Nutritional Growth Solutions Q3 FY24 report overview

Nutritional Growth Solutions (ASX:NGS), a health and nutrition company, has published its Q3 FY24 Quarterly Activities Report. The company recorded a revenue of $636K USD, marking a 3.2% decrease from the previous quarter and an 18% fall from the same period last year. This decline is attributed to delays in capital deployment affecting their marketing efforts.

Nutritional Growth Solutions Q3 FY24 summary and future outlook

Nutritional Growth Solutions reported a revenue decrease in Q3 FY24 but projects an increase in Q4 with expected revenues surpassing $1M USD. The company achieved a gross margin improvement to 35.3% and reduced operating expenses by 21% year-over-year. With inventory levels rebuilt, NGS is set to ensure full order fulfillment. They have expanded distribution in China and Vietnam, aiming for significant sales growth. With a cash balance of $104K USD as of September 2024, NGS secured additional funding through a Share Placement and loans. The company aims for profitability in FY25, focusing on cost management and strategic partnerships to achieve positive cash flow by the end of the first half of FY25.

Executive insights from Nutritional Growth Solutions

We are optimistic about our revenue outlook for the coming quarter as marketing activities have resumed and inventory levels are back to support demand. Our strategic partnerships in China and Vietnam are expected to contribute significantly to our growth in the Asian market. We are also in discussions with Walmart to explore new product categories, which could further enhance our revenue streams.