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QHSLab Inc - Class A (USAQ-9.09%) has submitted its Form 10-K filing for the fiscal year ended December 31, 2024.
The filing details the company's operations as a medical device technology and software as a service (SaaS) company, focusing on providing primary care physicians with tools to evaluate and treat chronic diseases and provide preventive care.
QHSLab reported revenues of $2,131,926 for the year ended December 31, 2024, an increase from $1,408,995 in 2023. The increase was primarily driven by sales of Allergy Diagnostic Kits and Integrated Service Program (ISP) services.
Cost of revenues for 2024 was $774,036, resulting in a gross profit of $1,357,890, compared to $793,607 in 2023. The gross margin improved from 56.3% in 2023 to 63.7% in 2024.
Operating expenses for the year included $509,065 in sales and marketing, $276,496 in general and administrative expenses, and $294,479 in research and development.
QHSLab incurred a net loss of $259,239 in 2024, compared to a net loss of $468,362 in 2023.
The company had total current assets of $420,827 and total current liabilities of $2,407,308 as of December 31, 2024.
The company is highly leveraged, with outstanding loans and convertible notes payable totaling $1,722,401. The company is in default on certain notes and has received notices of default.
The filing discusses the risks associated with the company's business, including its dependence on additional financing and its ability to continue as a going concern.
The company continues to focus on expanding its customer base and product offerings, including additional point-of-care diagnostics and digital medicine programs.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the QHSLab Inc - Class A annual 10-K report dated March 28, 2025. To report an error, please email earnings@qz.com.