InnerScope Hearing Technologies (OTC: INND), an emerging and disruptive leader in the over-the-counter (“OTC”) hearing aid space, today announced its unaudited financial results for the full year ended Dec. 31, 2022. Among the highlights, InnerScope reported consolidated net revenues of $15,284,327, a net profit of $5,575,892 and a positive EBITA of 36% for the 2022 full year. “This profitable year-end 2022 shows we are on the right path continuing to scale and support our growth, especially now with our success with numerous major retailers requesting to sell our products,” said Matthew Moore, CEO of InnerScope Hearing Technologies. “Our B2B strategy and the retailer relationships we built over the last year created strong momentum that will continue through 2023 and beyond. With only a hand full of competitors in this new emerging OTC hearing aid market, we are confident that we can continue to deliver our high-quality affordable OTC hearing aids to the ever-growing demand from all the retailers.”
To view the full press release, visit https://ibn.fm/L1ZK6
About InnerScope Hearing Technologies Inc.
InnerScope is a manufacturer and distributor of OTC hearing aids, hearing aid accessories and hearing health-related products (“hearing products”) dedicated to addressing the global demand for affordable hearing solutions. InnerScope, with its B2B business distribution model offering affordable OTC hearing products through major retailers, pharmacy chains and healthcare service companies, breaks through the barriers that prevent access to effective and affordable hearing solutions. In September 2021, InnerScope acquired iHear Medical Inc., a direct-to-consumer (“DTC”) cloud-based hearing solution provider, which provided access to over 40 patents, an R&D facility and a team of engineers. In addition, InnerScope, in November 2021, acquired HearingAssist, an established leader since 2008 in the DTC hearing aid market, with a customer base of over 400,000. These acquisitions, combined with a partnership with Atlazo Inc., a semiconductor innovator for next-generation AI smart devices, will allow InnerScope to better position itself in the OTC hearing aid market by selling advanced and affordable hearing products through Walmart and many other major retailers and pharmacy chains. For the most up-to-date information about InnerScope, please visit and follow its official Twitter account @inndstock page: https://twitter.com/inndstock.
NOTE TO INVESTORS: The latest news and updates relating to INND are available in the company’s newsroom at https://ibn.fm/INND
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