HealthWarehouse.com Reports Results for Second Quarter 2024
HealthWarehouse.com (OTC:HEWA) reported Q2 2024 results with net sales of $5.8 million, a 9% increase from Q2 2023. The growth was driven by strong performance in partner services and B2C prescription revenue, particularly from GLP-1 weight loss medications. However, the company posted a net loss of $344,000 for Q2 and $596,000 for H1 2024. Prescription sales rose 12.8% to $5.1 million in Q2, while over-the-counter sales decreased 14.3% to $643,000. Gross profit declined due to lower margins, but operating expenses decreased by 10.1%. The company's Adjusted EBITDA broke even for Q2, improving from a $152,000 loss in Q2 2023.
HealthWarehouse.com (OTC:HEWA) ha annunciato i risultati del Q2 2024 con vendite nette di 5,8 milioni di dollari, un incremento del 9% rispetto al Q2 2023. La crescita è stata sostenuta da una forte performance nei servizi ai partner e nelle entrate da prescrizioni B2C, in particolare grazie ai farmaci per la perdita di peso GLP-1. Tuttavia, l'azienda ha registrato una perdita netta di 344.000 dollari per il Q2 e di 596.000 dollari per il primo semestre del 2024. Le vendite di prescrizioni sono aumentate del 12,8% raggiungendo 5,1 milioni di dollari nel Q2, mentre le vendite da banco sono diminuite del 14,3% a 643.000 dollari. Il profitto lordo è diminuito a causa di margini inferiori, ma le spese operative sono scese del 10,1%. L'Adjusted EBITDA dell'azienda ha raggiunto il pareggio per il Q2, migliorando da una perdita di 152.000 dollari nel Q2 2023.
HealthWarehouse.com (OTC:HEWA) reportó los resultados del Q2 2024 con ventas netas de 5.8 millones de dólares, un incremento del 9% en comparación con el Q2 2023. El crecimiento fue impulsado por un fuerte desempeño en servicios para socios y en ingresos de recetas B2C, especialmente por los medicamentos GLP-1 para la pérdida de peso. Sin embargo, la compañía reportó una pérdida neta de 344,000 dólares para el Q2 y 596,000 dólares para el primer semestre de 2024. Las ventas de prescripciones aumentaron un 12.8% alcanzando 5.1 millones de dólares en el Q2, mientras que las ventas de productos de venta libre disminuyeron un 14.3% a 643,000 dólares. El beneficio bruto disminuyó debido a márgenes más bajos, pero los gastos operativos se redujeron en un 10.1%. El EBITDA Ajustado de la compañía alcanzó el punto de equilibrio para el Q2, mejorando desde una pérdida de 152,000 dólares en el Q2 2023.
HealthWarehouse.com (OTC:HEWA)는 2024년 2분기 실적을 발표했으며, 순매출은 580만 달러로 2023년 2분기 대비 9% 증가했습니다. 이 성장은 파트너 서비스와 B2C 처방 수익의 강력한 성과 덕분이며, 특히 GLP-1 체중 감소 약물에서 두드러졌습니다. 그러나 회사는 2분기에 34만 4천 달러의 순손실과 2024년 상반기 동안 59만 6천 달러의 손실을 기록했습니다. 처방 판매는 2분기 동안 128% 증가하여 510만 달러에 도달했으며, 반면 일반의약품 판매는 14.3% 감소하여 64만 3천 달러를 기록했습니다. 총 이익은 마진 감소로 인해 감소했지만 운영 비용은 10.1% 줄어들었습니다. 회사의 조정 EBITDA는 2분기에 손실을 탈피했으며, 2023년 2분기에 비해 15만 2천 달러의 손실에서 개선된 결과입니다.
HealthWarehouse.com (OTC:HEWA) a annoncé les résultats du Q2 2024 avec des ventes nettes de 5,8 millions de dollars, un accroissement de 9% par rapport au Q2 2023. La croissance a été alimentée par de fortes performances dans les services aux partenaires et les revenus des prescriptions B2C, en particulier grâce aux médicaments GLP-1 pour la perte de poids. Cependant, l’entreprise a enregistré une perte nette de 344 000 dollars pour le Q2 et de 596 000 dollars pour le premier semestre 2024. Les ventes de prescriptions ont augmenté de 12,8% atteignant 5,1 millions de dollars au Q2, tandis que les ventes de médicaments en vente libre ont diminué de 14,3% pour atteindre 643 000 dollars. Le bénéfice brut a diminué en raison de marges plus faibles, mais les dépenses d’exploitation ont baissé de 10,1%. L'EBITDA ajusté de la société a atteint l'équilibre pour le Q2, s'améliorant par rapport à une perte de 152 000 dollars au Q2 2023.
