Welcome to our dedicated page for Innerscope Hear news (Ticker: INND), a resource for investors and traders seeking the latest updates and insights on Innerscope Hear stock.
InnerScope Hearing Technologies, Inc. (INND) is a technology-driven company based in Roseville, California, offering scalable B2B and B2C solutions. The company provides a B2B SAAS-based Patient Management System software program that improves operations and communication with patients. They also offer a buying group experience for audiology practices to lower product costs and increase margins. INND competes in the Direct-to-Consumer markets with 'hearable,' 'wearable,' personal sound amplification products (PSAP). Revolutionary apps on iOS and Android markets cater exclusively to the hearing impairment population globally, tapping into a vast untapped market created by the recent OTC (Over-the-Counter) hearing aids ruling.
InnerScope Hearing Technologies has launched four models of its iHEAR OTC Rechargeable Hearing Aids on CVS.com, enhancing its market presence through the largest U.S. pharmacy chain. The Bluetooth-enabled models offer advanced technology, including full audio streaming and noise reduction, priced significantly lower than traditional hearing aids, ranging from $499.99 to $999.99. With the FDA's new regulations on OTC hearing aids, customers can save thousands compared to professional fittings. CEO Matthew Moore highlights this launch as a major boost to the iHEAR brand.
InnerScope Hearing Technologies Inc. (OTC: INND) has announced the launch of its complete line of FDA-Registered Over-the-Counter Rechargeable Hearing Aids through its subsidiary, HearingAssist, available on RiteAid.com. These affordable hearing aids, priced from $499.99 to $799.99, offer advanced features such as Bluetooth wireless technology and full audio streaming. Customers can purchase without a prescription, and payment options include interest-free installments. This strategic move positions InnerScope as a leader in the growing OTC hearing aid market.
InnerScope Hearing Technologies (OTC: INND) reported strong Q3 2022 financial results, achieving consolidated revenues of $6,564,682 and a net profit of $3,664,342. This marks the company's second consecutive profitable quarter, with a positive EBITA of 55.8%. Additionally, InnerScope recognized a significant gain of $4,262,355 from debt extinguishment and has eliminated all convertible debts with lenders. The company focuses on expanding its wholesale and retail distribution network ahead of the new Over-the-Counter Hearing Aid Law which came into effect on October 17, 2022.
InnerScope Hearing Technologies Inc. (OTC: INND) announced its participation in the Emerging Growth Conference, taking place on November 9, 2022, with CEO Matthew Moore presenting at 1:10 p.m. EST.
This interactive event provides a platform for investors to engage with the CEO and ask questions in real time. Moore will discuss opportunities arising from the new Over-the-Counter Law for HearingAssist and iHear brands, which allows over-the-counter sales of hearing aids.
Registration is required to attend and an archived version will be available post-event.
InnerScope Hearing Technologies Inc. (OTC: INND) has launched a new line of affordable Over-the-Counter (OTC) hearing aids under the iHEAR brand, coinciding with the FDA's new regulations that allow OTC hearing aids to be sold without prescriptions. The new products, which range from $499.99 to $999.99, are designed for various lifestyles and include app-controlled models. InnerScope's well-established wholesale distribution network positions it advantageously in this emerging market. The company has almost 500,000 customers and continues to innovate in the direct-to-consumer hearing aid space.
InnerScope Hearing Technologies Inc. (OTC: INND) has announced the completion of PCAOB audits for its 2019 and 2020 financial statements, now filed with the SEC. This audit aims to enhance transparency and reliability in financial reporting, critical steps toward InnerScope's goal of becoming a fully reporting public company and pursuing a NASDAQ listing. CEO Matthew Moore emphasized that completing these audits represents a significant milestone in the company’s growth trajectory, ensuring compliance and paving the way for future opportunities.
InnerScope Hearing Technologies announced plans to register its hearing aids in compliance with the FDA's OTC Final Rule, allowing for retail sales without a medical exam. The enactment of the OTC Hearing Aid Law on October 16, 2022, will facilitate consumer access to hearing aids in stores and online, potentially transforming a market currently dominated by expensive clinical fittings. InnerScope aims to leverage its network of retailers, including Walmart, to introduce affordable options priced between $499 to $1,500 per pair, addressing the needs of millions of Americans with undetected hearing loss.
InnerScope Hearing Technologies (OTC: INND) reported record consolidated net revenues of $6,910,386 for Q2 2022, a massive increase from $404,676 in Q1 2022, resulting in a net profit of $3,881,620 with a 56% positive Earnings Before Taxes (EBT). The overall revenue for the first half of 2022 reached $7,315,062, highlighting a 15,435% year-over-year growth. The company anticipates continued revenue growth from over $4,000,000 in filled orders for Q3 2022.
InnerScope Hearing Technologies Inc. (OTC: INND) announced that its subsidiary, HearingAssist, secured $2,750,000 through a Receivable Factoring Agreement with Star Funding Inc. This agreement allows for additional funding without a ceiling limit, facilitating the fulfillment of growing orders from InnerScope's distribution network. CEO Matthew Moore emphasized that this partnership will support their expansion plans, particularly with the anticipated enactment of the OTC Hearing Aid Act, expected within 90 days.
InnerScope Hearing Technologies invites investors to a real-time interactive presentation led by CEO Matthew Moore at the Emerging Growth Conference on June 8, 2022, at 2:30 p.m. EST. The event allows interaction between Moore and attendees, who can ask questions. The focus will be on how InnerScope is positioned in the emerging over-the-counter hearing aid market due to the expected passage of the OTC Hearing Aid Act. This act aims to increase accessibility to hearing aids for the 70 million North Americans with hearing impairments.
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