Non-GAAP financial measures should be viewed as supplemental to, and should not be considered as alternative to, net income, operating income, and cash flow from operating activities, liquidity, or any other financial measures. A non-GAAP financial measure is a numerical measure of a company’s performance, financial position, or cash flows that either excludes or includes amounts that are not normally included or excluded in the most directly comparable measure calculated and presented in accordance with generally accepted accounting principles (GAAP). The following discussion and analysis contain a non-GAAP financial measure. TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY The following table sets forth our Condensed Consolidated Balance Sheets for the periods ended Maand December 31, 2021: HEALTHIER CHOICES MANAGEMENT CORP. See non-GAAP financial measure discussion The following table sets forth our Condensed Consolidated Statements of Operations for the three-months ended Maand 2021:ĬONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS We are committed to continue making further investments that will position us to expand market share and capitalize on the growth opportunities that we have created.” Holman concluded, “The team remains focused on driving growth and delivering sustainable improvements in profitability. Jeffrey Holman, Chairman and Chief Executive Officer of HCMC, said, “Our first quarter 2022 financial and operational performance established a very strong start to the year, with meaningful progress on our strategic priorities which we believe positions us well for another year of top-line growth.” It should be noted that over $0.52 million in non-recurring expenses were incurred during the three-month period ended March 31, 2022. The balance of the prior year variance is primarily attributable to the continued strategic downsizing of the vape segment. Net loss from operations for the three-month period ended March 31, 2022, amounted to approximately $1.32 million versus $0.7 million for the same period last year. Gross margin from operations increased by approximately $0.5 million for the three-month period ended March 31, 2022, amounting to $1.97 million, compared to $1.49 million for the same period in 2021, a 32% increase year-over-year increase.Net sales from operations for the three-month period ended March 31, 2022, amounted to $5.05 million, compared to $3.47 million, an approximately $1.6 million and 46% increase versus the same period in 2021.(OTC Pink: HCMC) today announced its financial results for the three-month period ended March 31, 2022.įirst Quarter 20 22 Results and Recent Highlights : HOLLYWOOD, FL, (GLOBE NEWSWIRE) - Healthier Choices Management Corp. Gross Margin of $2M for the Quarter 32% Year - Over-Year Growth Sales of $5M for the First Quarter 46 % Year - Over-Year Growth
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