Me Today Limited Analysis

Overview

The Me Today Group owns and operates the Me Today brand (Me Today), a New Zealand founded and based health and wellness brand that produces premium quality products clearly linking supplements and natural skincare, ultimately making it easier for consumers to shop.

Me Today's products have been formulated using absorbable ingredients and, where possible, are either vegetarian or vegan friendly. The Me Today Group is conscious of its responsibility towards the environment, so product packaging has been designed to minimise plastic waste and is almost entirely recyclable. The Me Today range offers a modern solution to modern problems.

Launching with a cross-category focus positioned Me Today well to grow through new product development and expansion into new health and wellness categories.

As well as the Me Today brand, the Founders have created The Good Brand Company. The Good Brand Company was established to sell and market third party brands within the health and wellness space. The Good Brand Company represents Me Today and other agency branded businesses. It is actively seeking new brands to further complement its existing brand portfolio.

The Founders of the Me Today Group are Grant Baker, Stephen Sinclair and Michael Kerr. They joined forces to take advantage of what they believe to be a significant opportunity to leverage their joint experience and expertise by launching a new brand in the health and wellness space.

Performance

The following information was extracted from Me Today Group's ("MEE") full year report, released 28 August 2025:

ME TODAY LTD RESULTS FOR THE YEAR ENDED 30 JUNE 2025

ME TODAY BRANDED AND AGENCY GROSS SALES GROWS 44% FROM $4.07M IN FY24 TO $5.85M FOR THE FULL FY25 YEAR

CAPITAL RAISE OF $2.6M UNDERWRITTEN TO $1.5M BY FOUNDING SHAREHOLDERS

Me Today Limited (NZX: MEE) has released its audited Group results for the twelve months ended 30 June 2025.

Results show Group revenue of $7.45m and a loss after tax of $6.02m. Contributing to the loss in the year was the King Honey business with a net loss of $3.65m. With the decision of the King Honey Limited directors to place King Honey into receivership and liquidation on 27 July 2025 the losses from this business unit will not continue in FY26.

Because the receivership decision was made post year end the impact of this decision is not reflected in the 2025 financial statements.

As explained in the financial statements, the receivership will have a positive impact on the balance sheet of the Me Today group in FY26. The liabilities relating to King Honey exceed the carrying value of assets at year-end by $4.2m. The receivership on 27 July means that the net liabilities for King Honey Limited are no longer the responsibility of the Me Today Group and therefore a gain on disposal of the King Honey group will be reported in the 2026 financial year.

Group operating EBITDA loss for the year was $4.76m. The reconciliation from operating EBITDA loss to the net loss for the full year is shown below.

Me Today and Agency -$1.21m (FY24 -$1.53m)

King Honey -$2.62m (FY24 -$1.85m)

Head Office Costs -$0.93m (FY24 -$1.10m)

Total Operating EBITDA -$4.76m (FY24 -$4.48m)

Less other expenses

Net Finance Costs $0.76m (FY24 $0.72m)

Depreciation and Amortisation $0.50m (FY24 $0.47m)

King Honey related write downs $0 (FY24 $5.61m)

Total Expenses deducted from EBITDA $1.26m (FY24 $6.80m)

Net loss for the full year -$6.02m (FY24 -$11.28m)