Reflecting on your achievements from the previous year is advantageous. That’s exactly what we did, proudly demonstrating our boundless aspirations through an impressive 84% growth and 213 million euros.
So let’s put our hands in the air and celebrate together, shall we?
The company’s revenue and profit growth was fueled by our strategy to reinvest earnings and make the most of our existing infrastructure, as our CEO Tadas Burgaila explains.
“We may be a somewhat unconventional startup that has never attracted outside investment, so we strive to grow by reinvesting our profits and leveraging our existing infrastructure. We see that this strategy is paying off – successful investments and the development of ongoing projects contributed to the group’s overall revenue growth in 2022.”
What we can take away from this is that our key growth drivers have been new product development and improved solutions for chronic diseases.
“Last year, we paid a lot of attention to chronic diseases and creating solutions for their prevention and management. We invested in this area because we believe it’s where we can create the most value and deliver world-class innovation, particularly in diabetes and heart disease. For example, we have invested in innovations such as the smart blood pressure monitor,” says Tadas.
And hold on to your hats because our profits have skyrocketed, jumping over 50% in a single year to a cool $10 million. Can you believe that in just 12 months? Guess what, now you can.
Our strategies didn’t halt there. We also ventured into nutritional supplements aimed at enhancing bowel function and boosting immunity.
This is where our vibrant ecosystem takes center stage. Tadas Burgaila envisioned a world where Kilo Health’s products seamlessly intertwined, creating a harmonious symphony that captivates our valued customers and elevates their experience.
But hey, we didn’t just call it quits there! We kicked it up a notch and expanded our sales channels, sparking a fire that fueled our awesome growth.
And if you thought this was the sole significant aspect, don’t forget – it’s all about the people. With improved results, the Kilo Health team expanded. In 2022, we welcomed 289 new employees, concluding the year with a team of 678 specialists.
If you know a thing or two about Kilo Health, you’re aware that it never stops there. We could literally be scratching the clouds, and Tadas would say, “Guys, let’s go for the moon now while we’re at it.”
That’s the beauty of growth and a mindset that is never limited to any restrictions.
In the upcoming year, following our CEO’s vision, we’ll keep exploring new ways to boost well-being, focusing on creating exciting products and diving into healthcare areas that lack tech solutions. To make this happen, we’re planning significant investments, totaling tens of millions of euros, for the year.
Market trends also need to be taken into account. So, we’ll prioritize the efficiency of our processes. As Tadas explains:
“We are slightly restructuring the company, giving the managed units more freedom and autonomy. This will prepare us for a new stage of sustainable growth, where we will reinvest our profits.”
Let’s not forget our recently formed Mergers and Acquisitions (M&A) unit, which will play a big role this year. Tadas emphasizes that it has a strong potential within the present market landscape.
Additionally, we’ll be co-founding 12 new products this year. This is a big goal, but nothing we can’t reach – as we can see from our success, right?
All things considered, give yourself a pat on the back. We truly value your efforts, and let’s keep the momentum going!
Take a look at our features on the news portals Delfi and Benzinga.
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