Healthy Extracts Reports Preliminary Q4 2023 Results
Q4 2023 Net Revenue up 15%, with Strong Subscription-Based Revenue Growth; Outlook for Continued Strong Overall Revenue Growth in Q1 2024
LAS VEGAS, NV / ACCESSWIRE / March 13, 2024 / Healthy Extracts Inc. (OTCQB:HYEX), a platform for acquiring, developing, patenting, marketing, and distributing plant-based nutraceuticals that target select high-growth categories within the multibillion-dollar nutraceuticals market, reported preliminary unaudited results for the fourth quarter and full year ended December 31, 2023.
Net revenue for the fourth quarter of 2023 is expected to total approximately $669,000, up 9% from the third quarter of 2023 and up more than 15% over the same year-ago quarter.
Gross margin for the quarter is expected to exceed 70%, driving positive operating cash flow after excluding stock-based compensation expense (options and warrants) and interest expense.
Revenue for the full year is expected to total a record of approximately $2.5 million, up 10%.
During the fourth quarter, the company launched LONGEVITY Anti-AgingTM, a new proprietary formulation designed to support skin vitality, arterial flexibility, cellular and joint health. LONGEVITY Anti-Aging complements the company's growing heart health product portfolio which supports a holistic approach to anti-aging like healthy skin.
Management Commentary
"We ended with a strong quarter and a record year," commented Healthy Extracts president, Duke Pitts. "We continued to grow our top line at a healthy double-digit pace year-over-year, as our product offerings, customer subscriptions, and distribution channels continued to expand.
"These results also drove another quarter of gross margin that is expected to exceed 70%, with this largely due to the improved manufacturing efficiencies and lower freight costs that we implemented earlier in the year. Altogether, these factors contributed to positive operational cash flow after excluding stock-based compensation and interest expense for the quarter.
"We continue to advance toward the listing of our stock on a major U.S. stock exchange, which we expect to elevate our visibility and broaden awareness of our success in the financial community. We also expect such a listing to provide our shareholders with greater liquidity and enhance shareholder value.
"Looking ahead, this year we plan to launch a number of new products that will benefit from our multiple sales and distribution channels and our broadening customer base. We will continue to pursue growth both organically and through strategic acquisitions, and particularly acquisitions that would benefit from our broad distribution channels. In all, we anticipate another strong year ahead for Healthy Extracts."
Q1 2024 Revenue Outlook
For the first quarter of 2024, the company anticipates net revenue of approximately $675,000 to $725,000, which would represent 10% to 18% growth over the first quarter of last year.
2024 Product Outlook
Healthy Extracts' top brand ambassador and renowned fitness expert, Whitney Johns, is preparing to launch WHITNEY JOHNSTM NUTRITION on-the-go gel packs for GUT HEALTH and COLLAGEN (anti-aging) in mid-2024. These products will be based on Healthy Extracts' exclusive oral delivery system and proprietary formulations.
The company is also planning to launch in the second quarter its new BergaMet MYNUS sugar blocker, which is specially formulated to reduce up to 42% of the sugar impact from meals. The MYNUS on-the-go gel-packs will be made available under the company's exclusive U.S. and Canadian licensing and manufacturing agreement with Gelteq.
These preliminary unaudited results are estimates only and are subject to revision until the company reports its financial results for the fourth quarter and full year ended December 31, 2023, which it expects to report in March.
About Healthy Extracts "Live Life Young Again"
Healthy Extracts Inc. is a platform for acquiring, developing, researching, patenting, marketing, and distributing plant-based nutraceuticals.
The company's subsidiaries, BergametNATM and Ultimate Brain NutrientsTM (UBN), offer nutraceutical natural heart and brain health supplements. This includes the only heart health supplement distributed in North America containing Citrus Bergamot SuperFruitTM. This superfruit has the highest known concentration of polyphenols and flavonoids.
UBN's KETONOMICS® proprietary formulations, which have been designed to enhance brain activity, focus, headache and cognitive behavior, provide many sales and intellectual property licensing opportunities.
For more information visit: healthyextractsinc.com, bergametna.com or tryubn.com.
Forward-Looking Statements and Safe Harbor Notice
All statements other than statements of historical facts included in this press release are "forward-looking statements" (as defined in the Private Securities Litigation Reform Act of 1995). Such forward-looking statements include our expectations and those statements that use forward-looking words such as "projected," "expect," "possibility" and "anticipate." The achievement or success of the matters covered by such forward-looking statements involve significant risks, uncertainties and assumptions. Actual results could differ materially from current projections or implied results. Investors should read the risk factors set forth in the Company's Annual Report on Form 10-K filed with the SEC on March 31, 2023, and future periodic reports filed with the SEC. All of the Company's forward-looking statements are expressly qualified by all such risk factors and other cautionary statements. The Company cautions that statements and assumptions made in this news release constitute forward-looking statements and make no guarantee of future performance. Forward-looking statements are based on estimates and opinions of management at the time statements are made. The information set forth herein speaks only as of the date hereof. The Company and its management undertake no obligation to revise these statements following the date of this news release.
Food & Drug Administration Disclosure
The product and formulation featured in this release is not for use by or sale to persons under the age of 12. This product should be used only as directed on the label. Consult with a physician before use if you have a serious medical condition or use prescription medications. A doctor's advice should be sought before using this and any supplemental dietary product. These statements have not been evaluated by the FDA. This product is not intended to diagnose, treat, cure or prevent any disease.
BergametNATM, Ultimate Brain NutrientsTM, UBNTM, Citrus Bergamot SuperFruitTM and F4T® are registered trademarks of Healthy Extracts Inc.TM
Company Contact
Duke Pitts, President
Healthy Extracts Inc.
Tel (720) 463-1004
Email contact
Investor Contact
Ronald Both
CMA Investor Relations
Tel (949) 432-7566
Email contact
Media Contact:
Tim Randall
CMA Media Relations
Tel (949) 432-7572
Email Contact
SOURCE: Healthy Extracts Inc.
View the original press release on accesswire.com
