Bubs Australia forecasts FY23 net revenue from its US business will be at the top end of a previous forecast range of $20-22 million, with May marking the company's first $1 million month on Amazon's ecommerce platform.
The direct-to-consumer (DTC) arm has recorded $1.8 million in net revenue in year to date. The company's net revenue in FY22 was $8.1 million.
Chris Lotsaris has been appointed Bubs general manager - USA. He will be based in California and start in the role from the end of the month. Lotsaris was the company's US sales director and prior to that he was sales director of Bubs Australia. He has been with the company since 2018 and a background working at Mars, Danone, and Lactalis.
Bubs interim CEO Richard Paine said the company is making steady and pleasing progress against regulatory requirements.
"Thanks to our talented, committed, and diligent team at Deloraine (Victoria), and our US based advisors and clinicians, we remain on track to achieve permanent access to the US market, hopefully ahead of schedule," Paine said.
The US Food and Drug Administration (FDA) was at the Deloraine factory for five days last week, auditing the operation as part of its process before granting a company approval for permanent access.
