Prenetics Global (NasdaqGM:PRE) has just posted its FY 2025 third quarter numbers, with revenue of US$23.6 million and a basic EPS loss of US$0.40, keeping the company in loss-making territory. The company’s quarterly revenue has moved from US$10.5 million in Q4 2024 to US$17.3 million in Q1 2025, US$15.0 million in Q2 2025 and now US$23.6 million in Q3 2025. Over the same period, EPS losses have shifted from US$1.28 to US$0.80, US$0.64 and US$0.40. Investors are likely to weigh these results against the potential rewards associated with Prenetics’ growth ambitions and recent market interest. Margins remain pressured, so the key question is whether this revenue base can support a path toward more efficient earnings.

See our full analysis for Prenetics Global.

With the latest figures on the table, the next step is to see how these margins and revenue trends compare with the prevailing bull and bear narratives that investors have been following around Prenetics.

Losses Narrow To US$5.5 Million This Quarter

• Net income from continuing operations (excluding extra items) was a loss of US$5.5 million in Q3 2025, compared with losses of US$8.4 million in Q2 2025 and US$10.4 million in Q1 2025, while losses from discontinued operations shifted from US$4.0 million in Q2 2025 to US$1.9 million in Q3 2025.
• For the bullish view that Prenetics can move toward stronger profitability over time, this pattern of quarterly losses sits alongside much larger trailing twelve month losses of US$47.9 million and a basic EPS loss of US$3.62, which means:
  • The 17.1% annual reduction in losses over five years supports the idea of gradual improvement, but the latest twelve month loss shows the business is still far from breakeven on a full year basis.
  • Bulls pointing to IM8’s growth potential need this steady reduction in quarterly losses to continue if those long term earnings forecasts are going to line up with the current financial reality.

Bulls argue that shrinking quarterly losses could be the early sign that IM8 scale is starting to matter, and they are watching closely to see if that trend holds in coming periods. 🐂 Prenetics Global Bull Case

Trailing Loss Of US$47.9 Million Tests Growth Story

• On a trailing twelve month basis to Q3 2025, Prenetics recorded total revenue of US$77.1 million and a net income loss (excluding extra items) of US$47.9 million, with a corresponding basic EPS loss of US$3.62.
• Bears focus on this trailing loss and argue it clashes with the optimistic long term targets around IM8, and the numbers here give them several talking points:
  • Even with quarterly revenue moving into the US$20 million range, the trailing loss is still more than half of the past year’s revenue, which keeps profitability risk squarely on the table.
  • Analysts’ long run earnings expectations rely on IM8 scaling efficiently, so critics will keep pointing to the size of the current loss as evidence that the business still has a lot of financial ground to cover.

Skeptics argue that a US$47.9 million trailing loss is a high hurdle for any growth story, and they are watching whether future filings show enough progress to change that picture. 🐻 Prenetics Global Bear Case

High P/S Of 4.4x And Big Valuation Gap

• Prenetics trades on a P/S of 4.4x versus 1.2x for peers and 1.3x for the US Healthcare industry, while the current share price of US$20.06 sits well below the DCF fair value of about US$205.17 and an analyst price target reference of US$32.33.
• What stands out for both bullish and bearish investors is how these valuation markers point in different directions when set against the company’s unprofitable status:
  • Supporters can point to the wide gap between the share price and the DCF fair value as a sign that the market is not pricing in the cash flow potential implied in those models.
  • Critics highlight the premium P/S multiple, recent dilution and the company’s continuing losses as reasons why the market might be cautious about fully embracing the higher valuation suggested by those models and targets.

Next Steps

To see how these results tie into long-term growth, risks, and valuation, check out the full range of community narratives for Prenetics Global on Simply Wall St. Add the company to your watchlist or portfolio so you'll be alerted when the story evolves.

If the mix of shrinking losses and a large trailing loss leaves you torn, take a closer look at the balance of risks and rewards for yourself. You can start by weighing the 2 key rewards and 2 important warning signs against the numbers above and decide how the story fits your own expectations.

Explore Alternatives

Prenetics is still posting sizeable trailing twelve month losses of US$47.9 million and remains unprofitable, which keeps earnings risk firmly in focus.

If that level of uncertainty feels uncomfortable, shift your attention toward 80 resilient stocks with low risk scores and quickly zero in on companies where the overall risk profile looks more controlled.

This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.