EX-99.1 2 d421728dex991.htm EX-99.1 EX-99.1

Exhibit 99.1

 

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Prenetics Announces Record Third Quarter 2022 Financial Results and

Raises Full Year 2022 Revenue and EBITDA Guidance

LONDON AND HONG KONG, November 10, 2022 – Prenetics Global Limited (NASDAQ: PRE) (“Prenetics” or the “Company”), a global leader in genomic and diagnostic testing, today announced its unaudited financial results for the third quarter ended September 30, 2022.

Third Quarter 2022 and Recent Highlights:

 

   

Reported third quarter 2022 revenue of US$80 million

 

   

Reported loss from operations of US$9 million, adjusted earnings1 of US$21 million and adjusted EBITDA2 of US$27 million in the third quarter

 

   

Achieved gross margin of 59% in the third quarter

 

   

Appointed Professor Robert Harris, founder and former CEO of Lakeside Healthcare Group, one of UK’s largest GP practices, as Executive Chairman of Prenetics EMEA

 

   

Ended the third quarter with cash and other short-term assets3 of approximately US$250 million

 

   

Obtained HSBC banking facilities of US$50 million for general corporate purposes and liquidity for potential acquisitions, demonstrating confidence from financial institutions

Danny Yeung, Chief Executive Officer and Co-founder of Prenetics, said I’m very proud of our strong results, demonstrating our continued growth, and reflecting the success we’ve had in performing over 26 million COVID-19 laboratory and at-home tests to date. Looking ahead, we expect to see continued demand in COVID testing to drive near term revenues. I’m also very excited to see our global clinical strategy taking shape, as we launch more tests into more clinics. As part of our UK restructuring, we’ve recently added Professor Robert Harris as our Executive Chairman for Prenetics EMEA. We are thrilled to be able to leverage his knowledge and experience as a co-founder and former CEO of Lakeside Healthcare Group, which he grew into one of the largest GP practices in the UK. We believe with the addition of Prof. Harris and our new UK strategy, we aim to provide clinical care to 1 million people by 2025. Lastly, we are now in final discussions for multiple acquisitions in the area of clinical cancer genomics, virtual care and primary care clinics which we believe would be highly synergistic and accretive to Prenetics as we continue on our mission to build an end to end health ecosystem. I look forward to providing key updates in the coming months.

Professor Robert Harris, Executive Chairman of Prenetics EMEA, added “I am thrilled to join Prenetics as they continue to scale the business and approach exciting roll-up opportunities. Having previously built one of the UK’s largest GP practices, managing hundreds and thousands of patients, I’m impressed by Prenetics’ suite of preventive and diagnostic tests, and their goal of providing a greater level of care to patients.”

Financial Guidance

Prenetics provides guidance based on current market conditions and expectations for revenue and adjusted EBITDA, which is a non-IFRS financial measure.

For full year 2022, Prenetics raises revenue guidance to the range of US$270 million to US$280 million and raises full year adjusted EBITDA guidance to the range of US$47 million to US$53 million.

 

 

1 

Adjusted Profit (non-IFRS) represents (loss)/profit from operations under IFRS before equity-settled share-based payment expenses, other strategic financing, restructuring costs in relation to UK and diagnostic business, transactional expense and non-recurring expense and fair value adjustments. See the section titled “Unaudited Financial Information and Non-IFRS Financial Measures” and the table captioned “Reconciliation of Loss attributable to equity shareholders of Prenetics under IFRS and Adjusted profit for the period (Non-IFRS)” for more details.

2 

Adjusted EBITDA (non-IFRS) represents (loss)/profit from operations under IFRS before equity-settled share-based payment expenses, depreciation and amortization, other strategic financing, restructuring costs in relation to UK and diagnostic business, transactional expense and non-recurring expense, and finance income, exchange gain or loss. See the section titled “Unaudited Financial Information and Non-IFRS Financial Measures” and the table captioned “Reconciliation of (Loss)/Profit from Operations under IFRS and Adjusted EBITDA (Non-IFRS)” for more details.

