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KITS Eyecare Reports Preliminary Second Quarter 2024 Results

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Q2 Revenue Grew 25% YOY to Approximately $37.5 million
Q2 Adjusted EBITDA Improved to over 3% of Revenue
Cash Position Remains Strong at over $19.0 Million

VANCOUVER, BC, July 3, 2024 /CNW/ – KITS Eyecare Ltd. (TSX: KITS) (“KITS” or the “Company”), the leading vertically integrated eyecare provider, is providing selected preliminary unaudited results for its second quarter ended June 30, 2024.

Select Preliminary Second Quarter 2024 Financial Highlights

Total revenue grew 25% year-over-year to approximately $37.5 millionAdjusted EBITDA increased year-over-year to over 3% of Revenue.Finished the quarter with a healthy cash balance over $19.0 million.

“We are delighted to share another record quarter for the KITS business, including our seventh consecutive quarter of positive adjusted EBITDA and revenue growth at over 5x the industry average,” said Roger Hardy, Co-Founder and CEO of KITS. “Leading the way was our glasses business. Growth continued to be fueled by customers sharing their experiences with friends and family about the truly better way to buy eyewear and see the world.” 

The Company looks forward to reporting its full second quarter 2024 results in early August 2024. Details for the second quarter 2024 conference call will be disclosed in the coming weeks.

About KITS
KITS makes eyecare easy. KITS is a leading vertically integrated digital eyecare brand providing eyewear for eyes everywhere. We offer customers access to a vast selection of contact lenses and eyeglasses, including our own exclusive KITS designed products, as well as a robust suite of online vision tools. Our efficient digital platform, backed by our industry-leading manufacturing and designs, removes intermediaries, and enables us to offer great prices and deliver made to order personalized products with incredible care and accuracy. We are creating disruption in the industry by constantly pursuing cutting-edge technologies to enable the best customer experience, including online eyewear fitting tools, and virtual try-on for glasses. We strive to delight our customers with our competitive prices, a convenient digital shopping experience, fast and reliable delivery options, and an unrelenting focus on earning our customers’ lifelong trust. For more information on KITS, visit: www.kits.com.

Forward-Looking Statements
This press release contains forward-looking statements, including statements relating to the execution of our proposed strategy, our operating performance and prospects for the business. These forward-looking statements generally can be identified by the use of words such as “intend,” “believe,” “could,” “continue,” “expect,” “estimate,” “forecast,” “may,” “potential,” “project,” “plan,” “would,” “will,” and other words of similar meaning. Each forward-looking statement contained in this press release is subject to risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such a statement. Our business is subject to substantial risks and uncertainties. This forward-looking information and other forward-looking information are based on our opinions, estimates and assumptions in light of our experience and perception of historical trends, current conditions and expected future developments, as well as other factors that we currently believe are appropriate and reasonable in the circumstances. Despite a careful process to prepare and review the forward-looking information, there can be no assurance that the underlying opinions, estimates and assumptions will prove to be correct. Certain assumptions in respect of the expansion and enhancement of our optical laboratory for glasses and warehouse facilities; the growth of our business and launch of new technologies; our ability to drive sales growth; our ability to maintain, enhance, and grow within our addressable market; our ability to drive ongoing development and innovation of our exclusive brands and product categories; our ability to continue directly sourcing from third party suppliers and manufacturers; our ability to retain key personnel; our ability to add, maintain and expand production, distribution and fulfillment capabilities; our ability to continue investing in infrastructure to support our growth; our ability to obtain and maintain existing financing on acceptable terms; currency exchange and interest rates; the impact of competition; the changes and trends in our industry or the global economy; and the changes in laws, rules, regulations, and global standards are material factors made in preparing forward-looking information and management’s expectations. KITS’ risks and uncertainties are discussed in detail in the company’s Annual Information Form, filed on SEDAR on March 6, 2024. Investors, potential investors, and others should give careful consideration to these risks and uncertainties. We caution investors not to rely on the forward-looking statements contained in this press release when making an investment decision in our securities. The forward-looking statements in this press release speak only as of the date of this release, and we undertake no obligation to update or revise any of these statements, except as required under applicable securities laws. If we do update certain forward-looking information, no inference should be made that we will further update such or other forward-looking information.

