Revenue exceeds previous forecast

Rua Bioscience has achieved unaudited revenue of $693,829 for the six months ending December 31, 2024. This result significantly exceeds the company's forecast for the period, reflecting robust growth in our key markets of Germany, Australia, and New Zealand.

During our recent capital raise process in November 2024, Rua had forecast sales of $600,000 for the six-month period. The higher-than-expected demand, particularly in New Zealand and Germany, is the primary driver of the increase.

Both Germany and New Zealand ended the year with exceptionally strong sales of our new dried flower products. Germany in particular, which is Europe’s largest medicinal cannabis market, continues to see rising demand driven by changes to regulations in April last year.

CEO Paul Naske stated, "This milestone demonstrates the effectiveness of our export-led strategy and provides evidence that we are delivering on our plans."

The company's priorities for the remainder of FY25 include working with suppliers to increase volumes to meet demand in our key markets and expanding our product portfolio.

With a clear roadmap for achieving sustainable revenue and profit, Rua Bioscience is fulfilling its vision of changing lives in our community.


ENDS  
 

The person who authorised this announcement:

Paul Naske
Chief Executive Officer
[email protected]
+64 21 445154

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Announcement PDF