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Strong top-line gains, reduced expenditures, and improved gross margins result in milestone quarter
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VANCOUVER, British Columbia, July 18, 2025 (GLOBE NEWSWIRE) — Hapbee Technologies Inc. (TSXV: HAPB | OTCQB: HAPBF), a wearable wellness technology company and the pioneer of bio-streaming products, today announced its unaudited financial results for the second quarter ended June 30, 2025.
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The Company achieved its first-ever quarterly net profit in its history, driven by continued increases in sales, improved operating efficiencies, and gross margin expansion.
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Q2 2025 Financial and Operational Highlights
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- Revenue Growth: Total revenue increased by 26% over Q1 2025 and 114% year-over year to $520,323 in Q2 2025.
- Net Profit Achieved: Q2 2025 marked Hapbee’s first profitable quarter in company history, with net income of $17,988, compared to a net loss of $178,984 in Q1 2025 and a loss of $1.86 million in Q2 2024.
- Gross Profit Increase: Gross profit improved 45% quarter-over-quarter to $301,078.
- Gross Margin Increase: Gross margin increased to 58%, up from 51% in Q1 2025, driven by a higher mix of subscription revenue and increased average order values.
- Operating Cost Reductions: Operating expenditures decreased by 20% compared to Q1 2025 and 72% as compared to Q2 2024, reflecting the Company’s ongoing cost discipline and operational efficiencies.
- Device Sales Momentum: Device unit sales increased by 38% in Q2 2025 to 1,935 units, nearly six times higher (+495%) than the same period in 2024 (325 units).
- Subscription Revenue Increase: Subscriber revenue increased by 83% in Q2 2025, to $65,974 and 25% higher than Q2 2024.
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“This quarter represents a significant milestone for Hapbee and we are delighted to share with our shareholders that we have achieved three consecutive quarters of growth,” said Riz Shah, Chairman of the Board. “Achieving profitability is a major step forward, and we remain disciplined in sustaining this momentum in the quarters ahead.”
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The company also introduced new additions to the leadership team. Ahsan Ashraf is Hapbee’s new CTO and joined the Board with new additions Kenny Adessky and Rachid Lassal. Mr. Ashraf led deployment of the new Hapbee App launched in May 2025, which introduced “boosted” signal functionality, an AI-guided Vibe discovery engine, improved device connectivity and enhanced usability, all of which are already contributing to increased user engagement and subscription revenue.
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The Company has also announced that it will be launching its new consumer full-body mattress topper in Q3 2025 and is targeting Q4 2025 to launch the next version of its neckband daily wearable.
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The Company announced new partnerships with Snooze Mattress, based in Denver, Colorado, to grow enterprise consumer sales in the US; Gharieni, based in Moers, Germany, to grow enterprise sales in spa and wellness in the Middle East and Europe; and Liberty Alliance, based in Tampa, Florida, to grow enterprise sales in the defense sector.
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