Extracted from this filing and checked against the source text.
Earnings Releases
SEC 8-K Item 2.02
confidence 0.9
ABVC BIOPHARMA, INC. reported the fiscal year ended December 31, 2022 results: revenue $969,783, net income $16,312,374.
- Period
- the fiscal year ended December 31, 2022
- Revenue
- $969,783
- Net income
- $16,312,374
- Result
- reported results
Exact text from the filing
ABVC BioPharma Announces Fiscal Year 2022 Financial and Operational Results FREMONT, CA, March 31, 2023 -- ABVC BioPharma, Inc. (Nasdaq: ABVC), a biotechnology company specializing in botanically based solutions that seeks to deliver high efficacy and low toxicity to improve health outcomes, today announced its financial and operating results for the fiscal year ended December 31, 2022. Full Year 2022 Financial Results All comparisons are made on a year-over-year basis. ● Revenues . We generated $969,783 and $355,797 in revenues for the years ended December 31, 2022 and 2021, respectively. The increase of $613,986, or approximately 173%, was primarily caused by the increase in contract services with Rgene. ● Operating Expenses. Our operating expenses were $15,797,780 in the year ended December 31, 2022, as compared to $12,056,679 in the year ended December 31, 2021. Such increase in operating expenses was mainly attributable to the increase in stock-based compensation and selling, gene
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