Document Prenetics Reports Record Q4 and FY 2025 Results IM8 Achieves $120M ARR 1 in 12 Months, Revenue Surges 480% YoY Total Revenue Increased 480% to $92.4 million for Full Year 2025, Q4 Revenue reached $36.6 million I

Prenetics Reports Record Q4 and FY 2025 Results IM8 Achieves $120M ARR1 in 12 Months, Revenue Surges 480% YoY

Total Revenue Increased 480% to $92.4 million for Full Year 2025, Q4 Revenue reached $36.6 million

IM8 Reaches $10 Million in Monthly Revenue in December 2025, Achieving $120M ARR Milestone

Strategic Transformation Completed with Divestitures and Focus on IM8

Total Adjusted Liquidity2 of Approximately $171 Million Following Sale of Insighta Stake to Tencent, with Zero Debt

Company to Host Earnings Call on February 18, 2026, at 10 00 a.m. ET and latest investor deck can be found at https ir.prenetics.com

NEW YORK, N.Y., February 18, 2026 - Prenetics Global Limited (NASDAQ PRE) ( Prenetics or the Company ), a leading consumer health sciences company and parent of the IM8 premium health and longevity brand, today announced financial results for fourth quarter and full year ended December 31, 2025.

The year 2025 marked a transformational milestone for Prenetics. Driven by the breakout performance of IM8, the Company delivered record financial results while completing a strategic transformation to streamline operations and focus on IM8. During the year and into 2026, Prenetics divested ACT Genomics in a transaction valued at up to approximately $72 million in cash (of which approximately $46 million are gross proceeds to Prenetics), sold the Europa distribution business for up to $13 million in all-stock consideration, and recently announced the sale of Prenetics' stake in Insighta to Tencent for $70 million in cash. These actions strengthened the balance sheet to approximately $171 million in total adjusted liquidity as of February 15, 2026, simplified the operating structure, and positioned the Company for accelerated global growth.

Full-year revenue surged approximately 480% year-over-year to $92.4 million. Fourth quarter revenue reached $36.6 million, representing a 55% quarter-over-quarter increase, reflecting the extraordinary momentum of IM8, the Company's flagship consumer health brand co-founded with David Beckham. IM8 achieved ARR of approximately $120 million as of December 2025 within just 12 months of launch, and contributed $60.1 million in revenue for FY2025.

IM8 A Breakout Global Brand

IM8 was the clear growth engine of Prenetics in 2025, demonstrating exceptional product-market fit, premium positioning, and strong customer loyalty.

From the end of Q3 to the end of Q4, IM8 monthly revenue grew by approximately 51%, reaching $10.0 million in December 2025 and officially surpassing $120 million in ARR-demonstrating one of the fastest trajectories ever recorded in the global supplement industry.

1 "ARR" refers to annualized recurring revenue, which the Company uses as a key operating metric and is calculated by multiplying the monthly revenue from the last month of a given period by 12.

2 Adjusted liquidity is a non-IFRS financial measure, comprising cash and cash equivalents of $99.3 million, financial assets at fair value through profit or loss (primarily comprising of fixed income funds) of approximately $29.3 million based on the most recent available valuation and subject to finalization as part of the ongoing annual audit, digital asset holdings valued at approximately $35.2 million, and portions of gross proceeds of the ACT Genomics sale and Insighta sale transactions held in escrow pending fulfillment of customary release conditions of $6.3 million and $1.0 million, respectively. Refer to the section titled "Unaudited Non-IFRS Financial Measures" elsewhere in this document.

IM8 - Key Performance Indicators

Gross margin for IM8 reduced to 60% in Q4 from 62% in Q3, impacted by freight and logistics costs due to the holiday period and higher costs associated with an increasing portion of international sales. The Company is targeting to maintain IM8 gross margins at approximately 60% in 2026.

Payback period for IM8 reduced to 3.5 months in Q4 from 3.9 months in Q3, primarily attributable to the introduction of quarterly subscription option starting in the U.S. market in December 2025, which was then further rolled out across all of our international markets in January 2026.

