Mangoceuticals, Inc. reported its financial performance for the quarter ended June 30, 2024. The company saw an increase in revenue to $163,163, up from $141,237 in the same quarter the previous year, marking a 15.5% rise. This growth was attributed to intensified digital marketing efforts and recurring customer subscriptions. Cost of revenues also rose slightly to $29,665, primarily due to third-party doctor network fees and product shipping costs. Gross profit for the quarter was $69,792, a decrease from the prior year's $87,130, largely due to higher shipping costs and promotional discounts to attract new customers. Operating expenses totaled $850,704, with general and administrative expenses contributing the most at $850,704, an increase from the previous year's $567,655. The company reported a net loss of $2,390,979, slightly higher than the previous...Show More

Mangoceuticals, Inc. reported its financial performance for the quarter ended June 30, 2024. The company saw an increase in revenue to $163,163, up from $141,237 in the same quarter the previous year, marking a 15.5% rise. This growth was attributed to intensified digital marketing efforts and recurring customer subscriptions. Cost of revenues also rose slightly to $29,665, primarily due to third-party doctor network fees and product shipping costs. Gross profit for the quarter was $69,792, a decrease from the prior year's $87,130, largely due to higher shipping costs and promotional discounts to attract new customers. Operating expenses totaled $850,704, with general and administrative expenses contributing the most at $850,704, an increase from the previous year's $567,655. The company reported a net loss of $2,390,979, slightly higher than the previous year's loss of $2,284,025. Mangoceuticals continues to invest in marketing and expanding its product offerings, including men's wellness telemedicine services and products for erectile dysfunction and hair loss. The company's future plans include further technology enhancements, market expansion, and potential strategic acquisitions, contingent on securing additional funding. The financial report indicates that Mangoceuticals is focusing on growth and market penetration, despite the reported net loss.