Wellnex Life Limited

WNX · AIM · Retail · mcap £4.0m · 5.5p

Wellnex Life is an Australian consumer health company that owns and sells over-the-counter brands and makes products for others under contract. It sells mainly through Australian retailers and pharmacies and is expanding into the UK, New Zealand and other markets.

Target	Promise	Said	Status
2025
6 May 2025	Eliminate over A$13m of debt, saving about A$1.4m a year in costs, after the AIM placing.	21 Mar 2025	✓ Kept
	“the Company will have eliminated over A$13m of debt, allowing the Group to move forward with a significantly improved balance sheet” Result May 2025 updates confirm about A$13m of debt extinguished following the AIM listing, with annual savings of about A$1.4m. “with the extinguishment of circa A$13 million in debt following the AIM IPO”6 May 2025 · Board and Management Changes “Successful admission on 21 March 2025 to the AIM Market of the London Stock Exchange (”12 May 2025 · Trading Update
7 Nov 2025	Agree a repayment schedule for the Bozinovski loan by 7 November 2025 (originally 31 October).	20 Oct 2025	✓ Kept
	“parties continue to work in good faith to finalise a repayment schedule and are now targeting to conclude details of the schedule by 7 November 2025” Also stated 3 Nov 2025 Result On 10 November 2025 repayment was scheduled for 20 April 2026, so the schedule was agreed, three days after the revised date. “the parties have reached an agreement on a repayment schedule, with the majority of the Loan repayable on 20 April 2026”10 Nov 2025 · Update on Loan Repayment
31 Dec 2025	Start New Zealand brand presentations via Storelink and begin sales in the first half of FY26.	18 Sep 2025	… In progress
	“Wellnex Life will work closely with and support Storelink to commence presenting its brands to New Zealand retailers over the coming months, with sales planned to commence in the first half this financial year.” Result Not yet due.
31 Dec 2025	Reach EBITDA breakeven by Q2 FY2026.	16 Dec 2025	✓ Kept
	“place the business on a clear path toward breakeven by Q2 FY2026” Result January 2026 update says the group operated at breakeven in Q2; half-year results confirm operating breakeven reached. “The Group closed Q2 FY26 operating at breakeven, providing a solid platform entering H2 FY26.”16 Jan 2026 · Market Update “The Group closed Q2 FY26 operating at breakeven, providing a solid platform entering 2HFY26”27 Feb 2026 · Half Yearly Report and Accounts
2026
1 Apr 2026	Ash Vesali to return to Non-Executive Chairman after up to six months as Interim Executive Chairman.	1 Oct 2025	✗ Missed · target changed
	“Following this period, Mr Vesali will return to his current position as Non-Executive Chairman” Result In March 2026 Eric Jiang became Interim Executive Chair and Vesali moved to Non-Executive Director, not Chairman. “Ash Vesali, who has served as Interim Executive Chair for an agreed six-month period, will transition to the role of Non-Executive Director, effective immediately.”12 Mar 2026 · Directorate Change
20 Apr 2026	Repay the A$2.3m loan from Zack Bozinovski and his wife in full by 20 April 2026.	20 Oct 2025	✗ Missed · target changed
	“full repayment is to be made by no later than 20th April 2026” Result Loans to former directors of about A$2.88m were extended to 21 July 2026, for a A$150,000 payment. “The Company and the former directors have now agreed an extension, with full repayment of all outstanding amounts due by no later than 21 July 2026. The Company has agreed to pay the former directors a total of $150,000, to be rolled into the loan principal, in consideration for the agreement of the extension.”23 Apr 2026 · Extension of Loan Repayment
21 Apr 2026	Repay George Karafotias director loan in full; deadline later set at 21 April 2026.	15 Aug 2025	✗ Missed · target changed
	“reached an agreement with Mr George Karafotias, former director, to repay his loan by 21 April 2026” Also stated 27 Nov 2025 Result The 90-day term was replaced by April 2026, then extended to 21 July 2026 (up to 21 August with a payment); no repayment reported. “The Company and the former directors have now agreed an extension, with full repayment of all outstanding amounts due by no later than 21 July 2026.”23 Apr 2026 · Extension of Loan Repayment
