FR Regulatory | 9 October 2025 17:45
VALBIOTIS SA: Valbiotis publishes its interim financial statements and confirms its roadmap
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VALBIOTIS SA
Valbiotis publishes its interim financial statements and confirms its roadmap
La Rochelle, Thursday, October 9, 2025 (5:40 PM CEST) – Valbiotis (FR0013254851 – ALVAL, PEA/PME eligible), a French laboratory specializing in the development and distribution of scientifically tested dietary supplements to support health at every stage of life, announces its results for the first half of the current fiscal year and reaffirms its roadmap through 2030. “During the first six months of the year, Valbiotis stayed on track with its ambitious schedule of commercial product launches in France. In the second half, we are accelerating our rollout thanks to a sharper targeting of our pharmacy sales force, a ramp-up in e-commerce and increased marketing investments made possible by the successful capital increase completed at the end of June. At the same time, internationally, discussions are picking up pace with several potential regional partners. Valbiotis is therefore able to confidently reaffirm all of its short- and medium-term financial ambitions ,” commented Sébastien Peltier, CEO and Co-Founder of Valbiotis.
Key highlights
Expansion of the marketed product portfolio
During the first half of the year, Valbiotis expanded its marketed portfolio in line with the announced timetable. The Company successfully launched two new products in the Valbiotis PRO® range, designed to support cardiometabolic balance and well-being through natural solutions backed by strong scientific evidence:
Alongside Valbiotis PRO® Cholesterol, the Company’s first marketed solution, this lineup, resulting from 10 years of R&D based on proprietary clinical studies, now includes three products, all available in pharmacies and through the valbiotis.com e-commerce site. The Company also expanded its complementary Valbiotis PLUS® line during the first six months of the year with two new products, Collagène Marin Beauté (Marine Collagen for Beauty) and Collagène Articulation (Collagen for Joints), sold both on the Company website and through pharmacies. The range addressing signs of cardiometabolic imbalance and everyday health needs (Omega 3, Multivitamins, Serenity, Sleep, etc.) now comprises 12 dietary supplements in total.
Finalization of research & development programs In R&D, the completion of existing programs continued with positive results in January from the Phase II/III HEART II trial on Lipidrive® (the active ingredient in Valbiotis PRO® Cholesterol). This study demonstrated its effectiveness in lowering LDL cholesterol among individuals with mild to moderate hypercholesterolemia. It strengthens the positioning of Valbiotis PRO® Cholesterol as a scientifically proven solution, offering an alternative to red yeast rice, a substance currently under close scrutiny from health authorities. Each product in the Valbiotis PRO® range now benefits from a comprehensive clinical journey, based on studies meeting the highest methodological standards.
First-half 2025 financial statements
The Company’s first-half 2025 financial statements, prepared in accordance with IFRS, were approved by the Board of Directors on September 24, 2025. They have undergone a limited review by the Statutory Auditor and are available on the website (investors.valbiotis.com).
A leaner cost structure focused on commercialization
In the first half of 2025, Valbiotis generated revenue of €332K, compared with €35K a year earlier. This revenue, derived entirely from self-generated commercial sales, remains modest due to a still-limited product portfolio, with the majority of products launched in the second quarter of 2025 and expected to make their full contribution from the second half of the year.
The first half validated the products’ market positioning, as evidenced by the evolution of key operational metrics over the period:
Other operating income for the first half of 2025 was derived from the research tax credit (CIR), amounting to €53K, marking a sharp decrease (CIR was €531K at June 30, 2024) following the reallocation of R&D expenses in favor of commercialization. As a reminder, other operating income of €3,514,000 was recognized in the first half of 2024, corresponding to an IFRS adjustment with no cash impact, related to the end of the partnership with Nestlé Health Science (remaining balance of upfront payment).
Operating expenses amounted to €5,053,000, representing a sharp decrease of €2,836,000 (or -36%). This change is the result of a significant reduction in R&D efforts in favor of the Company’s commercial rollout, in line with the roadmap outlined at the end of January.
Breaking down operating expenses, cost of sales (production costs for products and the entire logistics chain) was stable at €966K. R&D expenses decreased to €414K during the period, compared with €3,186,000 a year earlier, due to the completion of clinical studies and the closure of the research laboratory in Riom. General and administrative expenses also dropped sharply (-41.6%) to €819K, as a result of ongoing cost-saving efforts on structural expenses since the second half of 2024.
At the same time, sales and marketing expenses rose by 47.3% to €2,567,000, explained by the establishment of the sales force, investments in digital marketing, sales enablement tools and media and consumer communication. These expenses accounted for 54% of operating expenses in the period (excluding share-based payment expenses), compared with 24% a year earlier.
