Sea Forest revenue up 83% to $2.1M in June quarter

·       Sea Forest (ASX:SEA) reported quarterly revenue of $2.1 million for the period ended June 30, marking an 83% increase from the prior quarter.

·       The company ended the quarter with a cash balance of $12.6 million and total liquidity of $27.6 million.

·       Sea Forest stated that the strong financial position provides a solid foundation for its long-term growth strategy and product commercialisation.

Sea Forest (ASX:SEA) reported quarterly revenue of $2.1 million for the period ended June 30, representing an 83% increase from the prior quarter.

The revenue increase was driven by expanded SeaFeed supplementation volumes across the company's growing customer base.

The company stated that the strong financial position provides a solid foundation for the business's long-term growth strategy, continued product commercialisation, and market expansion activities.

During the quarter, Sea Forest ended the period with 131,000 grain-fed cattle under agreement, which was an 11% increase from the prior quarter.

The company also began commissioning its first regional mixing and distribution centre in Newcastle, New South Wales, with a capacity to process and distribute up to 5,000 tonnes of product per annum.

Sea Forest operates as an agricultural biotechnology company developing and commercialising a methane-reducing feed supplement for livestock.

Following the announcement, the Sea Forest share price was unchanged at $2.16.