Sea Forest (ASX:SEA) has delivered a robust third-quarter update for the period ended March 31, headlined by a staggering 92% surge in revenue compared to the previous quarter.
Generating $1.1 million in receipts, the Tasmanian-based environmental technology firm attributes this growth to the accelerating commercial adoption of its flagship SeaFeed product, a seaweed-based supplement designed to slash methane emissions in livestock.
The company's operational footprint continues to expand rapidly, announcing that it has secured supply agreements covering 131,000 head of cattle as of late April.
Key milestones this quarter include high-profile partnerships with Avondale Ag and New Agriculture, alongside the launch of the "Regal Wool Collection" in collaboration with Theory.
The retail partnership follows a successful methane-reduction pilot, demonstrating the tangible path from sustainable agricultural practices to low-carbon consumer goods.
Sea Forest reported a notable 44% improvement in net cash outflows from operating activities, which sat at $1.1 million.
Despite the ongoing investment in scaling operations, the company maintains a formidable financial buffer with $8.4 million in cash on hand and total aggregate liquidity of $27.4 million.
Management noted that this capital provides a solid foundation for further commercialisation and the development of regional distribution facilities.
At the time of reporting, Sea Forest’s share price was $2.36.