Elixinol Global Limited, one of the leading hemp-derived CBD company’s in the world, has announced the company’s Q3 financials this week. Over the course of the past three months Elixinol has been able to product a company best revenue of A$10.4 million dollars. This constitutes a 159% growth in revenue over the course of the past four quarters.
Elixinol Global is attributing the increased number in their product sales to an increased interest in Cannabidiol (CBD) based products in North America. Their company currently operates and manufactures products in the Colorado, a state in the U.S.
- Revenue of $10.4m¹ for 3Q FY2018, representing 159% growth on prior corresponding period (PCP) and 27% growth vs 2Q FY2018 (December year end)
- Elixinol Global raised $40m to accelerate international growth via a placement to new and existing domestic and international institutional and sophisticated investors (funds received in October)
- Ownership in Elixinol Japan increasing to 50.5%, funding working capital to scale the business for anticipated growth for hemp-derived CBD, foods and skincare in the Japanese market
- Elixinol Global commenced trading on the OTCQX exchange to make the Company more accessible to US investors
Cannabidiol infused wellness, nutritional, and cosmetic products have gained increased attention and have become a mainstream product over the course of the past few years. CBD oil has been found to be effective in treating a number of health issues including anxiety, pain relief, depression, ance, diabetes, and has been effective in the reduction of seizures.
Elixinol currently operates and distributes products in Australia, North America, and Japan.