LAS VEGAS, NV / ACCESSWIRE / July 9, 2024 / Healthy Extracts Inc. (OTCQB:HYEX), a comprehensive platform for acquiring, developing, patenting and marketing plant-based nutraceuticals in the multibillion-dollar nutraceuticals market, reported preliminary record results for the second quarter ended June 30, 2024.
Net revenue is expected to exceed a record $900,000, which would be up more than 30% from the previous quarter and up more than 50% compared to the same year-ago quarter.
Gross margin for the quarter is expected to exceed 53%, driving positive operating cash flow. Excluding non-core and non-cash expenses, the company expects to report its third sequential quarter of net profitability.
"Our record top-line, margin expansion and improved cash flow for the quarter was driven by strong direct-to-consumer and wholesale revenue growth," commented Healthy Extracts president, Duke Pitts. "Even excluding wholesale, we still exceeded our previously stated outlook for the quarter, demonstrating increased traction with our target retail customer base."
The quarter's performance has put the company on a solid financial foundation for generating cash flow and servicing debt deployed as growth capital. In fact, during the quarter, the company paid down more than $100,000 in debt while increasing its cash position.
In April, the company reported the restructuring and streamlining of debt that resulted in an additional $15,000 a month in positive cash flow. The company expects to report its third cash flow positive quarter in a row at more than $140,000. The company plans to deploy the cash into further expanding its product offerings and revenue streams, including recurring revenue from product subscriptions.
Added Pitts: "For the remainder of the year, we expect continued strong progress with top-line growth, increased cash flow, profitability and market share expansion as our addressable markets continue to strengthen. This will be largely driven by the launch of new products that will leverage our well-established, broad market channels we have strategically invested in and developed over the last several years. These investments have shown to be the best formula for building attractive shareholder value."
Please note that the preliminary unaudited results presented in this press release are estimates only and are subject to revision until the company officially reports its quarterly results in mid-August.
About Healthy Extracts "Live Life Young Again"
Healthy Extracts Inc.is a platform for acquiring, developing, researching, patenting, marketing, and distributing plant-based nutraceuticals.
The company's subsidiaries, BergametNA™ and Ultimate Brain Nutrients™ (UBN), offer nutraceutical natural heart and brain health supplements. This includes the only heart health supplement distributed in North America containing Citrus Bergamot SuperFruit™. This superfruit has the highest known concentration of polyphenols and flavonoids.
UBN's KETONOMICS® proprietary formulations, which have been designed to enhance brain activity, focus, headache and cognitive behavior, provide many sales and intellectual property licensing opportunities.
For more information visit: healthyextractsinc.com, bergametna.com or tryubn.com.
Forward-Looking Statements and Safe Harbor Notice
All statements other than statements of historical facts included in this press release are "forward-looking statements" (as defined in the Private Securities Litigation Reform Act of 1995). Such forward-looking statements include our expectations and those statements that use forward-looking words such as "projected," "expect," "possibility" and "anticipate." The achievement or success of the matters covered by such forward-looking statements involve significant risks, uncertainties and assumptions. Actual results could differ materially from current projections or implied results. Investors should read the risk factors set forth in the Company's Annual Report on Form 10-K as filed with the SEC, and future periodic reports filed with the SEC. All of the Company's forward-looking statements are expressly qualified by all such risk factors and other cautionary statements. The Company cautions that statements and assumptions made in this news release constitute forward-looking statements and make no guarantee of future performance. Forward-looking statements are based on estimates and opinions of management at the time statements are made. The information set forth herein speaks only as of the date hereof. The Company and its management undertake no obligation to revise these statements following the date of this news release.
Food & Drug Administration Disclosure
The products and formulations mentioned in this release are not for use by or sale to persons under the age of 12. The products should be used only as directed on the label. Consult a physician before use if you have a serious medical condition or use prescription medications. A doctor's advice should be sought before using this and any supplemental dietary product. These statements have not been evaluated by the FDA. These products are not intended to diagnose, treat, cure or prevent any disease.
BergametNA™, Ultimate Brain Nutrients™, UBN™, Citrus Bergamot SuperFruit™ and F4T® are registered trademarks of Healthy Extracts Inc.™
Company Contact
Duke Pitts, President
Healthy Extracts Inc.
Tel (720) 463-1004
Email contact
Investor Contact
Ronald Both
CMA Investor Relations
Tel (949) 432-7566
Email contact
Media Contact:
Tim Randall
CMA Media Relations
Tel (949) 432-7572
Email Contact
SOURCE: Healthy Extracts Inc.
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