Plant based products innovator Healthy Extracts Inc (OTCMKTS:HYEX) came into considerable focus among investors this past Friday and its stock ended the day with gains of as much as 49%.
Trading Data
On Friday, HYEX stock soared 49% to $0.0595 with more than 454k shares, compared to its average Friday of 30k shares. The stock moved within a range of $0.0409 – 0.0760 after opening trade at $0.0409.
Healthy Extracts Reports Fourth Quarter and Full Year 2021 Results
The company’s products are mainly aimed at brain and heart health. Back on Friday, the company came into focus after it announced its financial results for the fourth fiscal quarter and the full year, both of which ended on December 31, 2021. In this situation, it may be a good move to perhaps look into some of the highlights from the financial results.
In the fourth quarter, Healthy Extracts managed to bring in revenues to the tune of $672,000, which reflected a sequential rise of as much as 77% and a year on year rise of 394%.
On the other hand, the company also managed to generate a net income of $535,000 and that was again a major development considering the fact that in the year ago period, it had suffered a loss of $1.6 million. In the 2021, fiscal year, revenues jumped to $1.5 million, which reflected a year on year rise of 15%. Gross profit came in at $695,000.
Key Quote
“Our record performance in 2021 was driven by the strong ramp up in sales through both our wholesale distribution and direct-to-consumer channels, which includes subscription options,” commented Duke Pitts, president of Healthy Extracts. “These results also reflect our rapidly expanding customer base, with estimated customer lifetime value or CLV now exceeding $500. Our growth in CLV and subscriptions demonstrates that once customers discover our products, they come back for more.
Technical Data
HYEX stock is trading above the 20-Day and 50-Day Moving averages of $0.0389 and $0.0395 respectively. However, the stock is trading below the 200-Day moving average of $0663.
