2024
2025 2024 Audited
Unaudited Unaudited
Continuing operations £'000 £'000 £'000
Revenue 557 276 870
Cost of sales (254) (165) (539)
─────── ─────── ───────
Gross Profit 303 111 331
Share based payments (486) - (47)
Depreciation and amortisation (102) (106) (209)
Other administrative costs (1,152) (1,071) (2,341)
─────── ─────── ───────
Administrative expenses (1,740) (1,177) (2,597)
─────── ─────── ───────
Operating loss (1,437) (1,066) (2,266)
Finance income - - 1
Share of loss from associate (51) (118) (350)
Loss on fair value of investments (142) (1,655) 486
Profit on disposal of investments 447 40 263
─────── ─────── ───────
Loss before Income tax (1,183) (2,799) (1,866)
Income tax 6 8 61
─────── ─────── ───────
Loss for the period (1,177) (2,791) (1,805)
Other Comprehensive Income - - -
─────── ─────── ───────
Total comprehensive income for the period (1,805)
(1,177) (2,791)
═══════ ═══════ ═══════
Total comprehensive income attributable to the owners of the group (1,805)
(1,177) (2,791)
Dividends - - -
─────── ─────── ───────
(1,177) (2,791) (1,805)
═══════ ═══════ ═══════
Loss per share
Basic - pence 4 (1.15) p (2.96) p (1.84) p
═══════ ═══════ ═══════
OptiBiotix Health Plc
Consolidated Statement of Financial Position
As at 30 June 2025
Notes As at As at As at
30 June 2025 30 June 2024 31 December 2024
Unaudited Unaudited Audited
ASSETS £'000 £'000 £'000
Non-current assets
Intangibles 1,015 1,225 1,117
Investments 5 3,611 2,182 4,049
Investment is associate 5 2,405 2,688 2,456
─────── ─────── ───────
7,031 6,095 7,622
─────── ─────── ───────
Current assets
Inventories 394 258 230
Trade and other receivables 407 393 433
Current tax asset 21 21 21
Cash and cash equivalents 1,299 1,263 739
─────── ─────── ───────
2,121 1,935 1,423
─────── ─────── ───────
TOTAL ASSETS 9,152 8,030 9,045
═══════ ═══════ ═══════
EQUITY
Shareholders' Equity
Called up share capital 6 2,067 1,959 1,959
Share premium 4,712 4,107 4,107
Share based payment reserve 733 772 247
Merger relief reserve 1,500 1,500 1,500
Retained Earnings (592) (973) 585
─────── ─────── ───────
Total Equity 8,420 7,365 8,398
─────── ─────── ───────
LIABILITIES
Current liabilities
Trade and other payables 460 313 368
─────── ─────── ───────
460 313 368
─────── ─────── ───────
Non - current liabilities
Deferred tax liability 272 352 279
─────── ─────── ───────
272 352 279
─────── ─────── ───────
TOTAL LIABILITIES 732 665 647
─────── ─────── ───────
TOTAL EQUITY AND LIABILITIES
9,152 8,030 9,045
═══════ ═══════ ═══════
OptiBiotix Health Plc
Consolidated Statement of Changes in Equity
For six months to 30 June 2025
Called up Share Share-based Merger Retained Earnings Total
Share premium Payment Relief Equity
Capital reserve Reserve
£'000 £'000 £'000 £'000 £'000 £'000
────── ────── ─────── ───── ────── ──────
Balance at 31 December 2023 1,824 2,958 772 1,500 1,818 8,872
Loss for the period - - - - (2,791) (2,791)
Issue of shares during the period 135 1,215 - - - 1,350
Fundraising commission - (66) - - - (66)
────── ────── ─────── ───── ────── ──────
Balance at 30 June 2024 1,959 4,107 772 1,500 (973) 7,365
Loss for the period - - - - 986 986
Movement on reserves - - (572) - 572 -
Share options and warrants - - 47 - - 47
────── ────── ────── ───── ────── ──────
Balance at 31 December 2024 1,959 4,107 247 1,500 585 8,398
Loss for the period - - - - (1,177) (1,177)
Issue of shares during the period 108 642 - - - 750
Fundraising commission - (37) - - - (37)
Share options and warrants - - 486 - - 486
────── ────── ────── ───── ────── ──────
Balance at 30 June 2025 2,067 4,712 733 1,500 (592) 8,420
