ELEVAI LABS, Inc. Reports Strong Preliminary Unaudited Financial Performance for Fiscal Year 2023, Highlighting Significant Revenue Growth and Expanding Global Reach
January 17 2024 - 7:30AM
ELEVAI LABS, INC., (NASDAQ: ELAB) a medical aesthetic company
specializing in physician-dispensed skincare, today announced
certain preliminary, unaudited management-prepared financial
results for the fiscal year ended December 31, 2023. These results
are based on the most current information available to management,
are unaudited, and subject to the completion of the Company’s
year-end financial reporting processes, reviews, audit, and
potential adjustments that might result.
Key Financial
Highlights:
- Total Net Revenue for 2023: Over $1.635M
representing an increase of over 113% Year-over-Year (YoY) as
compared to 2022.
- Total International Revenue: Over $213K
highlighting our expanding global footprint.
- Gross Profit Margin: Over 67.8% representing
an increase of approximately 9.5% YoY, showcasing our enhanced
operational efficiency.
- Account Growth: Over 75% growth in customer
accounts YoY, reflecting strong market trust and expanded customer
base.
Management
Commentary:
Dr. Jordan R. Plews,
Elevai’s Chief Executive Officer commented, "This year has been
transformative for Elevai. Alongside our transition to a public
company our strategic initiatives in 2023 have resulted in the
doubling of our revenue as well as increased gross margins when
compared to 2022. Our focus on the patient and doctor experience,
operational efficiency and market expansion has not only driven
this growth but also strengthened our position in the regenerative
skincare space. We are proud of our team's continued hard work and
commitment to excellence, which is demonstrated in these
preliminary results, and serves as the foundation for continued
growth.”
About ELEVAI
Labs
ELEVAI Labs, Inc.
(NASDAQ: ELAB) is a medical aesthetics company developing
cutting-edge physician-dispensed skin care applications. The
company solves unmet needs in the medical aesthetics space through
a combination of cutting-edge science-driven and next-generation
consumer applications. ELEVAI Labs develops topical aesthetic skin
care cosmetic products for the physician-dispensed market, with a
focus on leveraging a proprietary stem cell exosome technology. For
more information visit www.elevaiskincare.com.
Forward-Looking Statements
Certain statements
made in this press release are "forward-looking statements'' within
the meaning of the "safe harbor" provisions of the Private
Securities Litigation Reform Act of 1995. Forward-looking
statements may be identified using words such as "anticipate",
"believe", "expect", "estimate", "plan", "outlook", and "project"
and other similar expressions that predict or indicate future
events or trends or that are not statements of historical matters.
These forward-looking statements reflect the current analysis of
existing information and are subject to various risks and
uncertainties. As a result, caution must be exercised in relying on
forward-looking statements. Due to known and unknown risks, actual
results may differ materially from the Company’s expectations or
projections. The following factors, among others, could cause
actual results to differ materially from those described in these
forward-looking statements: (i) the failure to meet projected
research & development and production targets; (ii) changes in
applicable laws or regulations; and (iii) other risks and
uncertainties described herein, as well as those risks and
uncertainties discussed from time to time in other reports and
other public filings with the Securities and Exchange Commission
(the "SEC"). These statements are subject to uncertainties and
risks including, but not limited to, the uncertainties related to
market conditions and other factors discussed in the “Risk Factors”
section of the registration statement filed with the SEC. The
Company’s SEC filings are available publicly on the SEC’s website
at www.sec.gov. Any forward-looking statement made by us in this
press release is based only on information currently available to
the Company and speaks only as of the date on which it is made. The
Company undertakes no obligation to publicly update any
forward-looking statement, whether written or oral, that may be
made from time to time, whether because of new information, future
developments, or otherwise, except as required by law.
Media ContactBrenda BuechlerChief Marketing
Officercontact@elevailabs.com
Investor RelationsIR@elevailabs.com
Elevai Labs (NASDAQ:ELAB)
Historical Stock Chart
From May 2024 to Jun 2024
Elevai Labs (NASDAQ:ELAB)
Historical Stock Chart
From Jun 2023 to Jun 2024