Healthy Extracts Reports Preliminary Q4 2023 Results

Rhea-AI Summary

Healthy Extracts Inc. (HYEX) reports a 15% increase in Q4 2023 net revenue, with strong subscription-based revenue growth. The company expects a record full-year revenue of $2.5 million, up 10%. Gross margin is projected to exceed 70%, driving positive operating cash flow. Management anticipates continued revenue growth, plans for new product launches, and aims to list on a major U.S. stock exchange for enhanced visibility and shareholder value.

Positive

• Q4 2023 net revenue up 15% compared to the same quarter last year
• Full-year revenue expected to reach approximately $2.5 million, a 10% increase
• Gross margin projected to exceed 70%, leading to positive operating cash flow
• Launch of new product LONGEVITY Anti-AgingTM in Q4 2023 to support skin vitality and joint health
• Plans for listing on a major U.S. stock exchange to increase visibility and shareholder value
• Anticipated Q1 2024 revenue of $675,000 to $725,000, representing 10% to 18% growth over the previous year
• Upcoming product launches include WHITNEY JOHNSTM NUTRITION gel packs for gut health and collagen, and BergaMet MYNUS sugar blocker

Negative

• None.

Q4 2023 Net Revenue up 15%, with Strong Subscription-Based Revenue Growth; Outlook for Continued Strong Overall Revenue Growth in Q1 2024

LAS VEGAS, NV / ACCESSWIRE / March 13, 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 unaudited results for the fourth quarter and full year ended December 31, 2023.

Net revenue for the fourth quarter of 2023 is expected to total approximately $669,000, up 9% from the third quarter of 2023 and up more than 15% over the same year-ago quarter.

Gross margin for the quarter is expected to exceed 70%, driving positive operating cash flow after excluding stock-based compensation expense (options and warrants) and interest expense.

Revenue for the full year is expected to total a record of approximately $2.5 million, up 10%.

During the fourth quarter, the company launched LONGEVITY Anti-Aging^TM, a new proprietary formulation designed to support skin vitality, arterial flexibility, cellular and joint health. LONGEVITY Anti-Aging complements the company's growing heart health product portfolio which supports a holistic approach to anti-aging like healthy skin.

Management Commentary
"We ended with a strong quarter and a record year," commented Healthy Extracts president, Duke Pitts. "We continued to grow our top line at a healthy double-digit pace year-over-year, as our product offerings, customer subscriptions, and distribution channels continued to expand.

"These results also drove another quarter of gross margin that is expected to exceed 70%, with this largely due to the improved manufacturing efficiencies and lower freight costs that we implemented earlier in the year. Altogether, these factors contributed to positive operational cash flow after excluding stock-based compensation and interest expense for the quarter.

"We continue to advance toward the listing of our stock on a major U.S. stock exchange, which we expect to elevate our visibility and broaden awareness of our success in the financial community. We also expect such a listing to provide our shareholders with greater liquidity and enhance shareholder value.

"Looking ahead, this year we plan to launch a number of new products that will benefit from our multiple sales and distribution channels and our broadening customer base. We will continue to pursue growth both organically and through strategic acquisitions, and particularly acquisitions that would benefit from our broad distribution channels. In all, we anticipate another strong year ahead for Healthy Extracts."

Q1 2024 Revenue Outlook

For the first quarter of 2024, the company anticipates net revenue of approximately $675,000 to $725,000, which would represent 10% to 18% growth over the first quarter of last year.

2024 Product Outlook

Healthy Extracts' top brand ambassador and renowned fitness expert, Whitney Johns, is preparing to launch WHITNEY JOHNS^TM NUTRITION on-the-go gel packs for GUT HEALTH and COLLAGEN (anti-aging) in mid-2024. These products will be based on Healthy Extracts' exclusive oral delivery system and proprietary formulations.

The company is also planning to launch in the second quarter its new BergaMet MYNUS sugar blocker, which is specially formulated to reduce up to 42% of the sugar impact from meals. The MYNUS on-the-go gel-packs will be made available under the company's exclusive U.S. and Canadian licensing and manufacturing agreement with Gelteq.

These preliminary unaudited results are estimates only and are subject to revision until the company reports its financial results for the fourth quarter and full year ended December 31, 2023, which it expects to report in March.

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^TM and Ultimate Brain Nutrients^TM (UBN), offer nutraceutical natural heart and brain health supplements. This includes the only heart health supplement distributed in North America containing Citrus Bergamot SuperFruit^TM. 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 March 31, 2023, 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^TM, Ultimate Brain Nutrients^TM, UBN^TM, Citrus Bergamot SuperFruit^TM and F4T® are registered trademarks of Healthy Extracts Inc.^TM

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

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

SOURCE: Healthy Extracts Inc.

View the original press release on accesswire.com

FAQ

What was the percentage increase in net revenue for Healthy Extracts Inc. in Q4 2023?

Healthy Extracts Inc. reported a 15% increase in net revenue for Q4 2023.

What is the expected full-year revenue for Healthy Extracts Inc. in 2023?

Healthy Extracts Inc. expects a record full-year revenue of approximately $2.5 million in 2023.

What is the gross margin projection for Healthy Extracts Inc. in Q4 2023?

Healthy Extracts Inc. projects a gross margin exceeding 70% in Q4 2023.

What new product did Healthy Extracts Inc. launch in Q4 2023?

Healthy Extracts Inc. launched LONGEVITY Anti-AgingTM in Q4 2023.

What are Healthy Extracts Inc.'s plans regarding listing on a major U.S. stock exchange?

Healthy Extracts Inc. plans to list its stock on a major U.S. stock exchange for increased visibility and shareholder value.

What is the anticipated revenue range for Healthy Extracts Inc. in Q1 2024?

Healthy Extracts Inc. anticipates a revenue range of $675,000 to $725,000 in Q1 2024.

What are the upcoming product launches from Healthy Extracts Inc.?

Healthy Extracts Inc. plans to launch WHITNEY JOHNSTM NUTRITION gel packs for gut health and collagen, and BergaMet MYNUS sugar blocker.