Global Diversification of IM8 Revenue

IM8's growth in 2025 was highly diversified across geographies, demonstrating strong global product-market fit and achieving $60.1 million in revenue for FY2025.

Top Five IM8 Markets (FY2025)

United States $23.8M (39.7%)

Canada $8.8M (14.7%)

United Kingdom $7.7M (12.8%)

Australia $3.2M (5.3%)

Singapore $2.4M (4.0%)

IM8 shipped to 30+ countries during the year, with over 60% of revenue generated outside the United States. This international momentum provides a strong foundation for continued global expansion in 2026.

FY2025 Unit Economics A Capital-Efficient Growth Engine

In its first full fiscal year of operations, IM8 established a highly efficient and scalable operating model

Blended average order value $110

Payback period 3.4 months

Day-1 CAC recovery 55%

Projected 24-month LTV CAC ratio 3x

These metrics reflect IM8's ability to rapidly recycle marketing capital while maintaining strong long-term customer value. Based on current cohort performance and modeled retention trends, IM8 is projected to achieve LTV CAC ratios above 3x across its product portfolio, including premium offerings such as the Beckham Stack.

Strategic Evolution to Quarterly Subscriptions - Driving Step-Change in Average Order Value

In January 2026, IM8 deliberately began driving a growing portion of new customers from monthly to quarterly subscription plans. This strategy is designed to enhance cash flow, improve logistics efficiency, and increase long-term customer value.

The impact of this transition has been substantial

FY2025 blended average order value $110

Q4 2025 blended average order value $133

January and February 2026 blended new average order value $233

This step-change in blended average order value reflects both the shift toward quarterly prepayments and increased adoption of higher-value product bundles such as the Beckham Stack.

Quarterly Subscription Mix - January and February 2026

Quarterly plans now represent a meaningful and growing portion of new customer mix across the IM8 product portfolio

Approximately half of Beckham Stack customers are choosing quarterly subscriptions

More than one-third of Essentials customers are opting for quarterly plans

Adoption of quarterly plans continues to accelerate across all SKUs, including Longevity

Key benefits of the quarterly model include

Higher upfront revenue and average order value Customers prepay for three months at a time

Improved cash recycling Faster payback and reduced working-capital needs

Lower fulfillment costs Improved per-unit logistics economics

Predictable renewals Auto-renewing every three months

The Company views the resulting increase in blended customer acquisition cost from a position of strength, as reflective of the Company's deliberate acquisition of higher-quality and longer-duration subscribers with materially higher lifetime value.

Strengthening the IM8 Ecosystem - Global Sports Partnerships

Building on the foundation of IM8 as a brand co-founded with David Beckham, Prenetics significantly expanded IM8's presence across global sports and performance communities in 2025 and early 2026.

In June 2025, Prenetics welcomed Aryna Sabalenka, World No. 1 tennis player and 4x Grand Slam champion, as a global ambassador and shareholder. Her involvement has accelerated IM8's brand awareness and credibility among elite athletes and health-conscious consumers worldwide.

In February 2026, the Company further strengthened this momentum by announcing Ollie Bearman, Formula 1 driver and one of the sport's most exciting rising stars, as a global ambassador and shareholder of Prenetics. His partnership reinforces IM8's positioning as a premium performance and recovery brand trusted at the highest levels of global sport.

Strategic Transformation into an IM8-Focused Platform

Throughout 2025 and into early 2026, Prenetics executed a deliberate strategy to streamline operations, strengthen the balance sheet, and focus the organization's resources on IM8 as its core growth engine.

Key milestones in this transformation included

The divestiture of ACT Genomics for up to approximately $72 million in cash (of which approximately $46 million are gross proceeds to Prenetics), reducing operational complexity and sharpening strategic focus

The sale of the Europa business for up to $13 million in stock, completed in January 2026

The final transformation was the sale of the Company's 35% equity interest in Insighta to Tencent for $70 million in cash, increasing total adjusted liquidity to approximately $171.1 million as of February 15, 2026. The below table provides a breakdown of our total adjusted liquidity as of February 15, 2026.

