QHSLab Inc. Reports Strong Second Quarter and Six-Month 2024 Results
QHSLab Inc. (OTCQB: USAQ) reported strong financial results for Q2 and H1 2024, demonstrating significant improvement in profitability and cash flow management. Key highlights include:
- Q2 2024 revenue increased 17% to $473,073
- Q2 gross profit improved to $294,445 with margins rising to 62.2%
- Q2 net loss reduced to $(2,890) from $(106,727) in Q2 2023
- H1 2024 revenue grew 27% to $961,660
- H1 net operating income improved to $43,571 from a loss of $(156,514)
- H1 net cash from operating activities improved to $143,961
The company's growth is attributed to increased Integrated Service Program (ISP) revenues and effective cost management. QHSLab's strategic focus on high-margin services and operational efficiency positions it for sustainable growth in the digital healthcare and point-of-care technology sectors.
QHSLab Inc. (OTCQB: USAQ) ha riportato risultati finanziari solidi per il secondo trimestre e il primo semestre del 2024, dimostrando un significativo miglioramento nella redditività e nella gestione del flusso di cassa. I punti salienti includono:
- Nel secondo trimestre del 2024, i ricavi sono aumentati del 17% raggiungendo $473,073
- Il profitto lordo del secondo trimestre è migliorato a $294,445 con margini che sono saliti al 62,2%
- La perdita netta del secondo trimestre è stata ridotta a $(2,890) rispetto a $(106,727) nel secondo trimestre del 2023
- I ricavi del primo semestre del 2024 sono cresciuti del 27% raggiungendo $961,660
- Il reddito operativo netto del primo semestre è migliorato a $43,571 da una perdita di $(156,514)
- Il flusso di cassa netto dalle attività operative del primo semestre è migliorato a $143,961
La crescita dell'azienda è attribuita all'aumento dei ricavi del Programma di Servizi Integrati (ISP) e a una gestione efficace dei costi. Il focus strategico di QHSLab su servizi ad alta margine e l'efficienza operativa la posizionano per una crescita sostenibile nei settori della sanità digitale e della tecnologia point-of-care.
QHSLab Inc. (OTCQB: USAQ) informó resultados financieros sólidos para el segundo trimestre y el primer semestre de 2024, demostrando una mejora significativa en la rentabilidad y la gestión del flujo de caja. Los aspectos destacados incluyen:
- Los ingresos del segundo trimestre de 2024 aumentaron un 17% alcanzando $473,073
- El beneficio bruto del segundo trimestre mejoró a $294,445 con márgenes que aumentaron al 62,2%
- La pérdida neta del segundo trimestre se redujo a $(2,890) desde $(106,727) en el segundo trimestre de 2023
- Los ingresos del primer semestre de 2024 crecieron un 27% hasta $961,660
- El ingreso operativo neto del primer semestre mejoró a $43,571 desde una pérdida de $(156,514)
- El flujo de caja neto de las actividades operativas del primer semestre mejoró a $143,961
El crecimiento de la empresa se atribuye al aumento de los ingresos del Programa de Servicios Integrados (ISP) y a una gestión efectiva de costos. El enfoque estratégico de QHSLab en servicios de alto margen y eficiencia operativa la posiciona para un crecimiento sostenible en los sectores de atención médica digital y tecnología instantánea de atención.
QHSLab Inc. (OTCQB: USAQ)는 2024년 2분기와 상반기 동안 강력한 재무 실적을 보고하며 수익성 및 현금 흐름 관리에서의 상당한 개선을 보여주었습니다. 주요 하이라이트는 다음과 같습니다:
- 2024년 2분기 수익은 17% 증가하여 $473,073에 도달했습니다.
- 2분기 총 이익은 $294,445로 개선되었고, 마진은 62.2%로 상승했습니다.
- 2023년 2분기 $(106,727)에서 $(2,890)로 감소하여 2분기 순손실이 줄어들었습니다.
- 2024년 상반기 수익은 27% 성장하여 $961,660에 도달했습니다.
- 2024년 상반기 순영업소득은 $(156,514)에서 $43,571로 개선되었습니다.
