Endexx Secures $3.8M Order for Non-Nicotine Vape Product HYLA From Italy

Rhea-AI Summary

Endexx Corporation (OTC:EDXC) announced a new $3.8 million order for its non-nicotine vape product, HYLA, from Italian customers, contributing to a revenue of approximately $6 million in the first two fiscal quarters of 2023. This revenue significantly surpasses the total for the entire previous year. The order indicates strong market demand and enhances the company’s strategic reach in influential regions, particularly eastward from Italy. CEO Todd Davis highlighted positive market dynamics and the successful reception of HYLA, driven by its natural ingredients.

Positive

• Secured a new $3.8 million order for HYLA, boosting revenue to approximately $6 million in the first two fiscal quarters of 2023.
• Revenue significantly surpasses the total for the previous fiscal year, indicating strong growth.
• Increased demand for non-nicotine products may enhance market position in Italy and adjacent regions.

Negative

• None.

Italian Market Significantly Opens Opportunities, Increasing Company Revenue to Approximately $6M During First Two Fiscal Quarters

CAVE CREEK, AZ, Nov. 02, 2022 (GLOBE NEWSWIRE) -- via NewMediaWire – Endexx Corporation (OTC:EDXC), a provider of innovative, plant-based, and sustainable health and skincare products, today announces it has secured a new $3.8 million USD order for its newly acquired, non-nicotine based vape product, HYLA from customers in Italy. 

This $3.8M order is significant in two ways for Endexx. First, it provides the Company with more than $6M of revenue in its first two fiscal quarters of 2023, significantly surpassing its revenue for the entirety of the previous fiscal year. Given that the order came from customers in Italy, it is expected that this influential market will also expand the Company’s footprint in regions to the east, where it is believed that in addition to providing a geographic connection, Italy is considered very influential from both an economic and cultural perspective.

“HYLA continues to perform beyond our early-stage expectations since the acquisition on August 31st,” commented Todd Davis, CEO of Endexx. “Our revenue has dramatically improved as markets and countries continue to seek alternative options to nicotine vaping. HYLA has been in demand for both its natural ingredients, including guarana and L-dopa, and feedback on the superior experience and assortment.”

“The opening of the corridor from Italy eastward is important to us as Italy has long proven to be a key market internationally. Such significant purchase orders bode well for these additional regions, and we look forward to having those follow suit, as well as, providing opportunities for our other CBD-based pain and men’s grooming products.  Our progress thus far is very encouraging as we have secured nearly 7 million in revenue in the first sixty days of our fiscal 2023. We will continue to provide breaking news and updates as sales accelerate,” concluded Mr. Davis.

About Endexx Corporation

Endexx Corporation develops and distributes all natural, plant-derived topical skincare products.  Its products vary from balms, creams, lotions, butters, masks, scrubs, and oils, all with the shared purpose of healthy skin and grooming wellness.  The science behind these products involves a decade of clinical research in the field and lab work to provide functional formulation with ingredients for optimal absorption and support of skin health. www.endexx.com

Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995

We caution that any forward-looking statements (as such term is defined in the U.S. Private Securities Litigation Reform Act of 1995) contained in this press release or made by us, our management, or our spokespeople involve risks and uncertainties and are subject to change based on various factors, many of which are beyond our control. Accordingly, our future performance and financial results may differ materially from those expressed or implied in any such forward-looking statements. Forward-looking statements include, without limitation, statements regarding our future operating results, the implementation and impact of our strategic plans, and our ability to meet environmental, social, and governance goals. Words such as “estimate,” “commit,” “target,” “goal,” “project,” “plan,” “believe,” “seek,” “strive,” “expect,” “anticipate,” “intend,” “potential” and any similar expressions may identify forward-looking statements. Risks associated with the following factors, among others, could affect our financial performance and cause actual results to differ materially from those expressed or implied in any forward-looking statements:

Except as may be required by law, we assume no obligation and do not intend to make publicly available any update or other revisions to any of the forward-looking statements contained in this press release to reflect circumstances existing after the date of this press release or to reflect the occurrence of future events, even if experience or future events make it clear that any expected results expressed or implied by those forward-looking statements will not be realized. More information on potential factors that could affect our results is included “Risk Factors” in our Annual Report on Form 10-K filed with the Securities and Exchange Commission on March 31, 2022.

For further information, please contact:

Endexx Corporation
Endexx@endexx.com
480-595-6900

Investors:
Scott Arnold
CORE IR
scotta@coreir.com

Media:
Jules Abraham
CORE IR
julesa@coreir.com
917-885-7378

FAQ

What recent order did Endexx Corporation receive?

Endexx Corporation received a $3.8 million order for its non-nicotine vape product, HYLA, from customers in Italy.

How much revenue did Endexx report in the first two fiscal quarters of 2023?

Endexx reported approximately $6 million in revenue during the first two fiscal quarters of 2023.

How does the recent revenue compare to previous years for Endexx Corporation?

The revenue of $6 million in the first two quarters of 2023 significantly surpasses the total revenue for the entire previous fiscal year.

What does the new order signify for Endexx's market strategy?

The new order indicates strong market demand and helps expand Endexx's strategic reach, particularly towards eastern regions from Italy.

What are the key ingredients in HYLA that are driving its demand?

HYLA is in demand for its natural ingredients, including guarana and L-dopa.