$ELMT's financial results for FY 2021 Promising news from Element Nutritional Sciences ($ELMT.c $ELNSF), reporting its financial results for the three months and full-year ended Dec 31, 2021.
Highlights:
- Increase in generated revenue of 156% to $2.4M w/ gross margin of $0.2M
- Decrease in net loss from $2.5M to $1.3M
- Commenced trading on the OTCQB
- Launched Rejuvenate products at multiple additional stores, adding over 1,200 points of distributions (Longo's grocery chain, Fortinos locations, Loblaws, Sam's Club & Publix Super Markets)
- Agreement with leading e-commerce business accelerator, Pattern Inc
- Launched JAKTRX Promino with a higher dosage formulation for sports nutrition market
- Planned launch of Rejuvenate Immune Health
- Formed Medical Advisory Board
- Received a global Patent Cooperation Treaty for the amino acid formulation in Rejuvenate
Overall, these are solid results for $ELMT as they expanded their distribution footprint through significant large retail partnerships, accelerated sales volume through retail and e-commerce channels, and developed new product formats.
https://financialpost.com/pmn/press-releases-pmn/business-wire-news-releases-pmn/element-nutritional-sciences-reports-q4-and-fiscal-2021-results