QHSLab, Inc. Reports Record Revenue Growth and Profitability in Fiscal Year 2024

QHSLab, Inc. (OTCMKTS:USAQ) recently announced preliminary unaudited financial results for the fourth quarter and fiscal year ended December 31, 2024. The company, a digital health organization emphasizing personalized medicine through innovative population health screening and diagnostic tools in primary care, disclosed notable achievements in this period.

Financially, QHSLab demonstrated significant growth and profit milestones. The company recorded record revenue growth for the year, substantial gross margin improvements, achieving its first profitable year on a GAAP basis, and positive cash flow from operations. These positive financial outcomes enabled QHSLab to focus on balance sheet enhancement through the repayment of a portion of its outstanding debt.

In specific financial highlights, the fourth quarter of 2024 saw QHSLab achieve impressive results. Revenue surged by 98% to $625,981 compared to $315,020 in the previous year’s Q4. Gross profit rose by 117% to $412,154, with a corresponding increase in gross margin. The company reported a net income of $40,838 for the quarter, a significant improvement from a net loss of $86,627 in Q4 2023.

For the full year 2024, QHSLab’s revenue grew by 51% year-over-year, reaching $2.1 million compared to $1.4 million in 2023. There was a notable improvement in gross margin to 63.7%, reflecting an enhanced product mix and increased operational efficiencies. The company achieved a net income of $69,188, compared to a net loss of $468,362 in the previous year, showcasing a robust financial performance and dedication to profitable operations.

QHSLab expressed confidence in these unaudited financial results, expecting only minor adjustments, if any, as it finalizes its independent year-end audit for filing its Annual Report on Form 10-K. The company’s ongoing commitment to delivering value to shareholders remains evident amid its business expansion and operational efficiency efforts.

Troy Grogan, President, and CEO of QHSLab, commented on the positive results, highlighting a revenue growth of 98% compared to Q4 2023. He emphasized the resilience of the company’s operations and the effectiveness of its strategic initiatives and operational efficiency. Grogan also expressed optimism about QHSLab’s financial performance in the future, especially as the company continues to onboard more physicians.

For further information about QHSLab and its healthcare solutions, individuals are encouraged to visit the company’s website. The organization’s commitment to financial stability, operational excellence, and shareholder value remains at the forefront of its strategic priorities.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read QHSLab’s 8K filing here.

QHSLab Company Profile

QHSLab, Inc, a medical device technology and software as a service (SaaS) company, focuses on value-based healthcare, informatics, and algorithmic personalized medicine. It develops digital therapeutics and point of care solutions to support remote patient monitoring, address chronic care, and preventive medicine.