⚠ This dashboard is for discussion purposes only. Financials in Malaysian Ringgit (MYR) unless stated. USD equivalent at RM 4.10/USD. Data sourced from AKARALI Enterprise bank statements, sales records, and cost ledger Jan–May 2026.
Monthly Revenue Run Rate
RM 495,000
≈ USD 120,700/mo
Gross Margin
47.75%
RM 236,377 / month
EBITDA Margin
46.23%
RM 228,848 / month
Annualized Revenue
RM 5.94M
≈ USD 1.45M
Active Markets
5
US · AU · UK · SG · MY
Key Performance Indicators
Monthly Revenue
RM 495K
avg Jan–May 2026
▲ vs 2025
Annualized Rev
RM 5.94M
run-rate basis
≈ USD 1.45M
Gross Margin
47.75%
RM 236K/month
Above industry
EBITDA Margin
46.23%
RM 228K/month
Zero mktg spend
Revenue Growth
+105%
H1 2026 vs H1 2025
CAGR 42%
UK Revenue
RM 68.8K
Apr 2026 (launched Feb)
▲ +432% in 3mo
Revenue Performance — Jan to May 2026
Monthly Revenue Trend (MYR)
Earned Basis
Revenue Mix by Channel (Monthly Avg)
| akarali.com DTC |
RM 174,079 |
|
| Amazon USA |
RM 149,824 |
|
| Australia |
RM 117,412 |
|
| UK New |
RM 42,948 |
|
| Singapore New |
RM 10,737 |
|
Profit & Loss Summary — Monthly Average & Annualized
P&L Statement (MYR)
| Item |
Monthly |
Annualized |
% Revenue |
| Revenue |
| Total Revenue |
495,000 |
5,940,000 |
100.0% |
| Cost of Sales |
| ↳ Product (Biotropics) | (123,207) | (1,478,484) | 24.9% |
| ↳ DHL Logistics (Global) | (91,652) | (1,099,829) | 18.5% |
| ↳ Amazon FBA (USA) | (34,460) | (413,520) | 7.0% |
| ↳ J&J Fulfilment (UK) | (6,894) | (82,728) | 1.4% |
| ↳ Digital & Postage | (2,410) | (28,920) | 0.5% |
| Total COGS | (258,623) | (3,103,481) | 52.25% |
| Gross Profit |
236,377 |
2,836,519 |
47.75% |
| Operating Expenses |
| ↳ Loan Repayment | (2,712) | (32,544) | 0.55% |
| ↳ Subscriptions | (1,084) | (13,008) | 0.22% |
| ↳ Marketing (Sponsorship) | (3,733) | (44,796) | 0.75% |
| Total OpEx | (7,529) | (90,348) | 1.52% |
| EBITDA |
228,848 |
2,746,171 |
46.23% |
Cost Structure — COGS Breakdown
Key insight: Logistics (DHL + FBA + J&J) = 51.4% of COGS. Optimising freight through 3PL consolidation or regional warehousing could expand gross margin by 5–9 pp.
Channel Growth Spotlight
UK Channel Growth (akarali.co.uk)
Launched Feb 2026
UK DTC launched February 2026. Revenue grew from RM 12,925 (Feb) to RM 68,778 (Apr) — a +432% surge in 3 months with zero paid marketing. Singapore DTC launched May 2026 and is tracking similarly.
Cash Flow Summary — Jan to Apr 2026 (Actual Bank)
⚠ Cash inflows reflect bank receipt dates (30–45 day Amazon/PayPal settlement lag). Earned revenue is higher. Net cash surplus maintained throughout Jan–Apr 2026.
