LAS VEGAS - Healthy Extracts Inc. (OTCQB:HYEX), a developer and distributor of plant-based nutraceuticals, has reported a preliminary 15% increase in net revenue for the fourth quarter of 2023 compared to the same period the previous year. The company's revenue for the quarter is expected to be around $669,000, marking a 9% rise from the third quarter of 2023.
The company's gross margin for the quarter is anticipated to surpass 70%, contributing to positive operating cash flow when excluding stock-based compensation and interest expenses. For the entire year, Healthy Extracts' revenue is projected to reach a record $2.5 million, showing a 10% increase from the previous year.
During the last quarter, Healthy Extracts launched LONGEVITY Anti-AgingTM, a new product aimed at supporting skin vitality and overall health. This addition enhances the company's portfolio, which focuses on heart health and anti-aging solutions.
Duke Pitts, president of Healthy Extracts, commented on the financial results, stating, "We ended with a strong quarter and a record year," highlighting the company's double-digit growth and expansion in product offerings, customer subscriptions, and distribution channels.
Healthy Extracts is also preparing for the first quarter of 2024, with projected net revenue between $675,000 and $725,000, which would represent a 10% to 18% growth over the first quarter of the previous year.
Furthermore, the company is planning to introduce WHITNEY JOHNSTM NUTRITION on-the-go gel packs for GUT HEALTH and COLLAGEN in mid-2024. Additionally, the second quarter will see the launch of BergaMet MYNUS sugar blocker, designed to reduce sugar impact from meals.
Healthy Extracts Inc. is known for acquiring and marketing a range of nutraceuticals, including the only North American heart health supplement containing Citrus Bergamot SuperFruitTM. The company also holds several sales and intellectual property licensing opportunities through its Ultimate Brain NutrientsTM (UBN) formulations.
The information provided in this article is based on a press release statement from Healthy Extracts Inc.
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