══════ ══════ ══════ ═════ ══════ ══════
OptiBiotix Health Plc
Consolidated Statement of Cash Flows
For the six months to 30 June 2025
6 months to 6 months to Year to
30 June 30 June 31 December
2025 2024 2024
Unaudited Unaudited Audited
£'000 £'000 £'000
Reconciliation of loss before income tax to cash outflow from operations
Operating loss (1,437) (1,066) (2,266)
Increase in inventories (164) (70) (41)
Decrease in trade and other
receivables 26 67 31
Increase in trade and other
payables 92 133 184
Share Option expense 486 - 47
Amortisation of patents 102 106 209
Impairment of patents - - 4
────── ────── ──────
Net cash outflow from operations (895) (830) (1,832)
Tax Received - 85 64
────── ────── ──────
Net cash outflow from operating activities
(895) (745) (1,768)
Cash flows from investing activities
Proceeds on disposal of investments 742 89 587
────── ────── ──────
Net cash inflow from investing activities
742 89 587
────── ────── ──────
Cash flows from financing activities
Proceeds from issuance of shares 713 1,284 1,285
────── ────── ──────
Net cash inflow from financing activities
713 1,284 1,285
────── ────── ──────
Increase in cash and equivalents 560 628 104
Cash and cash equivalents at beginning of year
739 635 635
────── ────── ──────
Cash and cash equivalents at end of year 1,299 1,263 739
══════ ══════ ══════
OptiBiotix Health Plc
Notes to the Half Yearly Report
For the six months to 30 June 2025
1. General Information
Optibiotix Health Plc is a company incorporated and domiciled in England and
Wales. The company's registered office is in York. The company is listed on
the AIM market of the London Stock Exchange (ticker: OPTI) and on OTCQB in USA
(ticker: OPTIBF).
The financial information set out in this Half Yearly report does not
constitute statutory accounts as defined in Section 434 of the Companies Act
2006. The group's statutory financial statements for the period ended 31
December 2024, prepared under UK - adopted International Financial Reporting
Standards ("IFRS"), have been filed with the Registrar of Companies. The
auditor's report on those financial statements was unqualified and did not
contain statements under Sections 498(2) and 498 (3) of the Companies Act
2006.
Copies of the annual statutory accounts and the Half Yearly report can be
found on the Company's website at http://www.optibiotix.com/
(http://www.optibiotix.com/) .
2. Basis of preparation and significant accounting policies
This Half Yearly report has been prepared using the historical cost
convention, on a going concern basis and in accordance with UK - adopted
International Financial Reporting Standards ("IFRS") as adopted by the United
Kingdom.
The interim financial statements have been prepared in accordance with the
accounting policies set out in the Annual Report and Accounts for the year
ended 31 December 2024.
3. Segmental Reporting
In the opinion of the directors, the Group has one class of business, in six
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:
6 months to 6 months to Year to
30 June 30 June 31 December 2024
2025 2024 Audited
Unaudited Unaudited
£'000 £'000 £'000
Australia 107 8 9
China 41 76 133
India 114 - 171
Rest of world 36 15 53
United Kingdom / Europe 203 177 363
Unites States of America 56 - 141
─── ─── ───
557 276 870
═══ ═══ ═══
During the reporting period revenue from one customer represented £107k
(19.3%) of Group revenues (2024: Nil). In addition, revenue from a second
customer represented £101k (18.2%) of Group revenues. (H1 2024: NIL). H1
2024: one customer generated revenue of £51k representing 18.5% of Group
revenues.
