BLIS Technologies Posts $14.7m Revenue and Expands Probi Partnership

Revenue Growth Driven by B2B Expansion and New Markets

BLIS Technologies (NZX:BLT) posted a solid 16% increase in revenue for the year ended 31 March 2026, reaching $14.7 million. This growth was primarily fuelled by a 22% jump in B2B ingredient and private label sales, which now make up 68% of total revenue. New customer launches and stronger demand in EMEA and Asia Pacific, including a key new South Korean client, supported ingredient sales. Meanwhile, B2C revenues grew modestly, led by New Zealand wholesale pharmacy channels and a 5% increase in Amazon US sales despite tariff pressures.

Underlying Earnings Improve Despite One-Off Supply Chain Costs

Reported EBITDA slipped slightly to $0.9 million from $1.0 million in FY25, weighed down by a one-off $0.9 million supply chain cost increase. Adjusting for this, underlying EBITDA surged 83% to $1.8 million, signalling stronger operational momentum. Net profit after tax was $0.7 million, with an underlying NPAT of $1.6 million representing a 90% improvement. The company’s balance sheet remains robust, with $8.5 million in cash and short-term deposits, reflecting inventory investments tied to supply chain adjustments.

Intellectual Property Dispute Resolved, Strengthening Patent Portfolio

A significant highlight was the resolution of a longstanding patent dispute with Bluestone Pharma GmbH and Lactosan GmbH & Co. KG in July 2025. The settlement granted joint ownership of key patent applications, securing BLIS and its licensees’ access to critical technology. Concurrently, BLIS renegotiated a five-year extension to its European supply agreement with Bluestone Pharma, providing commercial continuity. The company also secured two new patents covering antiviral applications of its flagship probiotic strains K12 and M18, and novel formulations combining probiotics with prebiotic sugars, reinforcing its R&D leadership.

Strategic Partnership Expansion and China Regulatory Progress

In a notable commercial milestone, BLIS extended its Technology Licence and Distribution Agreement with Probi AB in October 2025. The expanded deal grants Probi exclusive rights to BLIS K12® and M18® in the USA, Canada, and selected EMEA markets, and for the first time includes pet nutrition products, a fast-growing adjacent market. This leverages Probi’s established commercial network and opens new revenue streams.

BLIS’s regulatory efforts in China advanced with a key clinical trial for K12® and M18® commencing in the second half of FY26, slated for completion in the first half of FY27. This trial is central to BLIS’s China market entry strategy and represents a substantial investment in future growth potential.

Governance and ESG Initiatives Support Sustainable Growth

BLIS made progress towards B Corp certification, submitting its B Impact Assessment and entering the verification phase, underscoring its commitment to social and environmental responsibility. The company reported no lost time injuries for the seventh consecutive year and maintained strong gender diversity with 60% female representation on the Board and 50% in senior leadership. Board changes included the retirement of Chair Geoff Plunket and appointment of Dame Alison Stewart as Chair, bringing deep scientific expertise.

Looking Ahead: Growth, Innovation, and Market Expansion

Entering FY27, BLIS is optimistic about accelerating growth through strengthened partnerships and expanding B2B momentum. The company plans to focus on executing joint business plans, advancing China regulatory milestones, enhancing R&D and IP protection, and leveraging a brand refresh to boost consumer awareness digitally. Despite geopolitical uncertainties, BLIS reports minimal impact from Middle East conflicts and aims to maintain financial discipline while pursuing sustainable, profitable growth.