Announcement PDF RNS Number : 9539F OptiBiotix Health PLC 28 May 2026 OptiBiotix Health plc ("OptiBiotix" or the "Company" or the "Group") Final results and Notice of Annual General Meeting OptiBiotix Health plc (AIM: OPTI), a life sciences business developing products which reduce hunger and food cravings, enhance the gut microbiome, and sweet fibres as healthy sugar substitute announces its audited results for the 12 months ended 31 December 2025. Highlights · Revenues up 34% to £1.17m (2024: £870k) with £212k of orders received in 2025 not included and carried forward for delivery in 2026 · Gross profit up 85% to £614k (2024: £331k) · Gross profit margin increased to 53% (2024: 38%) · Operating costs (including selling, R&D and patent costs but excluding non-cash share based payments) are slightly up at just under £2.7m (2024: £2.6m) · Cash balance of £1.04m (2024: £739k) · Holdings in ProBiotix Health Plc ("PBX") and SkinBioTherapeutics Plc ("SBTX") with an aggregate market value of £6.45m as of 31 December 2025. · Launch of SlimBiome® in Hydroxycut, which markets itself as the No. 1 selling weight loss supplement brand in the United States of America ("USA") · Signing of a distribution agreement with a well-known direct selling weight management company with a first order received in H2 2025 with product launch scheduled for H1 2026 · Growing list of new customers in Asia with 17 products launched and 74 customer projects at various stages of development across six different countries. · Territories outside the UK now represent 73% of revenue (2024:63%) with Asia increasing by 182% to £268k from £95k in 2024 · Introduction of an optimised enzyme-based production process for SweetBiotix that delivers much higher yields, a purer and better-tasting product, and reduces ingredient and production costs · The Company ended 2025 with a balance sheet of £6.8m (2024: £9.0m), a strong cash position of £1.04m (2024: £739K), no debt and a growing pipeline of new customers Post period end · Twenty-four metric tonnes (24mt) SlimBiome order from Meelung Trading, Taiwan to be delivered at approximately three-month intervals throughout 2026 with payment already received for the first 12mt. · Record start to 2026 with over £800k of orders received in January 2026 for delivery during 2026 calendar year, including carried forward orders outlined above (announced 21 January 2026). This excludes ecommerce and subsequent orders. · Commencement of a clinical study by Hull University Teaching Hospital to determine the effect of six week pre-operative consumption of WellBiome on time spent in intensive care and potential cost savings for the National Health Service (announced 24 February 2026). · Disposals of 8,900,000 SBTX shares for cash consideration of approximately £787k. The Company disposed of 1,400,000 SBTX shares in March 2026 for cash consideration of approximately £112k and made a further disposal of 7,500,000 SBTX shares in April 2026 for cash consideration of approximately £675k. · A shift from investing in building a broad business with multiple channels and territories to focus on high growth areas and commercial sustainability ü Significant reduction in marketing and selling costs in 2026 with planned reductions in R&D and IP costs anticipated to save £500k-600k per year ü Margin improvement in cost of goods which should reduce the cost of producing SlimBiome by 31% in Q2 2026 orders with further changes anticipated to lead to a final cost reduction of 48%. The Board expects this should improve gross margin and gross profit ü The development of profit and loss accounts for each part of its business (OptiBiotix Health USA, OptiBiotix Health India, Ecommerce and B2B) with each business unit tasked with covering their costs by end of 2026. This will help determine future spending and cost savings Notice of AGM The Annual Report and Financial Statements, which will be available on the Company website and sent to shareholders who have requested it, contains a Notice of Annual General Meeting ("AGM") which will be held at 2pm on 23 June 2026 at the offices of Marex at 155 Bishopsgate, London, EC2M 3TQ. Due to building security requirements shareholders wishing to attend the AGM in person should notify Optibiotix on info@optibiotix.com by 19th June to facilitate ease of access. Stephen O'Hara, CEO of OptiBiotix Health plc said: "The Company has made good progress in 2025 with growing sales, higher margins, increased gross profit and valuable assets in its holdings in PBX and SBTX with a combined market value of circa £6.45m at the end of December 2025. The Company's investments in its IP portfolio, health claims for products in major markets, international manufacturing and distribution base, and ecommerce customer base is now complete. The Company is now focused on achieving commercial sustainability by accelerating its activities to reduce costs and improve margins whilst continuing to grow its top line in those areas