Oral care startup Zenyum reported a US$22 million net loss for FY 2022, more than double the previous year’s loss, despite US$21 million in revenue.

The loss was mainly attributed to a 90% increase in selling and distribution expenses, reaching US$27 million, largely from marketing spend, as well as product research and software development costs.

Zenyum has since controlled its spending and is projected to reduce its net loss by 63% in FY 2024.