I think it is worth noting that the Biome Exec have shared in recent interviews that they are only at approximately 40% of their total distribution targets so heaps of potential left.
That said as I understand it their focus for FY 25 in Australia (especially) is to drill into their 5000 plus existing distribution points to really optimise same to drive store sales, growth and product awareness through that network.
No doubt they will on board new points of sale if they are available but rapid growth in distribution points likely also brings higher opex and support demands all which are cost.
If as they say there is a lot more opportunity in those existing accounts it makes total sense to really optimise same before we run up cost expanding for expansion sake.
Further I suspect the increase in receivables is not anything to worry about but rather looks to sit to the rapid revenue growth we have seen over the last 12 months.
Biome has never reported any bad debt and growing receivables seems to me to be a pretty normal factor in a rapidly growing businesses and that should be resolved on a rolling basis as would be the case for any business with terms that likely vary between 30 and 60 days
Good luck to all holders
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