Endexx Surpasses Record Annual Revenues in Fiscal First Quarter 2023

Rhea-AI Summary

Endexx Corporation (OTC:EDXC) reports over $6 million in revenue in the first sixty days of its fiscal quarter, surpassing its previous annual revenue by more than 500%. This increase is attributed to the HYLA acquisition and heightened demand for their CBD pain products and men's skincare line, now selling in 13 countries. The products are available in major retailers, including Amazon and Walgreens. CEO Todd Davis emphasizes the ongoing benefits from HYLA's distribution network, expecting continued growth and new opportunities in upcoming quarters.

Positive

• Revenue exceeds $6 million in first 60 days, highest in company history.
• Surpassed previous best yearly revenue by over 500%.
• Successful acquisition of HYLA contributing significantly to revenue.
• Products available in 4 of the top 8 U.S. retailers.

Negative

• None.

More Than $6M in Revenue in First Sixty Days- More Than 5X Endexx’s Best Yearly Revenue Due to HYLA™ Acquisition

CAVE CREEK, AZ, Nov. 30, 2022 (GLOBE NEWSWIRE) -- via NewMediaWire – Endexx Corporation (OTC:EDXC), a provider of innovative, plant-based, and sustainable health and skincare products, today announces its record revenue, midway through its first fiscal quarter of 2023 and has surpassed its best yearly revenue figure by more than five hundred percent.    

Watch Proactive Investors Endexx Interview with Endexx CEO Todd Davis and Nick Mehdi CEO Hyla:

https://www.youtube.com/watch?v=BX3Qkasq7q0

The Company attributes these record achievements to a combination of HYLA international purchase orders from Italy and other Western European Countries, a Central Asian nation and Dubai, as well as an increased presence for the Company’s CBD pain products and men’s skin care line, which recently began sales in 13 countries, including in the U.S., on Amazon. Combined, the two product lines are available in four of the top eight retailers in the United States, including Amazon, Walgreens, Target and CVS stores.

“Our acquisition of HYLA has already exceeded our expectations, and the revenue has more than paid for our cash outlay to acquire the Company. We believe that the powerful distribution network that HYLA brought to the table, combined with our increasing presence in U.S. retail, will continue to reap benefits beyond this quarter and regularly create new record-setting opportunities,” commented Todd Davis, CEO of Endexx. “We continue to expand our market presence for all categories, and expect to provide new and exciting updates across our three product lines over the coming quarters.”

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 is the recent revenue achievement of Endexx Corporation (EDXC)?

Endexx Corporation has reported over $6 million in revenue in the first sixty days of its fiscal quarter, exceeding its previous annual revenue by more than 500%.

How did the HYLA acquisition affect Endexx's revenue?

The HYLA acquisition has significantly boosted Endexx's revenue, contributing to the record earnings reported shortly after the acquisition.

In which countries are Endexx's products available?

Endexx's products are sold in 13 countries, including the U.S., and are available through major retailers like Amazon and Walgreens.

How is Endexx Corporation planning to expand its market presence?

Endexx plans to expand its market presence across its product lines and expects to release new updates and products in upcoming quarters.