Healthier Choices Management Corp (OTCMKTS:HCMC) Stock Soars After Earnings Update
As the earnings season continues more and more companies are announcing their financial results and it was the same on Monday. One of the companies which announced its financial results was Healthier Choices Management Corp (OTCMKTS:HCMC), which announced its financial results for the three-month and twelve months periods the period ended on December 31, 2022.
Healthier Choices Management Corp. Reports Fourth Quarter 2022 Financial Results and Full Year Fiscal 2022 Results
In the fourth quarter, the company managed to bring in net sales of as much as $12.3 million, which reflected a year-on-year rise of as much as 285% from the net sales of $3.2 million in the prior year period. Gross profits declined to $3.1 million from $4 million on a year-on-year basis but net losses narrowed from $2.5 million to $2.3 million.
The net sales for the full year stood at $29.3 million which worked out to a record-breaking year on year rise of 120% from around %16 million in the 2021 fiscal year. In the full year, the company suffered a net loss of around $7.2 million and that reflected a 79% rise from the $4 million worth of losses in the prior year period. It remains to be seen if the Healthier Choices Management Corp stock comes into focus today or not.