HYDREIGHT TECHNOLGIES INC - HYDTF STOCK NEWS

Hydreight has announced a partnership with a national laboratory to expand its at-home blood testing services covering a wide range of health concerns, available in all 50 states by Q4 2024. The expanded tests will include general wellness, nutrition, heart health, blood sugar, sexual health, thyroid, inflammation, chronic care management, and drug testing. Consumers can order tests online, have samples collected at home, and receive results through Hydreight's app within days. The U.S. diagnostic market is expected to grow significantly, from $84.85 billion in 2023 to $158.77 billion by 2033, driven by consumer demand for accessible and affordable home-testing solutions.

Hydreight Technologies provides a corporate update reflecting significant revenue growth and enhanced operational performance. The company, operating a mobile clinical network and medical platform across all 50 U.S. states, reported a 44% increase in Q1 2024 GAAP revenue to $3.38M and a 33% rise in topline revenue to $4.87M. Hydreight's gross margin improved to $1.23M from $1.04M in Q1 2023. The platform now supports over 3,000 medical professionals and has partnered with 700 medical spa locations, driving significant service and pharmacy order growth. Notably, the company has not raised additional capital since its 2022 RTO and continues to focus on profitability and expanding its service offerings through strategic partnerships and technology investments.

Hydreight Technologies, a mobile clinical network, announced it has added its third national wellness medspa franchise using its white label solution. This platform helps medspas provide medical services compliant with state healthcare regulations through an integrated turnkey solution.

Hydreight has partnerships with three national medspa franchises, representing nearly 700 locations sold and 140 opened across the U.S. The company charges licensing fees and takes a percentage of revenue from mobile services facilitated through its platform.

The newest partnership will use Hydreight’s technology to offer IV drip therapy, aesthetic services, and more. Hydreight is also developing a POS and payment processing solution expected to launch in Q3 2024.

The medical spa market was valued at $6.1 billion in 2023. Hydreight's platform integrates telemedicine, pharmacy connections, booking, scheduling, and patient engagement services, positioning it as a leading solution for medspas.

Hydreight Technologies, in partnership with VS Digital Health and DSV Global, has launched VSDHOne, a telemedicine solution to help businesses establish direct-to-consumer healthcare brands across all 50 states in the U.S. The platform simplifies online healthcare market entry and ensures compliance.

VSDHOne offers various services, including GLP-1 treatments, peptides, personalized healthcare, TRT, and more. Key features include eCommerce, telemedicine technology, booking and scheduling, membership management, a nationwide doctors network, pharmacy network, medical direction, legal framework, and payment processing. The official launch is set for June 2024, with a waitlist of potential clients already in place.

The platform aims to address healthcare accessibility issues, particularly in underserved areas. During the pandemic, retail chains were instrumental in vaccinations, and VSDHOne hopes to expand on this by providing convenient, affordable, and timely care through virtual means.

Hydreight Technologies, a mobile clinical network, announced record topline revenue of $4.87 million for Q1 2024, marking a 33% year-over-year increase. GAAP revenue surged by 44% to $3.38 million. The company's gross margin rose to $1.23 million, up from $1.04 million in Q1 2023. CEO Shane Madden highlighted their focus on growing revenue, profitability, and expanding their shareholder base. Hydreight operates 117 white-label locations across the U.S., with more opening monthly. Cash in hand stands at $1.34 million. The company also noted the launch of new products like Tirzepatide and Semaglutide and partnerships to expand healthcare services nationwide.

Hydreight Technologies has expanded its product offering by adding Tirzepatide, a dual GIP and GLP-1 receptor agonist, to its platform. Tirzepatide, used for treating type 2 diabetes and weight loss, joins their lineup which includes GLP-1 medications such as Semaglutide and NAD+. The addition gives over 3,000 nurses and 107 white-label locations access to the drug across 700 cities in 50 states in the U.S. This move comes amid significant growth in demand for Semaglutide, which saw a 250% increase in orders from January to February 2024. CEO Shane Madden emphasizes the importance of expanding product offerings to improve healthcare outcomes and shift towards essential care. The company also announced a marketing agreement with Fairfax Partners for social media support.

HYTN Innovations Inc. (HYTN) welcomes the U.S. recommendation to reclassify cannabis from a Schedule I to a Schedule III controlled substance, viewing it as a positive step towards harmonizing federal regulations with global trends. The reclassification is expected to facilitate research, reduce operational complexities, alleviate tax burdens, and enhance the economic environment for cannabis businesses. HYTN sees this as a growth opportunity that could impact the global approach to cannabis regulation and integration into mainstream healthcare and consumer markets.

Hydreight Technologies Inc. achieved record revenue in fiscal year 2023, with adjusted revenue of $17.05 million, a 102% increase from 2022, and GAAP revenue of $11.51 million, up 170% from the previous year. The company expanded services to over 700 cities across 50 states in the US and added Semaglutide to its product offerings. Hydreight also grew its nurse network, white-label locations, and strategic partnerships, aiming for profitability in 2024. The Company's audited financial statements show consistent revenue growth and strategic priorities focused on scaling the business efficiently.

HYTN Innovations Inc. announces significant advancements in its Good Manufacturing Practice (GMP) stability programs, setting industry benchmarks in the development, formulation, and manufacturing of products containing psychoactive and psychotropic compounds, including cannabis. The company expands its stability program to include cannabis products in jars and bags, as well as psilocybin-containing mushrooms, showcasing a commitment to product excellence, consumer safety, and innovation. With data support for shelf lives of six months for bagged cannabis products and one year for jarred products, HYTN aims to lead in GMP processing of psilocybin and other derivatives from mushrooms.