 

SOURCE KITS

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AB DAO Partners with AB Charity Foundation

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Building a Trustworthy Infrastructure, Advancing Global Philanthropy Through Technology

DUBLIN, May 11, 2025 /PRNewswire/ — On May 8, 2025, AB DAO and the AB Charity Foundation jointly hosted the inaugural “Technology-Driven Philanthropy Closed-Door Forum” in Dublin, Ireland.

The forum was chaired by H.E. Bertie Ahern, Chairman of the AB Charity Foundation, former Prime Minister of Ireland, and former President of the European Commission. He delivered a keynote speech titled “Technology and Trust – A New Order for Philanthropy.”

Distinguished attendees included H.E. Olusegun Obasanjo, former President of Nigeria and former Chairperson of the African Union, as well as Mr. Malcolm Byrne, Member of the Irish Parliament and Chairman of the Committee on Artificial Intelligence. The forum featured deep discussions on how emerging technologies can empower global welfare systems.

Anthony Tsang, representing AB Chain, presented the latest technical developments, including the high-performance mainnet, cross-chain protocol AB Connect, and the gas-free transaction protocol Universal Transfer. These innovations reflect AB DAO’s vision of building a globally compliant blockchain infrastructure dedicated to philanthropy.

Key proposals from the forum will be compiled by the AB Charity Foundation and submitted to the United Nations and global partner networks to further promote the global practice of “technology for good.”

About the AB Charity Foundation

The AB Charity Foundation is a legally registered international NGO in Ireland with full legal status under EU law. Supported by AB DAO in both funding and technology, the foundation is committed to building a transparent and traceable global philanthropic infrastructure using blockchain and artificial intelligence technologies.

For more information, please visit: www.ab.org

View original content to download multimedia:https://www.prnewswire.com/news-releases/ab-dao-partners-with-ab-charity-foundation-302451775.html

SOURCE AB Foundation

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Miracle-48 Launches in the U.S., Bringing Regenerative Skincare to the Forefront

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Beauty-Stem debuted Miracle-48™ in the U.S., featuring a patented microsphere delivery system and exosome-derived extraction. The launch event included a live performance and testimonial by actress Victoria Summer, who praised the product’s visible skin-renewing effects. Experts call it a breakthrough in medical-grade anti-aging skincare, as the brand begins its global expansion starting with the U.S. market.

LOS ANGELES, May 11, 2025 /PRNewswire-PRWeb/ — Beauty-Stem Biomedical, a biotech-driven beauty and wellness company, officially unveiled its flagship product Miracle-48™ at a high-profile brand event held in Southern California. Attended by leaders from the business, medical, and philanthropic sectors, the evening marked a significant milestone for the brand’s U.S. expansion and showcased its latest innovation in skin rejuvenation.

A Science-Based Breakthrough Years in the Making

Developed by an international R&D team led by Dr. Chai-Ching Lin, President of Power-Stem Biomedical, Miracle-48™ is the result of years of cross-disciplinary research and clinical testing. The formula blends regenerative science with modern skincare, powered by a patented microsphere delivery system that precisely carries and releases exosome-derived extraction deep into the skin’s layers.

Each milliliter contains over 100,000 microspheres and 800 million active factors, delivering 48 skin-revitalizing ingredients that help reduce fine lines, dullness, and sagging—kickstarting the skin’s natural renewal process.

Victoria Summer‘s Testimonial and Performance

International actress and singer Victoria Summer, fresh off a Best Supporting Actress win at Portugal’s FARO International Film Festival, lit up the launch with a heartfelt live performance. She also shared her personal experience using Miracle-48™, saying it made a visible difference in her skin.

“In just two months, my skin looked smoother, firmer, and more radiant,” said Victoria. “It brought back a youthful glow—and my confidence too.”

Inspired by Beauty-Stem‘s mission, she now serves as the brand’s global ambassador, supporting its message of natural beauty and wellness from the inside out.

