Cannabis
HEXO Corp reports financial results for the first quarter fiscal 2020


Key highlights of First Quarter of 2020 fiscal year
- Operational expenses decreased 25% quarter over quarter, to $35.1M in Q1’20, compared with $46.9M in Q4’19
- Launched Original Stash in Quebec, a value brand that seeks to disrupt the black market
- Adult-use grams and gram equivalents sold increased 5% from Q4 to 4,196 kg
- Obtained Phase 1 licence for Belleville, sale of cannabis topicals, extracts, edibles and beverages licence for Gatineau facility, and a research licence for the Company.
Subsequent to quarter end:
- Launched Original Stash in Ontario
- Closed a $70M private placement of 8% unsecured convertible debentures, including key management and board participation of over 10%
OTTAWA, Dec. 16, 2019 (GLOBE NEWSWIRE) — HEXO Corp. (TSX:HEXO; NYSE:HEXO) (“HEXO” or the “Company”) today reported its financial results for the first quarter fiscal 2020 ended October 31, 2019. All amounts are expressed in Canadian dollars.
“We have done some pretty heavy lifting on our operations, as we work towards profitability in 2020. The choices that we have made and implemented have already led to a 25% reduction in our operating expenses,” said Sebastien St-Louis, CEO and co-founder of HEXO Corp. “Cost control combined with our multi-brand approach, an updated strain mix, as well as the introduction of new products, will help us increase our market share and total revenue, leading us towards great results in 2020. I am more confident than ever in our ability to continue down this path and to pivot with more speed and assertiveness should market conditions evolve again.”
Operational and Financial Highlights
For the three months ended | ||||||
Income Statement Snapshot (in millions) | October 31, 2019 | October 31, 2018 | ||||
$ | $ | |||||
Gross cannabis revenue | 19.3 | 6.6 | ||||
Excise taxes | (4.8 | ) | (1.0 | ) | ||
Net revenue from sale of goods | 14.5 | 5.7 | ||||
Ancillary revenue | 0.0 | 0.0 | ||||
Gross margin before fair value adjustments | 4.6 | 2.8 | ||||
Gross margin | (23.4 | ) | 7.2 | |||
Operating expenses | 35.1 | 22.0 | ||||
Loss from operations | (58.5 | ) | (14.8 | ) | ||
Restructuring costs | (3.8 | ) | – | |||
Other income/(expenses and losses) | (6.3 | ) | 2.0 | |||
Net loss before tax | (68.5 | ) | (12.8 | ) | ||
Tax recovery1 | 6.0 | – | ||||
Net loss | (62.4 | ) | (12.8 | ) | ||
1 The income tax recovery figure represents the correct amount of recovery in the period and will not be subject to change upon the restatement of the July 31, 2019 and October 31, 2019 MDA’s. See Notice to Reader within the interim condensed consolidated financial statements for the three months ended October 31, 2019 dated December 15, 2019. |
First Quarter 2020 Highlights
Shipped revenue in Q1’20 decreased slightly to $20.2M, compared with $22.8M in Q4’19. Shipped revenue was reduced by price concessions of $1.2M in Q1’20, compared with $2.8M in Q4’19 and return provisions of $0.7M in Q1’20 compared with $1.0M in Q4’19, which yielded gross adult-use sales of $18.3M in Q1’20 and $19.0M in Q4’19. Additionally, the company realized sales returns of $0.6M in Q1’20 and $Nil in Q4’19 was reversed from the provision for returns made during the previous quarter. Overall during the period gross adult use sales decreased moderately by 4%. The provisions are reflective of a general best estimate provision for returns and price adjustments based on the Company’s assessment of sell-through and slow-moving inventory.
Net revenue in Q1’20 decreased slightly to $14.5M, compared to $15.4M, in Q4’19, and increased from $5.7M in Q1’19.
Adult use sales volume in Q1’20 increased 5% to 4,196 kg from 4,009 kg equivalents sold in the prior quarter. The SQDC contributed 3,080 kg, ALGC contributed 474 kg, OCS contributed 518 kg, other provinces and private retailers contributed 124 kg.
