SAN FRANCISCO, CA / ACCESSWIRE / November 22, 2021 / Helo Corp. (OTC PINK:HLOC) ("Helo" or the "Company), a leading developer of wearable wireless devices at the forefront of digital health and dedicated to improving wellness worldwide, is pleased to announce its third quarter 2021 results and alternative filing with OTC Markets.
- Revenue for this year to end of September, 2021 increased from the same period last year by $49.2 million or 1395% to $52.8 million. The increase in revenue was primarily due to the change in Helo Corp.'s business model providing products and services to wellness consumers worldwide under the VyvoTM brand.
- Gross profit for this year ended September 30, 2021 increased by $17.4 million to $18.2 million.
- Gross margin for this year to end of September, 2021 increased by 110 basis points to 34%, from 23% for the same period last year.
- Operating income for this year to end of September, 2021 increased to $10.7 million, from the same period last year.
- Net income for the year to end of September, 2021 increased to $9.9 million, from the same period last year.
- Total assets at the end of September, 2021 increased by $17.0 million to $23.5 million.
- The resulting positive EPS for this year to end of September, 2021 was $0.11, as compared to a negative EPS of ($0.01) for the same period last year.
Sean McVeigh, Helo's Chief Executive Officer, commented, "The significant improvments achieved this year have been generated from our continued technology advances and the change in our business model, as we sell our products and services to wellness consumers worldwide. We expect our strong growth to continue for the rest of this year, into next year and beyond as we project continued solid sales in Asia and as we open up new markets."
Fabio Galdi, Vyvo's Chief Executive Office, stated, "Our continued innovation combined with the efforts of Vyvo members and our employees has driven our impressive growth. Vyvo's position at the forefront of digital health is now well established and we look forward to building a sustainable, self-funding Digital Health Sharing Economy, where all participants prosper."
About Helo Corp.
Helo Corp. (OTC: HLOC) is a wellness technology company at the forefront of digital health and a pioneer of the Digital Health Sharing Economy. Helo uses its life watches and its proprietary bio-metrics data platform to encourage wellness-centered lifestyles, consumer data empowerment under the Vyvo TM brand and to power the self-funding, Digital Health Sharing Economy. Our Life Sensing TechnologyTM uses state-of-the-art sensors, enhanced signal processing, and algorithms to collect and process specific bio-parameters for the user and Healthtech market. We incentivize our userbase with Vyvo Utility Tokens to continuously build up our shared bio-bank through self-tracking. Our two-sided data rich platform collects health data from the users which we analyze and use AI to formulate customized and personalized user reports, user alerts and Nutrapak supplements, and our platform also presents Big Data opportunity for developers, medical research and diagnostics.
Forward Looking Statement
This news release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as may, "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates," potential and similar statements. All statements other than statements of historical fact in this press release are forward-looking statements and involve certain risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. These forward-looking statements are based on management's current expectations, assumptions, estimates and projections about the Company and the industry in which the Company operates, but involve a number of unknown risks and uncertainties. Further information regarding these and other risks is included in the Company's filings with the OTC Markets and the Securities and Exchange Commission. The Company undertakes no obligation to update forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and actual results may differ materially from the anticipated results. You are urged to consider these factors carefully in evaluating the forward-looking statements contained herein and are cautioned not to place undue reliance on such forward-looking statements, which are qualified in their entirety by these cautionary statements.
SOURCE: Helo Corp.