- 2024년 상반기 운영 활동에서 발생한 순 현금은 $143,961로 개선되었습니다.
회사의 성장은 통합 서비스 프로그램(ISP) 수익의 증가와 효과적인 비용 관리 덕분입니다. QHSLab의 고마진 서비스와 운영 효율성에 대한 전략적 초점은 디지털 헬스케어 및 현장 기술 분야에서 지속 가능한 성장을 위한 기반을 마련합니다.
QHSLab Inc. (OTCQB: USAQ) a annoncé des résultats financiers solides pour le deuxième trimestre et le premier semestre 2024, montrant une amélioration significative de la rentabilité et de la gestion des flux de trésorerie. Les points clés incluent :
- Les revenus du deuxième trimestre 2024 ont augmenté de 17 % pour atteindre 473 073 $
- Le bénéfice brut du deuxième trimestre a augmenté à 294 445 $, avec des marges atteignant 62,2 %
- La perte nette du deuxième trimestre a été réduite à 2 890 $ contre 106 727 $ au deuxième trimestre 2023
- Les revenus du premier semestre 2024 ont crû de 27 % pour atteindre 961 660 $
- Le revenu net d'exploitation du premier semestre s'est amélioré à 43 571 $ contre une perte de 156 514 $
- Le flux de trésorerie net provenant des activités d'exploitation du premier semestre a été porté à 143 961 $
La croissance de l'entreprise est attribuée à l'augmentation des revenus du Programme de Services Intégrés (ISP) et à une gestion efficace des coûts. L'accent stratégique de QHSLab sur des services à forte marge et l'efficacité opérationnelle lui permet de se positionner pour une croissance durable dans les secteurs de la santé numérique et de la technologie de proximité.
QHSLab Inc. (OTCQB: USAQ) hat starke finanzielle Ergebnisse für das zweite Quartal und das erste Halbjahr 2024 gemeldet, was eine signifikante Verbesserung der Rentabilität und des Cashflow-Managements zeigt. Die wichtigsten Highlights sind:
- Der Umsatz im zweiten Quartal 2024 stieg um 17 % auf $473,073
- Der Bruttogewinn im zweiten Quartal verbesserte sich auf $294,445 mit einer Marge von 62,2 %
- Der Nettoverlust im zweiten Quartal wurde auf $(2,890) reduziert, von $(106,727) im zweiten Quartal 2023
- Der Umsatz im ersten Halbjahr 2024 wuchs um 27 % auf $961,660
- Das Netto-Betriebsergebnis im ersten Halbjahr verbesserte sich auf $43,571 von einem Verlust von $(156,514)
- Der Nettocashflow aus operativen Tätigkeiten im ersten Halbjahr verbesserte sich auf $143,961
Das Wachstum des Unternehmens wird auf die gestiegenen Einnahmen aus dem Integrierten Dienstleistungsprogramm (ISP) und ein effektives Kostenmanagement zurückgeführt. Der strategische Fokus von QHSLab auf hochmargige Dienstleistungen und operative Effizienz positioniert das Unternehmen für ein nachhaltiges Wachstum in den Bereichen digitale Gesundheitsversorgung und Point-of-Care-Technologie.
- Q2 2024 revenue increased 17% year-over-year to $473,073
- Q2 2024 gross profit improved to $294,445 with margins rising from 56.0% to 62.2%
- Q2 2024 net operating income turned positive at $29,967 from a loss of $(35,756)
- H1 2024 revenue grew 27% year-over-year to $961,660
- H1 2024 gross profit improved to $580,603 with margins increasing to 60.4% from 54.7%
- H1 2024 net operating income improved to $43,571 from a loss of $(156,514)
- Net cash from operating activities for H1 2024 improved to $143,961 from a cash outflow of $(37,531) in 2023
- Q2 2024 net loss of $(2,890), although significantly reduced from $(106,727) in Q2 2023
- H1 2024 net loss of $(21,415), although significantly reduced from $(299,282) in H1 2023
- Slight increase in Q2 2024 operating expenses to $264,478 from $262,584 in Q2 2023
Significant Improvement in Profitability and Cash Flow Management
WEST PALM BEACH, FL, Aug. 14, 2024 (GLOBE NEWSWIRE) -- QHSLab Inc. ("the Company") (OTCQB: USAQ), a leader in digital healthcare and point-of-care technologies designed to empower clinicians with proactive value-based healthcare solutions, today announced detailed financial results for the second quarter and six months ended June 30, 2024. The Company’s Integrated Service Program (ISP) has driven robust revenue growth and improved gross margins, while the Company focused on effective cost management and enhanced cash flow management.
