HealthWarehouse.com Reports Results for First Quarter 2025
"We continued the momentum that started last year as we achieved record sales and prescriptions processed. We also had our second consecutive quarterly net profit, proving the economic scalability of our business model." Joseph Peters, President and CEO
Share
HealthWarehouse.com, a technology company with a focus on healthcare e-commerce, sells and delivers prescription and over-the-counter medications to all 50 states as an Approved Digital Pharmacy through the National Association of Boards of Pharmacy (NABP). HealthWarehouse.com provides a platform focused on increasing access to and reducing costs of healthcare products for consumers and business partners nationwide.
Joseph Peters, President and CEO, commented, 'We continued the momentum that started last year as we achieved record sales and prescriptions processed. We also had our second consecutive quarterly net profit, proving the economic scalability of our business model. We have established ourselves as a reliable service provider for high volume partners and we have shown our expertise in processing orders that require cold-chain shipping services.'
HealthWarehouse.com continues to invest in proprietary technology to remain at the forefront of new developments and offerings in the world of healthcare, focusing on patient experience, operational efficiency, and scalability.
'Our employees are equally proud of what we have accomplished, and I continue to be amazed at their capabilities and dedication. I am grateful for their efforts as they continue to provide world class service to our customers,' added Peters.
2025 First Quarter Overview:
Net Sales:
Net sales for the three months ended March 31, 2025, increased to $15.0 million from $5.1 million for the three months ended March 31, 2024, an increase of $9.9 million or 193.6%. Prescription sales were $14.4 million for the three months ended March 31, 2025, compared with $4.4 million for the three months ended March 31, 2024, an increase of $10.0 million, or 226.5%. These increases were primarily due to growth in our partner services (B2B) business related to fulfillment of brand and compounded GLP-1 medications. Sales for the direct-to-consumer (B2C) prescription business were down $722,000 or 25.7% from 2024. Our reduced advertising spending resulted in lower sales of branded and generic prescription products for the quarter. Net sales of over-the-counter products decreased by $78,000 or 12.4% from $630,000 in the three months ended March 31, 2024 to $552,000 in the three months ended March 31, 2025, primarily due to reductions in sales for both direct-to-consumer (B2C) and partner services business (B2B).
Gross Profit:
Gross profit for the three months ended March 31, 2025, increased $1.6 million or 53.5% to $4.5 million versus the same period in 2024, as a result of the growth in prescription sales. Gross margin percentage decreased from 57.8% for the three months ended March 31, 2024, to 30.2% for the three months ended March 31, 2025. Margins decreased in the B2B prescription business due to growth in brand and compounded GLP-1 medication sales, which have higher costs and lower gross margins due to market competition.
Operating Expenses:
Selling, general and administrative expenses increased $1.1 million, or 36.5%, to $4.3 million for the three months ended March 31, 2025, compared with $3.1 million for the three months ended March 31, 2024. For the three months ended March 31, 2025, expense increases included an $872,000 increase in shipping and shipping supplies expenses, and a $145,000 increase in salaries expense, primarily related to higher direct pharmacy labor, software engineering and business development salaries.
Net Income (Loss) and Adjusted EBITDA: Net income was $178,000 for the first quarter of 2025, compared with a net loss of $252,000 during the same period in 2024. Adjusted EBITDA was $521,000 in the first quarter of 2025, compared with $90,000 in the year-earlier quarter.
Use of Non-GAAP Financial Measures
HealthWarehouse.com, Inc. (the "Company") prepares its consolidated financial statements in accordance with the United States generally accepted accounting principles ("GAAP"). In addition to disclosing financial results prepared in accordance with GAAP, the Company discloses information regarding EBITDA and Adjusted EBITDA, which are commonly used. In addition to adjusting net income or net loss to exclude interest, taxes, depreciation and amortization, including amortization of right of use lease asset, ('EBITDA'), Adjusted EBITDA also excludes stock-based compensation, and certain nonrecurring charges. EBITDA and Adjusted EBITDA are not measures of performance defined in accordance with GAAP. However, Adjusted EBITDA is used internally in planning and evaluating the Company's performance. Accordingly, management believes that disclosure of this metric offers lenders and other shareholders an additional view of the Company operations that, when coupled with GAAP results, provides a more complete understanding of the Company's financial results.
