ANO says Australian revenue from its Veganic sunscreen products fell 71% in the first quarter of FY27 after customer cancellations linked to media coverage and TGA involvement over product labelling. The company is preparing a legal claim against MooGoo, but no proceedings have yet been filed and the potential amount remains undisclosed.
- Australian Veganic sunscreen revenue down 71% in Q1 FY27
- Customer order cancellations followed December 2025 media coverage and TGA involvement
- ANO attributes the revenue impact to MooGoo’s public statements
- Legal counsel engaged, with a claim expected but quantum not yet determined
- ANO says first-quarter results may not predict full-year performance
Veganic Revenue Falls 71% in First Quarter
Advance NanoTek Limited (ASX:ANO) has reported a 71% decline in Australian revenue from its Veganic sunscreen products during the first quarter of FY27, turning a product-label dispute into a material commercial setback for the company.
ANO said the fall followed December 2025 media reporting by the ABC concerning MooGoo’s public comments about the zinc used in Veganic’s sunscreen products. The Therapeutic Goods Administration subsequently became involved in relation to Veganic’s product labelling, according to the announcement.
Customer Cancellations Hit Orders
The company said a number of Veganic customers cancelled orders after the media coverage and TGA involvement. Veganic then cancelled corresponding orders with ANO, creating a direct impact on sales in the quarter.
ANO considers MooGoo’s public statements to be the cause of the revenue impact and is preparing a claim for the loss it says it has suffered. The company has engaged legal counsel and is finalising its position, including the quantum of any claim. It said proceedings had not yet commenced but were expected to begin in the near future.
Legal Claim Remains Unquantified
The proposed action is therefore at an early stage. The filing sets out ANO’s position, rather than an established finding of liability, and provides no estimate of the amount it may seek from MooGoo. Any eventual claim would also depend on the evidence supporting the alleged link between the statements, customer cancellations and lost revenue.
Seasonality Limits First Quarter Read-Through
ANO cautioned against treating the quarter as a straightforward guide to its full-year performance, noting that first-quarter sales in FY26 represented only 18% of total annual sales. The board said the FY27 first-quarter result was a poor forward indicator and should not be taken as a predictor of first-half or full-year results.
That warning does not remove the immediate questions around customer confidence, the outcome of the labelling matter and whether Veganic orders recover. The next update on the legal claim, including its quantum and whether proceedings have actually been filed, will be more informative than the company’s current expectation of future action.
Bottom Line?
The near-term case for recovery rests on customer orders returning, regulatory uncertainty easing and ANO converting its proposed claim into a defined legal action.
Questions in the middle?
- Will ANO quantify and commence the proposed claim against MooGoo, and what evidence will it rely on?
- What outcome will emerge from the TGA’s involvement in Veganic’s product labelling?
- Will customer orders recover in the second quarter, or has the disruption extended beyond the reported first-quarter decline?