EZZ has delivered strong financial and operational results in Q3 FY23, building on the momentum of the previous quarter as it sets the stage for further growth.

Genomic life science company EZZ Life Science Holdings (ASX:EZZ) has announced a solid Q3 FY23 result including cash receipts from customers totalling $11.2 million, a 30% increase from the previous quarter and a 182% increase on the same period last year.

Among other financial highlights of the quarter:

  • Operating cash flows increased significantly by 371% from the previous quarter to $2.8m
  • EZZ’s cash position remains strong at $12.3 million at the end of Q3, an increase of ~$2.7 million compared to the previous quarter.

EZZ said the growth in receipts from customers was primarily driven by the expansion of new e-commerce distribution channels in international markets.

The improvement in operating cash flows was due to the increase in customer receipts and lower expenditure on advertising and marketing activities.

Operational highlights from Q3 FY23 include:

  • Release of four new core products and two non-core products
  • Expanded distribution capabilities and presence on three new e-commerce platforms during the quarter, including Amazon Australia, eBay Australia, and Pinduoduo China
  • Inked a deal with University of Auckland New Zealand for a second ground-breaking anti-aging and immune stimulation study
  • Entered into a tripartite agreement with leading multinational pharmaceutical companies GMP Pharmaceuticals and Natural Innovations Group with an aim to bring new wellness innovation solutions to market
  • EZZ brand EAORON launched six new products with Chemist Warehouse for distribution across 350 stores nationally
  • EZZ held an event at the Sydney Opera House in February with 20 influencers on Douyin (China’sTikTok) and 30 EZZ distributors attending.

Strong quarter financially and operationally

During Q3 EZZ launched four new core products and two non-core products including EZZ Children’s Eye Health, EZZ Magnesium Plus, EZZ Sugar Metabolism, EZZ Liver Detox, EZZ Hair Protector and EZZ Complexion Refresh.

EZZ signed an agreement with the University of Auckland for a second anti-aging immune-stimulation study.

The project started in January 2023 and will conclude with a final report due on January 20, 2026.

In February 2023, EZZ entered into a tripartite deal with leading multinational pharmaceutical companies GMP Pharmaceuticals and Natural Innovations group.

The partnership aims to bring new wellness innovation solutions to the market, driven by a shared passion to improve health and wellbeing, with a goal to extend lifespan and promote genetic longevity.

EAORON also announced the launch of an updated product line to be stocked in Chemist Warehouse stores across Australia.

The launch includes six new products, including the Hyaluronic Acid Glutathione Essence Face Mask and Hyaluronic Acid Glutathione Essence, and an upgrade to its one-of-a-kind product EAORON HA Collagen Essence V.

Additionally, EAORON’s updated line of products will also be available through Chemist Warehouse’s online store.

This article was developed in collaboration with EZZ Life Sciences,  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.