Clover Corp Surges: FY25 Revenue Climbs 38%, NPAT Rockets 370%

Strong Financial Performance

Clover Corporation Limited delivered a compelling FY25 financial performance, with revenue climbing 38% year-on-year to $86 million. This growth was driven primarily by expansion in human nutrition sectors and the introduction of new products. Earnings before interest, tax, depreciation, and amortisation (EBITDA) surged 217% to $12.2 million, while net profit after tax (NPAT) soared 370% to $7.1 million, reflecting improved margins and operational discipline.

The company’s earnings per share rose to 4.26 cents, up from 0.91 cents the previous year, highlighting the scale of profitability gains. These results underscore Clover’s successful execution of its strategic agenda focused on cost efficiencies and market diversification.

Operational and Market Expansion

Operational highlights included record revenue supported by new customer acquisitions and expanded orders from existing clients. Clover broadened its geographic footprint with distributor appointments across North America, Asia, and Europe, enhancing market access. Notably, the Ecuador facility began crude oil production in late 2024, now supplying approximately 30% of the company’s tuna oil needs, contributing to cost reductions and quality improvements.

Increased production volumes and strategic capital expenditure on additional silo capacity further lowered per-unit costs, reinforcing margin expansion. Despite a 22% rise in operating expenses due to recruitment and research and development investments, the company maintained strong profitability.

Innovation and Product Pipeline

Clover advanced its product innovation with the commercial-scale production of CholineXcel, a unique flowable powder designed to improve manufacturing handling and stability. The company has applied for a global patent on this technology and is actively negotiating supply agreements, anticipating strong demand.

Another key product, Premneo, a DHA emulsion clinically proven to enhance IQ in preterm infants, is progressing through regulatory approvals in ANZ and the EU, with ongoing discussions for manufacturing partnerships in India. Clover is also expanding its nutraceutical offerings, including high omega-3 oils and probiotics, targeting diverse markets such as sports nutrition and senior health.

Balance Sheet and Governance

The balance sheet strengthened with net assets increasing year-on-year, supported by reduced borrowings and improved working capital management. Cash reserves stood at $8.9 million despite higher trade receivables linked to strong sales momentum. Non-current borrowings were fully repaid, significantly enhancing financial flexibility.

At the FY25 Annual General Meeting, shareholders approved key governance resolutions including the adoption of the remuneration report, re-election and election of directors, approval of a long-term incentive plan, and adoption of a new constitution, reflecting strong shareholder support for management’s strategic direction.

Outlook and Strategic Priorities

Looking ahead, Clover expects first-half FY26 revenue between $40 million and $43 million, with full-year revenue anticipated to exceed FY25 levels, assuming continued demand and supply chain stability. The company plans to accelerate commercialisation of new products, expand its market reach, and diversify into adjacent high-growth segments such as dietary supplements and functional foods.

China remains a focal point for growth, with Clover aiming to capitalise on structural recovery in human nutrition and expanding e-commerce platforms. The launch of CholineXcel at a major global food ingredients exhibition has already generated promising customer trials, signaling potential for rapid uptake.