3 

Represents current assets, comprising cash and cash equivalents, short-term financial assets, trade receivables, deposits, prepayments and other receivables, deferred expenses and inventory.


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About Prenetics

Founded in 2014, Prenetics is a major global diagnostics and genetic testing company with the mission to bring health closer to millions of people globally and decentralize healthcare by making the three pillars — Prevention, Diagnostics and Personalized Care — comprehensive and accessible to anyone, at anytime and anywhere. Prenetics is led by visionary entrepreneur, Danny Yeung, with operations across 9 locations, including United Kingdom, Hong Kong, India, South Africa, and Southeast Asia. Prenetics develops consumer genetic testing and early colorectal cancer screening; and provides COVID-19 testing, rapid point of care and at-home diagnostic testing and medical genetic testing. To learn more about Prenetics, visit www.prenetics.com.

Enquires:

 

Investors:      
investors@prenetics.com      

 

Media:

     
Strategic Public Relations Group      

Vicky Lee

  

+852 2864 4834

  

Email: vicky.lee@sprg.com.hk

Corinne Ho

  

+852 2114 4911

  

Email: corinne.ho@sprg.com.hk

Holly Szeto

  

+852 2864 4853

  

Email: holly.szeto@sprg.com.hk

www.sprg.com.hk

     

Forward-Looking Statements

This document contains forward-looking statements within the meaning of Section 27A of the Securities Act and Section 21E of the Exchange Act that are based on beliefs and assumptions and on information currently available to Prenetics, and also contains certain financial forecasts and projections.

All statements other than statements of historical fact contained in this document, including, but not limited to, statements about Prenetics’ future results of operations and financial position, plans for new product development and geographic expansion, objectives of management for future operations, projections of market opportunity and revenue growth, competitive position, and technological and market trends, are forward-looking statements. In some cases, you can identify forward-looking statements by the following words: “may,” “will,” “could,” “would,” “should,” “expect,” “intend,” “plan,” “anticipate,” “believe,” “estimate,” “predict,” “project,” “potential,” “continue,” “ongoing,” “target,” “seek” or the negative or plural of these words, or other similar expressions that are predictions or indicate future events or prospects, although not all forward-looking statements contain these words. These statements are based upon estimates and forecasts and reflect the views, assumptions, expectations, and opinions of Prenetics, which involve inherent risks, uncertainties and other factors that may cause actual results, levels of activity, performance or achievements to be materially different from those expressed or implied by these forward-looking statements. Any such estimates, assumptions, expectations, forecasts, views or opinions, whether or not identified in this document, should be regarded as indicative, preliminary and for illustrative purposes only and should not be relied upon as being necessarily indicative of future results. A number of risks and uncertainties could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to: changes in applicable laws or regulations applicable to Prenetics; developments related to the COVID-19 pandemic; the regulatory environment and changes in laws, regulations or policies in which Prenetics operate; Prenetics’ ability to successfully compete in highly competitive industries and markets; Prenetics’ ability to continue to adjust its offerings to meet market demand; Prenetics’ ability to attract customers to choose its products and services and grow its ecosystem; political instability in the jurisdictions in which Prenetics operates; the overall economic environment and general market and economic conditions in the jurisdiction in which Prenetics operates; and Prenetics’ ability to execute its strategies, manage growth and maintain its corporate culture as it grows. In addition to the foregoing factors, you should also carefully consider the other risks and uncertainties included in Prenetics’ filings with the U.S. Securities and Exchange Commission (the “SEC”) from time to time.


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Forward-looking statements speak only as of the date they are made. Prenetics does not undertake any obligation to update any forward-looking statement, whether as a result of new information, future developments, or otherwise, except as required under applicable law.


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Website

Prenetics intends to use its website as a distribution channel of material company information. Financial and other important information regarding the Company is routinely posted on and accessible through the Company’s website at https://www.prenetics.com/. Accordingly, we recommend you to monitor the investor relations portion of our website at https://ir.prenetics.com/ in addition to following our press releases, SEC filings, and public conference calls and webcasts. In addition, you may automatically receive email alerts and other information about the Company when you enroll your email address by visiting the “Request Email Alerts” section of our investor relations page at https://ir.prenetics.com/. However, the additional information contained on our website is not part of our SEC filings.

