Elixinol Wellness Achieves Major Financial Turnaround with 81% Revenue Growth in FY24

An announcement from Elixinol Wellness ( (AU:EXL) ) is now available.

Elixinol Wellness Ltd reported a significant financial turnaround in FY24, with an 81% increase in revenue to $15 million, driven by acquisitions and organic growth. The company reduced its net loss to $1.7 million and improved its EBITDA loss by 40% through cost optimization and operational efficiencies. Australian market sales surged by 130%, while U.S. operations achieved positive EBITDA despite a revenue decline. The company is on track for EBITDA break-even in FY25, with plans to expand into high-growth categories and leverage new advertising opportunities in the U.S.

More about Elixinol Wellness

Elixinol Wellness Limited (ASX: EXL) is a leader in the global hemp industry, focusing on the innovation, marketing, and sale of hemp and other plant-derived food, skincare, and nutraceutical products. The company operates a vertically integrated business in Australia, offering products across human nutrition, human wellness, pet wellness, and superfood ingredients under various brands. Elixinol USA provides high-quality hemp and plant-derived nutraceutical and skincare products through e-commerce platforms.

Average Trading Volume: 3,097

Technical Sentiment Consensus Rating: Buy

Current Market Cap: $4.18M

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