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Investing.com - Cantor Fitzgerald reduced its price target on Prenetics (NASDAQ:PRE) to $31.00 from $32.00 on Wednesday, while maintaining an Overweight rating following the company’s third-quarter 2025 financial results. Despite the slight reduction, this target still represents a potential 140% upside from the current price of $12.93, according to InvestingPro data, which shows PRE has already delivered an impressive 188% return over the past year.
The healthcare company reported $23.6 million in revenue from continuing operations for the quarter, representing year-over-year growth of approximately 568%, primarily driven by its IM8 business line which contributed about $17.2 million, up 76% sequentially.
Prenetics’ IM8 business demonstrated strong operational metrics in the third quarter, including a customer payback period of 3.9 months, 80% new customer subscription rate, and approximately 60% gross margins.
The company has continued advancing its Bitcoin treasury strategy, accumulating approximately 387 BTC valued at around $41 million to date, while also reiterating its revenue guidance for 2025.
Cantor Fitzgerald noted that Prenetics is positioned for strong revenue growth in fiscal year 2026 with break-even results on the near-term horizon, and considers the shares undervalued at 0.7x EV/2026E revenue compared to slower-growing peers trading at 1.1x.
In other recent news, Prenetics Global Limited has raised its full-year 2025 revenue guidance to a range of $85-100 million, with expectations to achieve breakeven by the first quarter of 2026. The company reported a significant increase in first-half revenue, reaching $32.3 million, a 452.1% rise compared to the same period in 2024. This growth is largely attributed to its IM8 Health supplement brand, which generated $5.9 million in revenue in August 2025. Prenetics also completed the divestment of ACT Genomics to Delta Electronics for $72 million, enhancing its financial position with $39.9 million in immediate cash and $6.3 million held in escrow. Additionally, Prenetics has closed a public offering, raising approximately $44 million in gross proceeds. The proceeds from these activities will support the global expansion of its IM8 brand and its bitcoin acquisition strategy. The company has been actively purchasing bitcoin, accumulating 272 BTC as of late October. Furthermore, Prenetics announced a new public offering priced to raise around $48 million, which includes nearly 3 million Class A ordinary shares and associated warrants.
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