Applied Nutrition plc has beaten forecasts with its latest full-year results as its meteoric rise continues.
The Liverpool-based sports nutrition, health and wellness brand expects FY26 adjusted EBITDA to be ahead of consensus market expectations, increasing by 40% year-on-year to approximately £43.3 million (FY25: £30.9m).
Revenue is ahead of market expectations, having increased 50% year-on-year to £160m (FY25: £107m).
The results exclude the trade and assets of Nutrablend, which were acquired in June.
The group now expects total adjusted EBITDA for FY27 to grow year-on-year to approximately £49m (+13% year-on-year) and revenue to increase to approximately £205m, both ahead of current consensus market expectations.
Trading in its shares jumped 8% in early trading (writing at 8.30am), giving Applied Nutrition a market cap of £868m.
The firm, which has Coleen Rooney as an investor and brand ambassador, was founded by fitness enthusiast Thomas Ryder in 2014 and went public in October 2024. Ryder was included on BusinessCloud’s recent Founder 250 list.
It will reach the magic £1 billion mark if and when its share price reaches 400p – and it should do so before Christmas.
Ryder is completely self-made. He grew up on a council estate in Liverpool and, from an early age, completed two paper rounds to earn extra money. He was brought up in Kirkby by his grandparents after his father died when he was just 12.
After leaving school with no formal business qualifications, he began a scaffolding apprenticeship with Liverpool City Council but identified a gap in the market that would change his life – selling supplements which he imported from North America.
He would later take control of one of these brands – Applied Nutrition – and improve it by reducing its sugar content, enhancing the flavour and changing the design. He relocated manufacturing from Canada to Belgium and expanded its product range before bringing manufacturing in-house to Kirkby.
At one point, the company was rumoured to be preparing to accept private equity investment from LDC before Peter Cowgill led JD Sports Fashion’s acquisition of a minority holding in Applied Nutrition in 2021.
In 2023, Applied Nutrition launched ‘Body Fuel’, an entry-level product aimed at price-conscious consumers, before floating the company on the London Stock Exchange’s main market in 2024.
Applied Nutrition recently revealed plans to create another 20 jobs after securing a long-term lease on a new 53,000 sq ft facility on Knowsley Industrial Estate, which will be called K53.