Bod Australia Ltd (ASX: BDA, “Bod”) have announced their Q3 FY2020 results, which showed a 135% increase in revenue on Q2 FY2020, to A$1.257m.
What are the key highlights?
- $1,257,000 in sales generated for the quarter, which is a 135% increase on Q2 FY 2020 (~$536,000). Additional binding purchase orders of $1m also to be received and invoiced this quarter.
- Revenue for the 9 months of FY2020 totals $3.4m, representing 144% growth on PCP(~$1.4m).
- Q3 FY2020 cash burn decreased by ~62%on PCP and 55% on Q2 FY2020, despite strategic investments in innovation, management and R&D.
- Import permits granted for two new MediCabilis® products which broadens addressable market by ~32% and provides opportunities to further grow prescription volumes.
- Nine hemp seed oil products launched under the Swisse brand into 2,000 stores –stockists include Coles, Chemist Warehouse and Priceline Pharmacies.
- Cash balance of ~$7.2m allows Bod to pursue multiple revenue generating opportunities.