Adjusted EBITDA should not be considered as an alternative to net income, net loss or to net cash provided by or used in operating activities as a measure of operating results or of liquidity. It may not be comparable to similarly titled measures used by other companies, and it excludes financial information that some may consider important in evaluating the Company performance.
Reconciliation of Net Loss (GAAP) to Adjusted EBITDA (Non-GAAP)
Three Months Ended
March 31,
2025
2024
In thousands
Net income (loss)
$
178
$
(252
)
Interest expense
23
75
Income tax expense
62
-
Depreciation and amortization
86
80
EBITDA (non-GAAP)
349
(97
)
Adjustments to EBITDA:
Stock-based compensation
172
187
Adjusted EBITDA
$
521
$
90
Expand
About HealthWarehouse.com
HealthWarehouse.com, Inc. (OTCQB: HEWA), a technology company with a focus on healthcare e-commerce, sells and delivers prescription and over-the-counter medications to all 50 states as an Approved Digital Pharmacy through the National Association of Boards of Pharmacy ('NABP'). HealthWarehouse.com provides a platform focused on increasing access and reducing costs of healthcare products for consumers and business partners nationwide. Based in Florence, Kentucky, the Company operates America's Leading Online Pharmacy and is a pioneer in affordable healthcare. As one of the first National Association of Boards of Pharmacy Approved Digital Pharmacies, HealthWarehouse.com services the mission of providing affordable healthcare and incredible patient services to help Americans. Learn more at www.HealthWarehouse.com
Forward-Looking Statements
This announcement and the information incorporated by reference herein contain 'forward-looking statements' as defined in federal securities laws, including but not limited to Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and the Private Securities Litigation Reform Act of 1995, which statements are based on our current expectations, estimates, forecasts and projections. Statements that are not historical facts, including statements about the beliefs, expectations and future plans and strategies of the Company, are forward-looking statements. Actual results may differ materially from those expressed in forward looking statements or in management's expectations. Important factors which could cause or contribute to actual results being materially and adversely different from those described or implied by forward looking statements include, among others, risks related to competition, management of growth, access to sufficient capital to fund our business and our growth, new products, services and technologies, potential fluctuations in operating results, international expansion, outcomes of legal proceedings and claims, fulfillment center optimization, seasonality, commercial agreements, acquisitions and strategic transactions, foreign exchange rates, system interruption, cyber-attacks, access to sufficient inventory, government regulation and taxation and fraud. More information about factors that potentially could affect HealthWarehouse.com's financial results is included in HealthWarehouse.com's audited Annual Reports and Quarterly Reports available at otcmarkets.com and prior filings with the Securities and Exchange Commission.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Business Insider
3 hours ago
- Business Insider
Consulting is changing. Here are 4 unlikely ways the Big Four are reinventing themselves to seem less 'stodgy.'
This year, Deloitte became the first of the Big Four consulting and accountancy firms to launch a satellite into space. No, really. You may know Deloitte, EY, PwC, and KPMG for consulting, accounting, audit, and tax, which embed them in some of the world's biggest organizations and generate billions in annual revenue for each firm. But space, advertising, and venture capital are among the buzzier projects they've been developing. These ventures are a way for the companies to show they are adapting to industry changes, Tom Rodenhauser, managing director of the consulting industry research firm Kennedy Intelligence, told Business Insider. They "demonstrate their innovation and creativity" while distancing the Big Four from their "stodgy audit reputation," he added. They also boost their profiles and serve as a recruitment tool, he said. The initiatives also bring consulting arms closer to tech companies and AI innovators, Rodenhauser said, as the firms pin their future success on the technology. "I do expect more of these as consulting becomes even more technical," he added. Here are some Big Four's ventures that may not come to mind when you picture accountants and consultants. EY Studio+ Your creative ad campaign isn't typically led by a team of corporate suits, but EY has acquired 37 agencies and firms specializing in design, marketing, and customer experience since 2014. In June, it announced that it was launching a business unit focused on marketing and sales, called EY Studio+. The division launched with 7,000 employees, and EY said it plans to expand it by 10% to 20% in the following year. EY was playing catch-up with rivals Deloitte, which has offered marketing solutions through Deloitte Digital since 2012, and Accenture, which created Accenture Song in 2022. EY Studio+ offers design, marketing, sales, customer service, and customer technology services. Its website features case studies that set out how it can advise clients on the back-office systems and strategies of marketing departments — as with its existing consulting work — but also take the lead in designing customer experiences. Laurence Buchanan, global leader of EY Studio+, told