showing high growth and commercialising its second-generation products. Recent progress on SweetBiotix (announced 24th November 2025), has continued into 2026 providing us with a cleaner, purer, better tasting product, and a clearer commercial route to market than previously achieved. The Company will be demonstrating its SweetBiotix products to shareholders in June 2026, further details on venue and timing to follow". This announcement contains information which, prior to its disclosure, was considered inside information for the purposes of the UK Market Abuse Regulation and the Directors of the Company are responsible for the release of this announcement. Engage with the OptiBiotix management team directly by asking questions, watching video summaries and seeing what other shareholders have to say by subscribing to the new website to get regular updates: https://optibiotix.com/auth/signup View the full announcement and submit questions to management via our website: https://optibiotix.com/link/ejnRle For further information, please contact: OptiBiotix Health plc www.optibiotix.com Neil Davidson, Chairman Stephen O'Hara, Chief Executive Cairn Financial Advisers LLP (NOMAD and Broker) Tel: 020 7213 0880 Liam Murray / Ludovico Lazzaretti / James Western About OptiBiotix - www.optibiotix.com OptiBiotix Health plc (AIM: OPTI, OTCQB: OPTBF), OptiBiotix Health has developed a range of technologies and commercialised products which modulate the human microbiome to help prevent and manage human disease. Since the Group's inception it has created a wide range of microbiome-based ingredients and products including prebiotic products like SlimBiome®, WellBiome®, SweetBiotix® and Microbiome Modulators within its core OptiBiotix Health plc (OPTI) business, but also skincare through its holdings in SkinBioTherapeutics PLC (SBTX), and probiotics through ProBiotix Health plc (PBX). These companies create a diverse portfolio technologies and products in an emerging area of healthcare that is of growing interest in consumer markets throughout the world. Forward-Looking Statements Certain statements made in this announcement are forward-looking statements. These forward-looking statements are not historical facts but rather are based on the Company's current expectations, estimates, and projections about its industry; its beliefs; and assumptions. Words such as 'anticipates,' 'expects,' 'intends,' 'plans,' 'believes,' 'seeks,' 'estimates,' and similar expressions are intended to identify forward-looking statements. These statements are not guarantees of future performance and are subject to known and unknown risks, uncertainties, and other factors, some of which are beyond the Company's control, are difficult to predict, and could cause actual results to differ materially from those expressed or forecasted in the forward-looking statements. The Company cautions security holders and prospective security holders not to place undue reliance on these forward-looking statements, which reflect the view of the Company only as of the date of this announcement. The forward-looking statements made in this announcement relate only to events as of the date on which the statements are made. The Company will not undertake any obligation to release publicly any revisions or updates to these forward-looking statements to reflect events, circumstances, or unanticipated events occurring after the date of this announcement except as required by law or by any appropriate regulatory authority. Chairman's report OptiBiotix has successfully invested to develop a broad intellectual property portfolio, undertaken clinical studies that have allowed it to gain regulatory approval for on-pack health claims, and developed robust manufacturing bases and distributor networks in major markets worldwide. It retains valuable assets in its second-generation products, including SweetBiotix®, and its equity stakes in the other microbiome companies it has created. The Group is now concentrated on achieving profitability in all business units by focusing on markets and products with the strongest growth potential: driving sales, raising margins and cutting costs. Strategy and business development From its inception, the business has sought to put the interests of shareholders first, by maximising opportunities and reducing risk through the creation of a broad spread of assets in high-growth markets, which has reduced shareholder dilution. We have delivered substantial value through the spin-off of two separately quoted microbiome businesses, SkinBioTherapeutics plc ("SBTX") and ProBiotix Health plc ("PBX"), with an aggregate market value of £6.45m at year-end (2024: £9.23m). Our proven first-generation products SlimBiome® and WellBiome® address the fast-growing weight control and gut health markets with the support of proven health claims, and we are building global sales with a growing number of larger partners and an increasing online presence. At the same time, we