Gross adult-use revenue per gram equivalent decreased to $4.35 in Q1’20 from $4.74 in Q4’19, reflective of the provision for sales returns and price adjustments recorded in the quarter. The provision is reflective of a general best estimate provision for returns and price adjustments based on the Company’s assessment of sell-through and slow-moving inventory. This was partially countered by the addition of the premium brand Up cannabis, which commands revenue of $7.03 per gram on dried flower during the quarter. The adult-use net revenue per gram equivalent decreased to $3.24 in Q1’20 from $3.51 in Q4’19, reflecting the impact of the provision above.
Q1’20 | Q4’ 19 | Q1 ’19 | ||||||
Shipped Revenue (in millions) | $ | 20.2 | $ | 22.8 | $ | 5.2 | ||
Total gram and gram equivalents sold | 4,196 | 4,009 | 952 | |||||
Shipped revenue per gram and gram equivalent sold | $ | 4.82 | $ | 5.69 | $ | 5.45 | ||
Less: price concessions (1) | (0.30 | ) | (0.71 | ) | – | |||
Less: provision for sales returns (1) | (0.17 | ) | (0.24 | ) | – | |||
Adult-use gross revenue per gram and gram equivalent sold | $ | 4.35 | $ | 4.74 | $ | 5.45 | ||
(1) Computed as the price concession or provision for returns per gram and gram equivalent sold in the period. |
Gross margin before fair value adjustments for Q1’20 was $4.6M or 31% of net revenue from sale of goods, compared to $5.1M and 33% in the prior quarter.
The Company incurred an impairment loss on inventory of $25.5M during Q1’20 compared with $16.9M in Q4’19. The impairment loss was realized on the Company’s inventory in comprised of the following;
- Impairment of a surplus of cannabis trim (trim is the accumulation of the cannabis’ sugar leaves during the dry trimming process and is primarily used for extraction purposes) and milled products the amount of $16.4M due to an excess of stock relative to the Company’s short-term demand for cannabis distillate production;
- Impairment of bulk purchased product of $4.4M due, in part, to an oversupply in the market of bulk products with lower potencies as well as a relatively low value when compared to competing bulk goods with a higher potency in the current adult-use market;
- Impairment of oil based finished goods of $3.4M due a surplus of finished goods as oil-based products haven’t captured the market share as originally estimated. Also contributing to the impairment is the decision made by certain provinces to return oil products with packaged dates greater than 3 to 4 months old; and
- Impairment of finished goods of $1.2M which are required to be archived as at October 31, 2019 due to Health Canada requirements with a net realizable value of $nil.
Operating expenses decreased 25% quarter over quarter to $35.1M in Q1’20, compared with $46.9M in Q4’19 as a result of a decrease in G&A expenses of 30%, marketing expenses of 35% and stock-based compensation expense of 20%, as the Company continues to reduce previous spending levels to refocus operations on becoming adjusted EBITDA positive.
Operating expenses increased from $22.0M in Q1’19, reflecting the significant increase to the scale of our operations over the last year.
Loss from operations for the quarter was ($58.5M), compared with ($60.7M) in the prior period and ($14.7M) for the comparable quarter year over year. Excluding non-cash impairment charges in Q1’20, adjusted net loss was ($33.0M) compared with ($43.7M) in Q4’19. The increase in loss year over year is attributable to the larger magnitude of the Company’s operations, the expanding scale production and sales in the period, and an impairment loss.
