Healthier Choices Management Corp. Reports Third Quarter 2023 Financial Results

Healthier Choices Management Corp. (HCMC) attributed their impressive sales growth to several key factors:

1. Expansion of Product Lines: They introduced new products that resonated well with their target market.
2. Increased Market Penetration: They expanded their presence in existing markets and entered new ones.
3. Strategic Partnerships: Collaborations with other companies helped boost their distribution and sales channels.
4. Enhanced Marketing Efforts: Improved marketing strategies and campaigns increased brand visibility and customer engagement.

Record Sales of $12.7 million for the Third Quarter; 120% Year-Over-Year Growth

Record Gross Margin of $4.6 million for the Quarter; 149% Year-Over-Year Growth

HOLLYWOOD, FL, Nov. 14, 2023 (GLOBE NEWSWIRE) — Healthier Choices Management Corp. (OTC Pink: HCMC) today announced its financial results for the third quarter ended September 30, 2023. Read more on this topic.

Nine-Months 2023 Results and Recent Highlights

• Net sales from operations for the nine-month period ended September 30, 2023, amounted to a record $39.8 million, compared to $17.0 million, an approximately $22.9 million increase and a record 135% increase versus the same period in 2022.
• Gross margin from operations increased by approximately $8.5 million for the nine-month period ended September 30, 2023, amounting to a record $14.6 million, compared to $6.2 million for the same period in 2022, a 137% year-over-year increase.
• Adjusted EBITDA (Loss) for the nine-month period ended September 30, 2023, amounted to approximately ($5.1) million versus ($4.2) million for the same period last year. It should be noted that over $1.3 million in non-recurring expenses were incurred during the nine-month period ended September 30, 2023.

Jeffrey Holman, Chairman and Chief Executive Officer of HCMC, said, “We are pleased with our third quarter results; we believe our long-term sales growth strategy is fast achieving traction as evidenced by the positive sales performance.”

Mr. Holman concluded, “We continue investing strategically in our natural foods’ grocery business, as evidenced by our latest acquisition of Ellwood Thompson which was completed in October. We remain disciplined in our cost management, and our team has stayed focused on achieving profitability for the business.”