QHSLab Reports Record Revenues for Q3 2024, Indicates Strong Growth in Digital Health and Allergy Diagnostics

QHSLab, Inc. (OTCMKTS:USAQ) recently announced its financial performance for the third quarter of 2024, showcasing notable achievements in the digital health and allergy diagnostics sectors. The company reported exceptional results, including record revenues and strategic advancements, which underlined its commitment to innovation and expansion in the healthcare industry.

The press release issued by QHSLab revealed remarkable progress in the company’s financial and operational metrics. Revenue for the third quarter of 2024 saw a significant increase of over 60%, reaching $544,285 from $336,407 in the same period last year. This surge in revenue marked three consecutive quarters of growth for the company. Additionally, gross profit doubled to $365,133, reflecting a notable improvement in gross margin to 67.1% compared to 56.3% in the previous year.

Key Highlights from Q3 2024 Financial Performance:

– The Integrated Service Program (ISP) revenue witnessed a substantial 126% increase in Q3, contributing nearly $162,000. Year-to-date growth for the ISP segment reached 143%, totaling close to $450,000 compared to under $185,000 in 2023.
– Sales of Allergy Kits surged by 48% year-over-year, amounting to over $220,000 in Q3 2024. This growth was primarily driven by successful cross-selling strategies and the adoption of bundled solutions among primary care providers.
– The company demonstrated effective cost management practices, maintaining steady general, administrative, and marketing expenses. Research and Development (R&D) investment increased to nearly $187,000 for the first nine months of the year, emphasizing QHSLab’s focus on innovation and new product development.
– QHSLab achieved a milestone by completing over 100,000 digital assessments, showcasing an increased adoption of the platform for managing various chronic health conditions, including allergies, anxiety, depression, and chronic pain.

Troy Grogan, President and CEO of QHSLab, expressed enthusiasm about the company’s outstanding performance in the recent quarter. He emphasized the growing demand for the company’s digital health solutions and highlighted the importance of achieving net income and cash-flow positivity alongside significant revenue growth.

Looking ahead, QHSLab is focused on expanding its platform capabilities, forming strategic partnerships, and exploring opportunities in clinical research and personalized medicine. By leveraging its expertise in digital health innovation, the company aims to redefine population health management, enhance patient outcomes, and create sustainable long-term value for its stakeholders.

Investors and interested parties are encouraged to access QHSLab, Inc.’s detailed Form 10-Q for the period ended September 30, 2024, available on the SEC’s EDGAR database and the OTC Markets website under the stock symbol USAQ for comprehensive financial information.

For further information regarding QHSLab and its healthcare solutions, visit www.qhslab.com.

Disclaimer: This article contains forward-looking statements that involve risks and uncertainties. Actual results may vary from the estimates, projections, and forecasts mentioned in the statements. The company does not undertake any obligation to update these forward-looking statements to reflect subsequent events or circumstances.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read QHSLab’s 8K filing here.

About QHSLab

QHSLab, Inc, a medical device technology and software as a service (SaaS) company, focuses on value-based healthcare, informatics, and algorithmic personalized medicine. It develops digital therapeutics and point of care solutions to support remote patient monitoring, address chronic care, and preventive medicine.