are progressing discussions with a number of major partners to bring our second- generation products to market, with SweetBiotix® reaching a key competitive milestone through the development of a new production process that repositions it as a potential partner rather than a competitor to sugar producers. We have taken robust action to reduce board, staff, R&D, IP, broking and PR costs, and secured admission of the Company's shares to the OTCQB Venture Market to increase our visibility to the US investment community. Results The strong sales momentum established in 2024 continued throughout 2025, with revenues increasing by 34% to £1.17m (2024: £870k). Over two years, sales have increased by more than 81%, from £644k in 2023. Gross profit increased by 85% to £614k (2024: £331k). We continue to have a strong balance sheet, with gross assets at the year-end of £6.9m (2024: £9.0m) and cash of £1.04m (2024: £739k). The Board David Blain joined the Board as Finance Director and Company Secretary on 7 January 2025, bringing us the benefit of his extensive financial, commercial and board experience with a range of private and public companies including Iksuda Therapeutics Ltd, Applied Graphene Materials plc, Nanoco Group plc and Inspired Capital plc. Under his leadership, we have achieved a significant enhancement of divisional P&L accounting and improved the control of costs throughout the Group, with the aim of moving each division and ultimately the Group to profitability. Outlook We made a very strong start to the new financial year, with record orders of more than £800k from four major partners recorded in the first four weeks of 2026 to be delivered at approximate quarterly intervals throughout 2026. With tighter cost control delivering improved margins across the Group, and an important breakthrough achieved as we move towards the commercialisation of SweetBiotix®, we believe that we are on course to achieve our objective of moving all parts of the business towards profitability and delivering increased shareholder value. N Davidson CBE Chairman 27 May 2026 Chief Executive Officer's report In the last few years we have concentrated our activities and investment in building a broad-based business selling clinically proven, effective products in fast-growing markets across multiple territories worldwide. This investment is largely complete. Our focus is now on leveraging this international distribution, manufacturing, and customer base to drive growth in those products and territories that can deliver the highest returns, while progressing commercialisation of our exciting second-generation products, to achieve sustainable Group profitability. Strategic overview OptiBiotix Health PLC (AIM: OPTI, OTCQB: OPTBF) ("OptiBiotix", "OPTI" or the "Company" and together with its subsidiaries the "Group") is a life sciences business focused on the development of products which reduce hunger and food cravings, enhance the gut microbiome, and provide a healthy substitute for sugar. We believe that the Group has now reached a strategic inflection point, having developed a unique range of first- generation products with good customer reviews, carried out clinical studies to gain approval for on-pack health claims, built a strong IP portfolio, and developed manufacturing and distributor networks in major territories in the world. We also believe we have a very valuable asset in our IP portfolio for future commercialisation, particularly in our second-generation products including SweetBiotix®. In parallel, we have invested in and developed a range of other microbiome assets, delivering substantial value for our shareholders by spinning these out into free-standing PLCs, SkinBioTherapeutics ("SBTX") and ProBiotix Health ("PBX"). To date OPTI has raised a total of £10.4m in funds, delivered a £10.25m dividend in specie through the issue of PBX shares, and raised £7.81m through the sale of SBTX shares. This includes approximately £112k from a disposal of SBTX shares in March 2026 and £675k in April 2026 when a material change in SBTX's position occurred with the announcement of a suspension of shares due to the ongoing investigation into the conduct of the former CEO of SBTX by FRP Advisory which meant that SBTX could not issue its interim results by 31 March 2026 as required by the AIM rules. OPTI retains valuable equity stakes in both SBTX and PBX with an aggregate market value of £6.45m as of 31 December 2025, making a return of £23.72m on the £10.4m raised since listing in August 2014. Recent trading updates for PBX report profitability has been achieved in Q1 2026, demonstrating potential for further upside. These assets provide opportunities to realise value through the sale of shares or the potential of an ad hoc dividend return to shareholders. Having invested in building a broad product portfolio and other valuable microbiome assets in its holdings in PBX and SBTX, the Group is now focused on growing sales in its