Adjusted EBITDA (in millions)
Q1’20 | Q4’ 19 | Q3 ’19 | Q2 ’19 | Q1 ’19 | ||||||
$ | $ | $ | $ | $ | ||||||
Total net loss | (62.4 | ) | (56.7 | ) | (7.8 | ) | (4.3 | ) | (12.8 | ) |
Interest income | (0.6 | ) | (1.6 | ) | (1.2 | ) | (1.3 | ) | (1.1 | ) |
Income tax | (6.0 | ) | (3.8 | ) | – | – | – | |||
Depreciation of property, plant and equipment | 1.3 | 0.6 | 0.1 | 0.5 | 0.6 | |||||
Amortization of intangible assets | 1.7 | 1.4 | 0.1 | 0.1 | 0.2 | |||||
Standard EBITDA | (66.0 | ) | (60.1 | ) | (8.7 | ) | (5.1 | ) | (13.1 | ) |
Adjustments: | ||||||||||
Share-based compensation | 8.2 | 10.2 | 8.2 | 5.0 | 4.7 | |||||
Share of losses from joint ventures and associates | 1.7 | 1.3 | 1.1 | 0.8 | 2.3 | |||||
Restructuring costs | 3.7 | |||||||||
Realized fair value amounts on inventory sold | 6.7 | 7.3 | 4.7 | 3.7 | 0.7 | |||||
Unrealized gain on changes in fair value of biological assets | (7.1 | ) | (5.3 | ) | (20.1 | ) | (8.4 | ) | (5.1 | ) |
Write off of Inventory, biological assets and destruction costs | 28.3 | 16.9 | – | – | – | |||||
Adjusted EBITDA | (24.6 | ) | (29.8 | ) | (14.8 | ) | (4.0 | ) | (10.5 | ) |
Adjusted EBITDA as a % of net loss | 39 | % | 53 | % | 191 | % | 92 | % | 82 | % |
Net revenue from cannabis sales | 14.5 | 15.4 | 13.0 | 13.4 | 5.6 | |||||
Adjusted EBITDA margin (%) | (59 | %) | (52 | %) | (87 | %) | (335 | %) | (53 | %) |
During Q1’20, the Company’s calculated adjusted EBITDA results were ($24.6) or 39% of the net loss in the period. This represents a 43% decrease as compared to the same period in fiscal 2019, most influenced by the increased share-based compensation and fair value adjustments on inventory sold and biological assets. Adjusted EBITDA decreased by 14% from Q4’19.
The adjusted EBITDA’s gross margin remained decreased to (59%), a decrease of 6% from the same comparative period from fiscal 2019 and 7% with the previous quarter.
Restructuring Costs
Unique to the period were restructuring costs incurred. These expenses are the result of the restructuring efforts as discussed in the section – Corporate Restructuring. These costs amounted to $3.7M, primarily comprised of severance and other payroll related termination costs. These expenses are deemed non-operating related as they are not result of the Company normal operating activities and therefore, have not been included in the net operating loss.
Block B
As previously disclosed on November 15, 2019, upon discovery of the licensing issue in Block B of the Company’s Niagara facility, inventory from Block B was quarantined and held back from sales. The inventory was kept on the books and although destruction was a possible outcome, the Company has reassessed any risks related to such inventory and concluded that it is cleared for sale and will not be subject to destruction. Note that Block B is now fully Licensed by Health Canada.
Financial Position
As at October 31, 2019, the Company held cash, cash equivalents and short-term investments of $73.5M. The Company has a $65M credit facility with a syndicate of Canadian chartered banks. This consists of $50M term credit and a $15M revolving line of credit which will be used in part to finance the continuing expansion of the Gatineau campus as well as the leasehold improvements at the Belleville facility without diluting the shareholders of HEXO. Subsequent to the end of the quarter, the Company closed a $70M private placement of 8% unsecured convertible debentures, maturing on December 5, 2022.
Operational Update
As previously announced, during the first quarter fiscal 2020, the Company is improving its cost structure and operational efficiencies. HEXO continues to drive improvements in yields and processing facilities. Operations in the suspended areas can be recommenced when required. Current annualized production run rate is approximately 90,000 kgs of dried cannabis equivalents, comprised of approx. 50% dried flower, with the balance comprised of trim, which can be used for a variety of value-added products. The Company continues to ramp up production towards over 100,000 kg per year.
In order to achieve its cost and operational efficiency goals, management is focusing on the following priorities:
- Driving sales through new product offerings and leveraging increased analytics for decision making
- Achieving operational excellence
- Right-sizing our operational expenses to drive towards profitability
- Commissioning our state of the art, manufacturing facility in Belleville
- Continuing to invest in R&D and Intellectual Property
- Future partnerships through our “Powered by HEXO” strategy
- Dedication to corporate social responsibility initiatives
Reservation of Opinion
The Company’s auditors have reviewed the condensed interim consolidated financial statements of the Company for the quarter ended October 31, 2019. In such review, they have expressed a reservation of opinion as it relates to an identified error related to the deferred tax liability in the Company’s audited financial statements for the fiscal year ended July 31, 2019. As described in Note 32 of the interim statements, the Company identified an error related to the deferred tax liability as at July 31, 2019 which resulted from the Company not netting a tax loss generated in one subsidiary against a deferred tax liability generated by a different subsidiary. Because these two tax positions existed in two separate entities, the Company’s original position was that they could not be offset or reduce one another. However, the two subsidiaries were amalgamated and consolidated on August 1, 2019, and on that basis the Company should have anticipated the amalgamation would result in the two tax balances reducing themselves and recognized a reduction of the deferred tax by $14.4M, leaving a deferred tax balance at July 31, 2019 of $6.0M.
