Noumi narrows half-year loss on revenue growth but faces going-concern risk

The latest announcement is out from Noumi Limited ( (AU:NOU) ).

Noumi Limited has reported its half-year results to 31 December 2025, posting an 11.2% rise in revenue to $332.7 million and a 23.3% increase in adjusted operating EBITDA to $33.9 million. Despite this operational improvement, the company remained loss-making, with the net loss narrowing sharply to $24.2 million from $82.1 million a year earlier, driven in part by significant fair value expenses on convertible notes.

No dividends were declared for the period, and net tangible assets per share remained negative at 175.18 cents. The auditor’s review was unmodified but flagged a material uncertainty over Noumi’s ability to continue as a going concern, citing the availability of funds to fully repay convertible notes as a key risk for shareholders and creditors.

The most recent analyst rating on (AU:NOU) stock is a Hold with a A$0.11 price target. To see the full list of analyst forecasts on Noumi Limited stock, see the AU:NOU Stock Forecast page.

More about Noumi Limited

Noumi Limited is an Australian fast-moving consumer goods company focused on dairy and plant-based beverages, as well as nutritional products and ingredients serving the health and fitness sectors. The company operates advanced manufacturing facilities in Victoria and New South Wales, producing brands such as MILKLAB, Australia’s Own, So Natural, Crankt, Vital Strength and PUREnFERRIN lactoferrin.

Average Trading Volume: 42,328

Technical Sentiment Signal: Strong Sell

Current Market Cap: A$33.25M

For a thorough assessment of NOU stock, go to TipRanks’ Stock Analysis page.