VANCOUVER, British Columbia and LAS VEGAS, May 30, 2024 (GLOBE NEWSWIRE) -- Hydreight Technologies Inc. ("Hydreight" or the "Company") (TSXV:NURS)(OTCQB:HYDTF)( FSE: SO6 ), a fast-growing mobile clinical network and medical platform which enables flexible at-home medical services across 50 states in the United States, is pleased to announce its financial results for the first quarter ended March 31, 2024. All financial information is presented in Canadian dollars unless otherwise indicated. Summary of Q1, 2024 Financial Highlights: Q1, 2024 GAAP revenue was $3.38 million an increase of 44% compared to Q1, 2023. Q1 2024 topline¹ record revenue of $4.87 million, an increase of 33% compared to Q1, 2023. Q1, 2024 gross margin of $1.23 million compared to $1.04 million in Q1, 2023. The Company has approximately 117 white-label locations nationwide, with new locations opening every month.  The company has never raised or borrowed any additional capital since the original RTO in December 2022. Adjusted EBITDA¹ has improved and projecting a path to profitability. Company's cash in hand is $1.34 million in Q1, 2024. Shane Madden, CEO of Hydreight commented, "We had an outstanding quarter with record revenue, Adjusted EBITDA¹, Adjusted revenue¹. Our investment in our technology and infrastructure in 2023 lead to become a fully automated, fully integrated, turnkey solution for mobile medicine across the board. This has already been paying off by signing up new nurses and whitelabel clients. Our focus in 2024 is to continue growing the revenue, becoming a profitable company and introducing our story to more potential shareholders." Highlights and Subsequent Events Hydreight Technologies through its associated medical network now offer Tirzepatide to Product Offering which also features GLP-1 Medications (Low-Cost Semaglutide), NAD+ and more The Company has approximately 117 white-label locations nationwide, with new locations opening every month.  Hydreight added Semaglutide to Product Offerings; Studies have shown that Semaglutide injections can be used together with diet and exercise to help control your blood sugar and help lose weight and keep the weight off. Hydreight was named one of Canada's Companies to Watch as part of the 2023 Deloitte Technology Fast 50™ program. The award highlights the Company's significant organic revenue growth of 250% year-over-year and validates the business operations and key differentiators Hydreight has in the market. Hydreight Launched NAD+ as part of its robust patient service offering on its proprietary healthcare technology platform. NAD+ or Nicotinamide Adenine Dinucleotide is a coenzyme central to metabolism which is found in all living cells and consists of two nucleotides joined through their phosphate groups. Clinical studies have suggested that NAD+ may help to improve cognitive function, energy, weight management, pain management, and may also reduce and reverse effects of aging and more. Hydreight provided a corporate update reflecting significant revenue growth and strong organic operational growth. Hydreight announced nationwide expansion of doctor network to meet demand across all 50 states across the U.S. Hydreight Partners with Ola Digital Health, an Independent, National Pharmacy Network to Provide Health and Wellness Services in Store The Company believes the following Non-GAAP1 financial measures provide meaningful insight to aid in the understanding of the Company's performance and may assist in the evaluation of the Company's business relative to that of its peers:   Three months ended March 31,       2024     2023   % change         Adjusted Revenue $ 4,867,004   $ 3,667,421     33 % Deduct - deferred business partner contract revenue   (116,978 )   (19,048 )   Deduct - business partner payouts on app service gross revenue   1,606,376     1,338,053     GAAP Revenue $ 3,377,606   $ 2,348,416     44 %