Strategy reset and revenue growth

Blis Technologies Ltd reported strong revenue growth in the first half of the FY23 financial year, with revenue up 10% to $4.3m.

This included a stock buy-back associated with the withdrawal from the Canadian market, with underlying revenue growth at 17%.

Europe reported a significant recovery, with revenue returning to pre-covid levels, while North America saw a 57% decline.

The Company’s cash position improved by $0.2m to $8.8m and royalty income from Probi began accruing at the end of the period.

Asia Pacific revenue increased 33%, with strong NZ sales growth and Japan ingredient sales growing 9%.

The Company is transitioning to a B2B model, with a focus on profitable growth, and has seen encouraging leads in Skin Microbiome and Skincare.