Next Science Ltd’s Rebooted Sales Strategy: How Cutting Costs Boosted Revenue and EBITDA

Next Science Ltd (AU:NXS) recently announced that it had made significant changes to its sales team in order to cut costs and improve efficiency, with the goal of saving approximately US$6 million annually. Despite this restructuring, the company has reported an increase in product sales and a strong gross margin. This has given Next Science Ltd confidence in meeting its FY24 revenue guidance of US$36m-$40m. Furthermore, the company anticipates achieving EBITDA and cashflow positivity in the second half of the fiscal year.

The strategic shift in the sales force includes transitioning to a flexible, commission-based structure. This change is part of Next Science Ltd’s efforts to capitalize on new market opportunities and drive future growth. Investors interested in learning more about AU:NXS stock can visit TipRanks’ Stock Analysis page for additional insights.