QHSLab, Inc. (OTCQB: USAQ) Reports Record Q3 2024 Revenues, Reflecting Accelerated Expansion in Digital Health and Allergy Diagnostics
QHSLab Inc. (USAQ) reported strong Q3 2024 financial results, with revenue increasing 62% year-over-year to $544,285. The company achieved a net income of $49,765, reversing a loss from Q3 2023. Gross margin expanded to 67.1% from 56.3% last year. The Integrated Service Program (ISP) segment showed remarkable growth, with revenue up 143% year-to-date. Allergy kit sales grew 48% to $220,000 in Q3. The company reached a milestone of 100,000 completed digital assessments and strengthened its balance sheet by repaying over $100,000 in debt. Year-to-date revenue reached $1.5 million, up 38% from 2023.
QHSLab Inc. (USAQ) ha riportato risultati finanziari solidi per il terzo trimestre del 2024, con un fatturato aumentato del 62% rispetto all'anno precedente, raggiungendo i $544.285. L'azienda ha ottenuto un reddito netto di $49.765, invertendo una perdita dal terzo trimestre del 2023. Il margine lordo è cresciuto al 67,1% rispetto al 56,3% dell'anno scorso. Il segmento del Programma di Servizi Integrati (ISP) ha mostrato una crescita notevole, con un fatturato aumentato del 143% dall'inizio dell'anno. Le vendite dei kit per allergie sono cresciute del 48%, raggiungendo i $220.000 nel terzo trimestre. L'azienda ha raggiunto un traguardo di 100.000 valutazioni digitali completate e ha rafforzato il suo bilancio ripagando oltre $100.000 di debiti. Il fatturato da inizio anno ha raggiunto $1,5 milioni, con un aumento del 38% rispetto al 2023.
QHSLab Inc. (USAQ) informó resultados financieros sólidos para el tercer trimestre de 2024, con ingresos que aumentaron un 62% interanual, alcanzando $544,285. La compañía logró un ingreso neto de $49,765, revirtiendo una pérdida del tercer trimestre de 2023. El margen bruto se expandió al 67.1% desde el 56.3% del año pasado. El segmento del Programa de Servicios Integrados (ISP) mostró un crecimiento notable, con ingresos hasta la fecha aumentados en un 143%. Las ventas de kits de alergia crecieron un 48%, alcanzando $220,000 en el tercer trimestre. La compañía alcanzó un hito de 100,000 evaluaciones digitales completadas y fortaleció su balance al pagar más de $100,000 en deudas. Los ingresos acumulados hasta la fecha llegaron a $1.5 millones, un 38% más que en 2023.
QHSLab Inc. (USAQ)는 2024년 3분기 강력한 재무 결과를 보고했으며, 수익이 전년 대비 62% 증가하여 $544,285에 달했습니다. 회사는 2023년 3분기에 손실을 만회하며 $49,765의 순이익을 달성했습니다. 총 마진은 작년 56.3%에서 67.1%로 확대되었습니다. 통합 서비스 프로그램(ISP) 부문은 143%의 연도초 대비 수익 증가를 보이며 눈에 띄는 성장을 기록했습니다. 알레르기 키트 판매는 3분기에 48% 증가하여 $220,000에 도달했습니다. 회사는 100,000개의 디지털 평가 완료라는 이정표를 달성했으며, $100,000 이상의 부채를 상환하여 재무 상태를 강화했습니다. 연도 초부터의 수익은 $1.5 백만에 달하며 2023년 대비 38% 증가했습니다.
QHSLab Inc. (USAQ) a annoncé des résultats financiers solides pour le troisième trimestre 2024, avec un chiffre d'affaires en augmentation de 62 % par rapport à l'année précédente, atteignant 544,285 $. L'entreprise a réalisé un revenu net de 49,765 $, inversant une perte du troisième trimestre 2023. La marge brute est passée de 56,3 % l'année dernière à 67,1 %. Le segment du Programme de Services Intégrés (ISP) a connu une croissance remarquable, avec un chiffre d'affaires en hausse de 143 % depuis le début de l'année. Les ventes de kits d'allergie ont augmenté de 48 %, atteignant 220,000 $ au troisième trimestre. L'entreprise a atteint un jalon de 100,000 évaluations numériques complétées et a renforcé son bilan en remboursant plus de 100,000 $ de dettes. Le chiffre d'affaires depuis le début de l'année a atteint 1,5 million de dollars, soit une augmentation de 38 % par rapport à 2023.