Basis of Presentation

Unaudited Financial Information and Non-IFRS Financial Measures has been provided in the financial statements tables included at the end of this press release. An explanation of these measures is also included below under the heading “Unaudited Financial Information and Non-IFRS Financial Measures.”

Unaudited Financial Information and Non-IFRS Financial Measures

To supplement Prenetics’ consolidated financial statements prepared in accordance with International Financial Reporting Standards (“IFRS”), the Company is providing non-IFRS measures, adjusted EBITDA, adjusted gross profit and adjusted profit for the period. These non-IFRS financial measures are not based on any standardized methodology prescribed by IFRS and are not necessarily comparable to similarly-titled measures presented by other companies. Management believes these non-IFRS financial measures are useful to investors in evaluating the Company’s ongoing operating results and trends.

Management is excluding from some or all of its non-IFRS operating results (1) Equity-settled share-based payment expenses, (2) depreciation and amortization, (3) finance income and exchange gain or loss, and (4) other discretionary items determined by management. These non-IFRS financial measures are limited in value because they exclude certain items that may have a material impact on the reported financial results. Management accounts for this limitation by analyzing results on an IFRS basis as well as a non-IFRS basis and also by providing IFRS measures in the Company’s public disclosures.

In addition, other companies, including companies in the same industry, may not use the same non-IFRS measures or may calculate these metrics in a different manner than management or may use other financial measures to evaluate their performance, all of which could reduce the usefulness of these non-IFRS measures as comparative measures. Because of these limitations, the Company’s non-IFRS financial measures should not be considered in isolation from, or as a substitute for, financial information prepared in accordance with IFRS. Investors are encouraged to review the non-IFRS reconciliations provided in the tables captioned “Reconciliation of (Loss)/Profit from Operations under IFRS and Adjusted EBITDA (Non-IFRS)”, “Reconciliation of Gross Profit under IFRS and Adjusted Gross Profit (Non-IFRS)” and “Reconciliation of Loss attributable to equity shareholders of Prenetics under IFRS and Adjusted Profit for the period (Non-IFRS)” set forth at the end of this document.


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PRENETICS GLOBAL LIMITED

Unaudited consolidated statements of financial position

(Expressed in United States dollars unless otherwise indicated)

 

    

September 30,

2022

    $

    

June 30,

2022

    $

    

December 31,

2021

    $

 

Assets

        

Property, plant and equipment

     10,974,095        12,863,570        13,037,192  

Intangible assets

     800,422        21,675,333        23,826,282  

Goodwill

     —          3,538,599        3,978,065  

Deferred tax assets

     7,696        4,983        79,702  

Deferred expenses

     7,393,072        8,538,212        —    

Other non-current assets

     334,524        449,651        693,548  
  

 

 

    

 

 

    

 

 

 

Non-current assets

     19,509,809        47,070,348        41,614,789  
  

 

 

    

 

 

    

 

 

 

Inventories

     8,210,825        11,296,467        6,829,226  

Trade receivables

     61,076,651        42,634,854        47,041,538  

Deferred expenses

     4,535,245        4,553,370        —    

Deposits, prepayments and other receivables

     6,356,168        11,563,328        7,817,756  

Amounts due from related companies

     —          —          9,060  

Financial assets at fair value through profit or loss

     25,226,919        26,746,657        9,906,000  

Cash and cash equivalents

     144,686,487        134,379,603        35,288,952  
  

 

 

    

 

 

    

 

 

 

Current assets

     250,092,295        231,174,279        106,892,532  
  

 

 

    

 

 

    

 

 

 

Total assets

     269,602,104        278,244,627        148,507,321  
  

 

 

    

 

 

    

 

 

 

Liabilities

        

Deferred tax liabilities

     224,189        596,151        659,498  

Preference shares liabilities

     —          —          486,404,770  

Warrant liabilities

     10,073,250        8,311,000        —    

Lease liabilities

     2,488,780        3,066,826        3,600,232  
  

 

 

    

 

 

    

 

 

 

