Next Science Ltd (AU:NXS) has released an update.
Next Science Ltd has reported a revenue increase of 11% to $11.2m in the first half of FY24, driven by a 21% rise in direct sales of their XPERIENCE product, while achieving a gross profit of $9.0m, a 31% increase from the prior period. The company also saw a significant rise in gross margin to 80% and a reduction in adjusted EBITDA loss to $4.9m, thanks to a strategic shift in sales and reduced R&D costs. With a solid cash balance and no debt, Next Science is on track to reach a cashflow and adjusted EBITDA positive position within the next seven months.
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