Trading Update

26 January 2026

VENTURE LIFE GROUP PLC

("Venture Life", "VLG" or the "Group")

Trading Update

Venture Life (AIM: VLG), a leader in product innovation, development and commercialisation within the global consumer healthcare sector, announces a trading update for the twelve-month period ended 31 December 2025 (the "Period"). As announced on 24 September 2025, the Company has changed its accounting reference date from 31 December to 31 May, and will publish unaudited interim accounts for the Period on 31 March 2026.

The Group delivered revenues1 of £35.1 million during the Period, representing a 32.0% increase compared to the previous year (FY24: £26.6 million). On a proforma2 basis, which assumes acquisitions were in place for the entirety of the prior year, revenues were up 11.1% year-on-year, comprising 0.9% from price increases and 10.2% from volume sold.

The Power Brands (Balance Activ, Lift/Glucogel, Earol, Health & Her/Him) grew 14.9% to £33.1 million (FY24 proforma: £28.8 million). Underlying this was strong performance in the UK where increased investment in advertising and promotion ("A&P") drove revenue growth of 20.7% to £25.7 million (FY24 proforma: £21.3 million). The international business declined 8.7% to £9.4 million (FY24 proforma: £10.3 million) and was attributable to order timing from partners.

The strong growth in UK revenues came from increases to Balance Activ of 37.0% to £4.3 million (FY24: £3.2 million) and Earol of 11.5% to £3.2 million (FY24: £2.8 million). The Lift brand demonstrated a strong recovery in the second half of the year, finishing with a 4.9% increase to £7.3 million (FY24: £7.0 million). The Health & Her/Him brands, which were acquired on 8 November 2024, delivered significant proforma growth of 44%, reaching £8.5 million (FY24 proforma: £5.9 million; FY24 reported: £0.8 million).

The reduction in the international business was primarily driven by two factors: Firstly, the largest partner for Gelclair moved a significant order into early 2026. Secondly, there were high stock levels in-market for Earol (sold under the Vaxol brand) in Scandinavia, and operations were temporarily disrupted as a result of a recent change in ownership of the in-market local distributors. This has now been resolved and new market expansion opportunities are also under discussion.

As communicated during 2025 following the disposal of its CDMO operations, VLG is now a pure branded consumer healthcare business, focused on the growth and development of its brands. The future development of the international business will be focused on growing key strategic partnerships with larger counterparties in key markets, which will bring more stability and predictability to international revenues and profitability. As part of this focus, the decision was taken to close the Spanish office that managed these international partners, and incorporate this function within the UK based commercial team. This alignment with brand strategy in the UK and the building of bigger and more select strategic partnerships is expected to deliver greater and more stable long term value for Venture Life's brands outside of the UK.

In addition to increasing A&P activities, investment and resource has been increased in the area of new product development ("NPD"). Led by Kate Bache, Chief Innovation Officer, this focus is fundamental to brand success and value growth. In conjunction with our strategic partnership with the Healthea Group, the owner of BioDue S.p.A which acquired the CDMO business in July 2025, this has seen the development of a deep and exciting NPD pipeline which is expected to deliver meaningful revenue growth in the future. Further, following the appointment of Peter Jackson to the Board at the end of 2025, the Group has begun investing in integrated digital technologies and has successfully launched the new Microsoft Dynamics 365 ERP system. This will support the execution of the Group's new data and digital led strategy which is beginning to drive efficiencies across the organisation.

The Company continues to pursue immediately earnings enhancing M&A opportunities and is actively working on a number of potential targets within complimentary sectors across women's health, men's health, energy management and hormonal health. Further updates will be provided as and when appropriate.

As at 31 December 2025, the Company held a net cash position of £34.4 million (30 June 2025: £2.0 million) (30 September 2025: £34.1 million). The Company's share buyback programme that was announced on 30 September 2025 remains ongoing, and as at 31 December 2025 a total of £1.1 million had been returned to shareholders through the acquisition of approximately 1.7 million ordinary shares. The Board remains confident in achieving management's revenue and Adjusted EBITDA expectations for the seventeen-month accounting period ending 31 May 2026.

1 Revenue from continuing operations excluding the divested CDMO business, non-core products and oral care brands.

2 Proforma basis i.e. if the acquisitions had been in place for the whole of the prior year.

Jerry Randall, CEO, commented:

"Our decision to meaningfully increase A&P spend in the UK during 2025 has been vindicated by the revenue growth seen across the Power Brands which are well ahead of sector norms. The growth in our women's health brands is particularly pleasing, as we see this category as a key value driver in the future, and I am delighted with the performance of the Health & Her business acquired in late 2024. Since the divestment of our CDMO business we have invested significantly to both backfill certain positions that were previously run from within the CDMO business, and build the infrastructure with strong talent to support our growth aspirations and enhance capabilities.

We have also restructured and refocused the international business with a view to this delivering more stable and consistent profitable growth through key strategic partnerships. 2025 was a period of significant change and sharpening of focus which has pivoted the Group to become a pure branded consumer healthcare business focused on supporting consumers in proactive healthy longevity. We have entered 2026 with great momentum and with a reshaped focused business setup for our future aspirations as well as being very active in pursuing the right M&A opportunities to leverage our enhanced capabilities and resources. I am very excited about the opportunities in front of us and look forward to updating shareholders more in due course." 

For further information, please contact:

Venture Life Group PLC +44 (0) 1344 578004

Jerry Randall, Chief Executive Officer

Daniel Wells, Chief Financial Officer

Cavendish Capital Markets Limited (Nomad and Broker) +44 (0) 20 7720 0500 

Stephen Keys/George Lawson (Corporate Finance)

Michael Johnson (Sales) 

About Venture Life (www.venture-life.com)

Venture Life is an international consumer self-care company focused on commercialising products for the global self-care market. Headquartered in the UK, the Group's product portfolio includes Balance Activ in the area of women's intimate healthcare, Earol® supporting ENT care, Lift and Glucogel product ranges for energy and glucose management and hypoglycaemia, plus the Health & Her product range supporting the hormonal lifecycle.

The products, which are typically recommended by pharmacists or healthcare practitioners, are available primarily through health & beauty stores, pharmacies, grocery multiples and e-commerce channels and are sold globally. In the UK, Ireland and the USA these are supplied direct by the company to retailers, elsewhere they are supplied by the Group's international distribution partners.