NEW YORK, March 14, 2022 /PRNewswire/ -- Thorne HealthTech, Inc. ("Thorne HealthTech" or the "Company") (NASDAQ: THRN), a leader in developing personalized, innovative solutions to help people live healthier, longer lives, today announced its financial results for the fourth quarter and full-year ended December 31, 2021.
Fourth Quarter Highlights:
- Net sales grew 37.8% to $49.9 million, with direct-to-consumer ("DTC") sales growth of 56.1%
- Gross profit grew 47.5% to $25.7 million; gross margin of 51.5% increased 340 basis points
- Net income attributable to common stockholders of $3.3 million; adjusted EBITDA of $5.4 million
- Diluted earnings per share of $0.01; adjusted diluted earnings per share of $0.07
- Net sales grew 33.8% to $185.2 million, with DTC sales growth of 37.7%
- Gross profit grew 50.3% to $97.4 million; gross margin of 52.6% increased 580 basis points
- Net income attributable to common stockholders of $3.7 million; adjusted EBITDA of $20.6 million
- Diluted earnings per share of $0.10; adjusted diluted earnings per share of $0.27
Full-Year 2022 Outlook:
- Net sales of $240 million to $250 million; adjusted EBITDA of $30 million to $35 million; adjusted EPS of $0.28 to $0.30
"Our strong results reflect the successful execution of our strategies, which we expect to continue driving outperformance in the growing wellness market," said Paul Jacobson, Thorne HealthTech's chairman and CEO. "Our full-year growth rates of 34 percent for both net sales and adjusted EBITDA were underpinned by the expanding base of consumers and health professionals who trust our integrated platform that combines education, testing and premium supplements in a simple, personalized and engaging approach to wellness and peak performance. In addition, with our ongoing mix shift to subscriptions, expanding portfolio of science-backed solutions and marketing campaign ramp to heighten brand awareness, we are well positioned for continued momentum."