ViaDerma's 2021 Annual Report Shows Strong Revenue Growth Over the Previous Year

Rhea-AI Summary

ViaDerma, Inc. (VDRM) reported a staggering 4382% revenue increase in 2021, totaling $514,007 compared to $11,468 in 2020. Gross profits surged by 4621%, rising from $10,831 to $511,335. The company also improved its asset figures, with total assets rising by 123% to $275,021. Furthermore, total liabilities decreased by over 25%, from $3,631,096 to $2,710,201. CEO Dr. Chris Otiko acknowledged the challenges posed by COVID-19 but expressed optimism for resumed production and sales of Vitastem.

Positive

• Revenue increased by 4382% in 2021, reaching $514,007.
• Gross profits grew 4621%, from $10,831 in 2020 to $511,335 in 2021.
• Total assets rose by 123%, growing from $120,476 to $275,021.
• Liabilities decreased by over 25%, from $3,631,096 to $2,710,201.

Negative

• COVID-19 setbacks affected distribution in the fourth quarter of 2021.

Revenues increased by over 4000% in 2021, while liabilities decreased by more than 25%

LOS ANGELES, March 31, 2022 (GLOBE NEWSWIRE) -- ViaDerma, Inc., (“Company”) (OTC Pink: VDRM) announces the release of its 2021 Annual Report on the OTC Markets. The Company ended the year with $514,007 in revenue, compared to only $11,468 the previous year. This is an increase of $502,539, or 4382%. Gross profits for the same period grew from just $10,831 in 2020 to $511,335 in 2021, representing an increase of 4621%. Total assets in 2021 more than doubled over the previous year, growing from $120,476 in 2021 to $275,021, for an increase of 123%. The Company also reduced its total liabilities more than 25% from $3,631,096 in 2020 to $2,710,201 in 2021.

President and CEO, Dr. Chris Otiko said, “Last year was a breakthrough year in many ways for ViaDerma. Despite the significant revenue growth we experienced, 2021 could have been better had it not been for some COVID-19 related setbacks that affected our distribution during the fourth quarter. Those issues have now been resolved and production of Vitastem has resumed. We are expecting delivery of the product to our inventory in the next few weeks and hope to resume online sales on Amazon and other platforms shortly.”

About ViaDerma, Inc.
ViaDerma, Inc. (OTC: VDRM) is a publicly traded specialty pharmaceutical company committed to bringing new products to market and licensing its innovative technology to current leaders in the pharmaceutical industry in a wide variety of therapeutic areas. For more information, visit: www.viadermalicensing.com

Any forecast of future performance is a "forward looking statement" under securities laws. Such statements are included to allow potential investors the opportunity to understand management’s beliefs and opinions with respect to the future so that they may use such beliefs and opinions as one factor among many in evaluating an investment.

Contact information:
Investor Relations
Email:  info@viadermalicensing.com
Phone: 310-734-6111
Follow us on Twitter: ViaDerma Official @viaderma
Like us on Facebook: ViaDerma-VDRM @viadermapharma

FAQ

What was ViaDerma's revenue increase in 2021?

ViaDerma reported a revenue increase of 4382%, totaling $514,007 in 2021.

How much did ViaDerma's gross profits rise in 2021?

Gross profits for ViaDerma increased by 4621%, rising from $10,831 in 2020 to $511,335 in 2021.

What were ViaDerma's total assets in 2021?

ViaDerma's total assets amounted to $275,021 in 2021, a 123% increase from the previous year.

How much did ViaDerma reduce its liabilities in 2021?

ViaDerma reduced its total liabilities by over 25%, decreasing from $3,631,096 to $2,710,201.

What challenges did ViaDerma face in 2021?

ViaDerma faced COVID-19 related setbacks that affected its distribution during the fourth quarter of 2021.