QHSLab ($USAQ) Delivers Profitability, R&D Breakthroughs, and 2025 Growth Plans
As CEO at QHSLab Inc. (OTCQB: USAQ), I am proud to share our remarkable progress in 2024 and early 2025. Our mission to revolutionize digital healthcare and enhance patient outcomes has never been stronger. As we approach the release of our first quarterly report for 2025, I want to take this opportunity to reiterate our achievements and remind our shareholders and potential investors of the exciting future ahead.
Progress in Research and Development
In 2024, QHSLab’s commitment to innovation was nationally recognized. Two of our research papers, developed in collaboration with the Southern Winds Hospital Psychiatry Residency Program, were accepted for presentation at the 2025 Annual Meeting of the American Psychiatric Association (APA) in Los Angeles. These abstracts showcase the effectiveness of our digital health journeys in managing depression, anxiety, and chronic pain, with preliminary findings indicating significant reductions in symptom severity and improvements in quality of life, underscoring our leadership in mental health care innovation.
Additionally, our Digital Medicine for Allergic Rhinitis (DMAR) study, supported by a grant from a global leader in consumer health, has now reached its third milestone. With recruitment surpassing initial projections, this study demonstrates the impact of our digital tools on allergy management and improvements in quality of life, validates our approach, and positions QHSLab at the forefront of digital healthcare solutions.
Exceptional Sales and Financial Performance
Our financial results for 2024 reflect the strength of our business model and the growing market acceptance of our solutions. In October 2024, we achieved approximately $225,000 in sales, a 110% increase compared to the same period in 2023, highlighting our scalability and operational efficiency.
Our positive cash flow from operations and debt reduction efforts strengthens our balance sheet and positions us for sustained growth. For the full year 2024, we achieved record revenue growth of 51%, reaching $2.1 million. Gross margins improved to 63.7%, reflecting ongoing operational efficiencies. Most notably, we generated a positive operating income of $205,738, marking a substantial turnaround from the prior year’s operating loss of $240,158.
Strategic Initiatives Driving Future Growth
In early 2025, we entered a strategic co-marketing partnership with Town Total Compounding. We expanded our market reach to over 200 primary care practices and integrated our digital health assessments with personalized prescription therapies, offering a comprehensive approach to patient care. This non-dilutive growth strategy exemplifies our commitment to enhancing shareholder value while improving healthcare outcomes.
Furthermore, we were honored to receive an invitation from the National Science Foundation (NSF) to submit a full Phase I application for the Airway Instantaneous Regional Guided Interface for Drug Delivery Efficiency (AIR-GUIDDE) project, underscoring the transformative potential of our technology in drug delivery and opens doors to significant funding opportunities through the NSF Small Business Technology Transfer (STTR) program.
Operational Excellence
Our operational milestones speak volumes about our execution capabilities. We have completed over 140,000 digital assessments, amassing a valuable dataset that fuels our R&D efforts and provides a competitive edge.
As we continue to innovate and expand our offerings, we remain focused on delivering value to our shareholders. Our disciplined approach to fiscal management and operational efficiency has positioned us for accelerated growth in 2025 and beyond.
Market Opportunity
The global mental health and allergy-testing markets represent a combined $250 billion total addressable market. In the U.S., approximately 527,000 primary care providers serve as our addressable community, and about 263,000 are independent practices, which is our core target. QHSLab’s digital-first approach and turnkey integration make us ideally suited to capture a significant share of this underserved segment.
Competitive Positioning
QHSLab stands out from the competition with proprietary algorithms, a strong record of published research, and impactful conference presentations. Our platform delivers proven clinical results, in-depth data, and a client-focused approach—creating high barriers to entry for others in the market. While others are still defining their value proposition, we’re already generating profitable growth, forging strategic partnerships, and scaling at pace. Our roadmap accelerates innovation across algorithms, studies, and integrations—ensuring we maintain clear, sustainable leadership in digital healthcare.
Looking Ahead: A Bright Future for QHSLab
As we prepare to release our next quarterly report on May 13, I encourage our shareholders and potential investors to stay engaged with our progress. The achievements of 2024 and early 2025 are just the beginning. With a robust pipeline of new clients, an expanding portfolio of services, and a commitment to innovation, QHSLab is poised to redefine digital healthcare and deliver exceptional value to all stakeholders.
Final Word:
I am immensely proud of what we have accomplished and even more excited about the opportunities ahead. Thank you for your continued support and belief in our vision. Together, we are shaping the future of healthcare.
Troy Grogan
CEO, QHSLab Inc.