Skin Elements Limited

Market Data

Latest Earnings

Interim HY Financial Report & Appendix 4D

27 February 2026

Skin Elements Limited (ASX: SKN) reported HY1 FY26 revenue of $184K, down 41% on the prior corresponding period, with a net loss of $4.01M — a 232% increase in losses — driven primarily by a $3.30M non-cash accounting loss from the settlement of $1M in director liabilities via shares and options at fair value under IFRIC 19. Excluding this non-cash item, Adjusted EBITDA loss narrowed to $658K from $736K in the pcp, reflecting reduced operating costs. The company completed a $3.25M capital raising during the period, significantly improving its balance sheet from a net liability position of $1.94M to net assets of $1.58M, though going concern uncertainty remains. Key points: Adjusted EBITDA loss improved to $658K from $736K in the pcp, reflecting meaningful reductions in operating costs including employee benefits (down from $579K to $203K) and R&D spend (down from $792K to $496K).; Successful $3.25M capital raising (placement + option conversions) transformed the balance sheet from a $1.94M net liability deficit to $1.58M net assets, with cash rising sharply to $1.73M from just $60K at 30 June 2025.; ECO-Nurture approved under Zespri's Crop Allowed Other Compounds list, with commercial roll-out planned for the 2026 New Zealand kiwifruit season — a potential significant milestone for a product targeting the world's largest kiwifruit marketer ($5B+ annual sales).