Healthier Choices Management Corp (OTCMKTS: HCMC) Reported 7% Gain In Gross Profit in Q2 2021

Healthier Choices Management Corp (OTCMKTS: HCMC) announced its Q2 2021 financial results for the six months ended June 30, 2021.

Healthier Choices report a gross profit of $3 million


CEO and Chairman Healthier Choices Jefferey Holman said, “We are both pleased and proud of our performance in the second quarter. Our team delivered gross profit growth as well as a noteworthy improvement in our adjusted EBITDA results for the quarter.”

The company reported sales growth and achieved 7% gross profit gains compared to a year ago. Gross profit was up around $90,000 to $1.5 million versus gross profit of $1.4 million a year ago. For the first half of 2021, the company has a gross profit of $3 million, a $127,000 decline from last year’s $3.1 million. Healthier Choices’ net loss from operations for Q2 2021 was around $685,000 relative to $795,000 reported a year ago, reflecting a 4% YoY improvement. For the six months of the year, the company reported $1.2 million in net loss from ongoing operations compared to 41.5 million a year ago, reflecting a 17% drop.

Healthier Choices reported adjusted EBITDA of around $136,000, a 20% improvement from last year, and for the six months ending June 30, 2021, the company’s EBITDA was $177,000, a 16% improvement compared to last year.

Healthier Choices in a strong cash position to expand

Holman commented, “Our strategic vision for our company remains clear, and with our strong cash position we are excited at the prospect of utilizing a portion of the proceeds from our recent capital raise to implement our growth initiatives. The progress to date, including our solid second quarter results, gives us continued belief in our direction. Importantly, we are committed to building a nimble and scalable business model to support long-term, sustainable growth for Healthier Choices Management Corp.”

Through its subsidiary HCMC Intellectual Property Holdings LLC, Healthier Choices is planning to expand its IP portfolio.