Hydreight Technologies (NURS) Q2 2024 earnings summary

Executive summary

• Achieved record topline revenue of $5.59M in Q2 2024, a 27% year-over-year increase.

• GAAP revenue reached $4.10M, up 52% compared to Q2 2023.

• Positive Adjusted EBITDA of $218K, a significant improvement from ($456K) in Q2 2023.

• Gross margin rose to $1.56M from $1.08M year-over-year.

• Secured national medical spa partners and expanded pharmacy orders by 74% year-to-date.

Financial highlights

• Adjusted revenue for Q2 2024 was $5.59M, up 27% year-over-year.

• Adjusted gross margin for Q2 2024 was $1.37M, up 8% year-over-year.

• Net loss for Q2 2024 was ($27K), a substantial reduction from ($472K) in Q2 2023.

• Cash position at June 30, 2024 was $1.40M.

Outlook and guidance

• Focus remains on profitability, expanding product and service offerings, and strategic M&A.

• Anticipates further growth and cash flow from VSDHOne product expansion in the next 12 months.

• Continued investment in technology and infrastructure to support growth and compliance.