Welcome to our dedicated page for Healthy Extracts news (Ticker: HYEX), a resource for investors and traders seeking the latest updates and insights on Healthy Extracts stock.
Healthy Extracts Inc. (HYEX) drives innovation in plant-based nutraceuticals through patented formulations and multi-channel distribution. This dedicated news hub provides investors with verified updates on corporate developments, financial milestones, and market strategies.
Find timely reports on earnings announcements, product launches, intellectual property advancements, and strategic partnerships. Our curated collection simplifies tracking the company’s progress in heart health supplements, cognitive support products, and subscription-based wellness solutions.
Stay informed about HYEX’s operational expansions and regulatory milestones through primary-source press releases. Bookmark this page for direct access to the company’s latest developments in the $400B+ global nutraceutical market.
Healthy Extracts (OTCQB:HYEX) announced preliminary results for Q2 2024, projecting record net revenue exceeding $900,000, marking a 30% increase from the previous quarter and over 50% compared to Q2 2023. The company also expects a gross margin above 53%, leading to positive operating cash flow and its third consecutive quarter of net profitability, excluding non-core and non-cash expenses. The growth is attributed to substantial direct-to-consumer and wholesale revenue. Additionally, Healthy Extracts paid down more than $100,000 in debt and improved its cash position, forecasting a third cash flow-positive quarter with over $140,000. The company aims to leverage its market channels to launch new products and expand revenue streams throughout the year, enhancing shareholder value.
Healthy Extracts (OTCQB:HYEX) reported first-quarter 2024 financial results. Net revenue rose 12% to $689,000, driven by distribution expansion and subscription revenue growth. Gross margin increased to 59.3% from 45.2%, thanks to improved manufacturing efficiency. The company achieved a positive cash flow of $68,000 for the second consecutive quarter.
Net loss was $861,000 or $(0.30) per share, primarily due to interest expenses and stock-based compensation. Excluding non-core costs, the net income was $2,500. Subscription growth was strong, with Amazon 'Subscribe & Save' customers up 81% and direct-to-consumer subscriptions up 28% year-over-year.
The company plans to launch new products in the latter half of 2024, including anti-aging and sugar blocker gel packs. Healthy Extracts aims for continued growth and profitability in upcoming quarters.
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