This error remains in the deferred tax liability in both the interim financial statements for the quarter ended October 31, 2019 and the audited financial statements for the fiscal year ended July 31, 2019. The Company will restate and refile both sets of financial statements correcting for this error.
The management’s discussion and analysis for the period and the accompanying financial statements and notes are available under the Company’s profile on SEDAR at www.sedar.com and on its website at www.hexocorp.com.
Conference Call
The Company will hold a conference call, December 16th, 2019 to discuss these results. Sebastien St-Louis, CEO, and Stephen Burwash, CFO, will host the call starting at 8:30 a.m. Eastern time. A question and answer period will follow management’s presentation
Date: December 16, 2019
Time: 8:30 a.m. EDT
Webcast: https://event.on24.com/wcc/r/2145409/A436DA4482DF5575CFB986B3CD309BB2
Replay information:
A replay of the call will be accessible by telephone until 11:59 a.m. EDT on December 23, 2019.
Toll Free Dial-In Number: 1-888-390-0541.
Replay Password: 157917#
For previous quarterly results and recent press releases, see hexocorp.com.
About HEXO Corp
HEXO Corp is an award-winning consumer packaged goods cannabis company that creates and distributes innovative products to serve the global cannabis market. Through its hub and spoke business strategy, HEXO Corp is partnering with Fortune 500 companies, bringing its brand value, cannabinoid isolation technology, licenced infrastructure and regulatory expertise to established companies, leveraging their distribution networks and capacity. As one of the largest licenced cannabis companies in Canada, HEXO Corp operates in Ontario and Quebec. The Company is also expanding internationally and has a foothold in Greece to establish a Eurozone processing, production and distribution centre. The Company serves the Canadian adult-use markets under its HEXO Cannabis and Up Cannabis brands, and the medical market under HEXO medical cannabis. For more information please visit hexocorp.com.
Forward-Looking Statements
This press release contains forward-looking information and forward-looking statements within the meaning of applicable securities laws (“forward-looking statements”). Forward-looking statements are based on certain expectations and assumptions and are subject to known and unknown risks and uncertainties and other factors that could cause actual events, results, performance and achievements to differ materially from those anticipated in these forward-looking statements. Forward-looking statements should not be read as guarantees of future performance or results. A more complete discussion of the risks and uncertainties facing the Company appears in the Company’s Annual Information Form and other continuous disclosure filings, which are available on SEDAR at www.sedar.com and EDGAR at www.sec.gov. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company disclaims any intention or obligation, except to the extent required by law, to update or revise any forward-looking statements as a result of new information or future events, or for any other reason.
Investor Relations:
Jennifer Smith
1-866-438-8429
invest@HEXO.com
www.hexocorp.com
Media Relations:
(819) 317-0526
media@hexo.com
Cannabis
CBD Skin Care Market Size is projected to reach USD 6466.43 million by 2030, growing at a CAGR of 32.15%: Straits Research

New York, United States, Sept. 20, 2023 (GLOBE NEWSWIRE) — Cannabidiol (CBD), derived from cannabis resin, is non-intoxicating. Cannabinoid (CBD) is most typically used with oils. CBD oil has anti-inflammatory, antioxidant, and skin-soothing properties. CBD oil is currently a popular ingredient in skin care and personal care products.
Since marijuana and cannabis-based cosmetics were legalized, CBD-infused skin care products have gained popularity. CBD-infused skin care products are popular because they relax. Anti-inflammatory and anti-oxidant properties make it a promising skin care ingredient. CBD-based skincare products can improve sleep and treat eczema, psoriasis, and acne. CBD-based skin care is popular among cosmetic brands. CBD-infused skin care is marketed as “natural cosmetics” CBD skin care products are expected to become popularity due to their versatility.
Get a Free Sample Copy of This Report @ https://straitsresearch.com/report/cbd-skin-care-market/request-sample
Global CBD Skin Care Market: DRIVERS
- Cannabis-Derived Skin Care Products Are Gaining Popularity
A surge in the working population around the world has increased spending power and awareness of the range of commodities on the market, boosting sales of quality products. These factors have led to growing global demand for natural and organic personal care items.
