Wellnex Life reports record $3m in monthly sales as it pursues dual listing on LSE

Wellnex Life (ASX: WNX) has reported record sales of $3 million per month for November and December 2024, with 56% of the revenue coming from its own high-margin brands.

The total of $11.94m in sales for the first half of the financial year 2025 represented an increase of 112% against the $5.63m recorded in the previous corresponding period (pcp).

Brand sales for the six months to December were up 182% from $3m to $8.47m, while intellectual property licensing increased 64% from $2.12m to $3.47m.

Cash receipts

Cash receipts for the three months to December totalled $3.89m, representing an increase of 36% from $2.85 million in the pcp.

An additional $1.2m from November sales was received in January due to Christmas-related delays, resulting in a net cash loss for the quarter of $2.53m compared to an $800,000 loss in the previous year.

Wellnex reduced its marketing and advertising spend during the quarter from $980,000 in the pcp to $360,000, while production and operating spend remained in line with the previous quarter’s total of $3.04m.

First UK order

In August, Wellnex received its first UK order for a paracetamol soft gel liquid analgesic from British consumer healthcare company Haleon.

The product will be produced under the Panadol pain relief brand, which Haleon owns.

The expansion into the UK market builds on Wellnex’s Australian market launch in 2023 and is considered a significant milestone for the company.

“It is recognition that an innovative product registered with the Therapeutic Goods Administration in Australia is being supplied to one of the world’s largest consumer health businesses,” the company said at the time.

Dual listing

Wellnex has continued to progress its proposed dual listing on the London Stock Exchange (LSE), with clear advancement of workstreams required to commence a UK marketing campaign.

The move – first announced in April – is expected to accelerate the company’s international expansion and provide access to a deeper pool of capital as well as investors with a comprehensive understanding of consumer healthcare.

“Listing on the LSE will provide a platform for our continued growth domestically and internationally and comes at a time when Wellnex will commence taking brands and products to new international markets,” the company said.

Next-generation products

Wellnex Life is a specialist Australian brand and distribution company focused on developing next-generation health and wellness products.

Formerly Wattle Health Australia, the company has grown rapidly since re-listing on the Australian Securities Exchange in 2021, starting at just $1.2m revenue in FY21 to now generating monthly sales of up to $3m.

Wellnex’s re-listing was part of a strategy to reposition the business within a domestic market recently valued at more than $84 billion.