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Newtopia Inc. (NEWUF) is a tech-enabled whole health platform that focuses on creating sustainable habits to prevent, slow, and reverse chronic diseases. The company recently announced GLP-1 Sustain, a program designed to support users taking GLP-1 receptor agonists by maintaining long-term health benefits and cost savings. Newtopia's habit change platform has shown success in promoting positive lifestyle habits, resulting in significant weight loss and metabolic risk reduction. The company is dedicated to helping individuals develop constructive lifestyle habits for long-term health and well-being.
Newtopia Inc. reported substantial growth in its fourth quarter and full year 2022 financial results, with revenue reaching $3.1 million for Q4, a 30% increase year-over-year, and $11.2 million for the full year, representing a 7% increase. The company achieved a record engagement of 149,000 users, up 10% year-over-year. Gross profit margins improved, with Q4 margins at 65% compared to 52% in Q4 2021, and full year margins at 54% up from 49%. The firm is focused on cost management and aims for profitability in 2023, driven by ongoing multi-year contract renewals and a robust new business pipeline.
The conference call addressing these results is scheduled for April 18, 2023.
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