HealthWarehouse.com (OTC:HEWA) berichtete über die Ergebnisse des Q2 2024 mit einem Nettoumsatz von 5,8 Millionen Dollar, was einem Zuwachs von 9% im Vergleich zum Q2 2023 entspricht. Das Wachstum wurde durch starke Leistungen in den Partnerdiensten und im B2C-Rezeptumsatz vorangetrieben, insbesondere durch GLP-1 Gewichtsverlustmedikamente. Das Unternehmen verzeichnete jedoch einen Nettoverlust von 344.000 Dollar für das Q2 und 596.000 Dollar für das erste Halbjahr 2024. Der Rezeptverkauf stieg um 12,8% auf 5,1 Millionen Dollar im Q2, während der Umsatz mit rezeptfreien Produkten um 14,3% auf 643.000 Dollar fiel. Der Bruttogewinn ging aufgrund niedrigerer Margen zurück, während die Betriebsausgaben um 10,1% sanken. Das bereinigte EBITDA des Unternehmens erreichte im Q2 den Break-even-Punkt und verbesserte sich im Vergleich zu einem Verlust von 152.000 Dollar im Q2 2023.
- 9% increase in Q2 2024 net sales to $5.8 million
- 12.8% growth in prescription sales to $5.1 million in Q2
- Strong demand for GLP-1 weight loss medications
- 10.1% reduction in operating expenses in Q2
- Improved Adjusted EBITDA from -$152,000 in Q2 2023 to breakeven in Q2 2024
- Net loss of $344,000 in Q2 2024
- 14.3% decrease in over-the-counter sales to $643,000 in Q2
- Gross profit decreased by $192,000 in Q2 due to lower margins
- Gross margin percentage declined by 7.9 percentage points in Q2
Reports
HealthWarehouse.com, a technology company with a focus on healthcare e-commerce, sells and delivers prescription and over-the-counter medications to all 50 states as an Approved Digital Pharmacy through the National Association of Boards of Pharmacy (NABP). HealthWarehouse.com provides a platform focused on increasing access to and reducing costs of healthcare products for consumers and business partners nationwide.
Joseph Peters, President and CEO, commented, “We reported strong revenue growth during the second quarter, benefiting from growth in sales of GLP-1 weight loss medications in both our partner services and direct-to-consumer (B2C) businesses. GLP-1s have proven effective for several weight-related health concerns. Nationwide, people are seeking out GLP-1s as an option not only for weight loss, but also for diabetes management and potential cardiovascular health benefits. We continue to expand our HealthWarehouse.com catalog, and the branded weight loss medications have been in great demand since we added them.”
HealthWarehouse.com continues to invest in proprietary technology to remain at the forefront of new developments and offerings in the world of healthcare, focusing on patient experience, operational efficiency, and scalability.
“We continue to add new customers in our partner services business, which will contribute to significant future revenue growth. Our incredible team has ensured that we have the infrastructure and processes in place to service whatever challenges our customers throw at us. We have added infrastructure and capacity to our cold chain operations, allowing us to better serve our injectable GLP-1 customers. We wouldn’t be able to accomplish this without the efforts of our dedicated employees, who continue to focus on providing world-class service to our customers,” added Peters.
Overview of Results for Three and Six Months Ended June 30, 2024
Net Sales: Total net sales for the three and six months ended June 30, 2024, were
Prescription sales were
Sales of over-the-counter products were
Gross Profit: Gross profit for the three and six months ended June 30, 2024, was
Operating Expenses: Selling, general and administrative expenses were
Net Income and Adjusted EBITDA: The Company reported net losses of
Earnings before interest, taxes, depreciation and amortization (“EBITDA”), as adjusted for stock-based compensation and certain non-recurring charges (“Adjusted EBITDA”), were breakeven for the three months and
| HEALTHWAREHOUSE.COM, INC. AND SUBSIDIARIES | |||||||||||||||
| CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) | |||||||||||||||
| For the Three Months Ended | For the Six Months Ended | ||||||||||||||
| June 30, | June 30, | ||||||||||||||
|
2024 |
|
|
2023 |
|
|
2024 |
|
|
2023 |
|
||||
| In thousands | |||||||||||||||
| Net sales | $ |
5,779 |
|
$ |
5,327 |
|
$ |
10,900 |
|
$ |
10,604 |
|
|||
| Cost of sales |
|
2,816 |
|
|
2,172 |
|
|
4,978 |
|
|
4,313 |
|
|||
| Gross profit |
|
2,963 |
|
|
3,155 |
|
|
5,922 |
|
|
6,291 |
|
|||
| Selling, general and administrative expenses |
|
3,232 |
|
|
3,594 |
|
|
6,369 |
|
|
7,034 |
|
|||
| Net income (loss) from operations |
|
(269 |
) |
|
(439 |
) |
|
(447 |
) |
|
(743 |
) |
|||
| Interest expense |
|
(75 |
) |
|
(38 |
) |
|
(149 |
) |
|
(82 |
) |
|||