FY2026 Revenue & EBITDA Projections — Scenario Analysis
⚠ Worst Case — H2 +10%
RM 6.24M
Full-year revenue
◉ Base Case — H2 +35%
RM 6.98M
Full-year revenue
★ Best Case — H2 +65%
RM 7.87M
Full-year revenue
FY2026 Revenue Projection vs Historical (RM millions)
H1 Actual (confirmed) + H2 Scenarios
* 2024 disrupted by AKARALI UK Ltd closure
Capsule Production Volume — Historical, H1 Actual & Projection (Source: Biotropics Malaysia)
Total Capsules Produced & Sold · 2021–2028E
Confirmed 2021–H1 2026 · 3-scenario FY2026 · Base-case FY2027–28E
Historical confirmed (Biotropics)
H1 2026 actual (confirmed)
FY2027–28 Base projection
* 2024 disrupted by AKARALI UK temporary closure
2021–2025 CAGR: 42% (confirmed, Biotropics records)
Industry avg CAGR: General health 3–8% · Sports 8–12%
FY2026 base projection: 1,748,400 caps (+39.1% YoY)
H1 2026 vs H1 2025: 744,000 vs 362,520 caps (+105.2%)
FY2027 base projection: 2,360,340 caps (+35% on FY2026B)
FY2028 base projection: 3,021,235 caps (+28% on FY2027B)
Year-on-Year Capsule Volume — Full Timeline
| Year |
Capsules |
YoY Growth |
vs Industry (8–12% avg) |
Note |
| 2021 | 309,960 | — | Base year | Launch |
| 2022 | 640,080 | +106.5% | 8.9× industry | Rapid scale |
| 2023 | 817,050 | +27.6% | 2.3× industry | Sustained |
| 2024* | 649,320 | −20.5% | Disruption | UK closure |
| 2025 | 1,256,520 | +93.5% | 7.8× industry | Strong rebound |
| H1 2026 ✓ | 744,000 | +105.2% (vs H1'25) | 8.8× industry | Confirmed actual |
| 2026 ⚠ Worst | 1,562,400 | +24.3% | 2.0× industry | H2 +10% on H1 |
| 2026 ◉ Base | 1,748,400 | +39.1% | 3.3× industry | H2 +35% on H1 |
| 2026 ★ Best | 1,971,600 | +56.9% | 4.7× industry | H2 +65% on H1 |
| 2027E (Base) | 2,360,340 | +35.0% | 2.9× industry | Projection |
| 2028E (Base) | 3,021,235 | +28.0% | 2.3× industry | Projection |
Valuation Analysis — Three Methods × Three Scenarios
Method 1 Revenue Multiple
Applied to NTM revenue.
Worst: 2.5× (financial buyer, no premium)
Base: 4.5× (growth equity, DTC comps)
Best: 7.0× (strategic acquisition)
Benchmarks: AG1 ~5×, Vital Proteins ~6–8×, early-stage DTC 3–5×
Method 2 EBITDA Multiple
Applied to annualized EBITDA.
Worst: 8× (conservative private M&A)
Base: 12× (high-margin DTC brand)
Best: 16× (strategic + IP premium)
46.23% EBITDA margin is top-decile for DTC supplement brands
Method 3 DCF (5-Year)
FCF discounted at scenario WACC.
Worst: WACC 22%, TGR 4%, growth 6–15%/yr
Base: WACC 20%, TGR 5%, growth 14–35%/yr
Best: WACC 18%, TGR 6%, growth 20–50%/yr
Best case applies 35% illiquidity/size discount to PV sum
Enterprise Value — Summary (MYR)
| Valuation Method |
Multiple / Basis |
⚠ Worst Case |
◉ Base Case |
★ Best Case |
USD (Base) |
| Revenue Multiple NTM Revenue |
2.5× / 4.5× / 7.0× |
RM 15.6M |
RM 31.4M |
RM 55.1M |
~$7.7M |
| EBITDA Multiple Annlzd EBITDA |
8× / 12× / 16× |
RM 23.1M |
RM 38.7M |
RM 58.2M |
~$9.4M |
| DCF Analysis 5-Year FCF |
WACC 18–22% |
RM 16.9M |
RM 35.8M |
RM 45.9M |
~$8.7M |
| Blended Average (Equal Weight) |
RM 18.5M |
RM 35.3M |
RM 53.1M |
~$8.6M |
Recommended anchor: Base case blended of RM 35.3M (~USD 8.6M) is defensible against comparable transactions for a DTC supplement brand with 40%+ CAGR, ~46% EBITDA margins, proprietary Physta® IP, and zero paid marketing. Upside to RM 53M+ with full channel activation (TikTok Shop, UK scale-up, B2B/wholesale). Prior pitch deck anchored at RM 22–34M — H1 2026 actuals support revision upward.
Valuation Range Comparison — All Methods (RM Millions)
Intellectual Property (IP) Valuation — AKARALI Brand & Asset Portfolio
IP Asset Inventory — 5 Distinct IP Layers
| Asset & Description |
Type |
Est. Value (RM) |
|
Physta® Distribution License
Distribution license for Physta® standardised Tongkat Ali extract from Biotropics Malaysia. Backed by 7+ peer-reviewed RCTs supporting the clinical efficacy of the extract.
|
License |
2.0M – 3.5M |
|
AKARALI Trademark (6 Jurisdictions)
Registered across MY, US, UK, AU, SG, EU. Average 4.7★ rating across 410+ verified reviews (Trustpilot + Amazon). Strong brand equity with zero paid advertising.
|
Trademark |
1.5M – 2.5M |
|
Proprietary Formulation Know-how
Specific Physta® concentration ratio, clinical dosing protocol (200mg / 400mg), encapsulation specs, and manufacturing QC standards developed over 4+ years.
|
Know-how |
500K – 1.0M |
|
Premium Domain Portfolio (4 Domains)
akarali.com · akarali.co.uk · akarali.com.au · akarali.sg — short, brandable, market-specific TLDs with established domain authority and indexed content.
|
Digital IP |
200K – 500K |
|
Customer Data & Review Corpus
Estimated 10,000+ subscriber email list, 5-market purchase history, 410+ verified reviews, and multi-year organic SEO content library — a 4-year data moat.
|
Data Asset |
300K – 800K |
| Total IP Portfolio |
|
4.5M – 8.3M |
IP Valuation — Three Standard Methods
Method A — Relief from Royalty (RfR)
Estimates the IP value as the PV of royalties AKARALI would pay to license its own brand if it didn't own it. Industry-standard for brand/trademark valuation.
