Elixinol Global Sales Rise 111% in Q2 to A$8 Million
July 30, 2018 at 6:39 am
Published by Alan Brochstein, CFA
Australian hemp company Elixinol Global (ASX: EXL) (OTC: ELLXF) shared Q2 financial results in a press release issued on July 30th, with sales of A$8.0 million growing 111% from the prior year and by 21% from the prior quarter:
The company, which is in the process of becoming a medical cannabis company in Australia and also operates a hemp food company there as well, said that the Colorado-based hemp-derived CBD business for dietary supplements and skincare products fueled its growth. Despite the jump in sales in Q2, the operating loss expanded from A$128K to A$972K during the quarter. The company ended the quarter with over A$14.1 million cash on the balance sheet.
Elixinol reported that it is gaining traction in Brazil with its CBD products and that it launched a CBD roll-on in Japan.
Published by Alan Brochstein, CFA
Based in Houston, Alan leverages his experience as founder of online community 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
