ELEVAI Labs Reports Strong Preliminary Unaudited Financials for Fiscal Year 2023
The Preliminary Figures Highlight the Company's Significant Revenue Growth and Expanding Global Reach
ELEVAI Labs (NASDAQ: ELAB) a medical aesthetic company specializing in physician-dispensed skincare, announced certain preliminary, unaudited management-prepared financial results for the fiscal year ended December 31, 2023. These results are based on the most current information available to management, are unaudited, and are subject to the completion of the Company’s year-end financial reporting processes, reviews, audit, and potential adjustments that might result.
Key Financial Highlights
Total Net Revenue for 2023: Over $1.635M representing an increase of over 113% Year-over-Year (YoY) as compared to 2022.Total International Revenue: Over $213K highlighting our expanding global footprint.Gross Profit Margin: Over 67.8% representing an increase of approximately 9.5% YoY, showcasing our enhanced operational efficiency.Account Growth: Over 75% growth in customer accounts YoY, reflecting strong market trust and expanded customer base.
Dr. Jordan R. Plews, Elevai’s Chief Executive Officer commented:
“This year has been transformative for Elevai. Alongside our transition to a public company, our strategic initiatives in 2023 have resulted in the doubling of our revenue as well as increased gross margins when compared to 2022. Our focus on the patient and doctor experience, operational efficiency and market expansion has not only driven this growth but also strengthened our position in the regenerative skincare space. We are proud of our team’s continued hard work and commitment to excellence, which is demonstrated in these preliminary results, and serves as the foundation for continued growth.”
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