Prenetics Global reported second-quarter revenue of $46.5 million, narrowly missing analyst expectations but within its guidance range of $46–48 million. The company’s IM8 wellness supplement brand generated $45 million in revenue for the quarter, a 33% increase from the prior quarter and a 4.6-fold rise year-over-year, according to materials released on August 18, 2026.
The company achieved positive adjusted free cash flow for the first time in July 2026, describing the month as the strongest in its history. Monthly revenue reached $20.9 million, implying an annualized run rate of approximately $251 million. Adjusted earnings per share came in at a loss of $0.53, beating expectations of a $0.71 loss. Shares of Prenetics, listed on NASDAQ under the ticker PRE, declined 4.29% to $18.54 following the release.
IM8’s gross margin expanded to roughly 65% in Q2 2026, up from 57% a year earlier, while its contribution margin rose to 46% of revenue. The brand added 118,493 new customers in the quarter, a 98% increase from Q1, bringing total active subscriptions to over 140,000. Customer acquisition cost remained flat at $301 in Q2, though it fell to $239 in July while acquiring 47,373 new customers. Approximately 87% of revenue now comes from recurring subscriptions, with 76% of new customers opting for subscription plans.
Prenetics raised its full-year 2026 revenue guidance to $220–230 million, with IM8 expected to contribute $215–222 million. The company projects FY2027 revenue to exceed $400 million. Adjusted EBITDA loss widened to $19.0 million in Q2 from $5.6 million in Q1 due to increased marketing investment, with second-half 2026 losses projected at $8–12 million.
A $1 billion non-dilutive financing partnership with General Catalyst’s Customer Value Fund provides up to 70% coverage of acquisition marketing spend on a cohort-matched basis. Management cited the partnership as offering "a capital advantage no other premium supplement brand can match." The deal is structured with a blended payback rate of 4.7% to 7.6%, ranging from 3.5% for three-month paybacks to 17% for paybacks exceeding 25 months.
IM8’s average transaction value reached $181 in July, compared with $100 for AG1, $83 for Grüns, and $71 for Thorne. The Beckham-branded product stack is priced at $208 monthly or $548 quarterly. Management noted that David Beckham’s royalty stepped down to 3.5% of revenue after IM8 surpassed $100 million in cumulative revenue in Q2.
The company plans to launch IM8 Hydration in Q4 2026, IM8 Gummies in Q1 2027, and IM8 Creatine in Q2 2027. Clinical trial results are expected by Q1 2027, with management emphasizing the rarity of randomized controlled trial-grade clinical evidence in the supplements industry as a key competitive moat.