Business Insider, that they were targeting chief marketing officers who were "under increasing pressure to re-imagine their customer experience and business models" because of AI. When it launched the studio, EY said that the new unit marks "a significant milestone" in CEO Janet Truncale's"All in" strategy to reshape the firm to tackle client "issues that are more complex and inter-connected than ever before." Deloitte-1 Satellite Deloitte — the largest of the Big Four, by annual revenue and employee numbers — has had a space division since April 2023 and launched a satellite in March in collaboration with SpaceX and Spire, a space data company. "We're driving space-enabled innovation and shaping what's possible for industries both on and off this planet," Jason Girzadas, CEO of Deloitte US, said in a LinkedIn post. In July, Deloitte announced that it had built and installed a cyber defense system on its satellite, called "silent shield." Brett Loubert, leader of Deloitte's US space practice, said it would help clients protect their space-based assets and "understand and manage the risks to their missions, strengthen their cyber resiliency and protect against evolving cyber threats." KPMG and Hippocratic AI Like the rest of the Big Four, KPMG has long had healthcare organizations among its advisory clients, but it's recently moved to direct collaborations with healthtech companies. The industry is booming, and in July, KPMG announced it was working with Hippocratic AI to deploy teams of medical AI agents. The AI agents are designed to address backlogs in healthcare systems by conducting "non-diagnostic patient-facing clinical tasks," KPMG said in a press release. Hippocratic AI developed the agents, while KPMG's role is to analyse and improve operations, upskill care professionals, and plan for the expansion of AI "across the entire care continuum." PwC Raise | Ventures PwC has three core lines of business — assurance, advisory, and tax. But the firm has also developed its own venture capital division called PwC Raise | Ventures, which operates in the UK. Raise | Ventures supports rapidly growing startups seeking Series A funding as well as larger businesses looking for further investment to grow, per PwC's website. An online guide says it can help founders improve pitch decks, introduce them to a network of investors, and help with due diligence. Its website tells prospective clients that working with PwC Raise | Ventures will "increase the probability of achieving a successful fundraise on good terms."
Los Angeles Times
4 hours ago
- Los Angeles Times
D.Law Named to Inc.'s 2025 Best Workplaces List
The annual list recognizes the businesses that set the standard for workplace success and awards excellence in company culture is proud to announce it has been named to Inc.'s 2025 Best Workplaces list, honoring companies that have built exceptional workplaces and vibrant cultures that support their teams and businesses. This year's list, featured on is the result of comprehensive measurement and evaluation of American companies that have excelled in creating exceptional workplaces and company cultures – whether inperson or remote. The award process involved a detailed employee survey conducted by Quantum Workplace, covering critical elements such as management effectiveness, perks, professional development and overall company culture. Each company's benefits were also audited to determine overall score and ranking. is honored to be included among the 514 companies recognized this year. 'At we believe our people are the heartbeat of everything we do. From professional growth opportunities to team celebrations and community involvement, we're committed to cultivating a workplace where everyone feels empowered, supported, and inspired to do their best work,' said Emil Davtyan, founder and managing attorney. 'Being named one of Inc.'s Best Workplaces confirms that our focus on people-first culture makes a meaningful difference. We're proud to be part of a new generation of firms that are redefining what it means to be in this profession.' Founded in 2015, is a purpose-driven law firm focused on providing compassionate, effective legal services to clients across California. With a team-oriented approach and an emphasis on continuous learning, has quickly built a reputation for both its client service and its inclusive internal culture. The firm is part of a growing movement to redefine what it means to be an employment law firm by putting people, empathy and impact at the center of everything it does. 'Inc.'s Best Workplaces program celebrates the exceptional organizations whose workplace cultures address their employees' welfare and needs in meaningful ways,' says Bonny Ghosh, editorial director at Inc. 'As companies expand and adapt to changing economic forces, maintaining such a culture is no small feat. Yet these honorees have not only achieved it – they continue to elevate the employee experience through thoughtful benefits, engagement, and a deep commitment to their teams. is an employment law firm dedicated to defending the rights of workers under California employment law. Based in Los Angeles with offices throughout the state, represents workers in every industry, whether they work for large corporations or small companies. specializes in the full range of employment law, including wrongful termination, pay and overtime issues, discrimination and harassment, workplace retaliation, leaves of absence and more. attorneys have over 350 years of collective experience in employment law and have helped over 150,000 workers get more than $1.5 billion in settlements.
