Management believes Adjusted EBITDA is an important measure of our operating performance because it allows management, investor, and analysts to evaluate and assess our core operating results from period to period after removing the impact of significant non-cash charges that effect comparability between reporting periods. We define Adjusted EBITDA as net loss from operations adjusted for non-cash charges from depreciation and amortization and stock compensation. Management uses this non-GAAP financial measure in evaluating its financial and operational decision making and as a means of evaluating period to period comparison. Management believes stockholders benefit from referring to the Adjusted EBITDA in planning, forecasting, and analyzing future periods. Investors should not consider non-GAAP financial measures in isolation or as substitutes for performance measures calculated in accordance with GAAP. Non-GAAP financial measures may not be indicative of the historical operating results of the Company nor are they intended to be predictive of potential future financial results. Non-GAAP financial measures should be viewed as supplemental to, and should not be considered as alternative to, net income, operating income, and cash flow from operating activities, liquidity, or any other financial measures. A non-GAAP financial measure is a numerical measure of a company’s performance, financial position, or cash flows that either excludes or includes amounts that are not normally included or excluded in the most directly comparable measure calculated and presented in accordance with generally accepted accounting principles (GAAP). The following discussion and analysis contain a non-GAAP financial measure. TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY
The balance of the prior year variance is primarily attributable to the closure of the retail stores in the vapor segment. It should be noted that over $0.5 million in non-recurring expenses were incurred during the three-month period ended June 30, 2022. Loss from operations for the three-month period ended June 30, 2022, amounted to approximately $1.4 million versus $0.7 million for the same period last year. Gross margin from operations increased by approximately $0.9 million for the three-month period ended June 30, 2022, amounting to $2.3 million, compared to $1.5 million for the same period in 2021, a 59.3% year-over-year increase. Net sales from operations for the three-month period ended June 30, 2022, amounted to $6.1 million, compared to $3.4 million, an approximately $2.7 million and 81.1% increase versus the same period in 2021. Second Quarter 20 22 Results and Recent Highlights : (OTC Pink: HCMC) today announced its financial results for the second quarter ended June 30, 2022. 01, 2022 (GLOBE NEWSWIRE) - Healthier Choices Management Corp. Record Gross Margin of $ 2.3 M for the Quarter 59.
Record Sales of $ 6.1 M for the Second Quarter 81.1 % Year - Over-Year Growth
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