Non-current liabilities

     12,786,219        11,973,977        490,664,500  
  

 

 

    

 

 

    

 

 

 

Trade payables

     9,077,855        8,571,871        9,979,726  

Accrued expenses and other current liabilities

     16,395,020        14,735,987        36,280,298  

Contract liabilities

     5,579,759        9,762,974        9,587,245  

Lease liabilities

     1,857,982        1,874,093        1,666,978  

Trade financing

     9,741,503        9,201,820        —    

Tax payable

     6,894,415        3,121,962        1,223,487  
  

 

 

    

 

 

    

 

 

 

Current liabilities

     49,546,534        47,268,707        58,737,734  
  

 

 

    

 

 

    

 

 

 

Total liabilities

     62,332,753        59,242,684        549,402,234  
  

 

 

    

 

 

    

 

 

 


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PRENETICS GLOBAL LIMITED

Unaudited consolidated statements of financial position

(Expressed in United States dollars unless otherwise indicated)

 

    

September 30,

2022

$

   

June 30,

2022

$

   

December 31,

2021

$

 

Equity

      

Share capital (US$0.0001 par value, 500,000,000 shares authorized and 110,979,347 shares issued (June 30, 2022: US$0.0001 par value, 500,000,000 shares authorized and 110,979,347 shares issued; December 31, 2021: US$0.0001 par value, 500,000,000 shares authorized and 14,932,033 shares issued))

     11,098       11,098       1,493  

Reserves

     207,343,283       219,075,867       (400,811,431
  

 

 

   

 

 

   

 

 

 

Total equity/(equity deficiency) attributable to equity shareholders of the Company

     207,354,381       219,086,965       (400,809,938

Non-controlling interests

     (85,030     (85,022     (84,975
  

 

 

   

 

 

   

 

 

 

Total equity/(equity deficiency)

     207,269,351       219,001,943       (400,894,913
  

 

 

   

 

 

   

 

 

 

Total equity and liabilities

     269,602,104       278,244,627       148,507,321  
  

 

 

   

 

 

   

 

 

 


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PRENETICS GLOBAL LIMITED

Unaudited consolidated statements of profit or loss and other comprehensive income

(Expressed in United States dollars unless otherwise indicated)

 

     For the nine months ended  
    

September 30,

2022

$

   

September 30,

2021

$

 

Revenue

     223,440,544       211,136,492  

Direct costs

     (118,888,842     (128,770,734
  

 

 

   

 

 

 

Gross profit

     104,551,702       82,365,758  

Other income and other net (losses)/gains

     (744,692     199,305  

Selling and distribution expenses (included equity-settled share-based payment expenses of $106,909 (2021: $15,624))

     (10,798,052     (11,575,835

Research and development expenses (included equity-settled share-based payment expenses of $3,857,617 (2021: $2,723,370))

     (11,913,427     (5,104,080

Restructuring costs in relation to UK and diagnostic business

    

- Impairment losses on intangible assets

     (19,109,580     —    

- Impairment losses on goodwill

     (3,272,253     —    

- Impairment losses on property, plant and equipment

     (1,738,467     —    

- Write-off of prepayment

     (3,549,298     —    

Administrative and other operating expenses (included equity-settled share-based payment expenses of $24,172,462 (2021: $9,926,392))

     (81,359,051     (45,349,553
  

 

 

   

 

 

 

(Loss)/profit from operations

     (27,933,118     20,535,595  

Fair value loss on financial assets at fair value through profit or loss

     (1,674,184     —    

Share-based payment on listing4

     (89,546,601     —    

Fair value loss on convertible securities

     —         (29,054,669

Fair value loss on preference shares liabilities

     (60,091,353     (71,885,207

Fair value loss on warrant liabilities

     (3,301,827     —    

Write-off on amount due from a shareholder

     —         (106,179

Gain on bargain purchase

     —         117,238  

Other finance costs

     (4,082,155     (2,775,251
  

 

 

   

 

 

 

Loss before taxation

     (186,629,238     (83,168,473

Income tax expense

     (5,432,092     (5,105,364
  

 

 

   

 

 