QHSLab Inc. (USAQ) hat starke Finanzzahlen für das dritte Quartal 2024 berichtet, mit einem Umsatz, der im Vergleich zum Vorjahr um 62 % auf $544.285 gestiegen ist. Das Unternehmen erzielte einen Nettoertrag von $49.765 und kehrte damit einen Verlust aus dem dritten Quartal 2023 um. Die Bruttomarge erweiterte sich von 56,3 % im letzten Jahr auf 67,1 %. Der Bereich des integrierten Dienstleistungsprogramms (ISP) zeigte ein bemerkenswertes Wachstum, mit einem Umsatz, der bis heute um 143 % gestiegen ist. Der Verkauf von Allergiekits wuchs im dritten Quartal um 48 % auf $220.000. Das Unternehmen erreichte einen Meilenstein von 100.000 abgeschlossenen digitalen Bewertungen und stärkte seine Bilanz durch die Rückzahlung von über $100.000 an Schulden. Der Umsatz seit Jahresbeginn beläuft sich auf $1,5 Millionen, was einem Anstieg von 38 % im Vergleich zu 2023 entspricht.
- Revenue increased 62% YoY to $544,285 in Q3 2024
- Achieved net income of $49,765, reversing $82,000 loss from Q3 2023
- Gross margin improved to 67.1% from 56.3% YoY
- ISP revenue grew 143% year-to-date to $450,000
- Allergy kit sales increased 48% YoY to $220,000
- Repaid over $100,000 in long-term debt
- Achieved cash-flow positivity
- None.
Revenue Soars
Integrated Service Program (ISP) Revenue Up
Net Income of
Strengthens Balance Sheet with Over
Milestone Achievement: Over 100,000 Digital Medicine Assessments Completed
WEST PALM BEACH, FL, Nov. 14, 2024 (GLOBE NEWSWIRE) -- QHSLab Inc. ("the Company") (OTCQB: USAQ), an emerging leader in digital healthcare solutions and value-based clinical technologies, today highlighted its Q3 2024 financial and operational performance, underscoring its commitment to innovation and growth.
Financial Highlights:
- Q3 2024 Performance: Revenue surged by over
60% to$544,285 from$336,407 in Q3 2023, marking three consecutive quarters of growth. Gross profit more than doubled to$365,133 , boosting the gross margin to67.1% (up from56.3% last year). - Year-to-Date Results: Revenue grew
38% year-to-date, hitting$1.5 million compared to$1.1 million in 2023. Gross margin increased to62.8% , showcasing a more strategic product mix and improved efficiencies. - Net Income Turnaround: Q3 2024 saw net income of just under
$50,000 , a sharp recovery from an$82,000 loss in Q3 2023. Year-to-date net income reached approximately$28,000 , reversing a$382,000 loss in 2023.
Strategic Performance:
- ISP Revenue Growth: The Digital Health Services ISP segment's Q3 revenue rose a solid
126% , contributing nearly$162,000. Year-to-date growth was143% , reaching close to$450,000 compared to under$185,000 in 2023. - Allergy Kit Sales: Sales increased by
48% year-over-year to just over$220,000 in Q3 2024, driven by successful cross-selling and bundled solutions adoption among primary care providers. - Cost Management and Investments: General, administrative, and marketing expenses remained steady, ensuring disciplined spending amid growth. R&D investment rose to nearly
$187,000 for the first nine months, up from$169,000 in 2023, underscoring commitment to platform innovation and new product development. - Debt Reduction: The company used over
$100,000 from operating cash flow for long-term debt repayment, achieving cash-flow positivity and demonstrating strong financial discipline.
