Earth Science Tech, Inc., Reports its June 30, 2024, Quarter Results, Recording Over $8.5M in Revenue and $1.07M in Net Profit
Rhea-AI Summary
Earth Science Tech, Inc. (OTC: ETST) has reported impressive financial results for the quarter ended June 30, 2024. The company, focused on the health and wellness industry, saw significant improvements across key financial metrics compared to the same period in 2023:
Revenue surged to $8,568,918, a 3,796.13% increase from $219,934 in the previous year. Gross profit rose to $6,410,434, up 4,208.99% from $148,769. The company achieved a net profit of $1,076,254, compared to a loss of $35,596 in 2023, marking a 3,123.53% improvement.
ETST's financial position also strengthened, with cash increasing by 1,404.97% to $1,384,407 and total assets growing by 62.04% to $4,772,247. These results demonstrate substantial growth and improved profitability for Earth Science Tech in the health and wellness sector.
Positive
- Revenue increased by 3,796.13% to $8,568,918
- Gross profit grew by 4,208.99% to $6,410,434
- Net profit of $1,076,254, compared to a loss in the previous year
- Cash position improved by 1,404.97% to $1,384,407
- Total assets increased by 62.04% to $4,772,247
Negative
- None.
Miami, FL, July 29, 2024 (GLOBE NEWSWIRE) -- Earth Science Tech, Inc. (OTC: ETST) (“ETST” or “Company”), a holding entity currently focused on the health and wellness industry, today shares its financial results from its quarter ended June 30, 2024.
For the three-month quarter ended June 30, 2024, the Company recorded:
$1,384,407 in Cash, versus$91,989 in the quarter ended June 30, 2023, a$1,292,418 increase. Resulting in a 1,404.97% improvement between both periods.$4,772,247 in Total Assets, versus$2,945,143 in the quarter ended June 30, 2023, a$1,827,104 increase. Resulting in a62.04% improvement between both periods.$8,568,918 in Revenue, versus$219,934 in the quarter ended June 30, 2023, a$8,348,984 increase. Resulting in a 3,796.13% improvement between both periods.$6,410,434 in Gross Profit, versus$148,769 in the quarter ended June 30, 2023, a$6,261,665 increase. Resulting in a 4,208.99 % improvement between both periods.$1,076,254 in Net Profit, versus a loss of$35,596 in the quarter ended June 30, 2023, a$1,111,850 increase. Resulting in a 3,123.53% improvement between both periods.
About Earth Science Tech, Inc.
Earth Science Tech, Inc. is a holding entity currently in compounding pharmaceuticals and telemedicine through its wholly owned subsidiaries RxCompoundStore.com, LLC., Peaks Curative, LLC. and Earth Science Foundation, Inc.
To learn more, please visit: www.EarthScienceTech.com
RxCompoundStore.com, LLC.
RxCompound is a complete compounding pharmacy. RxCompound is currently licensed to fulfill prescriptions in the states of Delaware, Florida, Pennsylvania, New York, Arizona, New Jersey, Wisconsin, Minnesota, Rhode Island, Utah, Georgia, Nevada, Massachusetts, Missouri, Iowa, Maryland, Ohio, Colorado, North Carolina, Maine, Indiana and Illinois. RxCompound is in the application process to obtain licenses in the remaining states in which it is not yet approved to ship prescriptions.
To learn more please visit: www.RxCompoundStore.com
About Peaks Curative, LLC.
Peaks is the telemedicine referral site facilitating asynchronous consultations for branded compound medications prepared at RxCompound. Peaks is currently positioned to prescribe to all 50 states utilizing third-party consultation services, but only able to fulfill prescriptions within RxCompound’s licensed states. Peaks will be able to fulfill more states as RxCompound becomes licensed in additional states.
To learn more please visit: www.PeaksCurative.com
About Earth Science Foundation, Inc.
Earth Science Foundation Inc. is a favored entity of the Company, effectively being a non-profit organization that was incorporated on February 11, 2019, and is structured to accept grants and donations to help those in need of assistance in paying for prescriptions.
SAFE HARBOR ACT: Forward-looking statements are included within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, as amended. All statements regarding the Company’s expected future financial position, results of operations, cash flows, financing plans, business strategy, products and services, competitive positions, growth opportunities, plans and objectives of management for future operations or listing on an exchange — including words such as “anticipate,” “if,” “believe,” “plan,” “estimate,” “expect,” “intend,” “may,” “could,” “should,” “will” and other similar expressions — are forward-looking statements and involve risks, uncertainties and contingencies, many of which are beyond the Company’s control and may cause actual results, performance or achievements to differ materially from anticipated results, performance or achievements. The Company is under no obligation to (and expressly disclaims any such obligation to) update or alter its forward-looking statements, whether as a result of new information, future events or otherwise. There are no assurances that the Company will complete additional acquisitions or will be successful in being approved for a NASDAQ listing. No information in this press release should be construed in any manner whatsoever as an indication of the future performance of the Company’s revenues, financial condition or stock price.
Company Contact:
Giorgio R. Saumat
CEO and Chairman of the Board
(305) 724-5684
grsaumat@earthsciencetech.com
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