Endexx Corporation (OTC:EDXC) Stock in Focus After Annual Financial Results
The plant-based products space has grown at a breakneck pace over the past few years, and investors are naturally on the lookout for options in the sector. One of the companies that investors could currently look into is Endexx Corporation (OTC:EDXC), which is best known for being a major plant-based lifestyle product developer.
Yesterday, the company entered the news cycle after it announced its financial results for the fiscal year that ended on September 30, 2023. The company reported strong revenues of $3908385 for the 2023 fiscal year, which worked out to a remarkable increase of 83% from the $2138010 that it had reported in the 2022 fiscal year.
Endexx Corporation noted that the growth was a reflection of the strong market demand for its products as well as the strength of its strategic moves. The company further noted that during the 2023 fiscal year, it had managed to expand its international presence considerably. As much as 48% of the total revenues were contributed by its operations in Italy. The company continued to perform strongly in the Russian and United States markets, which further demonstrated the considerable international appeal of Endexx Corporation products. It was also an indictment of the market expansion strategies adopted by the company.
The total assets of the company at the end of the fiscal year stood at $10328161. The strong strategic financial instruments and inventory management of Endexx Corporation further demonstrated its commitment to maintaining a solid operational base for the purpose of supporting growth.
In the news release, the company announced that it was committed to its aim of sustaining the rate of growth and thereby boosting shareholder value. It would aim to achieve those goals through product innovation, strategic marketing, and the expansion of its international market presence.
