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ASX companies begin to show revenue from cannabis sales

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ASX listed companies show their financial standing in their recently published half-yearly reports.

Of the cannabis-only companies, most are showing revenue – however the majority is from overseas sales.

Elixinol Global (AXS: EXL) is the clear leader, showing sales revenue of $36.3 million. However Elixinol Global includes subsidiaries Hemp Foods Australia, Elixinol USA, and more.

MGC Pharma (AXS: MXC) comes in second with $882,136 in sales revenue, mainly from their European operations.

Athea Group (AXS: AGH) backs up their statements about patient acquisition, showing on-shore revenue generation of $174,000.

The table below outlines the 11 ASX listed companies focussed solely on cannabis.

Company Market Cap Cannabis Revenue Other Revenue Expenses Profit/Loss
Elixinol $438,420,000 $36,299,000 $326,000 $42,390,000 -$5,765,000
Cann Group $259,850,000 $2,550 $985,616 $5,128,323 -$4,140,157
AusCann $125,180,000 $0 $466,305 $4,904,677 -$4,438,372
Botanix $95,190,000 $0

$450,725

$3,640,974

-$3,190,249
Althea $81,320,000 $174,000 $8,000 $2,548,000 -$2,366,000
THC Global $65,550,000 $815 $2,715,991 $8,566,911 -$5,850,920
Creso $51,490,000 $570,904 $112,806 $8,794,499 -$8,110,789
MGC Pharma $47,300,000 $882,136 $226,528 $3,793,229 -$2,684,565
Zelda $43,810,000 $0 $59,527 $1,334,852 -$1,275,325
BOD Australia $31,570,000 $699,769* $485,655 $3,739,691 -$2,554,267
CannPal $10,710,000 $0 $349,679 $1,057,007 -$707,328
* BOD Australia does not differentiate between its cannabis revenue and revenue generated from other goods.

‘Other Revenue’ is generated from interest on cash reserves, non-cannabis related revenue, and R&D tax credits.

Expenses between these companies also varies significantly. The majority of expenses come from operational costs – employee benefits, legal fee’s, marketing, cost of goods, admin fees, office fees, etc.

Creso (ASX: CPH), however, paid almost $1.5m in ‘consultancy and facilitation fees’, and over $6m in ‘share based payment expenses’, while Botanix Pharma (ASX: BOT) spent around $7.5m in research and development.

AusCann (ASX: AC8), one of the leading companies in terms of valuation ($125.18m) made no revenue, invested no money in research and development, and seems to have little in terms of assets other than $41.7m in cash.

Beyond these companies, there are an additional 17 ASX listed companies not solely involved in cannabis.

 

 

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Blaise Bratter
Blaise Bratter is the Chief Contributor to CannabisIntel. Being involved in the Australian cannabis industry since legalisation in 2016, he is now Operations Manager for ASX listed company MGC Pharmaceuticals.

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