 

Loss for the period

     (192,061,330     (88,273,837
  

 

 

   

 

 

 

Other comprehensive income for the period

    

Item that may be reclassified subsequently to profit or loss:

    

Exchange difference on translation of:

    

- financial statements of subsidiaries and a joint venture outside Hong Kong

     (7,602,604     (1,006,600
  

 

 

   

 

 

 

Total comprehensive income for the period

     (199,663,934     (89,280,437
  

 

 

   

 

 

 

Loss attributable to:

    

Equity shareholders of Prenetics

     (192,061,275     (88,266,295

Non-controlling interests

     (55  

 

(7,542

  

 

 

   

 

 

 
     (192,061,330     (88,273,837
  

 

 

   

 

 

 

 

 

4 

The acquisition of the net assets of Artisan Acquisition Corp. (“Artisan”) on May 18, 2022 does not meet the definition of a business under IFRS and has therefore been accounted for as a share-based payment. The excess of fair value of Prenetics shares issued over the fair value of Artisan’s identifiable net assets acquired represents compensation for the service of a stock exchange listing for its shares and is expensed as incurred.


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PRENETICS GLOBAL LIMITED

Unaudited consolidated statements of profit or loss and other comprehensive income

(Expressed in United States dollars unless otherwise indicated)

 

     For the nine months ended  
    

September 30,

2022

   

September 30,

2021

 
     $     $  

Total comprehensive income attributable to:

    

Equity shareholders of Prenetics

     (199,663,879     (89,272,895

Non-controlling interests

     (55     (7,542
  

 

 

   

 

 

 
     (199,663,934)       (89,280,437)  
  

 

 

   

 

 

 

Loss per share

    

Basic loss per share

     (2.73)       (2.90)  

Diluted loss per share

     (2.73)       (2.90)  

Weighted average number of common shares:

    

Basic

     70,371,679       30,396,578  

Diluted

     70,371,679       30,396,578  


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PRENETICS GLOBAL LIMITED

Unaudited consolidated statements of profit or loss and other comprehensive income

(Expressed in United States dollars unless otherwise indicated)

 

     For the three months ended  
    

September 30,

2022

   

June 30,

2022

   

September 30,

2021

 
         $         $         $  

Revenue

     79,680,227       51,716,268       74,659,012  

Direct costs

     (32,861,283     (30,021,343     (48,919,345
  

 

 

   

 

 

   

 

 

 

Gross profit

     46,818,944       21,694,925       25,739,667  

Other income and other net losses

     (159,353     (556,328     (156,738

Selling and distribution expenses (included equity-settled share-based payment expenses of $67,267 (June 30, 2022: $30,150; September 30, 2021: $9,771))

     (2,395,630     (3,119,276     (5,292,592

Research and development expenses (included equity-settled share-based payment expenses of $960,298 (June 30, 2022: $1,647,701; September 30, 2021: $2,024,342))

     (3,248,693     (4,843,244     (2,170,589

Restructuring costs in relation to UK and diagnostic business

      

- Impairment losses on intangible assets

     (19,109,580     —         —    

- Impairment losses on goodwill

     (3,272,253     —         —    

- Impairment losses on property, plant and equipment

     (1,738,467     —         —    

- Write-off of prepayment

     (3,549,298     —         —    

Administrative and other operating expenses (included equity-settled share-based payment expenses in $4,959,298 (June 30, 2022: $11,316,433; September 30, 2021: $7,360,378))

     (22,830,520     (31,073,684     (23,459,571
  

 

 

   

 

 

   

 

 

 

Loss from operations

     (9,484,850     (17,897,607     (5,339,823

Fair value loss on financial assets at fair value through profit or loss

     (14,841     (1,659,343     —    

Share-based payment on listing

     —         (89,546,601     —    

Fair value loss on preference shares liabilities

     —         (31,815,352     (71,885,207

Fair value loss on warrant liabilities

     (1,762,250     (1,539,577     —    

Write-off on amount due from a shareholder

     —         —         (106,179

Gain on bargain purchase

     —         —         117,238  

Other finance costs

     (142,581     (1,447,778     (2,352,895
  

 

