HealthWarehouse.com Reports Results for Third Quarter 2024
HealthWarehouse.com (OTC:HEWA) reported record Q3 2024 results with net sales of $9.0 million, an 89% increase from Q3 2023. The company achieved net income of $74,000 and Adjusted EBITDA of $405,000. Prescription sales grew 96.3% to $8.3 million, driven by strong growth in GLP-1 weight loss medications. Gross profit increased to $3.8 million, though margins decreased to 42% due to price competition. The company also secured extension of convertible note maturity to 2026, strengthening its capital position.
HealthWarehouse.com (OTC:HEWA) ha riportato risultati record per il terzo trimestre del 2024, con vendite nette di 9,0 milioni di dollari, un aumento dell'89% rispetto al terzo trimestre del 2023. L'azienda ha registrato un reddito netto di 74.000 dollari e un EBITDA rettificato di 405.000 dollari. Le vendite di prescrizioni sono aumentate del 96,3%, raggiungendo gli 8,3 milioni di dollari, trainate da una forte crescita dei farmaci per la perdita di peso GLP-1. Il profitto lordo è aumentato a 3,8 milioni di dollari, sebbene i margini siano diminuiti al 42% a causa della concorrenza sui prezzi. L'azienda ha anche ottenuto l'estensione della scadenza delle note convertibili fino al 2026, rafforzando la propria posizione patrimoniale.
HealthWarehouse.com (OTC:HEWA) reportó resultados récord en el tercer trimestre de 2024, con ventas netas de $9.0 millones, un aumento del 89% en comparación con el tercer trimestre de 2023. La compañía logró un ingreso neto de 74,000 dólares y un EBITDA ajustado de 405,000 dólares. Las ventas de recetas crecieron un 96.3% alcanzando 8.3 millones de dólares, impulsadas por un fuerte crecimiento en los medicamentos para la pérdida de peso GLP-1. El beneficio bruto aumentó a 3.8 millones de dólares, aunque los márgenes disminuyeron al 42% debido a la competencia de precios. La empresa también obtuvo una extensión del vencimiento de la nota convertible hasta 2026, fortaleciendo su posición de capital.
HealthWarehouse.com (OTC:HEWA)는 2024년 3분기 기록적인 실적을 보고하며 순매출 900만 달러를 달성하였으며, 이는 2023년 3분기 대비 89% 증가한 수치입니다. 회사는 74,000달러의 순이익과 405,000달러의 조정 EBITDA를 기록했습니다. 처방약 매출은 96.3% 증가하여 830만 달러에 달하였으며, 이는 GLP-1 체중 감소 약물의 강력한 성장에 의해 촉발되었습니다. 총 이익은 380만 달러로 증가했으나, 가격 경쟁으로 인해 마진은 42%로 감소했습니다. 회사는 또한 전환사채 만기를 2026년으로 연장하여 자본 입지를 강화했습니다.
HealthWarehouse.com (OTC:HEWA) a annoncé des résultats records pour le troisième trimestre 2024 avec des ventes nettes de 9,0 millions de dollars, ce qui représente une augmentation de 89 % par rapport au troisième trimestre 2023. L'entreprise a atteint un revenu net de 74 000 dollars et un EBITDA ajusté de 405 000 dollars. Les ventes sous prescription ont augmenté de 96,3 % pour atteindre 8,3 millions de dollars, grâce à une forte croissance des médicaments GLP-1 pour la perte de poids. Le bénéfice brut a augmenté à 3,8 millions de dollars, bien que les marges aient diminué à 42 % en raison de la concurrence sur les prix. L'entreprise a également sécurisé l'extension de l'échéance des billets convertibles jusqu'en 2026, renforçant ainsi sa position de capital.