Financial Highlights:
Three Months Ended June 30, 2024 vs. 2023:
- Revenue: Increased to
$473,073 in Q2 2024 from$404,769 in Q2 2023, reflecting a17% rise driven by a significant increase in ISP revenues. - Gross Profit: Improved to
$294,445 from$226,828 , with gross margins increasing from56.0% to62.2% . - Operating Expenses: Slightly increased to
$264,478 from$262,584. - Sales and Marketing Expenses: Increased to
$134,183 from$128,084. - General and Administrative Expenses: Decreased to
$47,455 from$55,950. - Research and Development Expenses: Increased to
$64,812 from$60,522.
- Sales and Marketing Expenses: Increased to
- Net Operating Income: Turned positive at
$29,967 from a loss of$(35,756) . - Net Loss: Reduced significantly to
$(2,890) from$(106,727) .
Six Months Ended June 30, 2024 vs. 2023:
- Revenue: Increased to
$961,660 from$757,568 , a27% rise attributed to growth in ISP services and Allergy Diagnostic Kits sales. - Gross Profit: Improved to
$580,603 from$414,170 , with gross margins increasing to60.4% from54.7% . - Operating Expenses: Decreased to
$537,032 from$570,684. - Sales and Marketing Expenses: Slightly increased to
$256,129 from$252,036. - General and Administrative Expenses: Decreased to
$137,397 from$158,522. - Research and Development Expenses: Decreased to
$107,450 from$124,070.
- Sales and Marketing Expenses: Slightly increased to
- Net Operating Income: Improved to
$43,571 from a loss of$(156,514) . - Net Loss: Reduced significantly to
$(21,415) from$(299,282) .
Cash Flow Management:
Six Months Ended June 30, 2024 vs. 2023:
- Net Cash from Operating Activities: Improved to
$143,961 from a cash outflow of$(37,531) in 2023. This improvement is mainly due to better working capital management, particularly in accounts receivable and payable. - Net Change in Cash: Increased to
$52,618 from a decrease of$(69,847) in 2023.
Executive Commentary: Troy Grogan, President and CEO of QHSLab Inc., commented, "Our performance in the first half of 2024 demonstrates our capability to drive revenue growth while enhancing operational efficiency. The significant increase in ISP revenues and improved gross margins reflect our strategic focus on high-margin services. Our ongoing efforts to manage costs effectively are evident in the reduction of general and administrative expenses. As we continue to expand our product offerings and market reach, we remain committed to delivering sustainable growth and future value to our shareholders."
Strategic Direction 2024: Enhancing QHSLab's Growth and Operational Efficiency
As we move further into 2024, the Company is building upon its robust strategy aimed at expanding our footprint and enhancing our service offerings. Key areas of focus include:
- Increasing Income per Customer/Account:
- Enhance digital assessment completion rates.
- Expand customer income opportunities.
- Boost allergy service line usage integrated with digital medicine assessments and programs.
- Expanding Customer/Account Base:
- Enhance marketing efforts and sales.
- Strengthen sales and customer relationships.
- Operational Improvements:
- Identify and address operational bottlenecks.
- Strengthen relationships with client administrative leadership.
- Enhance provider engagement and training.
- Integrate additional digital assessments and programs.
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 improving 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
FAQ
What was QHSLab Inc.'s (USAQ) revenue for Q2 2024?
How did QHSLab Inc.'s (USAQ) gross profit margin change in Q2 2024?
What was QHSLab Inc.'s (USAQ) net loss for H1 2024?
How much did QHSLab Inc.'s (USAQ) revenue grow in H1 2024 compared to H1 2023?
What was QHSLab Inc.'s (USAQ) net cash from operating activities for H1 2024?