Operational Highlights:
- Milestone in Assessments: Surpassed 100,000 completed digital assessments, doubling last year's numbers and highlighting increased platform adoption for managing allergy, anxiety, depression, and chronic pain, among other chronic health conditions.
- Grant-Funded Research: Secured a grant of nearly
$300,000 t o advance research on digital health tools for allergic rhinitis, affirming the company's role in chronic care and population health management. - R&D Leadership: Presented groundbreaking research at the American College of Allergy, Asthma, and Immunology, showcasing the impact of allergic rhinitis on mental health and commitment to integrated care and evidence-based practices.
- Financial Strength: Achieved cash-flow positivity and allocated over
$100,000 for debt repayment, reinforcing QHSLab's focus on balanced growth and fiscal responsibility.
Executive Commentary: "We are thrilled with our exceptional performance this quarter, which highlights the growing demand for our innovative digital health solutions," said Troy Grogan, President and CEO of QHSLab, Inc. "Surpassing 100,000 completed digital assessments reflects our unwavering commitment to empowering clinicians, enhancing patient outcomes, and driving shareholder value. Achieving net income and cash-flow positivity, alongside our significant revenue growth, underscores the dedication of our team and the confidence of our shareholders in our vision and strategy."
Looking Ahead
QHSLab, Inc. is actively expanding its platform capabilities and forging new partnerships while exploring high-growth opportunities in clinical research and personalized medicine. By leveraging its expertise in digital health innovation, the Company aims to redefine population health management, enhance patient outcomes, and drive sustainable, long-term value for stakeholders.
More Information
Readers are encouraged to review QHSLab, Inc.’s Form 10-Q for the period ended September 30, 2024, available on the SEC's EDGAR database and the OTC Markets website by searching stock symbol USAQ. This detailed report includes comprehensive financial statements, management's discussion and analysis, and other essential disclosures.
For more information about QHSLab and our healthcare solutions, please visit www.qhslab.com.
About QHSLab, Inc.
QHSLab, Inc. (OTCQB: USAQ) is a medical device company providing digital healthcare solutions and point-of-care-diagnostic tests to primary care physicians. Digital healthcare allows doctors to assess patient responses quickly and effectively using advanced artificial intelligence algorithms. Digital healthcare can also remotely monitor patients’ vital signs and evaluate the effects of prescribed medicines and treatments on patients’ health through real-time data transferred from patient to doctor. QHSLab, Inc. also markets and sells point-of-care, rapid-response diagnostic tests used in the primary care practice. QHSLab, Inc.’s products and services are designed to help physicians improve patient monitoring and medical care while also increasing their revenues.
Forward-Looking Statements
Certain matters discussed in this press release are ‘forward-looking statements’ intended to qualify for the safe harbor from liability established by the Private Securities Litigation Reform Act of 1995. In particular, the Company’s statements regarding trends in the marketplace, future revenues, future products, and potential future results and acquisitions are examples of such forward-looking statements. Forward-looking statements are generally identified by words such as ‘may,’ ‘could,’ ‘believes,’ ‘estimates,’ ‘targets,’ ‘expects,’ or ‘intends,’ and other similar words that express risks and uncertainties. These statements are subject to numerous risks and uncertainties, including, but not limited to, the timing of the introduction of new products, the inherent discrepancy in actual results from estimates, projections, and forecasts made by management, regulatory delays, changes in government funding and budgets, and other factors, including general economic conditions, not within the Company’s control. The factors discussed herein and expressed from time to time in the Company’s filings with the Securities and Exchange Commission could cause actual results and developments to be materially different from those expressed in or implied by such statements. The forward-looking statements are made only as of the date of this press release. The Company undertakes no obligation to publicly update such forward-looking statements to reflect subsequent events or circumstances.
Investor Relations Contact:
Olivia Giamanco
QHSLab, Inc.
(929) 379-6503
ir@usaqcorp.com
https://twitter.com/QHSLabInc
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