We are pleased to share Wellnex Life (ASX: WNX), owner and developer of some of Australia's leading health brands, has recently published an exciting ASX announcement.
Announcement Highlights
- Revenue for the six months to end of June was $11.1M
- Five consecutive months of organic growth lifting to $2.95M revenue in June
- Significant improvement in gross margins to 40%(18% pcp)
- Expansion of owned product brands Wakey Wakey and Wellness Life to drive further organic growth in H1 2025
- New territories for both Branded and IP Licensing products in FY25
Wellnex Life Limited (ASX: WNX) (“Wellnex” or “the Company”) is pleased to provide an update for the January to June period, which shows continued growth following the transformative acquisition of Pain Away in December 2023.
Since acquiring Pain Away, Wellnex has demonstrated consistent month-to-month sales growth, with net sales in June reaching $2.95 million with a gross margin of 40%.
Totally revenue for Wellnex Life for the January to June period was $11.1M, compared to $14.6M (pcp), with the fall in revenue a strategic decision to transition the business away from low margin Brokerage to higher margin Branded Product sales, while maintaining the IP Licencing (Contract Manufacturing) operations.
Despite the reduction in revenue, gross profits for the period increased 62% to $4.4m ($2.7m pcp) reflecting the changed business mix.
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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