EZZ Life Science Holdings (ASX: $EZZ) Quarterly Report Overview

EZZ Life Science Holdings Limited (ASX: $EZZ) has released its quarterly activity report and Appendix 4C cash flow statement for the quarter ended 30 June 2024 (Q4 FY24). The report highlights a 70.3% increase in customer receipts totaling $23.0m for Q4 FY24, a robust cash position with a balance of $19.0m at 30 June 2024, and no debt. EZZ also announced and paid a fully franked interim dividend of $0.015 per share during the quarter, demonstrating its commitment to returning value to shareholders.

Executive Commentary on Q4 FY24 Performance

EZZ achieved an impressive cash inflow of approximately $23.0m from customers in Q4 FY24, representing a significant 70.3% increase compared to the corresponding quarter last year. This strong growth is primarily attributable to sales on Douyin (China's TikTok equivalent). Our investments in data optimization, SEO activities, and influencer engagement have resulted in strong growth across most of our distribution channels. Notably, sales on Douyin reached $14.0 million in the quarter, marking a year-over-year increase of 105.9%. Alibaba Group's Tmall remains our second largest channel with sales of $3.8m in Q4 FY24. We are pleased to have renewed the Distribution Agreement with Australian United Pharmaceuticals (AUP) as the distributor of EAORON-branded products for a further period of three years. The launch of five new health and wellness products during the quarter reflects our commitment to offering diverse options and enhancing lifestyle choices.

Summary of Quarterly Report and Outlook

EZZ Life Science Holdings (ASX: $EZZ) reported a strong performance in Q4 FY24, with a 70.3% increase in customer receipts and a robust cash position of $19.0m at 30 June 2024. The company's strategic investments in data optimization, SEO activities, and influencer engagement have resulted in significant sales growth across various distribution channels, particularly on Douyin and Alibaba Group's Tmall. The renewed Distribution Agreement with Australian United Pharmaceuticals (AUP) and the launch of five new health and wellness products demonstrate EZZ's commitment to expanding its product range and market presence. With no debt and a strong balance sheet, EZZ is well-positioned to continue implementing its strategic plan and accelerating growth initiatives.