BLT - Blis Technologies

Started by Left Field, Jul 14, 2022, 08:37 AM

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Left Field

Fresh start or back to basics..... GLH.

https://www.nzx.com/announcements/395323

The board and management of Blis Technologies Limited (NZX:BLT) have undertaken a review of the company's strategy and business model following the disappointing performance in FY22.

Through focused R&D, Blis has a proven track record in delivering innovative probiotic solutions to the global market. A renewed focus on this core business primarily for global B2B partners will drive scale and return to profitability.

Blis Chair Geoff Plunket commented "While we remain committed to our company purpose "Developing breakthrough probiotic solutions for the health and wellbeing of global consumers" the FY22 result has led us to consider whether a more tightly focussed strategy is appropriate. By sharply critiquing every aspect of Blis' operational and financial performance we have identified what we do best and how we are best to deliver to our purpose".

Blis will make a shift to a narrower operational focus on Business to Business (B2B), establishing partnerships with proven industry operators to commercialise its proprietary technology. This will see Blis move away from direct selling to consumers, other than in New Zealand and the US Amazon platform by the end of the FY23 year.
"

They go on to say....

"Working capital position
Blis' working capital position remains solid, with in excess of $8m in cash reserves the company is well placed to support this strategic change.

Q1 FY23 result
We are also pleased to report the unaudited results for the quarter ending 30 June 2022. Revenue for Q1 FY23 of $2.3m is 29% growth over the same period last year, with an EBITDA loss of $0.3m."

"The difficulty lies not in new ideas... but in escaping from old ideas." (J M Keynes.)

winner (n)

yep, back to drawing board again

Good sales up in Q1 but just as well they didn't say Q1 revenues of $2.3m were 21% less than same quarter two years ago



Golfer01

Brought BLT over 20 years ago telling myself I'll sell them and use the proceeds for my daughters university tuition!! Well they've both finished Uni.... Now I'm thinking of using the proceeds for my retirement but that's only 8 years away.. Fat chance.. So I'll leave them in the will and have my daughters use the proceeds for their children...

Left Field

I've lost patience with this one (sorry Pierre) BLT long gone from my portfolio. Glad I'm out and my money working better elsewhere.
"The difficulty lies not in new ideas... but in escaping from old ideas." (J M Keynes.)

Pierre

Quote from: Left Field on Jul 14, 2022, 10:10 AMI've lost patience with this one (sorry Pierre) BLT long gone from my portfolio. Glad I'm out and my money working better elsewhere.
Can't blame you LF - holding shares in this company has been an absolute trial and a real test of patience. There have been so many promises and so many let downs over so many years.

The tie-up with Probi is the only thing that gives me any confidence these days. I'm certain BLT's "new strategy" will have been driven by Probi and I believe they will make sure it succeeds.

So, I'll continue to hold and hope that one day soon Probi will launch a successful takeover bid.

Left Field

Shifting a few deck chairs on the Titanic while saving costs ..... a smart move?

On 14 July 2022 Blis Technologies announced a refocusing of strategy on core business. In line with this change we have looked at our structure and made changes to our senior leadership team.

Effective immediately Jennifer Walker who previously held the position of Marketing and eCommerce Director has been appointed to the new role of Chief Revenue Officer (CRO) and will provide leadership for all revenue streams and integration of sales and marketing activity. Along with this change the role of Commercial Director will report to the CRO so will no longer be part of the senior leadership team.


https://www.nzx.com/announcements/397052
"The difficulty lies not in new ideas... but in escaping from old ideas." (J M Keynes.)

Pierre

Quote from: Left Field on Aug 16, 2022, 02:30 PMShifting a few deck chairs on the Titanic while saving costs ..... a smart move?

On 14 July 2022 Blis Technologies announced a refocusing of strategy on core business. In line with this change we have looked at our structure and made changes to our senior leadership team.

Effective immediately Jennifer Walker who previously held the position of Marketing and eCommerce Director has been appointed to the new role of Chief Revenue Officer (CRO) and will provide leadership for all revenue streams and integration of sales and marketing activity. Along with this change the role of Commercial Director will report to the CRO so will no longer be part of the senior leadership team.


https://www.nzx.com/announcements/397052
Pretty lame action by BLT. I was expecting a bit of a cleanout as a result of the change of strategy - not just a change of titles.
Maybe the Commercial Director will move on though after being demoted from the SLT.
There must be more headcount reductions to come...surely?


Sideshow Bob

Agree, shuffling a few deck chairs.

Marketing director has only been there since late February.

Shows the failure of the sales/marketing function at Blis going back many years.
"Mayor Quimby Even Released Sideshow Bob — A Man Twice Convicted Of Attempted Murder. Can You Trust A Man Like Mayor Quimby? Vote Sideshow Bob For Mayor."