30 Apr 2026	Launch a third Pain Away roll-on product in April 2026.	16 Jan 2026	… In progress
	“a third roll-on launch by the Company planned in April 2026” Result Not yet due.
30 Apr 2026	Trial an exclusive heat patch through Costco Australia and New Zealand in April 2026.	16 Jan 2026	… In progress
	“Costco Australia and Costco New Zealand will trial an exclusive heat patch in April 2026” Result Not yet due.
30 Jun 2026	Enter UK and European markets in FY26.	12 May 2025	✗ Missed
	“the company is in the process of preparing to enter the UK and European markets in FY26” Result No later card reports UK or European market entry by the end of FY26; FY26 results do not mention it. 1 Sep 2026 · Annual Report for Year Ended 30 June 2026
30 Jun 2026	Increase revenue strongly and gross margin in FY26 through a more disciplined trade investment plan.	12 May 2025	◐ Partly kept
	“the Board expects to continue for the remainder of FY25 and into FY26, with increasing demand for the Company's brands and products” Also stated 29 Aug 2025 · 30 Sep 2025 Result FY26 revenue rose to A$24.8m from A$23.6m, not strongly; gross margin improved to 30.2% from 29.0%. “Wellnex Life's margins of 30.2% or $7.5 million, was slightly higher than the previous corresponding period (30 June 2025 29.1% or $6.9million).”1 Sep 2026 · Annual Report for Year Ended 30 June 2026
30 Jun 2026	Exit all medicinal cannabis operations by FY26.	2 Jul 2025	… In progress
	“The Board has resolved to cease all operations under the Wellness Life brand in the medicinal cannabis market.” Result Not yet due.
30 Jun 2026	Deliver more than A$1m in annualised operating savings through the cost reduction programme.	20 Oct 2025	… In progress
	“targeting more than A$1 million in annualised operating savings” Also stated 27 Feb 2026 · 1 Sep 2026 Result Not yet due.
30 Jun 2026	Cut annual operating spend by up to 40% versus the previous year's A$10.8m.	27 Nov 2025	… In progress
	“we are on track to significantly reduce our annual operating spend by up to 40% compared to the previous financial year” Result Not yet due.
30 Jun 2026	Appoint a permanent Chief Executive Officer in H2 FY26.	27 Feb 2026	✗ Missed
	“this process is at an advanced stage, and a further market update will be provided in due course” Result No CEO appointment reported by October 2026; a new CFO started in September 2026. “As announced on 21 October 2025, the Board commenced an executive search for a permanent Chief Executive Officer. The Board is pleased to advise that this process is at an advanced stage, and a further market update will be provided in due course.”12 Mar 2026 · Directorate Change
30 Jun 2026	Deliver Q4 FY26 revenue growth, margin improvement and cash generation.	30 Apr 2026	◐ Partly kept
	“the Company is targeting stronger revenue growth in Q4 FY26, benefiting from more focussed marketing effort and typically higher activity across the business in Q4” Result Q4 revenue was $7.0m versus $5.1m in Q3 and operating cash flow was positive; Q4 margin improvement is not reported. “Net operating cash flow for the quarter was positive at $63k (Q3 FY26: $412k positive). Operating cash flow for the second half of FY26 was approximately $0.5 million positive”31 Jul 2026 · Q4 FY26 Quarterly Update and Appendix 4C
21 Jul 2026	Repay all former-director loans (about A$2.88m) by 21 July 2026, extendable to 21 August 2026.	23 Apr 2026	… In progress
	“The repayment date may be extended to 21 August 2026 for a further payment of, in aggregate, $50,000” Result Not yet due.
11 Sep 2026	Use Pain Away sale proceeds to retire all borrowings (about A$10.2m) and be debt free at completion.	6 Aug 2026	… In progress
	“The Board will use the cash proceeds from the Transaction to retire debt and to support the working capital requirements for the Company's continuing operations” Also stated 1 Sep 2026 · 11 Sep 2026 Result Not yet due.
Today · 13 Oct 2026
31 Dec 2026	Present brands to UK retailers via Powermed Plus in Q3 2025, with UK sales starting in 2026.	10 Apr 2025	… In progress
	“commence presenting its brands to UK retailers in Q3 2025” Status so far Not yet due.