4. 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:
6 months to
30 June 2025
Earnings Weighted average Loss per share
Number of shares
£'000 No. Pence
Basic EPS (loss) (1,177) 102,377,685 (1.15)
════ ═══════ ═══
6 months to
30 June 2024
Earnings Weighted average Loss per share
Number of shares
£'000 No. Pence
Basic EPS (loss) (2,791) 94,455,606 (2.96)
════ ══════ ═══
4. Earnings per share (continued)
Year to
31 December 2024
Earnings Weighted average Loss per share
Number of shares
£'000 No. Pence
Basic EPS (loss) (1,805) 97,902,046 (1.84)
════ ══════ ═══
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 period. The Group was loss making for
the periods ended 30 June 2024 and 30 June 2025; therefore, the dilutive
effect of share options has not been disclosed since this would decrease the
loss per share for each of the periods reported. As at 30 June 2025 there were
6,849,135 (H1 2024: 6,857,907) outstanding share options (H1 2024: Nil) and
2,678,571 outstanding warrants (H1 2024: Nil).
5. Investments
Available for sale investments
Carrying value £'000
At 31 December 2023 3,887
Disposal of shares (50)
Revaluations (1,655)
────
At 30 June 2024 2,182
Disposal of shares (274)
Revaluations 2,141
────
At 31 December 2024 4,049
Disposal of shares (296)
Revaluations (142)
────
At 30 June 2025 3,611
════
Investment in associates
Carrying value £'000
At 31 December 2023 2,806
Share of loss (118)
────
At 30 June 2024 2,688
Share of loss (232)
────
At 31 December 2024 2,456
Share of loss (51)
────
At 30 June 2025 2,405
════
Total value of investments at 30 June 6,016
2025
════
6. Share Capital
Issued share capital comprises:
Number of 2p
Ordinary Shares
Opening balance 1 January 2024 91,190,661
Share issue 6,752,500
────────
Closing balance at 30 June 2024 and 31 December 2024 97,943,161
Share issue 5,357,143
────────
Closing balance at 30 June 2025 103,300,304
════════
£'000
Opening balance 1 January 2024 1,824
Share issue 135
────
Closing balance at 30 June 2024 and 31 December 2024 1,959
Share issue 108
────
Closing balance at 30 June 2025 2,067
════
7. Post balance sheet events
On 6 August 2025, the Company granted 358,772 options over new ordinary shares
with an exercise price of 11 pence per share ("New Options") to Sofia Kolyda,
a Director of the Company.
The New Options expire on 6 August 2035 with 269,079 of the New Options
vesting on the first anniversary of the options being granted (being 6 August
2026) and the balance (comprising 89,693 New Options) vesting once the Company
signs a commercial agreement with a partner providing revenues equal to or
greater than £100k per annum for products containing SweetBiotix.
The issue of the New Options follows the expiration of 358,772 options over
new ordinary shares granted to Sofia Kolyda which expired in March 2025 of
which 75% had vested.
8. Director remuneration for the years to 31 December 2022 and 2023
Stephen O'Hara's annual salary, paid by the Group, was £212k to 31 March
2022, increased to £240k on 1 April 2022 and reduced by 20% to £192k on 1
January 2023. Before recharges to ProBiotix Health plc ("PBX"), his salary
was apportioned as £233K to 31 December 2022 and £192k to 31 December 2023.
Part of the cost of Stephen O'Hara was recharged to PBX. In 2022 this recharge
was £90k and in 2023 the recharge was £53.4k. These amounts appear in PBX's
accounts.
The balance, the Group's share of the cost of Stephen O'Hara, appears in the
directors' remuneration note in its accounts as £143k in 2022 and £138.6k in
2023.
This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
or visit
www.rns.com (http://www.rns.com/)
.
RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
. END IR SFIFWIEISEDURecent news on OptiBiotix Health
See all newsREG - OptiBiotix Health - Half-year Report
AnnouncementREG - OptiBiotix Health - Admission to Trading on the OTCQB Venture Market
AnnouncementREG - OptiBiotix Health - Agreement with Weight Management Company
AnnouncementREG - OptiBiotix Health - Launch of SlimBiome in leading US brand
AnnouncementREG - OptiBiotix Health - Result of AGM
Announcement