HealthWarehouse.com (OTC:HEWA) berichtete über Rekordzahlen im 3. Quartal 2024 mit Nettoverkaufszahlen von 9,0 Millionen Dollar, was einem Anstieg von 89% im Vergleich zum 3. Quartal 2023 entspricht. Das Unternehmen erzielte einen Nettogewinn von 74.000 Dollar und ein bereinigtes EBITDA von 405.000 Dollar. Die Rezeptverkäufe stiegen um 96,3% auf 8,3 Millionen Dollar, angetrieben durch starkes Wachstum bei GLP-1-Abnehmmitteln. Der Bruttogewinn erhöhte sich auf 3,8 Millionen Dollar, obwohl die Margen aufgrund des Preisdrucks auf 42% sanken. Das Unternehmen sicherte sich ebenfalls eine Verlängerung der Fälligkeit der wandelbaren Anleihen bis 2026, wodurch die Kapitalposition gestärkt wurde.
- Record Q3 net sales of $9.0 million, up 89% year-over-year
- Prescription sales increased 96.3% to $8.3 million
- Achieved positive net income of $74,000 vs loss in prior year
- Adjusted EBITDA improved to $405,000 from $53,000 in Q3 2023
- Successfully extended convertible note maturity to 2026
- Gross margins declined significantly to 42% from 61.5% year-over-year
- Operating expenses increased 14.2% in Q3
- YTD net loss of $522,000
- Over-the-counter sales decreased 12.2% year-to-date
Company Hits Record High Revenues and Cash Flow; Extends Convertible Note Maturity Date to 2026
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, “I’m proud to announce that we had a record quarter of sales and cash flow, benefiting from growth in sales of our expanded catalog of GLP-1 weight loss medications in both our partner services and direct-to-consumer (B2C) businesses. The investment in our technology platform over the past few years enabled us to efficiently scale to take advantage of the rise in demand for these products as evidenced by reduced salary expense and little to no impact on order processing times during the quarter.”
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.
“I am also happy to announce that the investors in our convertible notes recommitted their financial support of the Company to April 2026, strengthening our capital position while we continue to take advantage of growth opportunities. Our pipeline of new customers in our partner services business remains strong, which will contribute to significant future revenue growth. Along with our investors, we appreciate the continued dedication of our employees to push our Company to new milestones while providing world-class service to our customers,” added Peters.
Overview of Results for Three and Nine Months Ended September 30, 2024
Net Sales: Total net sales for the three and nine months ended September 30, 2024, were
Prescription sales were
Sales of over-the-counter products were
Gross Profit: Gross profit for the three and nine months ended September 30, 2024, was
Operating Expenses: Selling, general and administrative expenses were
Net Income and Adjusted EBITDA: The Company reported net income of
Earnings before interest, taxes, depreciation and amortization (“EBITDA”), as adjusted for stock-based compensation and certain non-recurring charges (“Adjusted EBITDA”), increased to
| HEALTHWAREHOUSE.COM, INC. AND SUBSIDIARIES | ||||||||||||||||
| CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) | ||||||||||||||||
For the Three Months Ended |
|
For the Nine Months Ended |
||||||||||||||
September 30, |
|
September 30, |
||||||||||||||
|
2024 |
|
|
|
2023 |
|
|
|
2024 |
|
|
|
2023 |
|
||
| In thousands | ||||||||||||||||
| Net sales | $ |
9,011 |
|
$ |
4,768 |
|
$ |
19,912 |
|
$ |
15,372 |
|
||||
