Bubs Australia
Bubs Australia Limited (ASX: BUBSF) is an Australian-listed infant formula and toddler nutrition company selling clean-label goat milk, organic grass-fed, and premium Supreme formulas through its own e-commerce site, US retail chains (62% of revenue), and international partners across seven markets.
- Company typePublic
- Founded2006
- HeadquartersFrances, Australia
- Headcount51–100
- GTM typeB2C
- OfferingHardware or Manufacturing
What Bubs Australia does
Bubs Australia Limited (ASX: BUBSF) is a publicly listed Australian infant formula and toddler nutrition company founded in 2006 and headquartered in Dandenong South, Victoria. The company develops, blends, and packages specialty infant formula through its own secure manufacturing facility in Victoria, with a portfolio spanning four sub-brands: Bubs Easy-digest Goat Milk (Australia's claimed No. 1 goat milk toddler drink), Bubs Organic Grass Fed (365-day grass-fed cow milk), Bubs Essential Cows Milk, and the premium Bubs Supreme range. Core technology centers on naturally occurring A2 beta-casein protein formulations (goat and selected cow milk) combined with a proprietary symbiotic prebiotic + probiotic blend (GOS, FOS, Bifidobacterium longum BB536), DHA, ARA, and lutein; the entire range carries the Clean Label Project Purity Award for independent testing against 400+ toxins and contaminants.
Bubs operates a hybrid business model combining direct-to-consumer e-commerce via its Shopify-based Australian storefront (with subscription auto-delivery at 10% discount and minimum 2-can orders), wholesale distribution to physical retail chains (most prominently in the US where it holds ~8% of the premium natural infant formula market across 5,500 to 8,500+ stores), and country-specific retail partnerships across China, Singapore, Malaysia, Vietnam, and Japan. Pricing is tiered from A$35 (Organic Grass Fed Stage 1) to A$42 (Goat Milk Stage 1) to A$62 (Bubs Supreme Stage 1) per can, with a 50% gross margin achieved in H1 FY26. The US channel generated A$34.2M (62% of group revenue, +48% YoY) in H1 FY26 against headwinds of -27% YoY in China and -9% YoY in Australia.
The company is in a turnaround phase having delivered its first positive underlying EBITDA of A$4.4M in H1 FY26 (versus a prior-period loss of A$0.7M), upgraded FY26 guidance to A$120-125M revenue and A$9-11M EBITDA, and submitted clinical trial data to the US FDA in June 2025 in pursuit of regulated-channel access. Governance was materially reset in 2025-2026 with the appointment of CEO Joe Coote (28 July 2025), a new Chair and Managing Director (15 September 2025), and two new Independent Non-Executive Directors in 2026.
Bubs Australia firmographics
Firmographics- Name
- Bubs Australia
- Legal name
- Bubs Australia Limited
- Website
- https://bubsaustralia.com
- Company type
- Public
- Founded year
- 2006
- Operating status
- Operating
- Headcount range
- 51–100 employees
- Short description
- Bubs Australia Limited (ASX: BUBSF) is an Australian-listed infant formula and toddler nutrition company selling clean-label goat milk, organic grass-fed, and premium Supreme formulas through its own e-commerce site, US retail chains (62% of revenue), and international partners across seven markets.
- Ownership category
- akta.pro rank
Bubs Australia industry classification
Industry- Product category
- Infant Formula and Baby Nutrition
- NAICS
- Dairy Product Manufacturing (3115), Dairy Product (except Frozen) Manufacturing (31151), Food Manufacturing (311)
- SIC
- Dairy Products (2020), Food And Kindred Products (2000)
- akta.pro primary industry
- Follow-On & Growing-Up Milk Formula Manufacturing (Stage 2/3+) (AFAHAHAB)
- akta.pro secondary industries
- Standard Infant Formula Manufacturing (Cow Milk–Based) (AFAHAHAA), Toddler & Pediatric Nutritional Powder Manufacturing (Milk-Based) (AFAHAHAH), Toddler & Growing-Up Milk (12+ months) (CRADAEAC), Specialty & Medical Infant Formula (Hypoallergenic, Lactose-Free, Metabolic) (CRADAEAB), Infant Formula & Specialized Dairy Nutrition Manufacturing (AFAKAKAJ)
Keywords
Where Bubs Australia is headquartered
LocationHeadquarters
- HQ city
- Frances
- HQ country
- Australia
- HQ region
- Oceania
Offices2 records
Markets served
Bubs Australia business model
Business model- GTM type
- B2C
- Offering type
- Hardware or Manufacturing
- Cost components
- Supply Chain, Operations, Personnel, Marketing or Sales, Technology or R&D, Infrastructure
Revenue model
- Direct-to-Consumer Product Sales (E-commerce): One-time purchases of infant formula, toddler milk, and junior nutrition products through the bubsaustralia.com online storefront, paid at checkout. Shipping is a flat $9.90 across Australia with free shipping on orders over $49.99.
