Financial Performance - Fourth quarter sales reached $19.7 million, representing a 24% increase from $15.9 million in Q4 2023, with gross profit rising 42% to $8.1 million from $5.7 million [1][7] - For the full year 2024, sales totaled $69.4 million, a 25% increase compared to $55.7 million in 2023, with gross profit increasing by approximately $6.7 million to $27.1 million from $20.3 million [1][7] - The net loss from operations for Q4 2024 was reduced to $0.3 million, a significant improvement from a $7.4 million loss in Q4 2023, which included a $6.1 million non-cash goodwill write-off [7][8] - Adjusted EBITDA turned positive at $0.1 million for Q4 2024, improving by nearly $1.1 million from a loss of $0.95 million in Q4 2023 [7][9] - For the full year, the net loss from operations was approximately $1.8 million, down from a $10.5 million loss in 2023, with the previous year's loss also impacted by the goodwill write-off [7][8] Strategic Insights - The CEO of Healthy Choice Wellness Corp. highlighted the achievement of Adjusted EBITDA profitability in the first full quarter as a stand-alone company, emphasizing strategic investments for long-term impact [4] - The acquisition of GreenAcres Market has led to operational enhancements across all 19 stores, contributing to record revenue and improved efficiency [4] Balance Sheet Overview - As of December 31, 2024, total assets amounted to $34.1 million, up from $28.4 million in 2023, with current assets increasing to $9.7 million from $5.9 million [11] - Total liabilities rose to $31.7 million from $19.4 million in 2023, while total stockholders' equity decreased to $2.4 million from $9.0 million [11]
Healthy Choice Wellness Corp. Reports Fourth Quarter 2024 Financial Results and Full Year Fiscal 2024 Results