Results for Aussie life science company, EZZ Life Science, demonstrate strong balance sheet
- Written by Tess Sanders Lazarus
Quarter 3 2022 FY results for Aussie life science company, EZZ Life Science, demonstrate strong balance sheet and pipeline of innovative product releases
Australian company, EZZ Life Science Holdings (ASX: EZZ), has released its Quarter 3 2022 financial year results and a comprehensive pipeline of innovative product launches as well as significant new distribution channels globally.
“Despite the headwinds being experienced across the market due to ongoing issues around supply chain disruption and rising transport and manufacturing costs, we are continuing to find ways to reduce input costs and accelerate our program of research and development and the launch of innovative new products,” EZZ Life Science chairman, Glenn Cross said.
“Our efforts, commitment and passion for helping people all over the world to live better lives is resulting in excellent financial outcomes for the business as well.”
Increased revenue
“EZZ Life’s growth strategy is continuing to deliver increased demand for our products both domestically and overseas. Revenue increased to $4 million and we closed the period with a solid cash position of over $10 million in the bank, an increase of $1.4 million on the previous quarter,” Cross said.
Launch of new products and listing on ARTG
“In line with our commitment to innovate and develop new products through a rigorous approach to science based research and development, two further products were listed on the Australian Register of Therapeutic Goods. These include EZZ Man Performance and EZZ Sugar Metabolism,” Cross added.
“Both products were developed in response to our research and consumer insights which identified an increased requirement to meet the needs of men to access therapeutic support for fertility, performance and overall wellness including blood sugar management.
“The Man Performance capsule is formulated to support sperm health and motility. Sperm motility relates to the ability of sperm to move efficiently. This is critical in fertility because sperm needs to travel through the woman's reproductive tract to reach and fertilise eggs. Poor sperm motility can cause male factor infertility.
“Sugar Metabolism is designed to aid in the maintenance of blood vessel health. Both products will be released to the market in June 2022.”
Continuous innovation
“In addition, we also commenced updating the formulation for one of our hero and most popular products, EZZ Daily Energy and Wellbeing, to include Proannthocyanidins, which is extracted from grape seeds and has been shown to bolster antioxidant protection against heart disease and cancer,” Cross explained.
“Continuous innovation through product improvement is a key element of our strategic focus and ensures we are positioned to address the market’s health and wellness requirements and drive strong sales growth.”
International store on Douyin (TikTok China)
Cross also stated that EZZ Life has augmented its global market reach through the establishment of an online international store on Douyin and expects this move to become a key driver for growth moving forwards. TikTok is know as Douyin in China.
“As a global business with a strong strategic focus on growing our market in China, this decision was important to ensure we are part of one of the globe’s fastest growing digital consumer markets,” Cross said.
“Stocks are expected to be delivered to Douyin’s free trading zone warehouse from May 2022 onwards.”
Douyin is overtaking other digital social media and engagement platforms as short form video accelerates in popularity and use across the world. Douyin has already eclipsed Tmall Global in reach with some 670 million users per month.
“As a leading life sciences business, our research clearly shows that consumers across the globe are seeking science backed products to support their health and wellness goals and want ease of access to purchase and receive these products to their front door,” Cross added.
“Our entire business operations are designed to support the market’s wellbeing mindset in a responsive and timely way that leads with innovation, is backed by science, and delivered with convenience – and we expect to continue our growth projectory moving forward.”
About EZZ
EZZ Life Science Holdings Limited (ASX:EZZ) is a genomic life science company based in Sydney, Australia. EZZ focuses on genomic research and development and is passionate about investing in the future of consumer health. EZZ Life formulates, produces and distributes health supplements under the EZZ brand and is also the exclusive wholesale distributor of EAORON branded skin care products in Australia and New Zealand.
www.ezzlife.com.au
www.ezzdna.com.au