Royalty rate: 7% of net revenue · Horizon: 5 years (FY2027–31)
Discount rate: 18% · Terminal growth: 5% · Tax: 24% (MY corp)
PV of post-tax royalties (base revenue)
RM 6.0M
Method B — Replacement Cost (Floor Value)
Cost to reconstruct AKARALI's IP portfolio from zero: trademarks, clinical studies, Physta® license negotiation, brand buildout, domain acquisition, review accumulation, regulatory filings.
Trademark (6 jurisdictions + legal)RM 300K
Physta® license acquisition (fresh entrant)RM 750K
3× clinical studies equivalentRM 1.5M
Brand, domains, review corpusRM 1.0M
Regulatory filings (6 markets)RM 350K
Total (Floor)RM 3.9M
Method C — Market Comparable
Premium supplement brand IP transactions benchmark at 1.0–1.3× annual revenue for established DTC brands with proprietary ingredients.
Revenue base: RM 5.94M → Range: RM 5.9M – RM 7.7M
Midpoint market comparable (1.15×)
RM 6.8M
IP Value by Method & Contribution to Total Enterprise Value
IP Valuation by Method (RM Millions)
Blended IP Value (RfR + Market Comp, equal weight)
RM 6.4M
≈ USD 1.56M · Range: RM 3.9M → RM 7.7M
Why IP is separately valued in M&A:
→ Acquirers pay premium for durable competitive moats
→ Multi-jurisdiction trademarks de-risk entry into 6 markets
→ Clinical evidence library reduces acquirer's regulatory cost
→ Customer data has standalone monetisable value
Operations EV (Base Case)
RM 35.3M
3-method blended · base scenario
+
IP Portfolio (Blended)
RM 6.4M
Relief from Royalty + Market Comp
=
Total Enterprise Value
RM 41.7M
≈ USD 10.2M · IP contributes +18.1% to EV
Note on IP additionality: The IP value of RM 6.4M is additive to — not embedded in — the operating EV derived from Revenue Multiple, EBITDA Multiple, and DCF above. In strategic supplement brand acquisitions (Nestlé/Vital Proteins, Unilever/OLLY, KSF/Athletic Greens), brand IP and proprietary ingredient rights are consistently valued and transacted as a distinct asset class. The Physta® distribution license and AKARALI's multi-jurisdiction trademark portfolio represent the core IP value drivers, underpinned by clinical validation, brand equity, and established customer data across five markets.
Investment Highlights
Why AKARALI — Bull Case
📈Hypergrowth, zero CAC. 42% CAGR since 2021 with zero paid marketing budget — every sale is organically driven, making the growth exceptionally capital-efficient.
🌍5-market DTC presence. Revenue now diversified across US, AU, UK (launched Feb '26), SG (launched May '26), and MY. UK grew 432% in 3 months with no paid advertising.
💊Clinically validated Physta® formulation. Clinical-grade Tongkat Ali, supplied by Biotropics Malaysia — scientifically validated and trademarked in 6 jurisdictions.
💰46.23% EBITDA margin (top-decile for DTC supplement brand). RM 228,848/month EBITDA on RM 495,000 revenue is exceptional unit economics.
🚀Untapped channel upside. TikTok Shop not yet activated. Amazon UK not yet operational. Wholesale/B2B not yet pursued. Significant growth levers remain uncapitalized.
Risk Factors — Mitigants
⚠️Logistics cost concentration. DHL = 35.4% of COGS. Mitigant: 3PL regional hub strategy being evaluated (UK + US).
⚠️Amazon channel dependency. USA Amazon = 30.3% of revenue. Mitigant: DTC (akarali.com) is 35.2% and growing faster.
⚠️Single-SKU category concentration. Core Tongkat Ali product drives majority of revenue. Mitigant: AKA WOMEN, KOFFEE, Extract in pipeline.
⚠️Sub-scale revenue base. RM 5.94M annualized is early-stage for institutional investment. Mitigant: Growth trajectory supports 2× revenue within 18 months at base case.
⚠️Regulatory risk (UK FSA novel food). UK novel food authorisation pending for Physta®. Mitigant: Application in progress, interim sales compliant.
