• Net revenue increased 30% to $25.6m
• Gross profit of 46.4% vs 43% in prior period
• EBITDA of $0.5m vs $4.3m loss in prior period
• Cash and undrawn debt facilities of $22.9m

Bubs Australia Limited (ASX: BUB) has reported its unaudited financial results for the quarter ending 30 September 2025 (Q1 FY26). The company achieved a 30% increase in net revenue to $25.6m, compared to $19.7m in the prior corresponding period. Gross profit improved to 46.4% from 43% in the prior period, while EBITDA was $0.5m compared to a $4.3m loss in the prior period. Bubs held $12.9m in cash reserves as at 30 September 2025, with a further $10.0m of headroom on its bank facilities, totalling $22.9m of available cash liquidity. The company continued to build its inventory levels to fund its growth plans, which resulted in a net operating cash outflow of $4.4m for Q1. Bubs expects to be operating cash flow negative in Q2 as it completes the inventory rebuild cycle. The strong performance of the USA business, with quarterly net revenue of $16.8m, was partially offset by year-on-year reductions in other markets due to stock availability challenges. Bubs has made key personnel changes, welcoming Jasmin Manner as President USA and Chris Lotsaris returning to lead commercial operations in Australia and the Rest of World.