EXXE GROUP INC - AXXA STOCK NEWS

Exxe Group, Inc. (OTC PINK:AXXA) reported its 3Q2023 and nine-month FY2023 financial results, showcasing significant growth. Revenues reached $13,464,338 for the quarter and $38,154,606 for the nine months, up 12.5% year-over-year. Net profits were $4,287,255 for the quarter and $11,790,323 for the nine months, marking increases of 26.5% and 55%, respectively. The company successfully reduced long-term debt by $7.2 million and total debt by $11.9 million. Cash on hand improved significantly, reflecting effective capital management strategies.

Exxe Group has successfully acquired $1.5 million worth of graded and authenticated memorabilia assets across various fields including sports, music, film, TV, pop culture, and politics. This collection, valued by industry leaders, includes autographed items from notable athletes and celebrities. The acquisition will be supported by Exxe's trading technologies and new brand strategy under its Technology vertical. The deal is financed through cash and Preferred B stock. Exxe Group aims to leverage its in-house technologies to boost sales, with expectations of generating over $50 million in annual revenues.

Exxe Group is launching a spin-off program for up to four of its divisions, including furniture/design, medical, automotive, and real estate. This initiative aims to enhance value for shareholders by restructuring and auditing core assets individually. Key timelines will be announced in December 2022, with a target completion of the spin-off process within 6-12 months. The first spin-off will be under the name of daskonzept group.

Exxe Group announced impressive fiscal results for the second quarter and first half of 2023. Quarterly revenue reached $12,956,036, up 17.5% from last year, while comprehensive income skyrocketed 108.8% to $3,825,044. The company's gross profit margin hit a new high of 82%, and operating margin increased to 31.7%. Exxe is also planning asset spin-offs and is negotiating new acquisitions to bolster its portfolio. Notably, current liabilities dropped by $4.4 million, highlighting improved financial health.

Exxe Group, Inc. (OTC PINK:AXXA) announced record quarterly revenue of $4,886,700 for the period ending September 30, 2022, marking a 77.4% increase year-over-year. The first half of fiscal 2023 saw revenue and EBIT rise by 111.8% and 45%, respectively. The success was driven by M Moto's B2B eCommerce platform, which nearly doubled sales. Future growth is expected from new markets and products worth an estimated $700 million. This achievement marks the sixth consecutive quarter of record revenue for M Moto.

Exxe Group's M Meditech Division achieved record quarterly results for Q2 ended September 30, 2022, with revenues increasing by 55% to $2,173,480 and EBIT up 117.8% to $1,271,411. The EBIT margin rose to 58.5% from 41.6% in the previous year. The first half of fiscal 2023 is approaching the full-year figures for 2022. Growth was driven by strong demand in medical hygiene products across government and military sectors. Exxe anticipates even stronger results for the full fiscal year.

Exxe Group (OTC PINK:AXXA) reported its 1Q2023 financial results with revenues of $11.7 million, up 6.5% from $11.0 million in 1Q2022. The company's net income increased by 77.5% to $3.3 million from $1.8 million year-over-year. Total assets rose by 10.2% to $257.6 million compared to $233.8 million previously. The company successfully restructured over $20 million in debt and reported significant gains in automotive demand and agricultural commodity pricing.

Exxe Group, Inc. (OTC PINK:AXXA) reported significant financial growth for the fiscal year ending March 31, 2022. Revenue surged by 47% year-over-year, reaching $49.8 million, while quarterly net income jumped 84.5% to $3 million. Shareholder equity increased by 25% due to a notable $10 million reduction in long-term debt. The company achieved a gross profit margin of 61.9% in Q4, attributed to its focus on high-margin sectors like M-Moto and Daskonzept. Exxe anticipates ongoing growth despite a challenging economic backdrop.

Exxe Group (OTC PINK:AXXA) reported significant growth for its subsidiary M-Moto, achieving a 358% increase in annual revenue, from $2.2 million in January 2020 to $10.01 million in January 2022. EBITDA also grew by 301%, reaching $3.53 million. The Company anticipates annualized revenues of $12 million by the end of 2022. M-Moto's expansion targets a Total Addressable Market of approximately 1 million engines annually across Europe.