Left Field

Crikey, maybe some life in this old dog?? (Still losing money...... but less than before!!)

https://www.nzx.com/announcements/406845

"Blis Technologies Limited (Blis) delivers revenue growth of 24% and a positive EBITDA result for the third quarter ending 31 Dec 2022 (unaudited)......

Revenue for the nine months to 31 December 2022 was $7.2m up 15% on the same period last year, EBITDA loss for this same nine month period is $0.9m, which includes one off costs associated with the strategy reset of $0.3. This is a solid improvement on the $1.9m EBITDA loss in the same period last year.

Based on our latest customer sales forecasts and market feedback, guidance is for full year revenue to be between $9.5m and $9.8m, with an EBITDA deficit in the range of $1.0m to $1.2m.
"
"The difficulty lies not in new ideas... but in escaping from old ideas." (J M Keynes.)

Left Field

#9
Now losing even less than before....that's got to be good..... the cunning plan (whatever it is,)  seems to be working?

https://www.nzx.com/announcements/409427

(and no, I don't hold.)

"The difficulty lies not in new ideas... but in escaping from old ideas." (J M Keynes.)

Left Field

Crikey.....nearly choked on my cornflakes...... 14% revenue growth.....2H profit??

https://www.nzx.com/announcements/412007

Blis Technologies Limited (NZX:BLT) (Blis, the Company) has today reported its results for the 12 months to 31 March 2023. Blis has delivered revenue of $10.2 million, 14% growth on the prior year, with an EBITDA loss of $0.6 million and a net deficit of $1.4m. A positive EBITDA of $0.6m and a net profit of $0.3m was delivered in the second half of the year. These results are in line with the upgraded guidance provided in early April 2023.

Key highlights for FY23 are:
• $10.2m Trading Revenue, 14% growth
• $0.6m EBITDA Loss
• $1.4m Net deficit
• 2HY23 positive EBITDA and a Net Profit
• Business to Business revenue growth 11%
• Business to Consumer revenue growth 21%
• First royalty payments from the Probi licensing partnership




"The difficulty lies not in new ideas... but in escaping from old ideas." (J M Keynes.)

Left Field

Who would have believed it!! Break even!!

https://www.nzx.com/announcements/415032

Blis Technologies Limited (Blis) delivers revenue growth of 18% and a break-even EBITDA result for the first quarter ending 30 June 2023 (unaudited).

Revenue for the three months to 30 June 2023 was $2.8m, an increase of $0.4m compared with the same period last year. EBITDA was breakeven $0.0m compared with a loss of $0.3m in the same period last year.

"Following a profitable second half of FY23, we are pleased to start the year with a break-even quarter in line with our expectations. The first quarter revenue growth is from our B2B business, with an increase in Probi royalties and a lift in US ingredient sales for the quarter. Our B2C revenue for the quarter was similar to the same period last year."

"The difficulty lies not in new ideas... but in escaping from old ideas." (J M Keynes.)

Pierre

Nice to see BLT chugging along OK at last. Hope Brian keeps his foot on the accelerator till he moves on to wherever he's going.

Maybe the new CEO when he/she arrives will finally strike oil somewhere and kick this outfit into gear. Mind you, I've been waiting since 2005 for that to happen so, if it takes another couple of years it wont really matter.

Left Field

Chugging along.....

https://www.nzx.com/announcements/416417

Blis Technologies (NZX: BLT) is pleased to announce the signing of an agreement with a significant Australasian cosmetic skincare company to licence our cosmetic facial live probiotic serum containing BLIS Q24®. The agreement allows for exclusive marketing of the Blis developed serum formulation under the partner's brand domestically and in export markets where the partner has a significant presence in both retail and online sales.
"The difficulty lies not in new ideas... but in escaping from old ideas." (J M Keynes.)

Sideshow Bob

Quote from: Left Field on Aug 16, 2023, 08:50 AMChugging along.....

https://www.nzx.com/announcements/416417

Blis Technologies (NZX: BLT) is pleased to announce the signing of an agreement with a significant Australasian cosmetic skincare company to licence our cosmetic facial live probiotic serum containing BLIS Q24®. The agreement allows for exclusive marketing of the Blis developed serum formulation under the partner's brand domestically and in export markets where the partner has a significant presence in both retail and online sales.

When Blis say it is going to have a SMALL positive impact on FY24, then it must be really small.....
"Mayor Quimby Even Released Sideshow Bob — A Man Twice Convicted Of Attempted Murder. Can You Trust A Man Like Mayor Quimby? Vote Sideshow Bob For Mayor."