Elixinol Wellness (ASX:EXL) has announced its strongest quarterly performance since 2020, with customer receipts exceeding $4.1 million for Q3 FY24. The company saw significant revenue growth, particularly in Australia, and sustained positive EBITDA in its U.S. operations.
Elixinol Wellness (ASX:EXL) has reported substantial growth in Q3 FY24, with customer receipts over $4.1M and a 77% increase in group revenue compared to the previous year. Australian sales doubled, driven by success in the Grocery channel and eCommerce. Elixinol USA recorded positive EBITDA for three consecutive quarters. The company is executing strategic acquisitions, such as The Healthy Chef, and capital expansion to boost revenue and efficiency. Despite an operational cash burn of $260K, the cash runway remains secure. Elixinol aims to achieve an FY24 sales target of $16M-$20M, focusing on cost efficiency and revenue growth, with new product launches and a House of Brands strategy contributing to sustained growth.
We are thrilled to report our best quarterly performance in four years, a testament to our strategic initiatives and operational efficiencies. Our focus on sustainable plant-based nutrition continues to drive growth in key markets.