ECS Botanics Holdings (ASX:ECS) reported revenue of AU$4.9 million in the fiscal second quarter ended Dec. 31, 2024, down 33% on the year-ago period, according to a Tuesday filing with the Australian bourse.
The medicinal cannabis company attributed the decline to customers' shift from medicinal cannabis oils to other dosage forms and the delayed effect of its strategic transition to the business-to-consumer model, which it is implementing in response to changing preferences.
ECS Botanics logged cash receipts of AU$4.7 million, down 28% year on year, the filing said.
It expects to generate positive cash flow within the next six months as a result of its transition to the B2C model.
ECS Botanics' shares rose 3% in recent trade.
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