CBD Business Drives 121% Elixinol 2018 Sales Growth

Elixinol Global (ASX: EXL) (OTC: ELLXF) filed preliminary financials for 2018, its first full year as a public company,and shared an investor presentation today. The Australian company reported sales of A$37.1 million (about US$26 million) for the full year, up 121% from pro forma sales in 2017. It also generated underlying EBITDA of A$0.7 million.

The company operates three businesses, including Nunyara, which is seeking a medical cannabis license in Australia, Hemp Foods Australia and Elixinol, which sells CBD products derived from industrial hemp. Elixinol accounted for 87% of sales and grew 141% in 2018, with private-label sales leading the way, with 359% growth:

The company hosted a conference call, expressing confidence in its ability to continue strong growth in 2019. In the United States, it has more than doubled capacity and is introducing additional products.

Meetings with large national outlets have indicated that support from the FDA and United Nations will be the next major catalyst for industry growth in both the hemp and cannabis sectors leading to consumer awareness creating demand.

Paul Benhaim, CEO

The company, which priced a secondary offering in the 4th quarter, ended 2018 with A$42.9 million cash on the balance sheet.

Get ahead of the crowd by signing up for 420 Investor, the largest & most comprehensive premium subscription service for cannabis traders and investors since 2013.

Published by Alan Brochstein, CFA
Alan Brochstein, CFA
Based in Houston, Alan leverages his experience as founder of online communities 420 Investor, the first and still largest due diligence platform focused on the publicly-traded stocks in the cannabis industry. With his extensive network in the cannabis community, Alan continues to find new ways to connect the industry and facilitate its sustainable growth. At New Cannabis Ventures, he is responsible for content development and strategic alliances. Before shifting his focus to the cannabis industry in early 2013, Alan, who began his career on Wall Street in 1986, worked as an independent research analyst following over two decades in research and portfolio management. A prolific writer, with over 650 articles published since 2007 at Seeking Alpha, where he has 70,000 followers, Alan is a frequent speaker at industry conferences and a frequent source to the media, including the NY Times, the Wall Street Journal, Fox Business, and Bloomberg TV. Contact Alan: Twitter | Facebook | LinkedIn | Email

Get Our Sunday Newsletter