Prenetics Global (NASDAQ:PRE) said its first-quarter results reflected the company’s shift away from diagnostics and genome testing toward a subscription-driven consumer health model anchored by its IM8 supplement brand.
Chief Executive Officer and Co-Founder Danny Yeung told investors that IM8, launched 17 months ago with one product and no revenue, is now shipping to 43 countries and delivering about 150,000 servings per day. He said IM8’s May monthly revenue is tracking at about $15.5 million, implying roughly $186 million in annualized recurring revenue.