People are becoming increasingly familiar with the benefits of CBD skin care products, such as CBD oil in their daily coffee, using it to their skin to relieve pain, consuming it to relieve anxiety, and using it in their sex life.
- Social-Media’s Impact on Skin Diseases
Because of pollution and UV radiation, which can cause skin burns, blackening, and cancer, consumers are turning to CBD-infused cosmetics and skincare products. Consumers’ increased acquaintance with the newest skin care products helps boost sales. Companies increasingly use celebrities to sell their products and spend a lot on advertising.
YouTube and Instagram are important influences on today’s society. These portals help people find CBD skin care products. Rising customer awareness of the benefits and availability of new products should benefit the global market in the futur
Global CBD Skin Care Market: KEY FUTURE OPPORTUNITIES
- Technological Advances and Mergers Create New Opportunities
Recent scientific advances have resulted to innovative CBD extracts and combinations for skin care. CBD-infused goods from multinational firms are capturing new markets and establishing new cash streams. Avon plans to develop vegan skin care products with CBD oil in 2020. As the cannabis beauty industry grows, component approaches vary. These factors boost market growth.
A growing number of technological innovations are driven by a desire to lower production costs and to foster sustainable growth from 2022 to 2030.
Report Scope
Report Metric | Details |
Market Size by 2030 | USD 6466.43 million |
Market Size in 2021 | USD 526.09 million |
CAGR | 32.15% (2022-2030) |
Historical Data | 2020-2021 |
Base Year | 2022 |
Forecast Period | 2023-2031 |
Forecast Units | Value (USD million) |
Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
Segments Covered | By Technology, By Application, By Location |
Geographies Covered | North America, Europe, Asia-Pacific, LAME and Rest of the World |
Key Companies Profiled/Vendors | Kiehl’s LLC, Medical Marijuana, ENDOCA, Elixinol Global ltd, Lord Jones, Icanic Brands Company, Inc., LEEF Organics, The CBD Skincare Co, Kana Skincare, Apothecana, Josie Maran Cosmetics, FOLIUM BIOSCIENCES, CBD for life, Pacific Roots LLC, |
Key Market Opportunities | Technological Advances and Mergers Create New Opportunities |
Key Market Drivers | Cannabis-Derived Skin Care Products Are Gaining Popularity |
Buy Now Full Report @ https://straitsresearch.com/buy-now/cbd-skin-care-market
North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa make up the CBD Skin Care Market.
North America, which had over 45% of the market in 2021, is expected to grow quickest. Demand for CBD skin care products in North America is expected to continue high due to a large client base and the legalization of marijuana. Due to legalization in 33 states and DC, the US possesses the world’s largest cannabis market. Cannabis legalization and well-known beauty product makers should boost industry growth in the next years.
CBD-infused skin care products may fuel US customer demand. The FDA Regulation of Cannabidiol (CBD) Products prohibits marijuana but not hemp or cannabis. Manufacturing and selling CBD derivatives is lawful. CBD derivatives may be used as lotions, serums, and ointments.
Asia Pacific will grow rapidly in the future years. China, India, Japan, and Korea are expected to see substantial growth. J-beauty and K-beauty lead the worldwide skincare market, despite cannabis being illegal in Asia. This market is expected to grow rapidly in Asia.
China is one of the main manufacturers of cannabis made from hemp, and the World Bank and IMF expect it to monopolize the market throughout the predicted period. China allows the production and sale of CBD products with a maximum 0.3% THC content from cannabis Sativa fruit, seed oil, and leaf extract. This benefits its use in high-end skincare and luxury cosmetics.
Due to changing legislation, India’s CBD skin care market is growing. The Narcotic Drugs and Psychotropic Substances Act of 1985 says it’s unlawful to produce cannabis in the U.S., although states can allow its commercial or research cultivation.
Key Highlights
- The Global CBD Skin Care Market size is predicted to reach at USD 6466.43 million by 2030, increasing at a CAGR of 32.15% from 2022 to 2030.
- By Source,the Global CBD Skin Care Market is segmented into Hemp and Marijuana. CBD skin care products derived from hemp maintained the biggest market share.