| Cost of sales |
|
5,226 |
|
|
1,836 |
|
|
10,205 |
|
|
6,149 |
|
||||
| Gross profit |
|
3,785 |
|
|
2,932 |
|
|
9,707 |
|
|
9,223 |
|
||||
| Selling, general and administrative expenses |
|
3,647 |
|
|
3,194 |
|
|
10,015 |
|
|
10,228 |
|
||||
| Net income (loss) from operations |
|
138 |
|
|
(262 |
) |
|
(308 |
) |
|
(1,005 |
) |
||||
| Other expense: | ||||||||||||||||
| Loss on extinguishment of debt |
|
(3 |
) |
|
- |
|
|
(3 |
) |
|
- |
|
||||
| Interest expense |
|
(61 |
) |
|
(37 |
) |
|
(211 |
) |
|
(119 |
) |
||||
| Total other expense |
|
(64 |
) |
|
(37 |
) |
|
(214 |
) |
|
(119 |
) |
||||
| Net income (loss) |
|
74 |
|
|
(299 |
) |
|
(522 |
) |
|
(1,124 |
) |
||||
| Preferred stock: | ||||||||||||||||
| Series B convertible contractual dividends |
|
(86 |
) |
|
(86 |
) |
|
(257 |
) |
|
(257 |
) |
||||
| Net loss attributable to common stockholders | $ |
(12 |
) |
$ |
(385 |
) |
$ |
(779 |
) |
$ |
(1,381 |
) |
||||
| Per share data: | ||||||||||||||||
| Net loss - basic and diluted | $ |
0.00 |
|
$ |
(0.01 |
) |
$ |
(0.01 |
) |
$ |
(0.02 |
) |
||||
| Series B convertible contractual dividends | $ |
(0.00 |
) |
$ |
(0.00 |
) |
$ |
(0.00 |
) |
$ |
(0.00 |
) |
||||
| Net loss attributable to common stockholders - basic and diluted | $ |
(0.00 |
) |
$ |
(0.01 |
) |
$ |
(0.01 |
) |
$ |
(0.02 |
) |
||||
| Weighted average common shares outstanding - basic and diluted |
|
55,251 |
|
|
54,462 |
|
|
55,056 |
|
|
54,307 |
|
||||
Use of Non-GAAP Financial Measures
HealthWarehouse.com, Inc. (the "Company") prepares its consolidated financial statements in accordance with
In addition to adjusting net income or net loss to exclude interest, taxes, depreciation and amortization (“EBITDA”), Adjusted EBITDA also excludes stock-based compensation, and certain nonrecurring charges. EBITDA and Adjusted EBITDA are not measures of performance defined in accordance with GAAP. However, Adjusted EBITDA is used internally in planning and evaluating the Company`s performance. Accordingly, management believes that disclosure of this metric offers lenders and other shareholders an additional view of the Company`s operations that, when coupled with GAAP results, provides a more complete understanding of the Company’s financial results.
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 |
|
Nine Months Ended |
|||||||||||||
September 30, |
|
September 30, |
|||||||||||||
| (Unaudited) | 2024 |
|
|
2023 |
|
|
|
2024 |
|
|
|
2023 |
|
||
| In thousands | |||||||||||||||
| Net loss | $ |
74 |
$ |
(299 |
) |
$ |
(522 |
) |
$ |
(1,124 |
) |
||||
| Interest expense |
|
61 |
|
37 |
|
|
211 |
|
|
119 |
|
||||
| Depreciation and amortization |
|
81 |
|
80 |
|
|
242 |
|
|
175 |
|
||||
| EBITDA (non-GAAP) |
|
216 |
|
(182 |
) |
|
(69 |
) |
|
(830 |
) |
||||
| Adjustments to EBITDA: | |||||||||||||||
| Stock-based compensation |
|
186 |
|
235 |
|
|
562 |
|
|
694 |
|
||||
| Loss on extinguishment of debt |
|
3 |
|
- |
|
|
3 |
|
|
- |
|
||||
| Adjusted EBITDA | $ |
405 |
$ |
53 |
|
$ |
496 |
|
$ |
(136 |
) |
||||
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 customers in 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 that 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/20241112461331/en/
Dan Seliga, Chief Financial Officer, (800) 748-7001
Source: HealthWarehouse.com, Inc.
FAQ
What was HealthWarehouse.com (HEWA) revenue in Q3 2024?
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What was HEWA's gross margin in Q3 2024?
When did HEWA extend its convertible note maturity?
