Welcome to our dedicated page for Thorne HealthTech news (Ticker: THRN), a resource for investors and traders seeking the latest updates and insights on Thorne HealthTech stock.
Thorne HealthTech, Inc. (NASDAQ: THRN) is a trailblazer in the health and wellness sector, dedicated to providing personalized healthcare solutions. By integrating dietary guidance and lifestyle recommendations with nutritional supplement interventions, Thorne is at the forefront of preventive health care.
Thorne offers at-home biomarker tests, allowing users to gain deep insights into their health from the comfort of their homes. These insights are powered by sophisticated analytical software, enabling personalized plans on diet, exercise, and supplement intake. Thorne's unique approach ensures users can confidently take action to optimize their health outcomes.
Notably, Thorne is the only supplement manufacturer collaborating with the Mayo Clinic for health and wellness research. Additionally, it partners with over 12 USA teams and is trusted by professional athletes and healthcare professionals alike, bolstering its reputation in the industry.
Recently, Thorne announced its second-quarter 2023 financial results, showcasing record net sales and a 33% growth in sales driven by robust demand for its premium wellness offerings. The company continues to expand its product portfolio and strengthen its brand awareness through new marketing campaigns.
In a major development, Thorne entered into a definitive agreement with L Catterton, a leading global consumer-focused investment firm, to acquire all outstanding shares of Thorne's common stock. This transaction, valued at approximately $680 million, underscores Thorne's market significance and commitment to driving long-term growth.
Thorne's mission is to empower individuals to take control of their health through personalized wellness solutions. With a dedicated team and cutting-edge technology, Thorne is well-positioned to remain a leader in the health and wellness industry.
On April 4, 2023, Thorne HealthTech (NASDAQ: THRN) announced significant findings from a double-blinded, placebo-controlled trial measuring brain function in 30 Junior A ice hockey players. Conducted in collaboration with Mayo Clinic and HealthTech Connex, the study aimed to evaluate the effects of Thorne's SynaQuell® supplement on brain function during a hockey season. Key results showed positive changes in selective attention, visual processing speed, and neurofilament light levels, indicating potential benefits for athletes, particularly those with concussion histories. The full results are expected later this year.
Thorne HealthTech (NASDAQ: THRN) reported a strong performance for Q4 and full-year 2022. Q4 net sales rose 27.7% to $63 million, driven by a 46.1% increase in DTC sales. Full-year net sales increased 24.1% to $228.7 million, with adjusted EBITDA growing 19.1% to $24.5 million. Despite a 544 basis point decline in gross margin to 45.5%, net income attributable to common stockholders rose to $12.5 million. For 2023, Thorne projects net sales of $280-$290 million and adjusted EBITDA of $30-$32 million. The company's focus on innovative wellness solutions and recent accolades highlight its growth potential.
Thorne HealthTech (NASDAQ: THRN) will announce its fourth quarter and full-year 2022 financial results after market close on March 30, 2023. A conference call will take place on March 31, 2023, at 8 a.m. ET to discuss these results. Investors can access the live webcast on the company's investor website. Thorne HealthTech focuses on personalized health solutions, leveraging AI and collaboration with Mayo Clinic for wellness research. The company caters to over five million customers and more than 46,000 healthcare professionals.
Thorne HealthTech (NASDAQ: THRN) has appointed Saloni Varma as its new Chief Financial Officer, effective March 13, 2023. Varma, with over 20 years of experience, previously served as CFO at MotifFoodWorks and has held leadership roles at brands like Chobani and Dove. As CFO, she will oversee accounting, finance, and investor relations, driving operational efficiencies as Thorne enters a new phase of expansion. CEO Paul Jacobson highlighted her extensive background and prior involvement with Thorne's Audit Committee, emphasizing her strategic capabilities. Thorne is recognized for its innovative personalized health solutions and collaboration with the Mayo Clinic.
Thorne HealthTech (NASDAQ: THRN) completed the acquisition of PreCon Health, Inc. on January 31, 2023, for $5 million. This strategic acquisition aims to enhance Thorne's brain health portfolio, with access to PreCon's innovative products and a leading scientific advisory board. The partnership, first established in 2021, focuses on developing dietary supplements like SynaQuell for brain health, addressing the impacts of head injuries. CEO Paul Jacobson emphasized the necessity of evolving solutions for brain health, elevating Thorne’s position in a niche market, dedicated to supporting athletes and military personnel.
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