Elevai Labs reported strong Q2 2024 financial results with revenue reaching $605,529, up 91% year-over-year, driven by enhanced market acceptance and international distribution growth. Gross profit increased to $439,254 with improved margins of 73%, up from 66% in Q2 2023, reflecting operational efficiencies and better supplier pricing.The company significantly expanded its biotech portfolio by acquiring two key licenses - a stem cell formulation technology and an exclusive license for engineered probiotic products targeting muscle preservation during weight loss treatments. These strategic moves position Elevai for growth in both skincare and biotechnology sectors. However, operating expenses increased to $1.85M from $1.26M last year due to expanded marketing initiatives and infrastructure investments.Despite revenue growth, the company faces liquidity challenges with cash declining to $100,034 from $3.3M at year-end 2023. Management secured $1.15M in new financing through notes issued in July 2024 and implemented cost reduction measures, including executive changes and workforce restructuring, to improve operational efficiency. The company remains focused on commercialization growth while advancing its biotechnology pipeline.

Elevai Labs reported strong Q2 2024 financial results with revenue reaching $605,529, up 91% year-over-year, driven by enhanced market acceptance and international distribution growth. Gross profit increased to $439,254 with improved margins of 73%, up from 66% in Q2 2023, reflecting operational efficiencies and better supplier pricing.The company significantly expanded its biotech portfolio by acquiring two key licenses - a stem cell formulation technology and an exclusive license for engineered probiotic products targeting muscle preservation during weight loss treatments. These strategic moves position Elevai for growth in both skincare and biotechnology sectors. However, operating expenses increased to $1.85M from $1.26M last year due to expanded marketing initiatives and infrastructure investments.Despite revenue growth, the company faces liquidity challenges with cash declining to $100,034 from $3.3M at year-end 2023. Management secured $1.15M in new financing through notes issued in July 2024 and implemented cost reduction measures, including executive changes and workforce restructuring, to improve operational efficiency. The company remains focused on commercialization growth while advancing its biotechnology pipeline.