Mangoceuticals reports 1H revenue $377,258 vs. $241,959 last year

During the six months ending June 30, 2024, MangoRx’s shareholder equity increased to $13,829,445, compared to $774,754 as of December 31, 2023, reflecting an increase of 1,685%, or $13,054,691. A substantial portion of this increase is attributed to the Company’s recent acquisition of the comprehensive global patent portfolio surrounding respiratory illness and preventive care technology from Intramont Technologies in April 2024, which is currently undergoing 3rd party efficacy studies anticipated to be completed by the end of the 3rd quarter. MangoRx also reported increased gross revenues with $377,258 in revenue for the six months ended June 30, 2024, a 55.92% increase compared to $241,959, for the six months ended June 30, 2023. Gross profit reached $217,190, up 50.48% from $144,329 in the prior year period. These results reflect MangoRx’s efforts in expanding its market presence and refining its product offerings in the men’s health and wellness sector. Jacob Cohen, Co-Founder and CEO of MangoRx commented, “MangoRx continues to advance its core business segments with a focus on innovation and customer satisfaction. The Company expects further growth in the second half of the year, supported by ongoing product development and market expansion efforts and fueled by the recent launch of our newly developed Drug Enforcement Administration approved telemedicine operating system.” MangoRx is excited for the upcoming launch of its highly anticipated compounded oral dissolvable tablet GLP-1 inhibitors featuring Semaglutide and Tirzepatide for weight loss, or ‘Slim’ and ‘Trim’, respectively, as well as its recently launched hormone therapy ‘MOJO’, featuring Enclomiphene citrate and pregnenolone for the treatment of low testosterone and hormonal balance. While revenues from the sale of these products are not reflected in the most recent quarterly report, the Company anticipates the addition of these new products – along with its current product offerings – will further drive growth as the Company heads into the second half of the year and beyond.