 

   

 

 

   

 

 

 

Loss before taxation

     (11,404,522     (143,906,258     (79,566,866

Income tax expense

     (3,493,717     (270,937     (846,495
  

 

 

   

 

 

   

 

 

 

Loss for the period

     (14,898,239     (144,177,195     (80,413,361
  

 

 

   

 

 

   

 

 

 

Other comprehensive income for the period

      

Item that may be reclassified subsequently to profit or loss:

      

Exchange difference on translation of:

      

- financial statements of subsidiaries and a joint venture outside Hong Kong

     (2,826,668     (4,245,198     (858,767
  

 

 

   

 

 

   

 

 

 

Total comprehensive income for the period

     (17,724,907     (148,422,393     (81,272,128
  

 

 

   

 

 

   

 

 

 


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PRENETICS GLOBAL LIMITED

Unaudited consolidated statements of profit or loss and other comprehensive income

(Expressed in United States dollars unless otherwise indicated)

 

     For the three months ended  
    

September 30,

2022

   

June 30,

2022

   

September 30,

2021

 
     $     $     $  

Loss attributable to:

      

Equity shareholders of Prenetics

     (14,898,231     (144,177,194     (80,410,937

Non-controlling interests

     (8     (1     (2,424
  

 

 

   

 

 

   

 

 

 
     (14,898,239)     (144,177,195)     (80,413,361)  
  

 

 

   

 

 

   

 

 

 

Total comprehensive income attributable to:

      

Equity shareholders of Prenetics

     (17,724,899     (148,422,392     (81,269,704

Non-controlling interests

     (8     (1     (2,424
  

 

 

   

 

 

   

 

 

 
     (17,724,907)     (148,422,393)     (81,272,128)  
  

 

 

   

 

 

   

 

 

 

Loss per share

      

Basic loss per share

     (0.21     (2.91     (2.65

Diluted loss per share

     (0.21     (2.91     (2.65

Weighted average number of common shares:

      

Basic

     70,371,679       49,616,648       30,396,578  

Diluted

     70,371,679       49,616,648       30,396,578  


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PRENETICS GLOBAL LIMITED

Unaudited Financial Information and Non-IFRS Financial Measures

(Expressed in United States dollars unless otherwise indicated)

Reconciliation of (Loss)/Profit from Operations under IFRS and Adjusted EBITDA (Non-IFRS)

 

     For the nine months ended  
    

September 30,

2022

   

September 30,

2021

 
         $         $  

(Loss)/profit from operations under IFRS

     (27,933,118     20,535,595  

Employee equity-settled share-based payment expenses

     28,338,511       12,975,035  

Depreciation and amortization

     6,209,748       4,345,417  

Restructuring costs in relation to UK and diagnostic business

    

- Impairment losses on intangible assets

     19,109,580       —    

- Impairment losses on goodwill

     3,272,253       —    

- Impairment losses on property, plant and equipment

     1,738,467       —    

- Write-off of prepayment

     3,549,298       —    

Other strategic financing, transactional expense and non-recurring expenses

     10,941,228       2,415,383  

Finance income, exchange gain or loss, net

     967,707       (333,798
  

 

 

   

 

 

 

Adjusted EBITDA (Non-IFRS)

     46,193,674       39,937,632  
  

 

 

   

 

 

 

 

     For the three months ended  
    

September 30,

2022

   

June 30,

2022

   

September 30,

2021

 
         $         $         $  

Loss from operations under IFRS

     (9,484,850     (17,897,607     (5,339,823

Employee equity-settled share-based payment expenses

     5,994,430       12,966,966       9,437,807  

Depreciation and amortization

     2,107,063       1,947,390       1,983,045  

Restructuring costs in relation to UK and diagnostic business

      

- Impairment losses on intangible assets

     19,109,580       —         —    

- Impairment losses on goodwill

     3,272,253       —         —    

- Impairment losses on property, plant and equipment

     1,738,467       —         —    

- Write-off of prepayment

     3,549,298       —         —    

Other strategic financing, transactional expense

and non-recurring expenses

     391,354       8,854,689       1,219,997  

Finance income, exchange gain or loss, net

     264,339       671,596       (12,421
  

 

