• H1 FY26 net revenue up 14% to $55.5m
• Q2 FY26 net revenue up 17% to $29.9m
• Gross margin maintained at 49.3%
• $9.9m cash plus $10.0m undrawn debt facilities

Bubs Australia Limited (ASX: BUB) has reported its unaudited financial results for the quarter and half year ending 31 December 2025 (Q2 FY26 and H1 FY26). The company achieved strong growth in the USA market, with H1 FY26 net revenue up 47% to $34.2m. This helped drive an overall 14% increase in H1 FY26 net revenue to $55.5m, and a 17% increase in Q2 FY26 net revenue to $29.9m. Gross margin was maintained at 49.3% during the period. The company's cash position remains healthy, with $9.9m in cash and $10.0m in undrawn debt facilities as at 31 December 2025. The performance in the company's other key markets was more mixed, with China, Australia, and Rest-of-World all experiencing declines in net revenue. However, Bubs is confident that these markets will see improvements in the second half of the financial year. The company also confirmed that it is on track to receive FDA approval for its infant formula products in the US, with the review process continuing to progress.

Bubs expects to meet its full-year guidance, though no specific financial metrics were provided.

The company remains confident that the positive momentum in the USA market will continue into the second half of the financial year, and that its other key markets will see improvements.