- By Type,the Global CBD Skin Care Market is segmented into Oils, Creams & Moisturizers, Masks & Serums, Cleansers, and Others. In 2021, the market was led by skin care oils containing CBD.
- By Region,the Global CBD Skin Care Market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. The market share is dominated by North America.
Major Players in Global CBD Skin Care Market
- Kiehl’s LLC
- Medical Marijuana
- ENDOCA
- Elixinol Global ltd
- Lord Jones
- Icanic Brands Company, Inc.
- LEEF Organics
- The CBD Skincare Co
- Kana Skincare
- Apothecana
- Josie Maran Cosmetics
- FOLIUM BIOSCIENCES
- CBD for life
- Pacific Roots LLC
- Ecogen labs
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Global CBD Skin Care Market: Segmentation
BY SOURCE
- Hemp
- Marijuana
BY TYPE
- Oils
- Creams & Moisturizers
- Masks & Serums
- Cleansers
- Others
BY GEOGRAPHY
- North America
- Europe
- Asia Pacific (APAC)
- Latin America
- Middle East and Africa (MEA)
TABLE OF CONTENT
- EXECUTIVE SUMMARY
- RESEARCH SCOPE & SEGMENTATION
- Research Objectives
- Market Definition
- Limitations & Assumptions
- Market Scope & Segmentation
- Currency & Pricing Considered
- MARKET OPPORTUNITY ASSESSMENT
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- Emerging Regions / Countries
- Emerging Companies
- Emerging Applications / End Use
- Investment Landscape
- New Business Models / Revenue Streams
- TAM
- MARKET TRENDS
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- Drivers
- Market Warning Factors
- Latest Macro Economic Indicators
- Geopolitical Impact
- Human Factors
- Technology Factors
- MARKET ASSESSMENT
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- Porters Five Forces Analysis
- Value Chain Analysis
- Sales And Distribution Channel Analysis
- Average Pricing Analysis
- Patent Analysis
- M & A Agreements & Collabration Analysis
- Export Import Analysis
- ESG TRENDS
- GLOBAL CBD SKIN CARE MARKET SIZE ANALYSIS
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- Global CBD Skin Care Market Introduction
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- Introduction
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- EUROPE MARKET ANALYSIS
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- Introduction
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- Others
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- By Value
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- China
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- Introduction
- Source By Value
- Hemp
- By Value
- Marijuana
- By Value
- Introduction
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- By Type
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- Introduction
- Type By Value
- Oils
- By Value
- Creams & Moisturizers
- By Value
- Masks & Serums
- By Value
- Cleansers
- By Value
- Others
- By Value
- Introduction
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- Korea
- Japan
- India
- Australia
- Taiwan
- South East Asia
- Rest Of Asia-Pacific
- MIDDLE EAST AND AFRICA MARKET ANALYSIS
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- Introduction
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- Introduction
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- Source By Value
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- Marijuana
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- Introduction
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- Type By Value
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- Oils
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- UAE
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- Introduction
- Source By Value
- Hemp
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- Marijuana
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- Introduction
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- By Type
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- Introduction
- Type By Value
- Oils
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- Creams & Moisturizers
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- Masks & Serums
- By Value
- Cleansers
- By Value
- Others
- By Value
- Introduction
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- Turkey
- Saudi Arabia
- South Africa
- Egypt
- Nigeria
- Rest Of MEA
- LATAM MARKET ANALYSIS
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- Introduction
- By Source
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- Introduction
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- Source By Value
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- Hemp
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- Marijuana
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- By Type
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- Introduction
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- Type By Value
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- Oils
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- By Value
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- Brazil
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- By Source
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- Introduction
- Source By Value
- Hemp
- By Value
- Marijuana
- By Value
- Introduction
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- By Type
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- Introduction
- Type By Value
- Oils
- By Value
- Creams & Moisturizers
- By Value
- Masks & Serums
- By Value
- Cleansers
- By Value
- Others
- By Value
- Introduction
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- Mexico
- Argentina
- Chile
- Colombia
- Rest Of LATAM
- COMPETITIVE ASSESSMENT
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- CBD Skin Care Market Share By Manufacturers
- CBD Skin Care Market Ranking By Revenue For Manufacturers
- Competitive Dashboard
- Product Mapping
- MARKET PLAYERS ASSESSMENT
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- Kiehl’s LLC
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- Overview
- Business Information
- Revenue
- ASP
- Gross Margin
- Swot Analysis
- Recent Developmments
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- Medical Marijuana
- ENDOCA
- Elixinol Global Ltd
- Lord Jones
- Icanic Brands Company, Inc.
