Healthy Extracts Reports 172% Revenue Growth and Positive Net Income in First Quarter 2022
In Q1, our record revenue performance and profitability were driven by a continued ramp up in sales through our direct-to-consumer channels, including a four-fold growth in recurring revenue from subscriptions, commented Duke Pitts, president of Healthy Extracts.
- In Q1, our record revenue performance and profitability were driven by a continued ramp up in sales through our direct-to-consumer channels, including a four-fold growth in recurring revenue from subscriptions, commented Duke Pitts, president of Healthy Extracts.
- Also during the quarter, we successfully navigated supply chain challenges by opportunistically increasing our inventories for meeting anticipated growth in demand.
- Net revenue in the first quarter of 2022 increased 172% to $463,000 from $170,000 in the same year-ago quarter.
- Gross profit totaled $325,000 or 70.1% of net revenue as compared to $129,000 or 75.7% of revenue in the same year-ago quarter.