Hapbee Technologies Inc. Closes 2024 with Record Q4 Device Sales, Global Distribution Partnerships and Strategic Board Appointments
In 2024, Hapbee executed a bold strategic reset anchored by two private placement rounds, a revitalized ambassador program, and three new additions to its Board of Directors which propelled a record surge in Q4 device shipments and revenues, marking a pivotal inflection point in the Company's commercial trajectory.
Device Sales & Revenue: Q4 marked a breakout period, with device sales revenue soaring 198% and unit shipments doubling quarter-over-quarter fueled by elevated customer engagement, improved product education, and growing brand visibility.
- Ambassador-Led Marketing: A targeted ambassador engagement strategy and high-impact digital campaigns funded by private placements in Q2 and Q3 amplified Hapbee's brand presence and ignited consumer demand across digital and social channels.
- Retail Expansion: Hapbee products are now available in 380+ Target stores nationwide and online at Target.com, reinforcing broad consumer access and strengthening the retail distribution network.
- Luxury Wellness Partnership: The launch of a collaboration with Jumeirah Group integrated Hapbee's products into premier spa wellness programs, with plans underway to expand into additional Jumeirah properties globally.
- Enhanced Sleep Solutions: Introduction of a new, entry-level Smart Sleep Membership at a more accessible price point ($10/month or $99/yr) aligned with the recently launched Smart Sleep Pad broadens the Company's sleep-wellness offering for sleep-focused consumers.
- Platform & Product Investments: Capital and resources were allocated to develop a next-generation mobile app and redesign the website, designed to deliver seamless user experiences, personalized features, and new subscription revenue channels in 2025.
- Board Strengthening: Hapbee welcomed NBA All-Star Jaylen Brown, Chief Commercial Officer Rizwan Shah, and global business leader Abdulla Al Zain to its Board of Directors, enhancing the Company's strategic guidance in product innovation and international expansion.
'Our team executed a strategic reset in Q2 to improve product experience, brand awareness, and retail accessibility,' said Yona Shtern, CEO of Hapbee. 'The Q4 results confirmed that these initiatives are yielding strong returns. We enter 2025 with significant momentum, and we look forward to the upcoming launch of our reimagined mobile app and enriched customer journey.'
About Hapbee Technologies Inc.:
Hapbee is a digital wellness technology company specializing in bio-streaming wearables designed to help people improve their sleep, focus, mood, and recovery. The company's mission is to put wellness into the hands of everyone, through accessible, science-backed, and non-invasive solutions.
The Company's financial statements and management's discussion and analysis for the period ended December 31, 2024 are available on SEDAR+ at www.sedarplus.ca and on Hapbee's investor website at investors.hapbee.com.
Learn more at www.hapbee.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking InformationForward-looking information is provided for the purpose of presenting information about management's current expectations and plans relating to the future and readers are cautioned that such statements may not be appropriate for other purposes. Forward-looking information involves significant risks and uncertainties and should not be read as a guarantee of future performance or results as actual results may differ materially from those expressed or implied in such forward-looking information. Those risks and uncertainties include, among other things, risks related to: that Hapbee will be able to complete its business objectives as anticipated; Hapbee's industry and its business, which may negatively impact, and may continue to negatively impact, Hapbee and may materially adversely affect its investments, results of operations, financial condition and Hapbee's ability to obtain additional equity or debt financing, and satisfy its financial obligations; circumstances may change resulting in the use of proceeds; general economic conditions; future growth potential; prices of its securities; liquidity; ability to access capital markets; environmental matters; and changes in legislation or regulations. Management believes that the expectations reflected in the forward-looking information contained herein are based upon reasonable assumptions and information currently available; however, management can give no assurance that actual results will be consistent with such forward-looking information.
The forward-looking information contained herein is expressly qualified in its entirety by this cautionary statement. Forward-looking information reflects management's current beliefs and is based on information currently available to Hapbee. The forward-looking information is stated as of the date of this news release and Hapbee assumes no obligation to update or revise such information to reflect new events or circumstances, except as may be required by applicable law.
Investor RelationsRenmark Financial Communications Inc.Bettina Filippone: bfilippone@renmarkfinancial.comTel: (416) 644-2020 or (514) 939-3989www.renmarkfinancial.com
Media RelationsTheory CommunicationsAndrea Hamilton: andrea@theorycomm.comwww.theorycomm.comSign in to access your portfolio
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