The following is a summary of the Moolec Science (MLEC) Q4 2024 Earnings Call Transcript:

Financial Performance:

• Moolec reported a revenue increase to $5.8 million in FY 2024, up from $1 million in FY 2023.

• Cost of sales grew proportionally with revenue, resulting in gross margin remaining consistent.

• SG&A and R&D expenses rose to $9.3 million, driven primarily by non-cash items like depreciation and consolidation of business lines.

• Cash utilization increased from $7.5 million in FY 2023 to $9.3 million in FY 2024, mainly due to lower accounts payable.

Business Progress:

• Moolec achieved significant milestones like the setup of a fully owned molecular biology lab in Texas, which became operational in FY 2024.

• Advanced the commercialization of Piggy Sooy and Glaso products, including USDA approval for Piggy Sooy.

• Established collaborations, such as the signed offtake agreement with a major global CPG company for Glaso and R&D collaboration with Bunge for safflower productivity.

• Plans for expanding operational hubs in the U.S. to enhance team collaboration and efficiency.

Opportunities:

• Expect increased commercialization of new science-based products like Glaso in FY 2025.

• Targeting to launch new products with a strategic focus on boosting operational yields and enhancing product quality through identity preservation and strict stewardship protocols.

Risks:

• While Piggy Sooy received USDA approval, it is still undergoing field trials and requires U.S. FDA approvals, indicating potential regulatory hurdles ahead.

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