Skip to main content

InvestorNewsBreaks – InnerScope Hearing Technologies Inc. (INND) Announces Q3 2022 Results, Positioned with Distinct Advantage in New Emerging Market

InnerScope Hearing Technologies (OTC: INND), an emerging and disruptive leader in the over-the-counter (“OTC”) hearing aid space, today announced its financial results (unaudited) for the third quarter ended Sept. 30, 2022, (“Q3 2022”). Among the highlights, InnerScope reported its consecutive profitable quarter with consolidated net revenues of $6,564,682, a net profit of $3,664,342, and a positive EBITA (before taxes) of 55.8% for Q3 2022 compared to a net profit of $3,881,620 and a positive EBITA of 56% for the second quarter ended June 30, 2022. “Recording two consecutive profitable quarters in Q2 2022 and Q3 2022 before the Over-the-Counter Hearing Law was enacted on October 17, 2022, shows we are building a scalable and profitable business,” said InnerScope CEO Matthew Moore. “Our business plan from the beginning was to build a wholesale/retail distribution network of major retailers, health care service companies, and pharmacy chains (“Distribution Network”) for our affordable hearing aids years before the FDA Finalizes Historic Rule Enabling Access to Over-the-Counter (“OTC”) Hearing Aids for Millions of Americans allowing hearing aids to be sold in retail stores and pharmacies without a prescription or be seen by a hearing professional. Our current ever-growing Distribution Network with thousands of retail locations gives us a distinct competitive advantage in this new emerging market.”

To view the full press release, visit https://ibn.fm/yy01n

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’s hearing products and its B2C and B2B business model break through the persistent barriers that prevent access to effective and affordable hearing solutions. InnerScope’s recent acquisition of iHear Medical Inc., a direct-to-consumer (“DTC”) cloud-based hearing solution provider, gives the company access to over 40 patents and an R&D facility. In addition, InnerScope has 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 hearing products through Walmart and many other major retailers and pharmacy chains. InnerScope’s full line of hearing products is currently available through these multiple retail/wholesale distribution channels: Walmart Vision CentersWalmart.comWalmart CanadaRiteAid.comBestBuy.comAmazon.comFingerhut.comGiant EagleHy-VeeHartig DrugFood CityCardinal Health(TM) at-Home, and Topco Associates, representing 1000s of stores. More in-store and online hearing products will soon launch with 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

About InvestorWire

InvestorWire is the wire service that gives you more. From regional releases to global announcements presented in multiple languages, we offer the wire-grade dissemination products you’ll need to ensure that your next press release grabs the attention of your target audience and doesn’t let go. While our competitors look to nickel and dime you with hidden fees and restrictive word limits, InvestorWire keeps things transparent.

As part of its service, InvestorWire provides coverage of noteworthy announcements. To further expand visibility of achievements being made throughout a multitude of sectors, InvestorWire’s syndication partners have extended the digital coverage to include individual broadcasts on financial websites and platforms visited by millions of investors daily.

For more information, please visit https://www.InvestorWire.com

Please see full terms of use and disclaimers on the InvestorBrandNetwork website applicable to all content provided by IBN, wherever published or re-published: http://ibn.fm/Disclaimer

InvestorWire (IW)
8033 Sunset Blvd Suite 1037-IW
Los Angeles, CA 90046
310.299.1717 Office
www.InvestorWire.com
Editor@InvestorWire.com

InvestorWire is part of the InvestorBrandNetwork.

Data & News supplied by www.cloudquote.io
Stock quotes supplied by Barchart
Quotes delayed at least 20 minutes.
By accessing this page, you agree to the following
Privacy Policy and Terms and Conditions.