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Earth Science Tech Inc (ETST-7.85%). has submitted its 10-Q filing for the quarterly period ended December 31, 2024.
The filing includes financial statements for the quarter, showing an increase in revenue to $7,352,635 from $3,790,112 in the same quarter the previous year. The increase is attributed to enhanced marketing efforts and the addition of sales personnel.
Cost of goods sold for the quarter was $2,265,762, representing 31% of sales, compared to 37% in the same quarter of the previous year. This decrease in cost ratio is due to operational efficiencies.
The company reported a gross profit of $5,086,873 for the quarter, compared to $2,376,698 in the previous year, with the increase attributed to higher sales volumes.
Operating expenses for the quarter increased to $4,860,647 from $2,145,667, primarily due to higher labor and marketing expenses.
Net income for the quarter was $206,411, down from $225,443 in the previous year. The decline is attributed to increased operating expenses.
Cash provided by operating activities was $2,378,347, while cash used in investing and financing activities was $1,810,891 and $742,938, respectively.
Earth Science Tech had total assets of $5,708,014 as of December 31, 2024, compared to $3,881,336 as of March 31, 2024. The increase is attributed to acquisitions and capital expenditures.
The filing also details the company's acquisition activities, including the purchase of Mister Meds and Avenvi, LLC, and outlines future acquisition plans.
Earth Science Tech continues to focus on expanding its market presence through strategic acquisitions and operational optimization of its subsidiaries.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Earth Science Tech Inc quarterly 10-Q report dated February 14, 2025. To report an error, please email earnings@qz.com.