Me Today Limited Analysis

Overview

The Me Today Group owns and operates the Me Today brand (Me Today), a New Zealand founded and based health and wellness brand that produces premium quality products clearly linking supplements and natural skincare, ultimately making it easier for consumers to shop.

Me Today's products have been formulated using absorbable ingredients and, where possible, are either vegetarian or vegan friendly. The Me Today Group is conscious of its responsibility towards the environment, so product packaging has been designed to minimise plastic waste and is almost entirely recyclable. The Me Today range offers a modern solution to modern problems.

Launching with a cross-category focus positioned Me Today well to grow through new product development and expansion into new health and wellness categories.

As well as the Me Today brand, the Founders have created The Good Brand Company. The Good Brand Company was established to sell and market third party brands within the health and wellness space. The Good Brand Company represents Me Today and other agency branded businesses. It is actively seeking new brands to further complement its existing brand portfolio.

The Founders of the Me Today Group are Grant Baker, Stephen Sinclair and Michael Kerr. They joined forces to take advantage of what they believe to be a significant opportunity to leverage their joint experience and expertise by launching a new brand in the health and wellness space.

Performance

The following information was extracted from Me Today Group's ("MEE") half year report, released 28 February 2025:

Me Today Ltd announces six-month results recording revenue growth and reduction in trading losses

• Results for the six months ended 31 December 2024 show revenue growth of 64% for the Group.
• Me Today gross branded and agency revenue grows 55% from $1.74m to $2.69m for the half year.
• Me Today gross branded and agency revenue to exceed $5.0m for the full year ended 30 June 2025.
• China partner meets performance hurdle and exercises option to take partial ownership in China trademark.

Me Today Limited (NZX: MEE) has released its unaudited Group results for the six months ended 31 December 2024.

Results show Group revenue of $3.7m an increase of 64% compared to $2.3m for the six months ended 31 December 2023, and a loss after tax of $2.43m, compared to a loss of $7.25m in the six months in the year prior. The operating EBITDA loss for the period is $1.79m a decrease of 19% on the loss of $2.2m for the same period last year.

Further explanation of the result is included below, with a reconciliation of the costs that account for the difference between operating EBITDA and the net loss after tax.

Gross revenue for the Group, before the costs of marketing services provided by a customer, was $4.28m. This was split between King Honey at $1.59m, Me Today branded sales of $2.39m and agency services revenue of $0.3m.

The Group remains in discussions with the prospective purchaser of the King Honey business however there is uncertainty as to whether a transaction will conclude. The lenders of the King Honey business remain supportive at this time and the Group remains in discussions with them in respect to debt structure of the business moving forward. Once the terms of the debt structure have been agreed or a sale concludes an update will be provided to the NZX.

Separate to the discussions relating to the King Honey business sale the Group is considering a capital raise to support continued growth of the Me Today brand. The terms and the amount of the capital raise are still to be confirmed, and further details will be provided once the plans are finalised.