Company: HYEX
Filing Date: 2025-04-01
Form Type: 10-K
Source: 0001096906-25-000370
Chunk: 26

Company: HEALTHY EXTRACTS INC.
Filing Date: 2025-04-01
Form: 10-K
Item: Item 7
Chunk 26
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2023.

Revenues and Net Operating Loss

Our revenue, cost of revenue, gross profit, operating expenses, other income (expense), and net loss for the years ended December 31, 2024 and 2023 were as follows:

Year Ended
 
Year Ended

December 31,
 
December 31,

2024
 
2023

Revenue
$
3,113,279
$
2,485,866

Cost of Revenue
 
1,201,959
 
864,055

Gross Profit
 
1,911,320
 
1,621,810

Operating expenses:

General and administrative
 
2,094,469
 
3,865,654

Total operating expenses
 
2,094,469
 
3,865,654

Other income (expense)

Interest expenses, net of interest income
 
(186,252)
 
(176,948)

Change in fair value on derivative
 
(471,270)
 
(52,140)

Total other income (expense)
 
(657,522)
 
(229,088)

Net income (loss)
$
(840,671)
$
(2,472,931)

44

Revenues

We had revenues of $3,113,279 for the year ended December 31, 2024, compared to $2,485,866 for the year ended December 31, 2023, an increase of $627,413, or 25%. We expect revenue growth to increase as our direct consumer sales and marketing efforts continue to perform.

Cost of Revenue

Our cost of revenue for the year ended December 31, 2024 was $1,201,959, compared to $864,055 for the year ended December 31, 2023, an increase of $337,903, or 39%. Gross profit for the year ended December 31, 2024 was $1,911,320, compared to $1,621,810 for the year ended December 31, 2023, an increase of $289,510, or 54%.

Cost of revenue as a percentage of revenues was 39% for the year ended December 31, 2024, compared to 35% for the year ended December 31, 2023. 

General and Administrative

Our general and administrative expenses were $2,094,469 for the year ended December 31, 2024, compared to $3,865,654 for the year ended