AUS
NZ
UK
CA
USA
IND
Highlights
- Revenue growth of 23% to $48.5 million in HY24
- Net profit of $3.55 million, a significant turnaround from a loss
- Strong international performance, led by the USA, China, and other global
Bubs Australia (ASX:BUB) has delivered a strong financial performance for the half-year ended December 2024, reporting a 23% increase in revenue to $48.5 million, up from $39.4 million in the previous corresponding period. The company recorded a net profit after tax of $3.55 million, a remarkable turnaround from a $7.67 million loss in the previous year.
Expansion Fuels Growth
The robust growth was primarily driven by rising demand in key international markets, including the United States, China, and other global regions. The company's infant formula segment remained the biggest contributor, generating $41.8 million in revenue—a 41% increase compared to the previous period. This segment alone accounted for 86% of the company’s total revenue.
Bubs successfully completed the rollout of new product variants in the US, ensuring compliance with local regulatory requirements. The company remains optimistic about securing FDA regulatory approval for permanent access to the US market, which is anticipated in October this year.
Regional Performance Breakdown
The United States was the standout performer, with revenue growing 28% to $23.2 million, making up 48% of the company’s total revenue. In China, revenue surged 45% to $10.2 million, highlighting the brand’s increasing presence in the region. The Rest of World segment experienced the most substantial percentage growth, climbing 85% to $4.6 million. Meanwhile, the company’s Australian market generated $10.5 million in revenue, maintaining a 55% market share in the goat infant milk formula category.
Future Outlook
Bubs continues to strengthen its global market presence, leveraging strategic expansions, regulatory compliance, and strong brand recognition. The upcoming FDA approval decision could play a pivotal role in further solidifying its position in the US infant formula market. With growing consumer demand across multiple regions, the company is well-positioned for continued momentum in the upcoming financial periods.
