The following is a summary of the BioStem Technologies, Inc. (BSEM) Q2 2024 Earnings Call Transcript:

Financial Performance:

• BioStem Technologies reported a record Q2 2024 revenue of $74.5 million, up considerably from the previous year's $1.6 million for the same period.

• Gross profit for the quarter was $70.7 million, representing 95% of revenue.

• Net income for Q2 2024 was $6.4 million, or $0.39 per share, a significant improvement from the net loss of $2.9 million, or $0.22 per share, in Q2 2023.

• Operating expenses increased due to workforce expansion and partnership fees but were balanced by strong revenue growth.

Business Progress:

• BioStem has initiated several strategic moves including plans to uplist to NASDAQ as a fully reporting entity, which is expected to enhance visibility and attract institutional investors.

• Advanced in clinical trials, specifically the IRB approved study evaluating AmnioWrap2 in diabetic foot ulcers, aimed at demonstrating efficacy and securing expanded insurance coverage.

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