Elixinol Wellness Ltd (AU:EXL) has released an update.
Elixinol Wellness Ltd has reported a substantial 96% revenue increase to $6.8M in H1 FY24, attributing the rise to strategic acquisitions and organic brand growth. The Australian market has been particularly strong, with sales up by 174%, and the company has also made significant strides in improving its EBITDA, reducing operating expenses by 9% year-on-year. Despite a temporary dip in gross profit margins, Elixinol is optimistic about achieving positive EBITDA in 2024 with a revenue forecast of $16-$20M.
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