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A reminder of the stated aim for each B/U to be profitable at least on a month by month basis by end 2023; From 2023 Aug Commercial Update; “Stephen O'Hara, CEO of OptiBiotix Health plc said: "We are making good progress on our aims of getting existing partners returning to forecast, bringing in new partners, particularly in the USA and Asia, and expanding e-commerce channels to grow online sales and reduce partner dependency. This is all part of plans for each business unit (USA, India, Ecommerce, B2B) to reach operational profitability, at least on a monthly basis by the end of the calendar year.”
So at the very least we should have been provided with the position for each B/U but we were only told about one B/U, e-commerce "E-commerce sales for 2023 were 287% up on 2022 driven by strong growth in China of gummies and large increases in Amazon Prime subscriptions. This progress led the consumer health business to profitability in October and November 2023". We know the first meaningful US order slipped into 2024 so probably mainly the royalty payment from the US partner circa £85K in 2023 for sweetbiotix. Any H&B and THG sales percentage increases are coming off a very low base, 2022 figures with a rough guess of how much to reduce regional sales for to allow for PBX sales inclusion are as follows;
Probiotix £24,000.00
Functional Fibres £433,000.00
TOTAL £457,000.00
Functional fibres by Region
UK (minus est £5000 PBX sales) £127,000.00
India £61,000.00
ROW (minus est £4000 pbx sales) £160,000.00
US (minus est £15000 PBX sales) £85,000.00
TOTAL £433,000.00
On the plus side, and it is a big plus, 2024 looks to be much healthier and the launch of sweetbiotix will be a game changer
The last paragraph on Forward Looking Statements is a particularly strong get out of gaol free but necessary statement
Classic SOH, percentages hiding actual revenue, or god forbid, profit numbers and full to the brim with if, buts and maybes. You gotta laugh.
Skid35,
OPTI could report sales numbers for the whole corp for 2023 like normal companies do in the Jan / Feb trading updates. Instead its 2 pages of inconsistent information.
Bean - as partners are named I expect that there are confidentiality cause preventing absolute £ being stated. The % measure as you state is deliberately and contractually necessarily ambiguous.
Overall a positive update i) does appear they are getting traction and ramping ii) although an old codger myself does appear that their marketing is now more relevant using social media channels iii) Sweet a complete game changer - any concrete news will have this 3-4x.
Davey
The new part time CFO at Opti needs to step up.
Providing an overall unaudited revenue number for year would be a very useful addition to this word salad of random percentage increases, indications of monthly revenue of £20,000 to £50,000 per month in China Ecoomerce and stock taken of £417,000.
Reading between the lines it looks like revenue and gross margins will be up but by how much and what to - I couldn’t begin to make an estimate and that is poor.
Many of the UKs largest groups and all the major banks have published their full audited Dec 2023 results and yet Opti can’t tell us unaudited revenue.
Did i read it right 100 000 tonnes?
Stevia sells at 45-50K a tonne so even 1% royalty would be MASSIVE ???
Lets see
How refreshing to see somebody else say the same. I read the RNS a few times and they waffle on about how sales are up a massive % but do not mention any numbers, that always means they are still tiny and the company is still losing loads of money but it has the desired effect, price is up and people pile in. Blimey if they announce the actual numbers and said they made a profit the price would have probably collapsed knowing how stupid this market is now.
Finally a positive RNS with some meat on the bone. I’ve been watching a while and finally bought an initial first tranche.
Eh, I saw numbers. Both % rises, dollar amounts and tonnage
Basically no hard numbers at all in the RNS, just mambo jambo..
Yes that last paragraph about the potential >100,000 tonnes of Sweetbiotix is massive. £3b?
I'm a sucker for a SOH RNS. Caused much resentment on the way down to the single figures but I like the look of this one.
In terms of marketing, they really seemed to have sorted themselves out.
Those numbers for SWEET look huge but I await some of the much better informed posters to point out the detail in all this.
Some strong and positive messages in this RNS
SOH seems to have turned the first products business around and appear to be on cusp of something major with 2nd generation products
Sweetbiotix looks a potential game changer if they can get it formally launched
Thank his I’m in this share with someone competent in charge and not sbtx.
Website also updated as at 16 Feb 2024 (late as usual and not in accordance with aim rules - nevermind tis opti - though also probably not a rare occurrence on the wonderful world of aim companies)
Previously 27 June 2023 Finance Yorkshire Seedcorn Fund 9,449,314 10.36%
Now 16 February 2024 Finance Yorkshire Seedcorn Fund 7,088,314 7.77%
the above number agrees with holding noted on rns 19 Oct 2023 (albeit previous % noted as 9.74 and not 10.36) so presumably c568,000 sold between June and Oct
No change otherwise re Directors albeit S Hammond now not listed
mol
Just trolling around and feeling self ritious (sic) this evening
and noticed at least now on website
https://optibiotix.online/collections/snack-smart/products/snacksmart-soups
mol
DireCons - unless the messenger’s Tee Dubbya of course.
To be fair PJ was only relaying what was said on the Tee Dubbya site. Don't shoot the messenger?
I'm calling absolute bull on that.
Laughable in fact and one of the reasons why I haven't used that board for years
Ah remember PJ1 from the guild, liked his input. Assume this is a guild post.
Sounds scaremongering to me
what follows is taken from poster, pj1 on advfn. apparently referencing a note from *************/tw. i don't subscribe to tw so i have no idea of the exact wording.
"************* now dropping out the possibility of insolvency unless opti steps in at 4 to 5p"
as i say, no idea if this is what was said, nor what the wording may have been. or indeed the context. scaremongering? thinking aloud?
Traced the original agreement with CII back to December 2017. That's a long time with not much to show for.
Oops should be PBX board
apologies
mol
No not us per se but seed in at no 4 according to Success magazine
Most Innovative Company in Health & Wellness
4. Seed Health Inc.
Who they are: Seed is a direct-to-consumer, research-backed probiotic company whose products are available for a monthly subscription fee of $49.99.
How they innovate: The company believes “the science of probiotics demands a new standard.” Currently, the company offers just two consumer products; however, the science and testing that go into their products is anything but limited. Based on robust clinical research, it collects probiotic strains and puts them to the test in a high-tech simulator known as SHIME®, which mimics biological conditions from stomach to colon. Formula information and testing data are transparent and accessible, and its scientific board includes researchers from the National Institutes of Health’s Human Microbiome Project.
Financials: Seed is a privately held company; revenue and earnings are not publicly available. According to WWD, the company raised $40 million in Series A funding in 2021.
Impact: Seed’s combination of scientific rigor, social impact work and award-winning product design, plus a subscription model that eliminates the overhead of brick-and-mortar retail, make it a standout in an otherwise overcrowded and underregulated supplements industry.
https://www.success.com/most-innovative-companies-2024/
mol