Duyuru • Mar 19
Ecofibre Limited Announces Chief Financial Officer Changes, Effective March 24, 2025 Ecofibre Limited announced the retirement of Jonathan Brown and the appointment of Amy Elizabeth Donley as Chief Financial Officer (CFO) of Ecofibre, effective March 24, 2025. Amy is a dynamic finance leader with a track record of driving successful C-suite financial performance, and developing and implementing commercial strategy and business improvement plans in both large corporate and smaller entrepreneurial companies. She has extensive experience in technical accounting (IFRS and US GAAP), ERP implementations and working within regulated industries. Amy is based in North Carolina and is passionate about sustainability and the opportunities for Ecofibre as the market for sustainable solutions continues to grow. Amy replaces Jonathan Brown as CFO, as Jonathan retires from Ecofibre after many years of service. There will be a one-month transition period. Duyuru • Feb 14
Ecofibre Limited to Report First Half, 2025 Results on Feb 19, 2025 Ecofibre Limited announced that they will report first half, 2025 results on Feb 19, 2025 Duyuru • Sep 02
Ecofibre Limited, Annual General Meeting, Oct 16, 2024 Ecofibre Limited, Annual General Meeting, Oct 16, 2024. Reported Earnings • Aug 29
Full year 2024 earnings released: AU$0.11 loss per share (vs AU$0.12 loss in FY 2023) Full year 2024 results: AU$0.11 loss per share (improved from AU$0.12 loss in FY 2023). Revenue: AU$28.0m (down 14% from FY 2023). Net loss: AU$38.2m (loss narrowed 4.3% from FY 2023). Over the last 3 years on average, the company's earnings growth rate has exceeded its share price growth rate by 2 percentage points per year. New Risk • May 09
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Australian stocks, typically moving 18% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-AU$12m free cash flow). Share price has been highly volatile over the past 3 months (18% average weekly change). Earnings have declined by 71% per year over the past 5 years. Minor Risks Shareholders have been diluted in the past year (8.9% increase in shares outstanding). Market cap is less than US$100m (AU$17.9m market cap, or US$11.8m). Duyuru • Mar 28
Elixinol Wellness Limited (ASX:EXL) completed the acquisition of Ananda Food Pty Ltd from Ecofibre Limited (ASX:EOF). Elixinol Wellness Limited (ASX:EXL) entered into Conditional agreement to acquire Ananda Food Pty Ltd from Ecofibre Limited (ASX:EOF) for AUD 3 million on February 12, 2024. Under the terms of agreement, Elixinol Wellness will pay AUD 2 million as upfront payment and AUD 1 million as earnout consideration. Elixinol Wellness Limited will raise AUD 3.16 million through Rights Issue Offer which will be used in part to finance the acquisition. The deal is expected to be completed by the end of March, 2024. Completion of the Ananda Food acquisition is conditional on raising sufficient funds under the Rights Issue Offer and the satisfaction of a number of customary conditions. As of March 20, 2024, the transaction is expected to close on March 28, 2024.
