We are pleased to share Wellnex Life's (ASX:WNX) announcement highlighting the first operating positive cash flow recorded for a quarter of $304,000 compared to -$2.55M in the previous quarter.
A huge congratulations to George Karafotias, Zack Bozinovski, the board and the team at WNX for reaching this exciting milestone!
30 March 2024: Q3 FY24 Quarterly Report and Appendix 4C
Announcement Highlights
- Cash Receipts for the quarter was $3.12 million with receipts from Pain Away commencing in February.
- First operating positive cashflow recorded for a quarter of $304,000, compared to -$2.55 million in the previous quarter
- Increasing brand sales with the acquisition of Pain Away has increased margins for this quarter to 32% compared to 13% from the prior corresponding period
- Appointment of industry experts to the board of Wellnex increasing its experience and corporate governance
- UK approval received for Wellnex’s TGA registered paracetamol soft gel liquid analgesic to commence sales in the UK with Haleon
- Wellnex signed an international distribution agreement with Homart Pharmaceuticals to take Wellnex’s brands into Asia
Read the full Wellnex Life Half-Year Report & Trading Update here.
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