|
- |
|
|
- |
|
|
- |
|
|
- |
|
||||
| Net loss |
|
(344 |
) |
|
(477 |
) |
|
(596 |
) |
|
(825 |
) |
|||
| Preferred stock: | |||||||||||||||
| Series B convertible contractual dividends |
|
(85 |
) |
|
(86 |
) |
|
(171 |
) |
|
(171 |
) |
|||
| Net loss attributable to common stockholders | $ |
(429 |
) |
$ |
(563 |
) |
$ |
(767 |
) |
$ |
(996 |
) |
|||
| Per share data: | |||||||||||||||
| Net loss - basic and diluted | $ |
(0.01 |
) |
$ |
(0.01 |
) |
$ |
(0.01 |
) |
$ |
(0.01 |
) |
|||
| Series B convertible contractual dividends | $ |
(0.00 |
) |
$ |
(0.00 |
) |
$ |
(0.00 |
) |
$ |
(0.00 |
) |
|||
Net loss attributable to common stockholders - basic and diluted |
$ |
(0.01 |
) |
$ |
(0.01 |
) |
$ |
(0.01 |
) |
$ |
(0.01 |
) |
|||
| Weighted average common shares outstanding - Basic and diluted |
|
55,077 |
|
|
54,316 |
|
|
54,957 |
|
|
54,229 |
|
|||
Use of Non-GAAP Financial Measures
HealthWarehouse.com, Inc. (the "Company") prepares its consolidated financial statements in accordance with
Adjusted EBITDA should not be considered as an alternative to net income, net loss or to net cash provided by or used in operating activities as a measure of operating results or of liquidity. It may not be comparable to similarly titled measures used by other companies, and it excludes financial information that some may consider important in evaluating the Company`s performance.
Reconciliation of Net Income (Loss) (GAAP) to Adjusted EBITDA (Non-GAAP)
| Three Months Ended | Six Months Ended | ||||||||||||||||
| June 30, | June 30, | ||||||||||||||||
| (Unaudited) |
|
2024 |
|
|
2023 |
|
|
2024 |
|
|
2023 |
|
|||||
| In thousands | |||||||||||||||||
| Net loss | $ |
(344 |
) |
$ |
(477 |
) |
$ |
(596 |
) |
$ |
(825 |
) |
|||||
| Interest expense |
|
75 |
|
|
38 |
|
|
150 |
|
|
82 |
|
|||||
| Depreciation and amortization |
|
81 |
|
|
52 |
|
|
161 |
|
|
95 |
|
|||||
| EBITDA (non-GAAP) |
|
(188 |
) |
|
(387 |
) |
|
(285 |
) |
|
(648 |
) |
|||||
| Adjustments to EBITDA: | |||||||||||||||||
| Stock-based compensation |
|
188 |
|
|
235 |
|
|
376 |
|
|
458 |
|
|||||
| Adjusted EBITDA | $ |
- |
|
$ |
(152 |
) |
$ |
91 |
|
$ |
(190 |
) |
|||||
About HealthWarehouse.com
HealthWarehouse.com, Inc. (OTCQB: HEWA), a technology company with a focus on healthcare e-commerce, sells and delivers prescription and over-the-counter medications to all 50 states as an Approved Digital Pharmacy through the National Association of Boards of Pharmacy (“NABP”). HealthWarehouse.com provides a platform focused on increasing access and reducing costs of healthcare products for consumers and business partners nationwide. Based in
Forward-Looking Statements
This announcement may contain “forward-looking statements” as defined in federal securities laws, including but not limited to Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and the Private Securities Litigation Reform Act of 1995, which statements are based on our current expectations, estimates, forecasts and projections. Statements that are not historical facts, including statements about the beliefs, expectations and future plans and strategies of the Company, are forward-looking statements. Actual results may differ materially from those expressed in forward looking statements or in management's expectations. Important factors which could cause or contribute to actual results being materially and adversely different from those described or implied by forward looking statements include, among others, risks related to competition, management of growth, access to sufficient capital to fund our business and our growth, new products, services and technologies, potential fluctuations in operating results, international expansion, outcomes of legal proceedings and claims, fulfillment center optimization, seasonality, commercial agreements, acquisitions and strategic transactions, foreign exchange rates, system interruption, cyber-attacks, access to sufficient inventory, government regulation and taxation and fraud. More information about factors that potentially could affect HealthWarehouse.com's financial results is included in HealthWarehouse.com's audited Annual Reports and Quarterly Reports available at otcmarkets.com and prior filings with the Securities and Exchange Commission.
View source version on businesswire.com: https://www.businesswire.com/news/home/20240812250463/en/
Dan Seliga, Chief Financial Officer, (800) 748-7001
Source: HealthWarehouse.com, Inc.
FAQ
What was HealthWarehouse.com's (HEWA) revenue growth in Q2 2024?
How did HEWA's prescription sales perform in Q2 2024?
What impact did GLP-1 medications have on HEWA's Q2 2024 results?
What was HEWA's net income/loss for Q2 2024?
