• Q4 sales tracking lower than expected due to elevated media costs and reduced advertising effectiveness
• Revised Q4 revenue guidance of USD $650k to USD $800k, down from prior guidance of over USD $1M
• Walmart expands NGS product range with addition of third KidzProtein flavor line

Nutritional Growth Solutions (NGS) has provided a trading update for Q4 FY24, highlighting that sales to date are tracking lower than expected. The company cites elevated media costs and reduced advertising effectiveness through the U.S. Election period as significantly limiting NGS's share of voice and decreasing conversion rates of online B2C sales, which are down 22% compared to the prior year. As a result, NGS now anticipates delivering between USD $650k (AUD $1.0M) and USD $800k (AUD $1.3M) in Q4 revenue, down from prior guidance provided in NGS' Q2 FY24 Quarterly activities report projecting revenue was to exceed $1M USD. While sales through Walmart, Target.com, and Kroger.com remained steady in Q4 to date, reduced sales performance on Amazon in particular impacted the Q4 result. On a positive note, Walmart has officially confirmed its supplier partnership with NGS until May 2026 as part of the annual range review, and has committed to expanding NGS's product range by adding a third KidzProtein product line to its shelves, including chocolate, vanilla, and strawberry flavors. Additionally, NGS has made progress on its international expansion strategy, with initial opening orders for China and Vietnam having shipped. The company also notes that certain option holders have indicated their intention to exercise their options in December, valued at AUD $250,000, demonstrating strong confidence in NGS's long-term prospects from its leadership team and shareholders.

NGS now anticipates delivering between USD $650k (AUD $1.0M) and USD $800k (AUD $1.3M) in Q4 FY24 revenue, down from prior guidance of over USD $1M.

NGS remains committed to its growth strategy and delivering value to shareholders, despite the short-term challenges impacting Q4 performance. The company continues to see positive momentum in its key partnerships and international expansion efforts, positioning NGS for a strong 2025.