Endexx Corp (EDXC)

[Shrimclim]

Finally, some great news!

Endexx Announces Fiscal 2022 Year-End Financial Results

Jan. 17, 2023 8:30 AM ETEndexx Corporation (EDXC)
CAVE CREEK, AZ, Jan. 17, 2023 (GLOBE NEWSWIRE) -- via NewMediaWire – Endexx Corporation (EDXC), a provider of innovative Hemp-derived wellness and nutritional products, today announced its fiscal 2022 annual results. Endexx restructured itself in August/September 2022 to optimize growth potential and expand its product offerings internationally for Fiscal 2023. The company showed a 96% increase in top-line revenue in fiscal 2022, while generating a gross profit of $503,009 in fiscal 2022 compared to a loss of $344,078 in the prior year. Endexx was able to reduce operating expenses by 23%, a reduction of $1,162,007.

Endexx 2022 Milestones and Highlights

Increased F/D/M shelf space:

Men’s Skincare and Grooming line launched in select Target and CVS stores nationwide.

Endexx grew from 4,000 Mass Retail stores to over 8,000 in fiscal 2022.

Endexx launched its premium Plant-Derived Skincare line on Amazon.com with reach to 13 countries.

Endexx garnered “top 2” in sales of CBD products in Mass Retail Pharmacy outlets in 2022 according to Nielsen Ratings.

Endexx expanded its retail footprint nationwide with its top selling balm and cream products in the “pain aisle” at Walgreens.

Endexx acquired a 51% interest in HYLA™ US, a company that specializes in non-nicotine, plant-based vape and consumable products for domestic and international markets.

“Fiscal 2022 reflected a year of expansion and recovery after two years of economic challenges associated with the economy and the pandemic,” stated CEO Todd Davis. Davis added, “Expansion of the national mass retail footprint put the company back on its growth path. We now have 5 of the top 8 “Mass Retailers” in the US as our customers. We anticipate continued top-line revenue growth, continued store expansion, and some of the challenges that we saw in Fiscal 2022 to moderate with our Hemp-Derived CBD products and skincare line. Non-nicotine, plant-based alternatives in the consumer product market provide for an extremely compelling outlook for Hyla US going forward. We believe Hyla’s revenues will grow exponentially this fiscal year, continuing into fiscal 2024 and 2025.”

www.endexx.com & www.cbdunlimited.com

www.tryhyla.com