A Promising Contender in the High-End Skincare Market

With demand growing for high-performance skincare backed by science, Miracle-48™ hits the U.S. at the right moment. “This isn’t your average moisturizer,” said Dr. Sahar Lashin, MD, PhD, founder of IntegrUtopia. “It brings medical-grade technology into daily routines—and raises the bar for what skincare can do.”

Doctors, beauty experts, and media at the event called it a “game-changer” in anti-aging, with some describing it as a modern-day fountain of youth.

Global Strategy, Local Impact

The Los Angeles launch was more than just a product reveal—it marked the first major step in Beauty-Stem‘s global growth strategy. With North America as a key market, the brand plans to build its presence through continued innovation and strategic partnerships in regenerative skincare.

Beauty-Stem remains committed to delivering high-efficacy, science-backed solutions that support both beauty and long-term skin health for customers worldwide.

Media Contact

Customer Service, Beauty-Stem Biomedical US, 1 888-341-7505, Service.us@beauty-stem.com, https://beauty-stem.com/us/index.php

View original content:https://www.prweb.com/releases/miracle-48-launches-in-the-us-bringing-regenerative-skincare-to-the-forefront-302451611.html

SOURCE Beauty-Stem Biomedical US

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Beijing Review: 50 Years of Growing Partnership

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BEIJING, May 11, 2025 /PRNewswire/ — On May 6, 1975, China and the European Economic Community, the predecessor to today’s European Union, established diplomatic relations. This historic moment opened a new chapter of friendship and cooperation.

 

Over the past half a century, both sides have championed multilateralism, deepened collaboration and achieved mutually beneficial outcomes. Their enduring efforts have played a constructive role in advancing global peace and development. A healthy and stable partnership not only serves their interests, but also helps shape a better world.

“The wise find common ground; the unwise dwell on differences.” This slightly adapted line from the earliest known text on Chinese medicine, The Yellow Emperor’s Inner Canon, reflects the spirit of cooperation between the two sides across decades and offers a guiding vision for the future.

In March 2014, shortly before his state visit to Belgium and visit to the EU headquarters, President Xi Jinping cited this ancient Chinese quote in his article published in Belgian newspaper Le Soir. The sentence emphasizes that wise people focus on shared values and embrace diversity to achieve mutual benefit; whereas the unwise amplify differences, foment conflict and invite failure.

Through this quote, Xi conveyed his hope that China and the EU will respect each other, treat each other as equals, seek common ground while respecting differences, deepen communication and stay committed to mutually beneficial cooperation. He called for finding the greatest common interests, sharing opportunities and jointly tackling challenges.

Given their differences in history and culture, social institutions and stages of development, it is only natural for China and the EU to have varying perspectives, and even disagreements, on certain issues. Like-mindedness makes for partnership, and seeking common ground while respecting differences is also a feature of partnership.

Both past experiences and present realities have shown that as long as both sides adhere to mutual respect, treat each other as equals and engage in candid dialogue, differences cannot stand in the way of dialogue, nor can disagreements impede collaboration.

To date, China and the EU have established over 70 consultation and dialogue mechanisms, covering a broad spectrum of sectors including politics, economy and trade, people-to-people exchange, science and technology, energy and the environment.

Bilateral trade expanded from just over $2.4 billion in 1975 to over $780 billion in 2024. Two-way investment, once negligible, surged to nearly $260 billion. Since its launch in 2011, the China-Europe Railway Express, dubbed the “steel camel caravan,” has reached 227 cities across 25 European countries, completing over 100,000 freight trips, and become a key link between Asia and Europe.

Throughout history, both Chinese and European civilizations have made lasting impacts on the progress of humanity. In recent years, exchanges in education, science and technology have flourished. Cultural exchange is becoming more vibrant and connections between people are growing ever closer, continuously enriching their shared stories of mutual understanding, cooperation, exchange and mutual learning.

“The wise find common ground; the unwise dwell on differences.” At the new starting point that is the 50th anniversary of diplomatic relations, China and the EU should remain true to the original aspiration of their partnership, seek common ground while respecting differences, build mutual trust and pursue mutually beneficial cooperation. Together, they will foster global peace and prosperity, as well as usher in a new, promising chapter in the next 50 years.

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SOURCE Beijing Review

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