ENDEXX Corporation (OTCMKTS:EDXC) Breaks its Sales Record Again

ENDEXX Corporation (OTCMKTS:EDXC) has gathered the attention of investors and analysts with its recent price jump, but in truth, the stock has been priming for a rise for about a year.Closer inspection reveals the level of effort invested in the company by management, and it has only just begun to pay off. In this piece, we go into details on the company, cover its financial performance over the past year and its new agreement with Impulse Health Systems.Here is the stock’s price action over the last year: EDXC Daily ChartCompany ProfileEndexx Corp. was established in September 1997 and has its head office located in Cave Creek, Arizona. It is a diversified holding company which engages in the development of emerging technologies and plant-based nutraceuticals. The firm is made up of two operating units M3Hub: Autospense™ and CBD Unlimited. The latter engages in the formulation research and distribution of medicinal grade, accredited industrial hemp extracts for the nutraceutical space. The firm has set up multiple pet and human including isolates, essential oil tinctures capsules, teas and coffees, vape formulas, energy shots, oral sprays, topical mists and gel rub, among others. One of the firm’s best-selling products, Phyto-Bites, is a CBD-infused soft chews for dogs created to improve health and facilitate the lessening of pain, inflammation and separation anxiety.Recent DevelopmentsJust last month, the firm announced that it had entered into an agreement with Impulse Health to take retail merchandise into its AutoSpens Technology dispensing solutions.Based on market study and research results, automation in the global pharmaceutical sector is projected to reach nearly $10 billion by 2022. It was also estimated that retail automation globally could go as high $18.99 billion by 2023. Recently, there has been a general shift towards the use of automation in multiple industries, with the pharmaceutical industry not excluded, with an aim to manage costs, improve efficiency, speed and accuracy of results.Through the partnership, Endexx and Impulse Health will work together to develop an improved client-focused platform to more than twenty thousand retail and pharmacy location across the country through the use of Endexx’s AutoSpense industry-grade automated inventory control and dispensing platform.With this, customers will have a more efficient retail experience and access to inventory to products and prescriptions even after normal operating hours. Furthermore, the retail stores and pharmacies will be able to cross-sell and improve security and reduce operating costs which will lead to increased productivity and sales.Vice President of the Business Development unit for Impulse Health, Dustin Sullivan, outlined management’s excitement over the opportunity to bring AutoSpense™ to the market, as it helps to develop a new level of expectation for customer access to regulated products. The technology offers an improved solution for the firm’s retail partners which protects consumer privacy, reduces overall product shrink and improves tracking of regulated products.Todd Davis, Endexx Corporation Chief Executive, also mentioned that Impulse Health has a very successful and talented management unit which possesses a lot of experience in both retail and pharmacy and the company sees a balancing fit for its merchandise within its AutoSpens platform. The partnership epitomizes a momentous landmark in evolving the firm’s technology onward. This agreement is expected to considerably enlarge the firm’s reputation across the country in both technology and points of distribution for the nutraceutical product line.Financial PerformanceFor the operating period which ended in September 2017, the firm reported that it had exceeded it previous records sales. During the year, the firm generated $0.5 million in sales, a whopping increase of 127% compared to the previous year. The gross profit margin for the year was $0.29 million, up by an even more impressive 433% from the previous period. Operating loss was $0.2 million, a drop of 71% largely as a result of the firm’s success in reducing its operating expenses by 40%. Net loss for the full year was $0.59 million, another improvement from the last year where the company had an operating loss of $0.7 million.Recently, the Endexx Corporation reported record sales growth for the first quarter of its 2018 operations. For the quarter ended on December 31, 2017, the firm had generated $0.2 million, a 32% quarterly increase and 123% increase from the same quarter of the last period. In that time, Endexx acquired Holistic Earth Remedies LLC for its very lucrative topical pain relief merchandise, received an award for having coming up with the best advancements in the hemp industry during Uptick Newswire’s Uppie Awards, and successfully sponsored “Athletes for Care” which was held at the 4th Annual Cannabis World Congress and Business Exposition.ConclusionENDEXX Corporation is a picture of operational health at the moment. While entering business progressive partnerships, its financial performance has steadily improved over the years. It is only a matter of time before market grows fully aware of its potential.We will be updating our subscribers as soon as we know more. For the latest updates on EDXC, sign up below!Disclosure: We have no position in EDXC and have not been compensated for this article.