Net income showed a loss of €4,593,000 at mid-year, versus a loss of €3,503,000 in the first half of 2024.
A cash runway extending through Q4 2026
Cash flow from operating activities stood at -€3,916,000 at mid-year, compared to -€5,748,000 in the first half of 2024. This was more than offset by positive cash flow from financing activities, totaling +€5,622,000. This amount was generated entirely from the fundraising completed on June 26 through a capital increase with retention of preferential subscription rights, which raised net proceeds of €5,699,000.
As of June 30, 2025, Valbiotis therefore held cash and cash equivalents of €13,233,000, versus €11,580,000 as of December 31, 2024. This level provides the Company with a cash runway through the fourth quarter of 2026, based on conservative operating cash flow assumptions that do not include any revenues from potential international agreements.
Outlook
Expanded sales force, product range effect, marketing and communication efforts: key growth drivers fully activated in the second half
In the second half of 2025, the strategy deployed aims to accelerate quality positioning in pharmacies – with a direct presence in 431 pharmacies to date, versus 262 at the end of 2024 – and among consumers, as a prerequisite for a strong ramp-up in 2026. The Company’s commercial expansion will therefore benefit from several acceleration drivers by the end of the year, including:
International: intensifying discussions with several partners At the same time, internationally, discussions are intensifying with several potential regional partners, reflecting the soundness of the Company’s international strategic choices.
Confirmation of financial ambitions At the end of this first half-year, Valbiotis remains confident in its ability to generate its first significant commercial revenues over the full year, and reiterates its ambition to reach an initial sales milestone of at least €25M in 2027, supported by positive EBITDA in France. As previously announced, these two 2027 objectives may be revised upward, depending on revenues that could be generated through international partnerships. Looking ahead to 2030, the Company’s ambition also remains unchanged: to surpass €100M in revenue, with at least 30% from international markets, and an EBITDA margin in the range of 25% to 30%.
About Valbiotis Valbiotis is a French laboratory specializing in the development and distribution of scientifically tested dietary supplements designed to support health at every stage of life. Through an innovative approach combining scientific excellence, plant expertise and the richness of natural ingredients, Valbiotis offers a new generation of dietary supplements aimed at promoting cardio-metabolic balance and overall well-being, and addressing everyday health concerns such as sleep, fatigue, mood regulation, immunity and vitality. Created at the beginning of 2014 in La Rochelle, France, Valbiotis has forged numerous partnerships with leading academic centers. Valbiotis is a member of the “BPI Excellence” network and has been recognized as an “Innovative Company” by the BPI label. Valbiotis has received major financial support from the European Union for its research programs via the European Regional Development Fund (ERDF). Valbiotis is a PEA-PME eligible company. For more information on Valbiotis®, please visit: www.valbiotis.com
Contacts Corporate Communication / Valbiotis Caroline Lamberti +33 6 77 82 56 88 caroline.lamberti@valbiotis.com
Financial Communication / Seitosei-Actifin Marianne Py +33 1 80 48 25 31 marianne.py@seitosei-actifin.com
Press Relations /
Seitosei-Actifin
+33 1 56 88 11 14 michael.scholze@seitosei-actifin.com
Name: Valbiotis
Ticker: ALVAL EnterNext© PEA-PME 150 This press release contains forward-looking statements about Valbiotis’ objectives. Valbiotis considers that these projections are based on rational hypotheses and the information available to Valbiotis at the present time. However, in no way does this constitute a guarantee of future performance, and these projections may be affected by changes in economic conditions and financial markets, as well as certain risks and uncertainties, including those described in Valbiotis’ Universal Registration Document filed with the Autorité des marchés financiers (AMF) on April 26, 2023 under No. D.23-0347 as well as its Amendment filed with the AMF on December 11, 2023 under No. D. 23-0347.A01, available on the Company website ( www.valbiotis.com ). This press release and the information it contains do not constitute an offer to sell or subscribe, or a solicitation to purchase or subscribe to Valbiotis’ shares or financial securities in any country. Regulatory filing PDF file File: CP résultats semestriels VDef EN 03 |
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| Language: | English |
| Company: | VALBIOTIS SA |
| 12F, Rue Paul Vatine | |
| 17180 Périgny | |
| France | |
| Phone: | 0546286258 |
| E-mail: | contact@valbiotis.com |
| Internet: | www.valbiotis.com |
| ISIN: | FR0013254851 |
| Euronext Ticker: | ALVAL |
| AMF Category: | Inside information / News release on accounts, results |
| EQS News ID: | 2210856 |
| End of Announcement | EQS News Service |
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2210856 09-Oct-2025 CET/CEST