Earth Science Tech, Inc. (ETST) with the ticker UNOV has released its latest SEC report presenting a few interesting facts and figures. The company is primarily known for its operations in the telehealth and compounding pharmaceutical sectors, offering personalized health and wellness medication services. With a focus on chronic conditions requiring regular prescriptions and continuous healthcare support, Earth Science Tech has been striving to expand its services to cater to the increasing demand.
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The recent SEC report reveals that Earth Science Tech has witnessed a significant increase in its assets and revenues.
The report shows an increase in the total assets, which went up from $60,281 in March 2021 to $974,958 in March 2022. This considerable growth can mainly be attributed to the various efforts put in by the organization to expand its services, reach more audience, and offer customer-focused services. Fascinated by the positive results, the management is aiming to devise new strategies to continue this upward growth trajectory.
Additionally, the company’s net revenues have displayed a noticeable rise as well.
The net revenues increased from $1,897,640 in 2021 to $2,076,786 in 2022, accounting for an impressive 9.45% increase. The company can majorly credit this revenue improvement to its extensive marketing campaigns that relied on social media outreach and search advertising techniques to reach its target audience efficiently.
The marketing campaign for their subsidiary Peaks played a significant role in driving traffic to the subscription plans offered on its website.
The subscription plans, aimed at offering easy and convenient access to the healthcare services required by the customers, have played a crucial role in boosting the revenues.
Earth Science Tech completed the acquisitions of RxCompound and Peaks in November 2022, both of which are playing an instrumental role in the company’s growth and expansion while enhancing its services portfolio.
The management is now focusing on newer avenues to offer customers a more comprehensive range of services, including over-the-counter (OTC) products such as supplements and topicals under the Peaks brand.
As a customer-driven healthcare organization, Earth Science Tech operates under complex healthcare laws and regulations at both state and federal levels.
The commitment to maintaining compliance and delivering unparalleled services to customers has helped the company gain a positive reputation, which is evident in its recent growth figures.
Going forward, Earth Science Tech aims to maintain its competitive edge by sticking to its customer-focused approach, expanding services, and reaching out to a wider audience.
The recent figures in their SEC report are a testament to the company’s growth and success, which is likely to continue in the future as the demand for its services increases.
Note that we may hold securities mentioned in this article. All data is based on recent SEC filings. Even though we have implemented various manual and automatic fact-checking and data acquisition processes, some incorrect information may have slipped through (false positive). Let us know if you find any inconsistencies!