Financial services firm Forvis Mazars highlighted the need for Spotlight to discharge liabilities accrued from cumulative convertible redeemable preference (CCRP) shares held by a firm called Florimond Ltd, which counts several directors from investor Development Capital Fund (DCF), commencing from July 5.<\/p>\n
In 2021, DCF invested \u20ac12m in Spotlight to fund its international expansion. Forvis Mazars added in the auditor\u2019s report that the fair value of these shares, which can be used to invest in early-stage companies, was over \u20ac10.1m as of June 30, 2025.<\/p>\n
Due to these liabilities, the auditor indicated that a \u201cmaterial uncertainty exists, that may cast significant doubt\u201d on the company\u2019s ability to continue as a going concern.<\/p>\n
\u200bDespite the warning, Spotlight Oral Care said it had entered talks with Florimond about the shares. The discussions intend to reach \u201can appropriate arrangement to discharge the CCRP shares liability and crystallise value for Florimond Ltd\u2019s ordinary share investment\u201d.<\/p>\n
Talks are ongoing, it is understood.<\/p>\n
Sales at Spotlight grew to \u20ac19.1m for the year 2024\/25, up by \u20ac2m<\/p>\n
In a note accompanying its annual results, directors for Spotlight said that they were not aware of any reason why an arrangement could not be achieved. As a result, the directors believed the firm would have adequate resources to continue for the year ahead.<\/p>\n
Spotlight\u2019s financial results showed the company hit a profit of over \u20ac417,000 for the year ended June 30, 2025. This was up from an almost \u20ac890,500 loss the previous year.<\/p>\n
Sales at Spotlight also grew to \u20ac19.1m, up by around \u20ac2m.<\/p>\n
Vanessa Creaven, chief executive and co-founder of Spotlight Oral Care, said she was delighted with the 2025 results, highlighting the return to profitability. She noted the firm\u2019s \u201cMade By Dentists\u201d brand had launched across 4,000 Walmart stores in the US.<\/p>\n
\u201cOur founders and core investors are fully aligned on our mission of maximising the transformational US growth opportunities, thereby creating long-term value for our stakeholders,\u201d she added.<\/p>\n
\u201cWe will also continue investing in both our Spotlight Oral Care and Made By Dentists brands in the US, EU and UK as part of our next phase of growth.<\/p>\n
\u201cWe are excited about the next chapter of our business and, ultimately, improving oral care products at home for our customers,\u201d said Creaven.<\/p>\n","protected":false},"excerpt":{"rendered":"Financial services firm Forvis Mazars highlighted the need for Spotlight to discharge liabilities accrued from cumulative convertible redeemable…\n","protected":false},"author":2,"featured_media":418190,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[72,61,60,5913],"class_list":["post-418189","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","tag-business","tag-ie","tag-ireland","tag-sean-pollock"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts\/418189","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/comments?post=418189"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts\/418189\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/media\/418190"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/media?parent=418189"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/categories?post=418189"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/tags?post=418189"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}