EZZ Life Science Holdings Ltd (ASX: EZZ) shares have been among the very best performers on the Australian share market this year.
Since the turn of the year, the small ASX healthcare share has rocketed a massive 630%.
To put that into context, a $1,000 investment in the genomic life science company's shares at the end of last year would be worth $7,300 today.
Why is this ASX healthcare share thumping the market?
Investors have been scrambling to buy EZZ Life Science's shares this year thanks to its impressive performance in FY 2024.
In August, when the ASX healthcare share released its full year results, it reported a 78.9% increase in revenue to $66.4 million, the doubling of its EBITDA to $10.4 million, and a 91.8% increase in net profit after tax to $6.9 million.
A key driver of this was the launch of 21 new EZZ products in FY 2024, bringing its total active product portfolio to 53 SKUs. It also introduced 10 new distribution channels and expanded networks across key platforms including Douyin, Tmall Global, Kuaishou, Aubay and O'Mall.
EZZ Life Science has a focus on genomic research and development to address four key human health challenges: genetic longevity, human papillomavirus (HPV), children's health, and weight management.
Among its products are hair growth sprays and shampoos, eucalyptus stem cell and peptide eyelash and brow serums, and hair masks.
Further revenue growth expected
The ASX healthcare share's chairman, Glenn Cross, was pleased with the year and expects further revenue growth in FY 2025. He said:
We are delighted with our performance In FY24. We have delivered a strong set of financial results as we continued to execute on our growth strategy. We have significantly expanded EZZ's product range and grown our distribution channels in key markets. China has been a strong growth market for the Company this year and we expect it to continue following the strategic relationships we announced during the last quarter of FY24.
While economic conditions are expected to remain challenging given the ongoing cost of living pressures for consumers, EZZ's experienced management team are confident in their ability to deliver continued revenue growth and margin expansion, while driving efficiencies within the business. Our expansion into the US market in FY25 along with our strong balance sheet, which enables us to consider value-accretive growth opportunities, provide confidence that we'll deliver further revenue growth in FY25.
With a market capitalisation of approximately $150 million, EZZ Life Science's shares are now trading at approximately 22x earnings.
