EZZ Life Science’s (ASX: EZZ) fourth quarter results (Q4 FY2022) have been highlighted by a rise in sales, with receipts from customers increasing 16% to $4.6 million compared to the previous quarter.
The genomic life science company aims to improve the quality of life and human health through developing and selling products backed by genomic research and development.
EZZ’s products address four key human health challenges: genetic longevity, human papillomavirus (HPV), helicobacter pylori, and weight management.
The company, which was founded in 2019, remains focused on investing in the future of consumer health through promoting its products and distributing them through e-commerce platforms across Australia, New Zealand, China – expanding worldwide.
In Q4 FY2022, the New South Wales-based company launched a cross-border e-commerce store on Douyin, mainland China’s version of TikTok. This was a large contributor to the rise in receipts from customers during the period – having generated sales of $85,000 within the first 22 days.
The company’s operating cash inflow remained positive during the quarter.
As for the company’s cash position, it remained robust with a balance of over $10 million at 30 June 2022, which included a slight increase of $90,000 in the bank.
China’s 618 shopping festival
During Q4 FY2022, China’s 618 shopping festival was another opportunity to increase revenue from customers and recoup some sales lost to COVID-19.
EZZ’s sales from the festival passed $650,000, with the highlight product being its bone growth capsule. The bone growth capsules were ranked the number one product in its category of children’s nutritional supplements on Tmall Global for sales, generating a total revenue of 1.7 million CNY (A$364,000).
The company has exclusive wholesale distribution rights for the EAORON