Elixinol Wellness Ltd (AU:EXL) has released an update.
Elixinol Wellness Ltd reported a robust first quarter with a 76% surge in group revenue to $3.0M, marking its sixth consecutive quarter of growth. The acquisition of Ananda Food has bolstered Elixinol’s position in the Australian hemp market and is expected to bring about $1M in synergies. With revenue gains, cost savings, and a leaner operational model, Elixinol is on track to reach EBITDA break-even by mid-2024 and maintains its full-year sales forecast of $16M-$20M.
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