We are pleased to share Wellnex Life (ASX: WNX), owner and developer of some of Australia's leading health brands, has recently released a key ASX announcement.
Wellnex Life Limited (ASX: WNX) (“Wellnex” or “the Company”) is pleased to provide a trading and UK IPO update for what is a transformational period for the Company.
Announcement Highlights
- Revenue for January and February 2025 up 89% to $4.15 million compared to the same period 12 months earlier (PCP) ($2.19 million), with brand sales up 46% to $2.96 million compared to PCP and IP licensing up 600% to $1.19 million compared to PCP.
- Gross margin for January and February 2025 up 45% to $1.44 million compared to the PCP ($0.99 million), with normalised operational profit in the month of February 2025 of circa $220,000, contributing to an overall improvement for the first 2 months of 92%, with a normalised loss of $35,000 for January and February 2025 compared to a loss of $370,000 for the PCP.
- The proposed dual listing of Wellnex on the AIM market of the London Stock Exchange is in the final stages with the proposed publication of the AIM Admission Document expected early next week.
- Pain Away deferred consideration has been moved back to 21 March 2025 to match the expected timeline of the dual listing on the AIM market.
- Completion of the AIM listing would recapitalise the business, removing the Pain Away deferred consideration and convertible note debt, leaving the Company with a stronger balance sheet and high-margin growth business.
Wellnex Life's Joint Managing Director Zack Bozinovski said:
“We continue to see growth across the whole business in both brands and IP licensing and we are confident that this will continue, which will build on the profitability of the business. This will also be strengthened by the recapitalizing of the balance sheet and the removal of c. $13 million in liabilities with the expected dual listing on the AIM market of the LSE.”
Congratulations to George Karafotias, Zack Bozinovski, the board and the team at Wellnex Life for reaching this significant milestone.
Read the full Wellnex Life ASX announcement here.
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