Sea Forest reports 67% quarterly revenue increase

Sea Forest (ASX:SEA) reported quarterly revenue from SeaFeed sales of $3.4 million for the period ended Sept. 30, representing a 67% increase over the previous quarter.

The revenue growth was accompanied by net operating cash inflows of $0.2 million, down from $0.8 million in the fourth quarter of 2026, which had benefited from a one-off $1.9 million R&D tax incentive refund.

The company had 131,000 head of cattle under agreement at the end of September 2026, matching the total from the prior quarter, as cattle are progressively inducted onto supplementation.

Sea Forest Managing Director, CEO and Co-Founder Sam Elsom said, "Partnering with one of Australia’s leading beef processors validates the strength of SeaFeed and demonstrates the industry’s commitment to sustainable, science-backed innovation."

Payments to related parties during the quarter totalled $0.6 million for executive and non-executive director remuneration and short-term incentives in the normal course of business.

Following the announcement, the Sea Forest share price was unchanged at $1.53.

The business closed the period with a cash balance of $12.6 million and an aggregate position of $27.7 million.

After the quarter ended, the company signed a distribution agreement with Teys Australia aiming for an indicative target of 480,000 head of cattle to be supplemented with SeaFeed by June 30, 2027.