- LEEF Organics
- The CBD Skincare Co
- Kana Skincare
- Apothecana
- Josie Maran Cosmetics
- FOLIUM BIOSCIENCES
- CBD For Life
- Pacific Roots LLC
- Ecogen Labs
- RESEARCH METHODOLOGY
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- Research Data
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- Secondary Data
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- Major Secondary Sources
- Key Data From Secondary Sources
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- Primary Data
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- Key Data From Primary Sources
- Breakdown Of Primaries
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- Secondary And Primary Research
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- Key Industry Insights
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- Market Size Estimation
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- Bottom-Up Approach
- Top-Down Approach
- Market Projection
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- Research Assumptions
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- Assumptions
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- Limitations
- Risk Assessment
- APPENDIX
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- Discussion Guide
- Customization Options
- Related Reports
- DISCLAIMER
Table of Content and Figure @ https://straitsresearch.com/report/cbd-skin-care-market/toc
News Media
Global CBD Skin Care Market Extends at a Healthy CAGR of 32.15%
Have a Look at the Related Research Report
Skincare Products Market: Information by Product Type (Facial Care, Lip Care, and Body Care), Category (Premium Skincare Products and Mass Skincare Products), and Region- Forecast till 2030
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Organic Skin Care Market: Information by Product (Face Cleanser, Face Serum), Distribution Channel (Online, Supermarket/Hypermarket), and Region — Forecast till 2030
Facial Skincare Products Market: Information by Product Type (Facial Cleanser, Toner, Facial Serum, Eye Creams), Distribution Channel (Specialty Stores), and Region — Forecast till 2030
About Straits Research Pvt. Ltd.
Straits Research is a market intelligence company providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision-makers. Straits Research Pvt. Ltd. provides actionable market research data, especially designed and presented for decision making and ROI.
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Cannabis
Legal Cannabis Commercialization Bolsters Vacuum Oven Demand; Essential Role in Processing Extracts and Enhancing Safety Recognized

Dublin, Sept. 20, 2023 (GLOBE NEWSWIRE) — The “Vacuum Ovens Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028” report has been added to ResearchAndMarkets.com’s offering.
The global vacuum ovens market exhibited strong growth in 2022, reaching a total valuation of US$ 234.3 million. According to this report the market is poised for continued expansion, with expectations to reach US$ 343.2 million by 2028. This growth reflects a robust compound annual growth rate (CAGR) of 6.38% during the forecast period from 2023 to 2028.
Vacuum ovens, highly versatile equipment with applications in laboratory research, engineering, and industry, play a pivotal role in the heat treatment process. These ovens conduct heat treatment within an airtight vessel, allowing the creation of a vacuum within the chamber. This capability enables precise control over the heat treatment process and offers several advantages, including:
- Prevention of surface reactions like oxidation or decarburization.
- Removal of surface contaminants such as oxide films and residual traces of lubricants.
- Introduction of substances to the surface layers of the work.
- Removal of dissolved contaminating materials from metals through degassing.
The vacuum oven market’s growth is closely tied to the legalization of cannabis in many parts of the world and the subsequent commercialization of related products. Vacuum ovens play a crucial role for legal cannabis growers in processing cannabis extract BHOs (Butane Hash oil).
These ovens enable the production of purified oil extracts while reducing the risk of fires during the extraction process. Furthermore, vacuum ovens are used in the medical industry to eliminate potentially toxic chemicals from medical devices, including artificial heart valves, pacemakers, and joint implants. These ovens also find application in testing how devices respond to the high vacuum environment of space, making them valuable equipment for the aerospace industry.
Key Market Segmentation:
The global vacuum ovens market report by [Publisher Name] analyzes key trends within each sub-segment and provides forecasts at the global and regional levels for the period from 2023 to 2028. The market is segmented based on product type and application.
