NEWPORT BEACH, Calif., March 29, 2024 (Globe Newswire) — Elevai Labs Inc. (NASDAQ: ELAB), a medical aesthetics company specializing in physician-prepared skin care, today announced its fourth quarter and Reported financial results for the year ended December. , 31, 2023.
“This has been a pivotal year for us, with our revenue more than doubling, a clear indicator of our market strength and customer trust,” said Jordan R., CEO of Elevai Labs. Dr. Prouse said. “We are proud of the increased efficiencies in our sales, production and supply chain, as seen in improved gross margins, and are excited about further advances at the intersection of aesthetics and biotechnology. is just the beginning of our ambitious vision for the future.”
Financial results for the three months ended December 31, 2023
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revenue For the three months ended December 31, 2023, it increased to $698,591. This compares to $138,898 for the three months ended December 31, 2022, and $554,654 for the three months ended September 30, 2023, an increase of 402.9% and 25.9% year over year. Quarterly.
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gross profit margin It was 66.1% for the three months ended December 31, 2023, and 67.2% for the three months ended December 31, 2022.
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Operating expenses Revenue for the three months ended December 31, 2023 was $1,542,639. This compares to $767,530 for the three months ended December 31, 2022 and $1,151,696 for the three months ended September 30, 2023, an increase of 100.9% year over year and a quarterly increase of 33.9%. . More than a quarter.
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Total comprehensive loss For the three months ended December 31, 2023, it was $708,508 on a GAAP basis.
Full-year financial results for the fiscal year ending December 2023
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revenue increased to $1,712,595 for the year ended December 31, 2023, compared to $766,277 for the year ended December 31, 2022, an increase of 123.5% year over year.
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gross profit margin 66.2% for the year ended December 31, 2023, compared to 58.4% for the year ended December 31, 2022.
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Operating expenses Revenues for the year ended December 31, 2023 were $4,900,791 and revenue for the year ended December 31, 2022 were $2,238,350.
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Total comprehensive loss On a GAAP basis for the year ended December 31, 2023, it was $4,301,426.
About ELEVAI Labs, Inc.
ELEVAI Labs Inc. (NASDAQ: ELAB) is a medical aesthetic company that develops cutting-edge physician-prepared skin care applications. The company solves unmet needs in the medical aesthetic space by combining cutting-edge, science-driven applications with next-generation consumer applications. ELEVAI Labs focuses on leveraging proprietary stem cell exosome technology to develop trending aesthetic skin care cosmetics for the physician-dispensed market. For more information, please visit www.elevaiskincare.com.
Forward-looking statements
Certain statements in this announcement are forward-looking statements, including, without limitation, the Company's proposed offerings. These forward-looking statements involve known and unknown risks and uncertainties that we believe may affect our financial condition, results of operations, business strategy and financial needs. is based on our current expectations and projections of future events. We will notify you whether trading in our common stock begins or the successful completion of an offering. Investors should understand that many (but not all) of these statements include “estimates,” “believes,” “hopes,” “expects,” “anticipates,” “estimates,” “plans,” “intends,” You'll notice that I use words like “plan.” This prospectus uses the words “,” “will,” “would,” “should,” “could,” “might,” and other similar expressions. We undertake no obligation to publicly update or revise any forward-looking statements to reflect subsequent events or circumstances or to reflect changes in our expectations, except as required by law. yeah. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, there can be no assurance that such expectations will prove to be correct. The Company also cautions investors that actual results may differ materially from anticipated results and encourages investors to: We discuss other factors that may affect future results in our registration statement and other filings with the SEC.
For media inquiries, please contact us below.
media contact
brenda buchler
chief marketing officer
contact@elevailabs.com
Investor Information Contact:
Tyler Group, Circadian Group IR
IR@elevailabs.com