 

   

 

 

   

 

 

 

Adjusted EBITDA (Non-IFRS)

     26,941,934       6,543,034       7,288,605  
  

 

 

   

 

 

   

 

 

 


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PRENETICS GLOBAL LIMITED

Unaudited Financial Information and Non-IFRS Financial Measures

(Expressed in United States dollars unless otherwise indicated)

Reconciliation of Gross Profit under IFRS and Adjusted Gross Profit (Non-IFRS)

 

     For the nine months ended  
    

September 30,

2022

    

September 30,

2021

 
         $          $  

Gross profit under IFRS

     104,551,702        82,365,758  

Depreciation and amortization

     1,364,314        801,870  
  

 

 

    

 

 

 

Adjusted gross profit (Non-IFRS)

     105,916,016        83,167,628  
  

 

 

    

 

 

 

 

     For the three months ended  
    

September 30,

2022

    

June 30,

2022

    

September 30,

2021

 
         $          $          $  

Gross profit under IFRS

     46,818,944        21,694,925        25,739,667  

Depreciation and amortization

     501,211        445,484        353,429  
  

 

 

    

 

 

    

 

 

 

Adjusted gross profit (Non-IFRS)

     47,320,155        22,140,409        26,093,096  
  

 

 

    

 

 

    

 

 

 


LOGO

 

PRENETICS GLOBAL LIMITED

Unaudited Financial Information and Non-IFRS Financial Measures

(Expressed in United States dollars unless otherwise indicated)

Reconciliation of Loss attributable to equity shareholders of Prenetics under IFRS and Adjusted profit for the period (Non-IFRS)

 

     For the nine months ended  
    

September 30,

2022

   

September 30,

2021

 
     $     $  

Loss attributable to equity shareholders of Prenetics under IFRS

     (192,061,275     (88,266,295

Employee equity-settled share-based payment expenses

     28,338,511       12,975,035  

Other strategic financing, transactional expense and non-recurring expenses

     10,941,228       2,415,383  

Share-based payment on listing

     89,546,601       —    

Fair value loss on convertible securities

     —         29,054,669  

Fair value loss on preference shares liabilities

     60,091,353       71,885,207  

Fair value loss on warrant liabilities

     3,301,827       —    

Fair value loss on financial assets at fair value through profit or loss

     1,674,184       —    

Restructuring costs in relation to UK and diagnostic business

    

- Impairment losses on intangible assets

     19,109,580       —    

- Impairment losses on goodwill

     3,272,253       —    

- Impairment losses on property, plant and equipment

     1,738,467       —    

- Write-off of prepayment

     3,549,298       —    
  

 

 

   

 

 

 

Adjusted profit for the period (Non-IFRS)

     29,502,027       28,063,999  
  

 

 

   

 

 

 

 

     For the three months ended  
    

September 30,

2022

   

June 30,

2022

   

September 30,

2021

 
     $     $     $  

Loss attributable to equity shareholders of Prenetics under IFRS

     (14,898,231     (144,177,194     (80,410,937

Employee equity-settled share-based payment expenses

     5,994,430       12,966,966       9,437,807  

Other strategic financing, transactional expense and non-recurring expenses

     391,354       8,854,689       1,219,997  

Share-based payment on listing

     —         89,546,601       —    

Fair value loss on preference shares liabilities

     —         31,815,352       71,885,207  

Fair value loss on warrant liabilities

     1,762,250       1,539,577       —    

Fair value loss on financial assets at fair value through profit or loss

     14,841       1,659,343       —    

Restructuring costs in relation to UK and diagnostic business

      

- Impairment losses on intangible assets

     19,109,580       —         —    

- Impairment losses on goodwill

     3,272,253       —         —    

- Impairment losses on property, plant and equipment

     1,738,467       —         —    

- Write-off of prepayment

     3,549,298       —         —    
  

 

 

   

 

 

   

 

 

 

Adjusted profit for the period (Non-IFRS)

     20,934,242       2,205,334       2,132,074