Guardion Health Sciences Announces Financial Results for the Year Ended December 31, 2023
HOUSTON, TEXAS, March 29, 2024 (GLOBE NEWSWIRE) -- Guardion Health Sciences, Inc. (Nasdaq: GHSI) (“Guardion” or the “Company”), a clinical nutrition company that offers a portfolio of science-based, clinically-supported products designed to support the health needs of consumers, healthcare professionals and providers and their patients, announced its financial results for the year ended December 31, 2023. The Company also provided a corporate update to stockholders.
- Financial highlights for the year ended December 31, 2023 include the following:
Total revenue was $12,248,550 for the year ended December 31, 2023, as compared to $11,049,772 for the year ended December 31, 2022, an increase of $1,198,778, or 10.8%. - The Viactiv® product line accounted for approximately 97.2% and 96.3% of total revenue for the years ended December 31, 2023 and 2022, respectively.
- Total operating expenses for the year ended December 31, 2023 were $9,730,834, as compared to $21,940,985 for the year ended December 31, 2022.
- Loss from operations for the year ended December 31, 2023 was $(4,336,317), as compared to $(17,420,598) for the year ended December 31, 2022.