EZZ receipts from customers up 111% on pcp in Q3 FY24 to $23.6 million
Cash balance up 15% over previous quarter to $14.5 million with no debt
EZZ launches four new products in Q3 FY24, bringing total to more than 50
Special Report: EZZ Life Science has reported receipts from customers of $23.6m for Q3 FY24, up 111% on the prior corresponding period, as it launches four new EZZ health and wellness products.
Genomic life science company EZZ Life Science (ASX: EZZ) has reported a strong Q3 FY24 with operating cash flows remaining positive at $2.04m representing a 372% increase from the last quarter.
The company also recorded a 15% increase in cash balance over the previous quarter to $14.5m at March 31, 2024, with no debt.
EZZ says the rise in cash balance over the previous quarter reflects the strong improvement in its operating cashflow achieved this quarter. With a strong balance sheet, the company continues the implementation of its strategic plan and accelerating growth.
EZZ says a substantial portion of the cash inflow arises from delayed payments, indicating the realisation of prior investments in advertising and manufacturing expenses.
The company says a substantial portion of the cash inflow arises from delayed payments, indicating the realisation of prior investments in advertising and manufacturing expenses.
EZZ says its expanding presence on Douyin has also significantly contributed to sales growth, demonstrating the potential of the burgeoning platform for ecommerce in China to drive future revenue growth.
Progress on various fronts
EZZ has a focus on genomic research and development to address four key human health challenges including genetic longevity, human papillomavirus (HPV), children’s care, and weight management.
During Q3 FY24 EZZ continued to expand its distribution channel. The company started trading in new duty-free channels, including DHS Duty Free and Lotte Duty Free.
An advertising partnership with the Asia Pacific Aviator Club and participation in key trade shows further strengthened the Company’s market presence and brand visibility.
During the quarter, four new EZZ health and wellness products were launched including:
EZZ Children’s Essential Miner
EZZ Detoxifying Lung Tablets
EZZ Sugar Metabolism
EZZ Mount Peak III
EZZ says the latest product additions cater to consumer demands for innovative solutions, reflecting its commitment to diverse options and improved lifestyle choices.
The company now has more than 50 EZZ-branded products. It also has exclusive distribution rights for the EAORON brand of skin care products to pharmacies, supermarkets and specialist retailers in Australia and New Zealand.
In March, EZZ exhibited at Alibaba Group’s ‘AliExpo’ in Sydney which attracted more than 12,000 visitors over the course of the two-day event along with APP Conference on the Gold Coast.
The Queensland event brought together more than 7,000 pharmacists and healthcare industry professionals to discuss market trends and industry developments.
During Q3 FY24, EZZ Life Science hosted Hu Bing, regarded as one of China’s most renowned male models, in Sydney to showcase the EAORON range of products to some of his 20 million followers across his social platforms.
The company also hosted Yuanyuan in Sydney – regarded as one of China’s top influencers. Yuanyuan held a livestream with some of her 20 million followers on Douyin to showcase the benefits of the EAORON skincare range.
This article was developed in collaboration with EZZ Life Science, a Stockhead advertiser at the time of publishing.
This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.
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