10-Q is out! Endexx Announces Record Fiscal Second Quarter 2023
Endexx Consolidated Q2 Year-over-Year Quarterly Sales Increased 865%
CAVE CREEK, AZ, May 22, 2023 (GLOBE NEWSWIRE) -- via NewMediaWire – Endexx® Corporation (OTC: EDXC), a provider of innovative plant-based wellness and nutritional products, today announced the filing of its Form 10-Q for its second quarter ending March 31, 2023. Endexx (EDXC) reported the consolidated second quarter unaudited revenue has grown 865% “Year-over-Year” (YOY) from USD $254,686 in the second quarter of last fiscal year to USD $2,457,354 in the second quarter of the current fiscal year, a $2,202,668 (865%) increase. The Q2 unaudited consolidated financial statement, including Hyla™ and CBD Unlimited™, reports that revenue has grown nearly 9x. The strength of international and domestic sales of Hyla’s organically processed, plant-based, all-natural, zero-nicotine vape products is increasing as the market for nicotine-based vape products is under regulatory scrutiny, both internationally and in the USA. Over ten thousand points of distribution have been added to the distribution complex in the first six months of fiscal 2023. Endexx (EDXC) also reported USD $2,949,063 in consolidated revenues in its first six months of fiscal 2023 compared to USD $529,277 in the same period of fiscal 2022, a 557% increase. For the same comparative periods, gross profits increased from USD $175,530 to USD $586,512, an increase of USD $410,782 or (234%).
“Endexx’s acquisition of the controlling interest of Hyla has generated its greatest revenue increase in the company’s history,” stated CEO Todd Davis. Davis added, “International distribution and expansion has set the stage for a massive revenue expansion for Endexx (EDXC) over the coming quarters and years ahead.”
Endexx (EDXC) is completing its audited consolidation of Hyla into Endexx (EDXC).
www.endexx.com & www.cbdunlimited.com & www.tryhyla.com
