Business
Helo Corp. Announces Record 2020 Results with 760% Increase to $17.2 Million Revenue and $1.9 Million Net Income for $0.04 EPS
Helo Corp. Announces Record 2020 Results with 760% Increase to $17.2 Million Revenue and $1.9 Million Net Income for $0.04 EPS.
About this update from Helo Corp.
[{"type":"text","content":"San Francisco, CA – May 19, 2021 — Helo Corp. (OTC: HLOC) (“Helo” or the “Company), a leading developer of wearable wireless devices and bio-data informed personalized products and services, dedicated to improving wellness worldwide, is pleased to announce its full year 2020 audited results and alternative filing with OTC Markets.Revenue for the full year ended December 31, 2020 increased by $15.2 million, or 760%, to $17.2 million, from $2.0 million for the year ended December 31, 2019. The increase in revenue was primarily due to the launch of its second-generation products, expanded product range and change of its business model from September 1, 2020.Gross profit for the full year ended December 31, 2020 increased by $4.7 million, or 1175%, to $5.2 million, from $0.4 million for the year ended December 31, 2019.Gross margin for the full year ended December 31, 2020 increased by 80 basis points to 29%, from 21% for the year ended December 31, 2019.Operating income for the full year ended December 31, 2020 increased $2.6 million to $1.5 million, from an operating loss of $1.1 million for the year ended December 31, 2019.Net income for the full year ended December 31, 2020 increased $2.9 million to $1.3 million, from a net loss of $1.6 million for the year ended December 31, 2019.The resulting positive EPS for the full year ended December 31, 2020 was $0.04, as compared to a negative EPS of ($0.04) for the year ended December 31, 2019.Seán McVeigh, Helo’s Chief Executive Officer, commented, “2020 was a significant year for us as we launched our second-generation devices and took action to capture more of our downstream value chain. In September, 2020 increased our range of products and services and we moved away from our traditional wholesale business model. We opened our consumer e-commerce portal and used it to convert customer referrals to sales. As seen by the upswing in the last quarter of 2020, these changes have set the stage for accelerated growth and profitability for 2021 and years to come.”Fabio Galdi, Vyvo’s Chief Executive Office, stated, “Our patented technology, recurring revenue from our digital reports and NutraPak™ sales, combined with our leadership in the Digital Health Sharing economy where our Vyvo wearers get paid for their data, ensures that we will achieve our strategic goal to build a growing community...