# Based on the most recent available valuation and subject to finalization in the ongoing annual audit

These actions have transformed Prenetics into a focused, higher-margin, and operationally agile organization centered around IM8, while maintaining CircleDNA as a complementary consumer health asset.

Danny Yeung, Chief Executive Officer and Co-Founder, commented "2025 was a defining year for Prenetics-one in which we proved both the strength and scalability of IM8's business model. In just twelve months, IM8 reached $120 million in annualized recurring revenue, an achievement that is virtually unprecedented in consumer health. This performance was powered by strong unit economics, a rapidly expanding global footprint, and deep customer engagement.

Our transition towards quarterly subscriptions has delivered a meaningful acceleration in performance, with new blended average order value reaching approximately $233 in 2026. This strategy strengthens cash flow, enhances customer lifetime value, and supports efficient scaling.

Importantly, we expect to approximately triple IM8 revenue in 2026 compared to 2025, while targeting an adjusted EBITDA loss broadly similar to 2024 and 2025. This demonstrates the operating leverage inherent in our model, and we see a clear path to achieving adjusted EBITDA profitability by the fourth quarter of 2027.

With the completed sale of our Insighta stake to Tencent, our total adjusted liquidity stands at approximately $171 million as of February 15, 2026, with zero debt. This provides substantial financial capacity to invest in IM8's next phase of global growth.

We are confidently reaffirming our 2026 IM8 revenue guidance of $180 million to $200 million, with a path toward $250 million to $300 million in ARR by the end of 2026. IM8 is rapidly becoming a global, category-defining health brand-and this is only the beginning."

Fourth Quarter 2025 Financial Highlights 3

Results for the fourth quarter ended December 31, 2025 are presented below in comparison to the same period in the prior year

Revenue $36.6 million (+457.1% YoY) (+55.2% QoQ)

Gross profit $21.7 million (+801.1% YoY)

Adjusted EBITDA loss4 $(2.3) million (70.4% YoY improvement)

Loss $(28.4) million

Total adjusted liquidity as of February 15, 20265 $171.1 million with no outstanding debt

The below table sets out our revenue and gross profit by business unit for the fourth quarter ended December 31, 2025

Total revenue for the fourth quarter ended December 31, 2025 surged 457.1% year-over-year to a record $36.6 million from $6.6 million in the fourth quarter of 2024, and increased 55.2% sequentially from $23.6 million in the third quarter of 2025. Gross profit grew more than eightfold year-over-year to $21.7 million, resulting in a consolidated gross margin of 59.5%. With the divestiture of the Europa 3PL business (i.e. Hubmatrix) completed in January 2026, the Company's blended gross margin profile is expected to improve in 2026.

Selling and marketing expenses were $16.1 million for the quarter ended December 31, 2025, compared to $1.6 million in the fourth quarter of 2024, reflecting the Company's significant investment in building IM8 into a global consumer brand and driving customer acquisition. As a percentage of total revenue, selling and marketing expenses were 44.0%, demonstrating the Company's confidence in deploying capital into high-return customer acquisition channels with proven unit economics.

Adjusted EBITDA loss for the fourth quarter ended December 31, 2025 improved by 70.4% year-over-year to $(2.3) million, compared to $(7.6) million in the fourth quarter of 2024. Despite the increase in selling and marketing expenses, the significant improvement in adjusted EBITDA loss demonstrates the increasing operating leverage of the business, as revenue scales significantly faster than operating expenses, underscoring the Company's commitment to disciplined growth and its clear path toward profitability.

Loss from continuing operations was $(28.4) million for the fourth quarter ended December 31, 2025. The loss was primarily attributable to several non-cash and non-recurring items related to the Company's strategic transformation. These included $8.2 million in impairment loss of goodwill related to the legacy Europa business, $9.7 million in unrealized fair value loss on digital asset holdings due to market price movements, and approximately $8.1 million in combined non-recurring expenses related to strategic transactions, disposal and realignment. After adjusting for these items, the underlying operational loss for the fourth quarter ended December 31, 2025 was approximately $2.3 million.

3 Unless otherwise specified, financial figures in this press release denotes results from continuing operations, which excludes our divested ACT Genomics business. Refer to the section titled "Basis of Presentation" for further details on the divestment of ACT Genomics and related IFRS Accounting Standards.

