Healthy Extracts Reports Preliminary Q2 2022 Results

Rhea-AI Summary

Healthy Extracts (OTCQB: HYEX) announced preliminary unaudited results for Q2 2022, projecting net revenue of approximately $473,000, a 94% increase year-over-year. For the first half of the year, revenue is anticipated at $936,000, up 126% from H1 2021. The growth is attributed to the expansion of sales channels and the launch of new products, including exclusive health formulations. The company also entered the retail marketplace, launching brain health products in over 160 Natural Grocers stores nationwide. Full financial results will be reported in August.

Positive

• Net revenue for Q2 2022 projected at $473,000, up 94% YoY.
• First half revenue expected to reach $936,000, increasing 126% YoY.
• Launch of new products contributing to sales growth.
• Expansion into retail with brain health products in 160+ Natural Grocers stores.

Negative

• None.

LAS VEGAS, July 13, 2022 (GLOBE NEWSWIRE) -- Healthy Extracts’ (OTCQB: HYEX) reported record preliminary unaudited results for the second quarter ended June 30, 2022.

Net revenue for the second quarter is expected to total approximately $473,000, up 94% over the same year-ago quarter.

Revenue for the first half of the year is expected to total approximately $936,000, increasing 126% over the first half of 2021.

"Our record top-line for a second quarter and significant sequential growth resulted primarily from the continued expansion of our multiple sales channels that have been meeting growing customer demand,” stated Duke Pitts, president of Healthy Extracts. “This included the launch of our new line of exclusive Whitney Johns natural health and fitness formulations on whitneyjohns.com and the new Amazon Whitney Johns Store.”

Also, during the quarter, the company expanded its online retail channel with its full line of Bergamet heart health formulations launching on Walmart.com. The exclusive natural ingredients of this line are backed by multiple clinical trials that prove their effectiveness for healthy cholesterol and heart support.

Near the end of the second quarter, the company entered the retail marketplace with the launch its brain health products in more than 160 Natural Grocers^® Stores nationwide that are operated by NYSE-traded Vitamin Cottage Natural Food Markets.

“Looking at the second half of this year, we expect these expanding distribution channels to further elevate consumer awareness of our brands and drive continued strong sales growth.”

The preliminary unaudited results are estimates only and are subject to revision until the company reports its financial results for the second quarter ended June 30, 2022, which it expects to report in August.

About Healthy Extracts “Live Life Young Again”
Healthy Extracts Inc. is a platform for developing or acquiring science-forward, clinically proven, plant-based proprietary products in select high-growth categories within the multibillion-dollar nutraceuticals market.

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 containing Citrus Bergamot SuperFruit™. This superfruit is known to have the highest quality and concentration of polyphenols and flavonoids, and with healthy heart benefits backed by more than 17 clinical studies.

UBN KETONOMICS^® proprietary formulations have been clinically shown to support brain health, including memory, cognition, focus and neuro-energy. UBN is pursuing intellectual property license opportunities for monetizing its IP portfolio of multiple issued and pending patents.

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, 2022, 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 and 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.™

Healthy Extracts Company Contact
Duke Pitts, President
Healthy Extracts Inc.
Tel (720) 463-1004
Email contact

Investor & Media Contact
Ronald Both or Justin Lumley
CMA Investor & Media Relations
Tel (949) 432-7566
Email contact

Media Contact:
Tim Randall
CMA
Tel (949) 432-7572
Email Contact

FAQ

What were Healthy Extracts' Q2 2022 revenue projections?

Healthy Extracts projected a net revenue of approximately $473,000 for Q2 2022, a 94% increase from the previous year.

How much revenue did Healthy Extracts generate in the first half of 2022?

The company expects to generate approximately $936,000 in revenue for the first half of 2022, reflecting a 126% increase over H1 2021.

What new products were launched by Healthy Extracts recently?

Healthy Extracts launched a new line of exclusive Whitney Johns natural health formulations and expanded its product range into retail with brain health products.

How many stores now carry Healthy Extracts' brain health products?

Healthy Extracts' brain health products are now available in over 160 Natural Grocers stores nationwide.

When will Healthy Extracts report its Q2 financial results?

Healthy Extracts expects to report its financial results for Q2 2022 in August.