Healthy Extracts Expects to Report Record Third Quarter 2024, with Net Revenue Up More than 20%

Rhea-AI Summary

Healthy Extracts Inc. (OTCQB:HYEX) anticipates record third quarter 2024 results, with net revenue expected to exceed $740,000, up over 20% year-over-year. The company projects a gross margin exceeding 80%, driving positive operating cash flow and net profitability. Healthy Extracts achieved record sales on Amazon in July, ranking as a top three seller of Citrus Bergamot among more than 100 competitors. The company replaced its traditional buy-2-get-1 offers with a 20% discount for monthly subscription shipments, aiming to increase sales, margins, and customer lifetime value. Healthy Extracts anticipates continued growth in top-line revenue, profitability, and market share expansion, driven by planned new product launches in Q4 2024.

Positive

• Record Q3 2024 net revenue expected to exceed $740,000, up over 20% year-over-year
• Gross margin projected to exceed 80%, driving positive operating cash flow and net profitability
• Ranked as top three seller of Citrus Bergamot on Amazon among more than 100 competitors
• Introduced 20% discount for monthly subscription shipments, potentially increasing sales and customer retention
• Anticipates strengthening performance in top-line growth, profitability, and market share expansion

Negative

• None.

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 contactStrong Growth in Subscription-Based Recurring Revenue Continues for Healthy Extracts as Category Top Three Amazon Seller

LAS VEGAS, NV / ACCESSWIRE / October 17, 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 record results for the third quarter ended September 30, 2024.

Net revenue is expected to exceed $740,000, a record for a third quarter, up more than 20% compared to the same year-ago quarter.

Gross margin for the quarter is expected to exceed 80%, driving positive operating cash flow and net profitability.

"In Q3, we achieved another quarter of record-breaking revenue, continued margin improvements, and further debt reduction, with this driven by robust performance in our direct-to-consumer channels," stated Healthy Extracts president, Duke Pitts. "This consistent growth momentum with our key retail customers positions us for the successful launch of new products we are planning to introduce in the current quarter."

The company generated record sales on Amazon in July, primarily as a result of its focused sales and marketing efforts for Prime Day and increased demand for its "Subscribe & Save" offers. During the quarter, the company continued to rank as a top three seller of Citrus Bergamot on Amazon among more than 100 competitors.

The company's products feature the only heart health supplement distributed in North America containing Citrus Bergamot SuperFruit™, which has the highest known concentration of polyphenols and flavonoids.

Given the success with Amazon's "Subscribe and Save," in July Healthy Extracts replaced its traditional buy-2-get-1 offers on its eCommerce website with a 20% discount for subscribing to monthly shipments.

"We expect this move to increase sales and margins, as well as the lifetime value of our customers due to improved customer retention," noted Pitts. "In fact, the new offer has been well received, generating a significant increase in overall subscriber growth during the first several weeks."

Looking ahead, the company anticipates strengthening performance in top-line growth, profitability, and market share expansion as its addressable markets continue to grow. This positive outlook is largely due to the anticipated launch of new products that will benefit from the broad market channels the company has strategically developed and invested in over the past several years.

According to Pitts, "These investments have proven to be the most effective way to create significant shareholder value-and this will continue to be our top priority."

The preliminary unaudited results presented in this press release are estimates only and are subject to revision until the company officially reports its quarterly results in mid-November.

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, BergametNA™ and Ultimate Brain Nutrients™ (UBN), offer nutraceutical natural heart and brain health supplements. This includes the only heart health supplement distributed in North America containing Citrus Bergamot SuperFruit™. 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 April 1, 2024, 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.

BergametNA™, Ultimate Brain Nutrients™, UBN™, Citrus Bergamot SuperFruit™ and F4T® are registered trademarks of Healthy Extracts Inc.™

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

SOURCE: HEALTHY EXTRACTS INC.

View the original press release on accesswire.com

FAQ

What is Healthy Extracts' (HYEX) expected revenue for Q3 2024?

Healthy Extracts (HYEX) expects to report record net revenue exceeding $740,000 for the third quarter of 2024, representing an increase of more than 20% compared to the same quarter in the previous year.

What is the projected gross margin for Healthy Extracts (HYEX) in Q3 2024?

Healthy Extracts (HYEX) projects a gross margin exceeding 80% for the third quarter of 2024, which is expected to drive positive operating cash flow and net profitability.

How did Healthy Extracts (HYEX) perform on Amazon during Q3 2024?

Healthy Extracts (HYEX) achieved record sales on Amazon in July 2024, primarily due to focused sales and marketing efforts for Prime Day. The company continued to rank as a top three seller of Citrus Bergamot on Amazon among more than 100 competitors.

What new subscription offer did Healthy Extracts (HYEX) introduce in Q3 2024?

In July 2024, Healthy Extracts (HYEX) replaced its traditional buy-2-get-1 offers on its eCommerce website with a 20% discount for customers subscribing to monthly shipments, aiming to increase sales, margins, and customer lifetime value.