Elixinol Wellness Limited (ASX:EXL) completed the acquisition of Ananda Food Pty Ltd from Ecofibre Limited (ASX:EOF) on March 28, 2024. Ron Dufficy will now be stepping down from the role of Group Chief Executive Officer and Natalie Butler will join the EXL Board. New Risk • Feb 25
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -AU$6.9m This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-AU$6.9m free cash flow). Share price has been highly volatile over the past 3 months (20% average weekly change). Earnings have declined by 66% per year over the past 5 years. Minor Risks Shareholders have been diluted in the past year (8.9% increase in shares outstanding). Market cap is less than US$100m (AU$31.1m market cap, or US$20.4m). Duyuru • Feb 20
Ecofibre Limited to Report First Half, 2024 Results on Feb 23, 2024 Ecofibre Limited announced that they will report first half, 2024 results on Feb 23, 2024 Duyuru • Feb 14
Elixinol Wellness Limited (ASX:EXL) entered into Conditional agreement to acquire Ananda Food Pty Ltd from Ecofibre Limited (ASX:EOF) for AUD 3 million. Elixinol Wellness Limited (ASX:EXL) entered into Conditional agreement to acquire Ananda Food Pty Ltd from Ecofibre Limited (ASX:EOF) for AUD 3 million on February 12, 2024. The deal is expected to be completed by the end of March, 2024. Duyuru • Jan 30
Ecofibre Limited Receives a Notice from Phil Warner Pty Ltd On January 30, 2024, Ecofibre Limited announced that it had received a notice on January 17, 2024, under section 249D of the Corporations Act 2001, from Phil Warner Pty Ltd to consider a resolution to appoint Alexander James Goff Keach as a director of the Company at a general meeting of the Company to be held on February 28, 2024. Additionally, the Board recommends that the shareholders to vote against the resolution. Duyuru • Nov 29
Ecofibre Limited Announces CEO Changes Ecofibre Limited announced that their long-standing CEO, Eric Wang, has tendered his resignation, and the Ecofibre Board has accepted his resignation effective immediately. Eric Wang joined Ecofibre in 2016 as CFO and Executive Director. Vanessa Wallace will act as interim CEO, and Ecofibre will commence a comprehensive search and make further announcements as appropriate. Duyuru • Oct 05
Ecofibre Limited, Annual General Meeting, Nov 23, 2023 Ecofibre Limited, Annual General Meeting, Nov 23, 2023, at 11:01 AUS Eastern Standard Time. Reported Earnings • Oct 01
Full year 2023 earnings released: AU$0.12 loss per share (vs AU$0.044 loss in FY 2022) Full year 2023 results: AU$0.12 loss per share (further deteriorated from AU$0.044 loss in FY 2022). Revenue: AU$32.5m (up 7.6% from FY 2022). Net loss: AU$39.9m (loss widened 172% from FY 2022). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 44 percentage points per year, which is a significant difference in performance. New Risk • Sep 02
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 8.3% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-AU$8.6m free cash flow). Share price has been highly volatile over the past 3 months (32% average weekly change). Earnings have declined by 53% per year over the past 5 years. Minor Risks Shareholders have been diluted in the past year (8.3% increase in shares outstanding). Market cap is less than US$100m (AU$65.4m market cap, or US$42.2m). Reported Earnings • Aug 23
Full year 2023 earnings released: AU$0.12 loss per share (vs AU$0.044 loss in FY 2022) Full year 2023 results: AU$0.12 loss per share (further deteriorated from AU$0.044 loss in FY 2022). Revenue: AU$32.5m (up 7.6% from FY 2022). Net loss: AU$39.9m (loss widened 172% from FY 2022). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 44 percentage points per year, which is a significant difference in performance. Duyuru • Aug 18
Ecofibre Limited to Report Fiscal Year 2023 Results on Aug 22, 2023 Ecofibre Limited announced that they will report fiscal year 2023 results on Aug 22, 2023 Recent Insider Transactions • Mar 22
CEO, MD & Director recently bought AU$58k worth of stock On the 15th of March, Eric Wang bought around 289k shares on-market at roughly AU$0.20 per share. This transaction amounted to 1.9% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Eric has been a buyer over the last 12 months, purchasing a net total of AU$249k worth in shares. Board Change • Feb 22
High number of new and inexperienced directors There are 4 new directors who have joined the board in the last 3 years. The company's board is composed of: 4 new directors. 1 experienced director. No highly experienced directors. CEO, MD & Director Eric Wang is the most experienced director on the board, commencing their role in 2015. The company’s lack of experienced directors is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Feb 21
First half 2023 earnings released: AU$0.052 loss per share (vs AU$0.02 loss in 1H 2022) First half 2023 results: AU$0.052 loss per share (further deteriorated from AU$0.02 loss in 1H 2022). Revenue: AU$16.5m (up 6.4% from 1H 2022). Net loss: AU$17.6m (loss widened 163% from 1H 2022). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 59 percentage points per year, which is a significant difference in performance. Duyuru • Feb 20