Product Type:
- < 200
- 200-300
- > 300
Application:
- Home Appliances
- Commercial Appliances
Regional Insights:
- North America
- Europe
- Asia Pacific
- Middle East and Africa
- Latin America
Competitive Landscape:
The report offers a comprehensive analysis of the competitive landscape, featuring key players such as Cole-Parmer, Memmert GmbH+Co.KG, MTI Corporation, Sheldon Manufacturing Inc, Thermo Fisher Scientific, Accumax India, BINDER GmbH, Cascade TEK, ESPEC, Grieve, JEIO, SalvisLab Renggli, Shanghai Hasuc Instrument, Ted Pella, and Yamato Scientific.
This report provides in-depth insights into the global vacuum ovens market, covering macro overviews, micro details of industry performance, recent trends, key market drivers and challenges, SWOT analysis, Porter’s five forces analysis, value chain analysis, and more. It is a crucial resource for entrepreneurs, investors, researchers, consultants, business strategists, and anyone involved or planning to enter the vacuum ovens industry.
Key Questions Answered in This Report:
- How has the global vacuum ovens market performed and what are the growth prospects in the coming years?
- Which regions are the primary markets in the global vacuum ovens industry?
- What impact has COVID-19 had on the global vacuum ovens industry?
- How is the global vacuum ovens market segmented based on product type?
- What are the applications driving the global vacuum ovens market?
- What are the price trends for vacuum ovens?
- What is the value chain structure of the global vacuum ovens market?
- What are the key factors driving growth and challenges in the global vacuum ovens market?
- Who are the major players in the global vacuum ovens market, and what is the competitive landscape like?
- How are vacuum ovens manufactured?
Key Attributes:
Report Attribute | Details |
No. of Pages | 139 |
Forecast Period | 2022 – 2028 |
Estimated Market Value (USD) in 2022 | $254.3 Million |
Forecasted Market Value (USD) by 2028 | $343.2 Million |
Compound Annual Growth Rate | 5.1% |
Regions Covered | Global |
For more information about this report visit https://www.researchandmarkets.com/r/n83xum
About ResearchAndMarkets.com
ResearchAndMarkets.com is the world’s leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
Attachment
Cannabis
Endexx Announces Amended Consolidated 10-Q/A: Quarterly Report for The Quarter Ending March 31, 2023, Increasing Year-Over-Year 1013%

Endexx Year Over Year Six Month Revenues Grew 528%
CAVE CREEK, AZ, Sept. 19, 2023 (GLOBE NEWSWIRE) — via NewMediaWire – Endexx® Corporation (OTCQB: EDXC), a provider of innovative plant-based wellness and nutritional products, announced today the filing of its amended, consolidated, audited 10-Q/A Quarterly report for the quarter ending March 31, 2023.
Endexx Milestones and Highlights for the quarter ending March 31, 2023
● Year-over-year quarterly revenues increased 1013% from $254,686 to $2,833,378.
● For the six months ended March 31, 2023, Endexx recorded a 528% increase in revenue, from $529,277 to $3,326,087 Year-Over-Year for the same period.
● Six-month losses year-over-year improved, March 31, 2023 were $2,584,678 compared to $4,426,299 in the same period of fiscal 2022.
“Consolidating the audited financials and integrating Hyla’s operations into Endexx, we’ve catapulted into an era marked by unprecedented growth, painting Fiscal 2023 as a canvas of resurgence and robust expansion amidst a two-year stagnation in the cannabis and hemp industry,” said Todd Davis. “This synergy has not just revitalized our foothold in the domestic market but has also catapulted us onto the global stage, significantly multiplying our retail presence into 11 countries, particularly during the initial half of Fiscal 2023.”
www.endexx.com & www.cbdunlimited.com
About Endexx Corporation
Endexx Corporation develops and distributes all natural, plant-derived wellness products and 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
Hyla currently markets its proprietary non-nicotine, guarana and L-Dopa-based vape products in a wide variety of flavors. The Hyla device is the first non-nicotine vape product to be produced in this manner in the United States and provides an unprecedented 4,500 puffs per device. Hyla is currently being distributed in 10 countries and has signed distribution agreements with an additional nine countries. www.tryhyla.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 amended Annual Report on Form 10-K/A filed with the Securities and Exchange Commission on June 9, 2023.
No Offer or Solicitation. This communication shall not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. No offering of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended, and, where applicable, the requirements under the securities laws of any other applicable jurisdiction.
For further information, please contact:
Endexx Corporation
IR@Endexx.com
480-595-6900
-
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