Healthy Extracts Reports Preliminary Q4 2023 Results

Q4 2023 Net Revenue up 15%, with Strong Subscription-Based Revenue Growth; Outlook for Continued Strong Overall Revenue Growth in Q1 2024

LAS VEGAS, NV / ACCESSWIRE / March 13, 2024 / Healthy Extracts Inc. (OTCQB:HYEX), a platform for acquiring, developing, patenting, marketing, and distributing plant-based nutraceuticals that target select high-growth categories within the multibillion-dollar nutraceuticals market, reported preliminary unaudited results for the fourth quarter and full year ended December 31, 2023.

Net revenue for the fourth quarter of 2023 is expected to total approximately $669,000, up 9% from the third quarter of 2023 and up more than 15% over the same year-ago quarter.

Gross margin for the quarter is expected to exceed 70%, driving positive operating cash flow after excluding stock-based compensation expense (options and warrants) and interest expense.

Revenue for the full year is expected to total a record of approximately $2.5 million, up 10%.

During the fourth quarter, the company launched LONGEVITY Anti-Aging^TM, a new proprietary formulation designed to support skin vitality, arterial flexibility, cellular and joint health. LONGEVITY Anti-Aging complements the company's growing heart health product portfolio which supports a holistic approach to anti-aging like healthy skin.

Management Commentary
"We ended with a strong quarter and a record year," commented Healthy Extracts president, Duke Pitts. "We continued to grow our top line at a healthy double-digit pace year-over-year, as our product offerings, customer subscriptions, and distribution channels continued to expand.

"These results also drove another quarter of gross margin that is expected to exceed 70%, with this largely due to the improved manufacturing efficiencies and lower freight costs that we implemented earlier in the year. Altogether, these factors contributed to positive operational cash flow after excluding stock-based compensation and interest expense for the quarter.

"We continue to advance toward the listing of our stock on a major U.S. stock exchange, which we expect to elevate our visibility and broaden awareness of our success in the financial community. We also expect such a listing to provide our shareholders with greater liquidity and enhance shareholder value.

"Looking ahead, this year we plan to launch a number of new products that will benefit from our multiple sales and distribution channels and our broadening customer base. We will continue to pursue growth both organically and through strategic acquisitions, and particularly acquisitions that would benefit from our broad distribution channels. In all, we anticipate another strong year ahead for Healthy Extracts."