Blis Technologies Limited Analysis

Overview

Blis is an NZX-listed manufacturer of advanced probiotic strains that enable the delivery of probiotic solutions for specific health targets including throat health, halitosis (bad breath), immune support and teeth and gum health. Combining innovation with evidence-based research has enabled the company to develop a range of products containing two strains of probiotic bacteria - BLIS K12 TM and BLIS M18 TM. Both of these strains occur naturally in the oral cavity however, only around 2% of the population have these healthy bacteria at levels high enough to be effective.

BLIS products have received regulatory approvals for sale throughout New Zealand, Australia, Asia, Europe and the USA. Brand names include ThroatGuard PRO, DailyDefence, TravelProtect, HoneyBlis, FreshBreath and ToothGuard.

Blis probiotics have a significant body of evidence which is constantly growing as more clinical trials are completed. Blis probiotics have been included in more than 40 clinical trials to date.

The company's origins lie in research undertaken by Professor Emeritus John Tagg of the Microbiology Department at the University of Otago in New Zealand who found that Salivaricin B, a substance which acts as a natural antibiotic, controls streptococcal throat infections. Blis Technologies commenced business in August 2000 when it acquired the University's collection of several thousand bacteriocin-producing organisms. It listed on NZX in 2001.

Performance

The following information was extracted from BLIS Technologies Limited's Half year results released 27 November 2025

Strong revenue and underlying earnings growth

Overview

BLIS Technologies Limited (BLIS) delivered strong first half year performance for the six month period to 30 September 2025 (1HY26), achieving revenue of $7.7m, a 28% increase on the same period last year (1HY25).

1HY26 earnings have been impacted by a one-off supply chain cost increase of $0.8m. It is estimated that there remains $0.1m of further costs to be released. EBITDA is $0.5m, up $0.2m on 1HY25 and $1.3m on an underlying basis excluding one-off costs. This reflects strong ingredient orders, growth in private label revenues and tighter execution across key markets.

1HY26 performance was delivered across the business, with both the B2B and B2C sales channels recording double-digit growth over 1HY25.

1HY26 also marked tangible progress in B2B commercial focus, converting pipeline opportunities in key regions and strengthening strategic partnerships.