Jon Meadmore to Retire as A Non-Executive Director of Ecofibre Limited Ecofibre Limited announced that Jon Meadmore will retire as a non-executive director of the company as at the Half Year Results announcement on 20 February 2023. Meadmore has been on the Ecofibre Board since October 2017 and was the company's first non-executive director. Duyuru • Feb 16
Ecofibre Limited to Report First Half, 2023 Results on Feb 20, 2023 Ecofibre Limited announced that they will report first half, 2023 results on Feb 20, 2023 Reported Earnings • Sep 28
Full year 2022 earnings released: AU$0.044 loss per share (vs AU$0.022 loss in FY 2021) Full year 2022 results: AU$0.044 loss per share (further deteriorated from AU$0.022 loss in FY 2021). Revenue: AU$30.2m (up 5.0% from FY 2021). Net loss: AU$14.7m (loss widened 110% from FY 2021). Products in clinical trials Phase II: 4 Phase III: 1 Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 50 percentage points per year, which is a significant difference in performance. Reported Earnings • Aug 25
Full year 2022 earnings released: AU$0.044 loss per share (vs AU$0.022 loss in FY 2021) Full year 2022 results: AU$0.044 loss per share (down from AU$0.022 loss in FY 2021). Revenue: AU$30.2m (up 5.0% from FY 2021). Net loss: AU$14.7m (loss widened 110% from FY 2021). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 50 percentage points per year, which is a significant difference in performance. Board Change • Apr 02
High number of new and inexperienced directors There are 5 new directors who have joined the board in the last 3 years. The company's board is composed of: 5 new directors. 2 experienced directors. No highly experienced directors. CEO, MD & Director Eric Wang is the most experienced director on the board, commencing their role in 2015. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. Recent Insider Transactions • Mar 09
CEO, MD & Director recently bought AU$435k worth of stock On the 4th of March, Eric Wang bought around 1m shares on-market at roughly AU$0.43 per share. This was the largest purchase by an insider in the last 3 months. This was Eric's only on-market trade for the last 12 months. Board Change • Feb 02
High number of new and inexperienced directors There are 5 new directors who have joined the board in the last 3 years. The company's board is composed of: 5 new directors. 2 experienced directors. No highly experienced directors. CEO, MD & Director Eric Wang is the most experienced director on the board, commencing their role in 2015. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. Reported Earnings • Aug 05
Full year 2021 earnings released: AU$0.022 loss per share (vs AU$0.044 profit in FY 2020) The company reported a poor full year result with weaker earnings, revenues and control over costs. Full year 2021 results: Revenue: AU$28.8m (down 43% from FY 2020). Net loss: AU$6.99m (down 153% from profit in FY 2020). Is New 90 Day High Low • Mar 02
New 90-day low: AU$1.22 The company is down 33% from its price of AU$1.83 on 02 December 2020. The Australian market is up 4.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Pharmaceuticals industry, which is up 8.0% over the same period. Is New 90 Day High Low • Feb 20
New 90-day low: AU$1.57 The company is down 4.0% from its price of AU$1.64 on 20 November 2020. The Australian market is up 6.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Pharmaceuticals industry, which is up 30% over the same period. Recent Insider Transactions • Dec 18
CEO, MD & Director recently bought AU$745k worth of stock On the 11th of December, Eric Wang bought around 350k shares on-market at roughly AU$2.13 per share. This was the largest purchase by an insider in the last 3 months. This was Eric's only on-market trade for the last 12 months. Valuation Update With 7 Day Price Move • Dec 05
Market bids up stock over the past week After last week's 18% share price gain to AU$2.04, the stock is trading at a trailing P/E ratio of 46.9x, up from the previous P/E ratio of 39.6x. This compares to an average P/E of 46x in the Pharmaceuticals industry in Oceania. Total return to shareholders over the past year is a loss of 33%. Is New 90 Day High Low • Oct 21
New 90-day low: AU$1.82 The company is down 26% from its price of AU$2.46 on 22 July 2020. The Australian market is up 4.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Pharmaceuticals industry, which is down 5.0% over the same period. Valuation Update With 7 Day Price Move • Oct 21
Market pulls back on stock over the past week After last week's 29% share price decline to AU$1.82, the stock is trading at a trailing P/E ratio of 41.3x, down from the previous P/E ratio of 58.4x. This compares to an average P/E of 41x in the Pharmaceuticals industry in Oceania. Total return to shareholders over the past year is a loss of 44%.