Next Science Ltd’s Sales Force Restructuring: Cutting Costs and Boosting Revenue
Next Science Ltd (AU:NXS) has recently announced an important update regarding its sales force restructuring. The company has made changes to its sales team in order to reduce costs and improve efficiency, with the goal of saving approximately US$6 million annually.
Despite these changes, Next Science Ltd has reported an increase in product sales and a strong gross margin. This has given the company confidence in meeting its FY24 revenue guidance of US$36m-$40m. Furthermore, Next Science Ltd 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.
