Continues to Deliver Strong Results and Significant Growth

First Quarter 2022 Highlights Revenue for the first quarter of 2022 was US$92.0 million, a record high, compared to US$57.5 million in the first quarter of 2021 (Loss)/profit from operations under IFRS was US$(0.6) million in the first quarter of 2022, compared to US$11.1 million in the first quarter of 2021. Adjusted EBITDA (non-IFRS)[2] was US$12.7 million compared to US$12.5 million in the first quarter of 2021 Potential acquisition targets being identified in the telehealth and personalized care sectors in Southeast Asia and in Europe Performed and delivered more than 22 million COVID-19 laboratory and rapid at-home tests globally to date Registration Statement for proposed business combination with Artisan Acquisition Corp. declared effective by the SEC, with Nasdaq listing expected on May 18, 2022, subject to satisfaction or waiver of the conditions

 
LONDON and HONG KONG, May 4, 2022 /PRNewswire/ -- Prenetics Group Limited ("Prenetics" or the "Company"), a global leader in genomic and diagnostic testing, today announced its preliminary unaudited financial results for the first quarter of 2022. Prenetics continued to deliver significant revenue growth, driven by strong demand for its diagnostics and genetic testing services.
"Our record performance in the first quarter, in both revenues and adjusted EBITDA, firmly demonstrates the robust demand for our testing services and strength of our technology. We are confident in sustaining the growth momentum as we continue to launch new innovative products and execute on our global M&A strategy in the coming quarters. With our strong balance sheet of US$93.4 million in cash and trade receivables and the expected listing on Nasdaq, we are in advanced M&A discussions with multiple companies in Europe and Southeast Asia in the areas of telehealth and personalized care, which we believe can add additional revenues and new technology to our portfolio," said Danny Yeung, CEO & Co-founder of Prenetics.
He continued, "We are pleased with the progress made towards our Nasdaq Listing. We received the declaration of effectiveness of the Registration Statement from the SEC and expect to be listed on Nasdaq under the ticker symbol "PRE" on May 18, 2022, subject to satisfaction or waiver of the conditions. This is a significant milestone for Prenetics and for Artisan Acquisition Corp. and we are ready to take to the global stage our mission to decentralize healthcare by bringing it closer to millions of patients globally."
The Company has a robust product pipeline and is launching a range of new products in the first half of 2022, including ColoClear, a non-invasive stool-based FIT-DNA test for colorectal cancer screening, and Circle Snapshot, an at-home blood test with a user-friendly blood sample collection and result delivery system.

• Revenue reached a record quarter high of US$92.0 million, an increase of 60.2% from US$57.5 million in the same period in 2021. This uplift was driven by strong demand for its diagnostics and genetic testing services.
  - Prenetics has performed and delivered more than 22 million laboratory tests and at-home tests globally to date.
• Gross profit was US$36.0 million, an increase of 64.3%, from US$21.9 million in the same period in 2021. Gross margin increased from 38.2% for the three months ended March 31, 2021 to 39.2% for the three months ended March 31, 2022, due to improved cost management in diagnostic testing services.
• Loss from operations was US$0.6 million, compared to profit from operations of US$11.1 million in the same period in 2021. The loss was primarily due to increase of non-cash share-based payment associated with an increase in the equity value of the Company.
• Adjusted EBITDA (non-IFRS) was US$12.7 million, an increase of 1.4% from US$12.5 million in the same period in 2021, due to increased operating efficiencies and scalability of the business.
• As of March 31, 2022, the Company had cash and trade receivables of US$93.4 million, consisting of US$34.2 million of cash and US$59.2 million of trade receivables.

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; 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.