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.
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