first-generation products and commercialising second generation products to attain commercial sustainability. Product Portfolio and Asset Value Creation OptiBiotix has followed a dual‑track strategy, developing: · First-generation products (SlimBiome®, WellBiome®) to create early revenues and establish a position in the market; and · Second‑generation solutions (SweetBiotix®, Microbiome Modulators) to create long‑term, high‑value differentiators. SlimBiome® is our flagship weight loss product, clinically proven through four human studies to keep users feeling fuller for longer, and to reduce craving for both sweet and savoury snacks. This helps users reduce calorie intake and manage their weight sustainably while also promoting gut health and diversity. Containing only natural ingredients, it has none of the potential side-effects associated with injectable GLP-1 agonists like Semaglutide, marketed as Ozempic and Wegovy. Recent changes in the weight management market, with the rapid growth in demand for injectable GLP-1 agonists, have presented both a competitive threat to SlimBiome and a significant opportunity for growth. This has led us to change our focus to promoting SlimBiome® as both a safe and lower cost natural alternative to GLP- 1s, and increasingly as an aid to preventing weight gain when consumers stop injecting the drugs. There is good evidence that a rebound in weight is the rule rather than the exception when users come off GLP-1s, with the vast majority of users regaining two thirds of their lost weight within one year. Studies also show that 58% of patients stop GLP-1 treatment within the first three months due to cost, side effects or other issues Study Shows 58% Of Patients Discontinue Use Of Obesity Medications (Forbes, June 2024). Our product range is ideally placed to support these people in their efforts to achieve a sustained weight reduction. The global market for alternatives to GLP-1 agonists was estimated to be worth $1.2bn in 2024 and forecast to grow at a compound annual growth rate of 16.7% to quadruple in value to $4.8bn by 2033 GLP-1 Support Supplements Market Research Report 2033. WellBiome® is a patented, mineral-enriched multi prebiotic fibre complex developed in collaboration with leading UK universities and formulated to enhance gut microbiome diversity to support overall wellbeing. On-pack health claims authorised in Europe, and the USA include: WellBiome® nourishes beneficial bacteria to improve gut health; contributes to improved bone health by aiding the absorption of essential minerals; contributes to normal muscle function; supports normal brain function and memory; supports cardiovascular health; and contributes to a reduction of tiredness and fatigue. The Group announced in February 2026 the beginning of an clinical study being carried out by Hull University Teaching Hospital to determine the effect of taking WellBiome® on cardiac surgery outcomes. The study follows an approach to OptiBiotix by the National Health Service (" NHS") to carry out a double blind, placebo-controlled trial that will evaluate the impact of six week pre-operative consumption of the supplement on time spent in intensive care, the overall length of hospital stay, the incidence of post-operative complications, and the potential cost savings for the NHS. This is an NHS led study which if successful it could lead to WellBiome® becoming the standard of care for NHS patients undergoing surgery. Interest in gut health is a growing trend around the world, with more than 80% of consumers in the UK, USA and China considering it to be important, and over 50% anticipating that they will make it a higher priority over the next two to three years (The top wellness trends in 2024 | McKinsey). SweetBiotix® are a portfolio of natural, sweet, high-fibre, low-calorie products developed to replace both sugar and sugar substitutes. They are trademarked and protected by a substantial and valuable IP portfolio comprising more than 25 patents. The products have been tested by academic groups who have published five papers in peer-reviewed journals providing an independent assessment of SweetBiotix's taste and health benefits. The Group has provided SweetBiotix® samples under Material Transfer Agreements (MTA) to a number of partners who have specialist expertise in sugar substitutes and are supporting SweetBiotix® development with a view to the use of SweetBiotix® in their products. Milestone payments from commercial agreements with partners have delivered over £750k of income to OptiBiotix over the last few years. As announced in November 2025, a key competitive milestone was reached last year with the introduction of a new enzyme that delivers much higher yields, a purer and better-tasting product, and reduces ingredient and production costs. Significantly, this new enzyme produces SweetBiotix® from sucrose (sugar), an unhealthy commoditised ingredient with a rapidly contracting customer base and converts this