4 Adjusted EBITDA is a non-IFRS financial measure defined as loss for the period excluding (1) depreciation and amortization, (2) interest income, (3) other finance costs, (4) income tax expense (credit), (5) amortization of deferred expenses, (6) equity-settled share-based payment expenses, (7) non-recurring expenses related to acquisition, disposal and fundraising, (8) strategic realignment and discontinued products impact, (9) exchange gain or loss, net, (10) fair value loss on financial assets at fair value through profit or loss, (11) fair value loss (gain) on warrant liabilities, (12) unrealized fair value loss on digital asset, (13) share of loss of equity-accounted investees, net of tax, (14) impairment loss of goodwill, (15) gain on disposal of subsidiary, and (16) (profit) loss from discontinued operation, net of tax. These adjustments are made for items that may not be indicative of our business performance, including non-cash and or non-recurring items. Refer to the section titled "Unaudited Non-IFRS Financial Measures" elsewhere in this document. Also refer to "Reconciliation of loss for the year period under IFRS Accounting Standards and adjusted EBITDA (Non-IFRS)" at the end of this document for a reconciliation of adjusted EBITDA to loss for the year period, the most comparable IFRS Accounting Standards financial measure.

5 Refer to footnote 2.

Full Year 2025 Financial Highlights

Results for the year ended December 31, 2025 are presented below in comparison to the same period in the prior year

Revenue $92.4 million (+479.7% YoY)

Gross profit $48.9 million (+427.6% YoY)

Adjusted EBITDA loss $(13.0) million (27.2% YoY improvement)

Loss $(55.0) million

Net cash used in operating activities $(22.9) million

The below table sets out our revenue and gross profit by business unit for the year ended December 31, 2025

Total revenue for the year ended December 31, 2025 surged 479.7% year-over-year to a record $92.4 million, compared to $15.9 million in 2024. Gross profit increased 427.6% year-over-year to $48.9 million. The consolidated gross margin was 53.0%, reflecting the mix effect of the lower-margin Europa business. With the divestiture of the Europa business now complete, the Company's blended gross margin profile is expected to improve in 2026.

Selling and marketing expenses was $35.5 million in the year ended December 31, 2025, reflecting the Company's deliberate investment in marketing and customer acquisition to scale IM8 globally. As a percentage of total revenue, selling and marketing expenses were 38.5%, demonstrating the Company's ability to scale revenue at a significantly greater rate than marketing spend. As IM8 enters its next phase of international expansion in 2026, the Company expects this ratio to be in the range of 45% to 50% of revenue, and will continue to closely monitor this figure as a key indicator of marketing efficiency and return on investment.

Adjusted EBITDA loss improved 27.2% year-over-year to $(13.0) million in the year ended December 31, 2025, compared to $(17.9) million in 2024. This improvement was achieved despite the significant increase in marketing investment made to scale IM8 from near-zero to over $60 million in revenue, reflecting the capital efficiency of the IM8 business model and the Company's disciplined approach to growth.

Loss from continuing operations was $(55.0) million in the year ended December 31, 2025, compared to $(38.4) million in 2024. The year-over-year increase was primarily driven by non-cash and non-recurring items associated with the Company's strategic transformation, including $8.2 million in impairment loss of goodwill for Europa, $9.7 million in unrealized fair value loss on digital asset holdings due to market price movements, $8.0 million in non-recurring expenses related to disposal and fundraising, $3.8 million of strategic realignment and restructuring expenses, and $6.4 million in equity-settled share-based payment expenses. Excluding these non-cash and or non-recurring items, the underlying operational loss for the year ended December 31, 2025 was approximately $13.0 million, equivalent to the adjusted EBITDA loss for the same period.

Net cash used in operating activities was $(22.9) million for the year ended December 31, 2025, compared to $(28.9) million in 2024, representing a 20.7% year-over-year improvement. The operating cash outflow primarily reflects the Company's investment in scaling IM8, inventory build-up to support rapid revenue growth, working capital requirements associated with expanding into new international markets, and one-off costs such as strategic realignment and restructuring.