FY24 Results Announcement

• Outstanding 80.9% revenue growth to $15M
• Exceptional 130% Australian market expansion to $12.9M
• Significant 40% reduction in EBITDA loss to $2.8M
• Major financial turnaround with NPAT loss slashed to $1.7M
• On track for EBITDA break-even in FY25

Elixinol Wellness Ltd (ASX:EXL), a leading producer, manufacturer, and distributor of sustainable plant-based nutrition and wellness products, has reported its FY24 Annual Financial Results for the year ending 31 December 2024. The company achieved outstanding revenue growth of 80.9% in FY24, reaching $15M (from $8.5M in FY23), driven by acquisitions and organic growth. Australian sales surged 130% to $12.9M, fueled by grocery expansion, e-commerce growth, and high-impact promotions. Despite a 22% revenue decline in the U.S. operations, Elixinol USA achieved positive EBITDA of $0.1M, reversing a $1.3M FY23 Adjusted EBITDA loss. The company also reported a significant 40% reduction in Adjusted EBITDA loss to $2.8M ($4.6M in FY23) through cost optimization, operational efficiencies, and portfolio realignment. Gross margin reached 40% in Q4, reflecting pricing strategies, operational efficiencies, and strong e-commerce growth, while corporate expenses were down 26% in FY24, reinforcing cost discipline. The company's NPAT loss was slashed to $1.7M ($7.5M in FY23), signaling a major financial turnaround, and the recognition of $3.6M Deferred Tax Assets indicates the Board's confidence in future profitability. Elixinol Wellness is still on track for EBITDA break-even in FY25, driven by expansion into high-growth categories, a strengthened marketing push for The Healthy Chef, continued margin improvements, and U.S. market reinvigoration.

Elixinol Wellness is on track for EBITDA break-even in FY25, driven by expansion into high-growth categories, a strengthened marketing push for The Healthy Chef, continued margin improvements, and U.S. market reinvigoration.

Elixinol Wellness remains on track for EBITDA break-even and sustained profitability in FY25, driven by its disciplined strategy, operational efficiencies, and growing brand portfolio.