BLIS Technologies reported revenue of $4.8 million for the first half of the financial year ending September 2023, representing an 11% increase compared to the same period last year.
The growth was driven by increased Probi royalty revenue, new private label customers in China, and finished product revenue in NZ Pharmacy retail and the Amazon platform.
The company experienced challenging market conditions globally, with late commitments to ordering and conservative forward ordering by customers due to cost-of-living impacts on product demand.
The company also reported an unaudited loss of $0.7 million, compared to a loss of $1.7 million in the same period last year.
The B2B sales strategy focused on growing and diversifying revenues, with B2B revenue reaching $3.1 million, a 9% increase from the previous year.
B2C revenue was $1.7 million, a 15% increase from the previous year.
The company also announced a licensing agreement with Emma Lewisham for its BLIS Q24® technology in New Zealand, Australia, and the United Kingdom.
Private label sales in the China market were also established as an important contributor to future growth.
The company remains optimistic about its B2B strategy delivering revenue growth, although profitability maySee more