- Subscription Auto-Delivery: Monthly auto-delivered subscriptions via the website (initially offered on Bubs Supreme Infant Formula Stage 1). Subscribers save 10% on every order, can modify or cancel anytime, with a minimum order value of 2 cans. Provides recurring revenue and improved customer retention.
- Wholesale / Retail Distribution (US and International): Bulk sales to retail chains, supermarkets, and pharmacy distributors. The US channel (5,500-8,500+ stores) generated $34.2M in H1 FY26 (62% of group revenue, +48% YoY). International markets include China, Singapore, Malaysia, Vietnam, Japan, and Australia.
- Third-Party Online Retail (Chemist Warehouse NZ): Indirect online sales through Chemist Warehouse NZ for New Zealand customers (Bubs does not ship direct to NZ).
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Unit Pricing | Pay-as-you-go | Bubs Goat Milk Infant Formula Stage 1 - $42.00 per 800g can (one-time purchase) |
| Unit Pricing | Pay-as-you-go | Bubs Organic Grass Fed Infant Formula Stage 1 - $35.00 per can (one-time purchase) |
| Hybrid | Monthly | Bubs Supreme Infant Formula Stage 1 - $62.00 per can (one-time or subscription) |
| Subscription | Monthly | Subscription Tier - 10% off recurring monthly auto-delivery |
| Unit Pricing | Pay-as-you-go | Standard AU Shipping - $9.90 flat (free over $49.99) |
Go-to-market motion4 records
Distribution channels5 records
Marketing channels7 records
Bubs Australia product offering
Product offeringCore offering
Bubs Australia manufactures and sells premium infant formula, follow-on formula, toddler milk, and junior nutrition products across four life stages (Stage 1: 0-6 months through Stage 4: junior), offered in goat milk, organic grass-fed cow milk, essential cow milk, and Supreme ranges. Products are blended and packed in the company's own Victoria, Australia facility, certified under the Clean Label Project Purity Award, and sold direct-to-consumer via bubsaustralia.com and through retail chains in Australia, the US, and international markets.
Differentiator
Problem solved
Functional benefit
Brands
- Bubs Organic®: Organic Grass Fed cow milk-based infant formula, follow-on formula, toddler milk, and junior nutrition product line.
- Bubs Supreme™
- Bubs® Easy-digest Goat Milk
- Bubs® Essential Cows Milk
Products and services
- Bubs Easy-digest Goat Milk Infant Formula Stage 1
Quantifiable outcome
- Revenue doubled in three years, with consecutive profits delivered
- +5 more outcomes
Companies that use Bubs Australia
Customer profileSegments4 records
Ideal customer profiles4 records
Bubs Australia technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Integration8 records
Feature5 records
Bubs Australia partnerships and signals
Strategic signalPartnerships
Two partnerships are on record, tiered minor and core.
- Chemist Warehouse NZminorChemist Warehouse NZ operates as Bubs' recommended online retail partner for New Zealand customers, since Bubs does not offer direct shipping to NZ. The partnership redirects NZ consumer demand from the Bubs website to Chemist Warehouse's online storefront.
- Clean Label ProjectcoreBubs partners with Clean Label Project for independent testing and certification of its infant formulas. Clean Label Project Purity Award certification is displayed across the Bubs product range, validating testing for 400+ toxins and contaminants including heavy metals.
Scale indicators13 records
Recent moves6 records
Expansion highlights6 records
Bubs Australia competitors and assessment
Company assessmentEmerging players
- HiPP: German family-owned organic baby food and formula maker; comparable to Bubs on organic credentials, European manufacturing heritage, and international premium distribution.
