Fri, Jun 28, 7:02 PM (71 days ago)
Earth Science Tech, Inc. (ETST) reported significant financial performance improvements for the fiscal year ending March 31, 2024. The company achieved a revenue of $11,953,635, a substantial increase from $48,537 in the prior year, driven by an aggressive marketing campaign and the introduction of new products. The gross profit surged to $7,828,496, reflecting a gross margin of 65%. Operating expenses also rose, primarily due to increased labor costs and professional fees, resulting in a net income of approximately $812,000, compared to a net loss of $(365,000) in the previous year. The company improved its financial condition, with total assets increasing to $3,881,336 and stockholders' equity rising to $2,249,305. Key risk factors include competition, regulatory compliance, and cybersecurity. The strategic focus remains on expanding its telehealth and compounding pharmaceutical operations.