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(Sharecast News) - SkinBioTherapeutics said in an update on Thursday that revenue for the year ended 30 June were expected to rise almost fourfold to between 4.5m and 4.8m, driven by a full-year contribution from Dermatonics, eight months from Bio-Tech Solutions (BTS), and continued organic growth in AxisBiotix sales.
The AIM-traded company said revenue was slightly below market expectations, however, due to the timing of orders for Dermatonics and BTS, with many received just after year-end.
Its adjusted EBITDA loss was expected to narrow sharply to between 0.2m and 0.4m from a 2.2m loss last year, reflecting tight cost control.
Year-end cash was 4.8m, ahead of expectations, boosted by a 4.2m placing and retail offer in June to support the upcoming AxisBiotix launch in Superdrug stores this autumn.
Post year-end, the company reported strong July trading, particularly at BTS, and said preparations for the Superdrug launch remained on track.
"The past 12 months have marked a distinct change in the operations of the Company, driven by two acquisitions, the launch of Zenakine by Croda and the signing of a significant commercial deal with Superdrug," said chief executive Stuart Ashman.
"Financially, we are also in a very different place, achieving around four times the revenues relative to 2024, nearing profitability and have a strong cash balance.
"We strongly believe that the increased interest by consumers and the marketplace in the role of the microbiome on our skin health means that we are very well placed to scale rapidly and achieve significant value for shareholders."
At 1419 BST, shares in SkinBioTherapeutics were down 8.94% at 14p.
Reporting by Josh White for Sharecast.com.
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