- Bobbie: US-based organic infant formula start-up; emerging peer competing with Bubs in the US premium natural infant formula category and increasingly present in national retail.
- Holle: Swiss organic Demeter-certified infant formula brand with strong premium and clean-label positioning; comparable to Bubs' Supreme/organic grass-fed ranges in international and US natural channels.
- Sprout Organic: Australian organic baby food brand expanding into infant and toddler nutrition; an adjacent peer in the premium Australian baby food category where Bubs also competes.
Broad incumbents
- Danone (Aptamil): Global dairy and infant nutrition incumbent selling Aptamil; broader portfolio that overlaps with Bubs in Australia, China, and Southeast Asia across all infant formula stages.
- Nestlé (Nan / NAN / Karicare): Global infant formula incumbent (Nan, Karicare) with broad presence in Australia and Southeast Asia; serves as the scale incumbent against which Bubs' premium natural positioning is differentiated.
Direct peers
- The a2 Milk Company: New Zealand-listed dairy company built around A2 beta-casein protein, directly comparable to Bubs' A2 goat/cow milk positioning and premium clean-label strategy in infant formula and toddler nutrition across Australia and Asia.
- Kendal Nutricare (Kendamil): UK-based premium infant formula brand (Kendamil) that gained significant US shelf space following the 2022 US formula shortage; directly competes with Bubs in the US premium natural infant formula category.
- Bellamy's Organic: Tasmania-based organic infant formula brand (now owned by China Mengniu); competes head-to-head with Bubs in Australian and Chinese premium organic infant formula segments.
- Nuchev (Oli6): Australian goat milk formula and nutrition brand; directly overlaps with Bubs' Easy-digest Goat Milk range in Australia and Asian markets.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks6 records
Key highlights6 records
Customer concentration
Bubs Australia social profiles
Digital presenceBubs Australia financial estimates
Financial estimateRevenue estimate
Valuation estimate
Bubs Australia leadership team
Management profileNumber of profiles
Profiles6 records
Bubs Australia subsidiaries and ownership
Company hierarchySubsidiaries1 record
Bubs Australia funding detail
Funding detailFunding overview
Funding rounds3 records
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Bubs Australia M&A and investment
M&A and investmentM&A2 records
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Bubs Australia
What does Bubs Australia do?
Bubs Australia manufactures and sells premium infant formula, follow-on formula, toddler milk, and junior nutrition products across four life stages (Stage 1: 0-6 months through Stage 4: junior), offered in goat milk, organic grass-fed cow milk, essential cow milk, and Supreme ranges. Products are blended and packed in the company's own Victoria, Australia facility, certified under the Clean Label Project Purity Award, and sold direct-to-consumer via bubsaustralia.com and through retail chains in Australia, the US, and international markets.
Is Bubs Australia a public or private company?
Bubs Australia is a public company. It is classified as public and is currently operating.
When was Bubs Australia founded?
Bubs Australia was founded in 2006. It employs 51 to 100 people.
Where is Bubs Australia based?
Bubs Australia is headquartered in Frances, Australia, in the Oceania region.
How does Bubs Australia make money?
Four revenue lines are on record. Direct-to-Consumer Product Sales (E-commerce) is the primary driver. The others are subscription Auto-Delivery, wholesale / Retail Distribution (US and International) and third-Party Online Retail (Chemist Warehouse NZ).
Who are Bubs Australia's main competitors?
Emerging players on record are HiPP, Bobbie, Holle and Sprout Organic. Broad incumbents are Danone (Aptamil) and Nestlé (Nan / NAN / Karicare). Direct peers are The a2 Milk Company, Kendal Nutricare (Kendamil), Bellamy's Organic and Nuchev (Oli6).
Does Bubs Australia have an API?
No public API is recorded for Bubs Australia.
What industry is Bubs Australia in?
Bubs Australia's product category is Infant Formula and Baby Nutrition. Its primary akta.pro industry code is AFAHAHAB, Follow-On & Growing-Up Milk Formula Manufacturing (Stage 2/3+), with a secondary code of AFAHAHAA, Standard Infant Formula Manufacturing (Cow Milk–Based). Its NAICS code is 3115 and its SIC code is 2020.