into a healthy and higher value prebiotic fibre. This repositions SweetBiotix® in the eyes of sugar producers from a competitor into a potential value-enhancing partner and gives us increasing confidence in the commercial potential of SweetBiotix® as we continue to work with DSM Firmenich and other partners on product development. Microbiome Modulators There is increasing recognition of the role of the microbiome in health and disease. With this comes the potential to develop strategies to change the microbial composition of the microbiome as a dietary or treatment option to improve health outcomes, prevent chronic diseases, and/or improve the efficacy or reduce the toxicity of drug treatments. Microbiome Modulators have been developed to meet this need. This technology is applicable to a wide range of microbial species with short-term opportunities with nutraceutical company partners who wish to improve the performance of their existing probiotics or more long- term, pharmaceutical companies interested in improving drug therapies. This has created interest from a spectrum of potential partners with a view to licensing the technology, co-development of specific products for partners, or the production and sale of an ingredient to boost the performance of products containing Lactobacilli species. The pathway to financial sustainability Having built its scientific, clinical, manufacturing, distribution and e-commerce customer base the Group's focus is now on increasing sales, improving margins, and reducing costs to develop a sustainable business, and launching its second-generation products by: Growing sales. Considerable progress has already been made in increasing sales, particularly of high margin product lines, with a record start to 2026. As announced on 21 January 2026, the Group has received over £800k in orders for delivery throughout the 2026 calendar year. This excludes e-commerce sales and subsequent orders received post January 2026. We are also successfully increasing our e-commerce basket size by broadening our product range through the launch of more snack bar flavours. Improving margins. The Group increased its gross profit from 38% in 2024 to 53% in 2025, which has impacted positively on gross profit which has increased by 85% to £614k (2024: £331k). This improvement is expected to continue, as the significant increase in SlimBiome orders for 2026, noted above, has enabled the Group to negotiate volume discounts on its core ingredients which is expected to reduce the cost of producing SlimBiome® by 31% on H2 2026 orders, with further reductions anticipated later in the year that will potentially lead to a cost reduction of up to 48%. The Group is now supplying parts of Asia from India which has a much lower cost of production and exploring the potential for India to supply other parts of the world. These changes will improve margins on both the sale of SlimBiome® and final products and should have a positive impact on the Group's overall margins in H2 2026. Reducing costs. We are working to a plan that has led to a reduction in marketing and selling costs during January and February 2026 of 78% which, with planned reductions in R&D and IP costs, are anticipated to save £500k- 600k per year. Research expenditure has been reduced with development focused on the scale-up of SweetBiotix®. Under the leadership of our new CFO David Blain, who joined the Board in January 2025, the Group has developed separate profit and loss accounts for each part of its business (OptiBiotix Health USA, OptiBiotix Health India, Ecommerce and B2B) with each business unit tasked with covering its direct costs by the end of 2026. Future spending will be focused on those business units and products with the highest return or most growth potential. This may mean we reduce spending in some markets to focus spend on high growth markets and products. Consumer Health and E-commerce We have invested heavily in e-commerce over the last two years to build brand awareness, a large customer base, and monthly subscriptions leading to this part of the business now delivering approximately 30% of total revenue. E-commerce gives us immediate revenue, direct and unfiltered customer feedback on our products, and acts as a shop window for partners looking to launch similar products. In 2025 the majority of sales were organic (i.e. not linked to advertising) meaning we now have a stable and predictable income without the need for high advertising spend. This has allowed us to reduce our selling costs by 78% on Amazon with no impact on revenues creating an Amazon accounttrading surplus. Our own direct-to-consumer online sales (www.optibiotix.online) has always been profitable. The focus now is on growing our basket size by broadening the product range and targeted campaigns on specific high margin products. OptiBiotix Health USA OptiBiotix Health USA has continued to build its presence within the world's largest economy by solidifying its