Business Insider
10 hours ago
- Business Insider
Inside BYD's plan to rule the waves
Elon Musk had a problem. As Tesla struggled to ramp up sales in October 2022, it faced a critical shortage of ships to deliver its EVs. "There weren't enough boats, there weren't enough trains, there weren't enough car carriers," Musk told investors, after Tesla announced it had delivered tens of thousands of cars fewer than it made over the previous quarter. As Tesla struggled, its biggest Chinese rival devised a novel solution. BYD, which is on course to surpass Tesla this year as the world's top seller of EVs, decided in 2022 to build a fleet of seven giant ships, each capable of carrying thousands of cars. Unlike most of its Western rivals, which typically buy space on car carriers operated by shipping companies, BYD has cut out the intermediary as it doubles down on ambitious plans to sell half its cars outside China by 2030. Six of BYD's giant ships, which are emblazoned with the company's livery and a striking red and white color scheme, have entered service in the past year. Data obtained by Business Insider from ship tracking and maritime analytics provider MarineTraffic shows how the Chinese carmaker is using this fleet to drive an unprecedented international expansion, flooding ports in Europe, Brazil, and Mexico as it takes the fight to Tesla and overtakes legacy automakers. BYD's first ship set sail in January 2024, when the BYD Explorer No.1 — a 200-meter-long, 13-deck, roll-on roll-off behemoth — went into service. In July, the Zhengzhou, which can carry up to 7,000 vehicles, became the seventh vessel to join the fleet. The largest ship in BYD's armada, the Shenzhen, has a capacity of over 9,000 vehicles, making it one of the world's largest car-carrying vessels. The massive ships have been busy. After launching, Explorer No.1 immediately began a 41-day voyage to Europe, the first of three separate trips there in 2024. Explorer No.1 has also made three voyages to Brazil since May 2024. In May this year, it docked in the Brazilian port of Portocel in its second visit in four months, with two other BYD ships, the Hefei and the Shenzhen, also arriving in Brazil in April and May. All three arrived fully laden and left empty as BYD raced to deliver its vehicles to Brazil ahead of a planned EV tariff rise in July. The voyages to Europe and Brazil coincide with BYD's sales surging in both markets. BYD, which did not respond to a request for comment for this story, sold just 2,500 vehicles in Brazil in the first half of 2023. It's sold over 56,000 vehicles there so far this year, per data from Brazil's National Federation of Automotive Vehicle Distribution. That's more than Nissan, Renault, and Ford, and it has seen BYD take a dominant position in one of the world's fastest-growing EV markets. In Europe, BYD's sales in the first half of the year were more than 300% higher than over the same period in 2024. The Chinese carmaker sold more pure battery-electric vehicles than Musk's automaker in Europe for the first time in April, and its global EV sales have outpaced Tesla's for the past three quarters. Stian Omli, a senior vice president at logistics intelligence firm Esgian, told Business Insider that BYD was essentially operating a "shuttle service" between its production hubs in China and key ports in Europe and Brazil. BYD's strategy is shaking up the car shipping industry, which has been dominated historically by a handful of established shipping companies that usually plan and invest on cycles of a decade or longer. Companies like Norwegian logistics giant Wallenius Wilhelmsen and Japanese firm NYK Line sell space aboard their ships to multiple companies, then try to stop at as many ports as possible and pick up cargo for the return voyages. But Omli said BYD's strategy was to go direct, dump a massive number of EVs at one or two destination ports, and often return to China empty. "Just like they have changed the competitive landscape when it comes to cars, the Chinese are also changing the competitive landscape when it comes to the car carriers," Omli said. China's brutal EV market forces BYD to go global Stephen Dyer, managing director at auto consultancy AlixPartners, told Business Insider that the Chinese EV industry's drive to expand overseas is driven by a "never-ending" price war at home, as over 100 EV brands fight it out in the world's most brutally competitive car market. "If you can succeed outside China, you gain credibility with your core market consumers in China," said Dyer. BYD could do with a boost. In July, the automaker's sales fell for the first time this year, putting its target of selling 5.5 million cars in 2025 at risk. BYD's decision to operate its own ships had its roots in a post-COVID supply crunch between 2021 and 2023, when high demand combined with a shortage of specialised car carriers. This crunch sent the price of one car carrier for a yearlong charter soaring as high as $125,000 per day, far above the typical pre-COVID high of around $25,000, Omli said. This is what made Musk rage and prompted BYD to embark on its radical strategy just as it was beginning to enter international markets in earnest. BYD's setup allows the company to avoid being caught out if prices soar again, Omli said, and also gives it more flexibility to send its cars where and when it wants. Control over its supply chain is a key part of BYD's formula for building EVs quicker and cheaper than its rivals. The company manufactures almost all of its own parts. Executive vice president Stella Li previously said that the tires and windows of BYD's Dolphin hatchback were the only parts not made in-house. "Developing your own component suppliers gives BYD not only some cost leverage over other suppliers, but also the flexibility to do things much faster," Dyer said. "When you have your own fleet, it's the same idea. It allows you to do things quickly and flexibly. You can divert them to anywhere that you want to go, even part of the way on the voyage. You're assured of supply," he added. A costly gambit BYD is not the only Chinese EV company to dabble in deep-sea shipping. Rivals such as SAIC Motors have built even larger fleets, and Omli estimated the share of the global deep-sea car carrier fleet controlled by Chinese companies will rise from 10-15% to as much as 25% in the next few years. It's a hefty investment. Omli estimated that building the first four ships in its fleet cost BYD around $500 million, with such ships typically costing between $100 and $130 million each to build. BYD's fleet shows no signs of slowing down. The automaker's monthly vehicle exports in July were nearly three times higher than a year ago, per company figures, and its vessels have made six voyages to Europe so far this year. Recently, BYD's fleet has deployed its "shuttle service" strategy in Mexico. The 200-meter-long Changzhou became the first BYD vessel to arrive in the country in June, before criss-crossing the Pacific and returning with another load a month later. The Explorer No.1 has just made the same journey, docking at the Mexican port of Lazaro Cardenas on 14 August. BYD recently abandoned plans to build a factory in Mexico, but the company's EVs are still in high demand there. Executives say they expect sales to double this year. Data from Esgian shows that the four BYD vessels it tracks — The Explorer No.1, Shenzhen, Hefei, and Changzhou — have visited the Mexican ports of Mazatlan and Lararo Cardenas, along with Portocel, more than any other ports outside Asia this year. No risk, no reward While BYD's shipbuilding surge has given the company the flexibility to export its EVs at unprecedented volume, the strategy has risks. The company and its Chinese rivals have shipped so many vehicles to Europe over the past two years that it has put shipping infrastructure under pressure and turned some ports into giant parking lots. Germany-based auto analyst Matthias Schmidt told Business Insider that most of BYD's sales in Europe were to companies and dealerships, rather than consumers. Schmidt said he believed BYD's strategy was to flood the market through corporate channels and build enough momentum to become a recognisable brand for European consumers. The shipping supply crunch that pushed BYD to build its fleet has now mostly abated. A wave of car-carrying ships has been launched in the past two years, easing the shortage and bringing prices down to around $50,000 per day for one car carrier on a one-year charter, with Omli estimating they will probably fall to around $30,000. With shipping via external carriers a more affordable option, Schmidt said BYD now has to justify the massive costs of running its own fleet by exporting more vehicles. "That's probably partly behind the high number of vehicles coming to Europe right now. They need to ship those vessels relatively full to maximise utilisation," Schmidt added. Alexander Brown, a senior analyst at the Berlin-based Mercator Institute for China Studies, said that "a lot has changed" since BYD went all in on its own ships three years ago. Since then, Western economies have raised trade barriers to protect their own auto industries from Chinese carmakers, and the Trump administration has set about reordering global trade with tariffs. With this protectionism in mind, BYD has another big investment: factories. It recently began production at its new factory in Brazil, on the site of a plant Ford closed in 2021 after years of poor sales and big losses, ending a century of Ford production in the country. The Detroit automaker also shut down multiple plants in Europe, and Chinese automakers are now filling that gap. BYD is building production sites for the European market in Hungary and Turkey. Brown added that, if BYD had known how much tariffs would rise after going all in on cargo ships, "they may have done things a little bit differently." Graphics by Jinpeng Li.
