Elixinol enjoyed its best quarter for four years in the three months to December as revenue hit A$4.3 million, a 65% jump on the same period last year and up 11% on the previous quarter.
Reporting its final quarter performance of FY24, the company said unaudited full-year revenue should hit $15m, a rise of $6.5m on FY23.
“While slightly below our $16m to $20m target, this is a significant achievement in challenging conditions,” Elixinol said in its quarterly report to the ASX.
Australian sales in Q4 almost doubled from the previous corresponding period, rising from $2m to $3.8m.
Net cash used in operating activities for the period hit $639,000, taking its year-end deficit to $3.5m. Elixinol said it “approached” EBITDA breakeven towards the end of Q4.
Ecofibre
Ecofibre reported unaudited revenue of $6m in the second quarter of FY25, down 12% on Q1 and 16% below the previous corresponding period (PCP).
Ananda Health was among the divisions to see a decline, with revenue of $1.8m, down from $2.5m in the previous quarter and from $2.4m in the PCP.
The company said it spent $1.7m on litigation and restructuring costs during Q2 which “continue to place a high burden on the group’s cashflow”.
Net cash used in operating activities for the period hit $4.6m, taking its half-year deficit to $7.3m.