supply chain and strengthening client marketing support, and through consumer product launches. We established a US-based warehouse and logistics provider to facilitate the import and distribution of OptiBiotix products, as the uncertainty caused by changing US tariffs and customs regulations made it difficult to meet the short lead times demanded by retailers and e-commerce platforms. As part of this initiative, we have also identified several potential US-based production partners and are assessing the economic and regulatory feasibility of establishing a local supply chain. We were pleased to announce the launch of 'Hydroxycut Hunger Control' in August 2025. Hydroxycut is the leading US weight loss supplement brand and the Hunger Control product is available both through e-commerce platforms and in retail at Walmart and two new partners, Daily Nouri launching 'Feel Full' and Natural Health Trends Corporation (NHT) launching a slimming soup. The weight management market is highly competitive with high customer churn in the USA and it is essential we build a broader customer base in this large market. We received a large number of new business enquiries following our participation in Supplyside Global, the pre-eminent gathering for sports nutrition and supplement brands in North America, and hope to announce further US partners as the year progresses. OptiBiotix Health India and Asia As the world's most populous nation, with 1.4bn consumers, a growing middle class and obesity prevalence of 40%, India presents a huge area of opportunity for weight management products. Our strategic investment in establishing OptiBiotix Health India in 2021 has given us a strong platform for growth through the local manufacture and sale of both ingredients and final products. The lower cost base of manufacturing in India also gives us the opportunity to improve margins by exporting SlimBiome to customers in Asia and Australasia, and potentially North America. Our partnership with Morepen continues to develop although challenged by the patent expiry of Semaglutide in March 2026 which has reduced the cost of drug treatment with generics costing around $15 per week. We are working with partners to ensure positioning of SlimBiome® as a healthier alternative and as an aid to preventing weight gain when consumers stop taking these drugs. During the year we continued to enjoy strong growth with new and existing partners across a wide range of Asian territories, with 74 customer projects at various stages of development and 17 new products launched across six different countries. Based on current orders we expect Asia to be the fastest growing part of the business in 2026 contributing an additional circa £600k more in revenue than 2025. Results Our order book and delivered sales both grew strongly throughout the year, with total revenues increasing by 34% to £1.17m (2024: £870k) and orders growing by 34% to £1.38m (2024: £1.0m), including £212k of orders carried forward for delivery in 2026. Gross profit increased by 85% to £614k (2024: £331k), with the gross margin improving from 38% to 53%. Operating costs (including selling, R&D and patent costs but excluding non-cash share-based payments) remained stable at just under £2.7m (2024: £2.6m). The Company has holdings in ProBiotix Health Plc and SkinBioTherapeutics Plc with an aggregate market value of £6.45m as of 31 December 2025. Balance sheet shows gross assets of £6.9m (2024: £9.0m), no debt and net cash at the year-end of £1.04m (2024: £0.74m). Post period, the Group reported a record start to 2026 with over £800k of orders received by 21 January 2026 for delivery during 2026, including carried forward orders outlined above. This excludes ecommerce and subsequent orders. Outlook Our strategic focus is now firmly on growing sales, improving margins and reducing costs to build a sustainable business, and launching our exciting second-generation products. Record orders in the opening months of 2026 underline the strength of our position with major partners in fast-growing markets for our first-generation weight reduction and gut health products. At the same time, we are building a commercial roadmap to exploit the potential of SweetBiotix® as a healthy, high-fibre sugar substitute across multiple territories, working with partners on the development of applications and exploring opportunities for licensing. In a volatile global environment, with conflicts around the world potentially impacting on supply chains, increasing lead times and the cost of goods, and affecting investors' appetite for risk, we have the advantage of a broadly based product offering across multiple international markets. We also have valuable holdings in PBX and SBTX, reducing the need for OPTI to come to public markets to raise funds. We note the recent high level of M&A activity in the weight management supplement market with Huel acquired by Danone in March 2026 for £864m, Supreme acquiring Slimfast from Gl