Healthy Extracts (HYEX) Reports Prelim Q4 Results

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

Healthy Extracts Inc. (OTCQB: HYEX) 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."

Q1 2024 Revenue Outlook

For the first quarter of 2024, the company anticipates net revenue of approximately $675,000 to $725,000, which would represent 10% to 18% growth over the first quarter of last year.

2024 Product Outlook

Healthy Extracts' top brand ambassador and renowned fitness expert, Whitney Johns, is preparing to launch WHITNEY JOHNS^TM NUTRITION on-the-go gel packs for GUT HEALTH and COLLAGEN (anti-aging) in mid-2024. These products will be based on Healthy Extracts' exclusive oral delivery system and proprietary formulations.

The company is also planning to launch in the second quarter its new BergaMet MYNUS sugar blocker, which is specially formulated to reduce up to 42% of the sugar impact from meals. The MYNUS on-the-go gel-packs will be made available under the company's exclusive U.S. and Canadian licensing and manufacturing agreement with Gelteq.

These preliminary unaudited results are estimates only and are subject to revision until the company reports its financial results for the fourth quarter and full year ended December 31, 2023, which it expects to report in March.

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