Exhibit 99.1
Earth Science Tech, Inc. Reports Fiscal Year-End Financial Results for March 31, 2026
MIAMI, June 18, 2026 (GLOBE NEWSWIRE) — Earth Science Tech, Inc. (OTC: ETST) (“ETST” or the “Company”), a strategic holding company focused on acquiring and scaling high-potential operating businesses, today announced its financial results for the full fiscal year ended March 31, 2026.
“Our fiscal 2026 results reflect the meaningful progress we have made over the last several years to build a business that is durable, self-sustaining and positioned for long-term growth,” said Giorgio R. Saumat, CEO and Chairman of the Board of Earth Science Tech, Inc. “In fiscal 2026, we grew revenue, increased earnings, generated positive operating cash flow and strengthened our balance sheet, all while not adding debt to our balance sheet. These results are driven by the work we have done to better integrate the patient experience across our platform, from telemedicine to pharmacy to fulfillment. By owning more of that process, we serve patients effectively while building a stronger and more profitable business.”
Mr.
Saumat continued, “We delivered these results while remaining disciplined with our capital. During fiscal 2026 and subsequent to
year end, we repurchased and retired more than 7.1 million shares of common stock, continued investing in new products and expanded the
reach of our healthcare platform.
For the fiscal year ended March 31, 2026, the Company reported the following results:
| ● | Revenue: $35.7 million, up 8% compared to $33.1 million for the 12 months ended March 31, 2025. |
| ● | Gross profit: $25.5 million, up 5% compared to $24.3 million for the 12 months ended March 31, 2025. |
| ● | Net income: $3.6 million, up 11% compared to $3.3 million for the 12 months ended March 31, 2025. |
| ● | Total Assets: $9.0 million, up 27% compared to $7.1 million at March 31, 2025. |
| ● | Repurchased and retired shares: 4,023,296 shares of common stock for the 12 months ended March 31, 2026. |
About Earth Science Tech, Inc. (ETST)
Earth Science Tech, Inc. operates as a diversified holding company focused on the health and wellness sector. The Company’s principal operating strategy is to build a vertically integrated healthcare platform that combines compounding pharmacy operations, telemedicine platforms, clinical support, and direct-to-patient fulfillment. The Company’s healthcare operations are supported by investments in real estate and asset management activities and a consumer products business.
The core of the Company’s value proposition is the seamless integration of patient care, from consultation to fulfillment. This is achieved through the synergy of specialized subsidiaries.
To learn more, please visit: www.EarthScienceTech.com
Forward-Looking Statements
Except for historical information, the matters discussed herein may be considered “forward-looking” statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended.
Such statements include declarations regarding the intent, belief or current expectations of the Company and its management, including, without limitation, future-oriented statements related to cash flow, gross margins, revenues, and expenses. These statements are based on and reflect our current expectations, estimates, assumptions and/or projections, our perception of historical trends and current conditions, as well as other factors that we believe are appropriate and reasonable under the circumstances. Forward-looking statements generally can be identified by the fact that they do not relate strictly to historical or current facts. They may include forward-looking words such as “expect,” “expectation,” “believe,” “anticipate,” “may,” “could,” “intend,” “belief,” “plan,” “estimate,” “target,” “predict,” “likely,” “seek,” “project,” “model,” “ongoing,” “will,” “should,” “forecast,” “outlook” or similar terminology. Forward-looking statements are subject to a number of risks and uncertainties that may cause the Company’s actual results to differ materially from our intent, belief or current expectations, including, inter alia, the markets for the Company’s products and services, costs of goods and services, other expenses, government regulations, litigations, and general business conditions. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those anticipated, estimated or projected. The Company assumes no obligation to revise or update any forward-looking statements for any reason, except as required by law.
Company Contact:
Giorgio R. Saumat
CEO and Chairman of the Board
(305) 724-5684
IR@earthsciencetech.com
— Tables Follow –
Earth Science Tech, Inc. and Subsidiaries
Consolidated Balance Sheets
as of March 31, 2026, and 2025
| As of March 31, | ||||||||
| 2026 | 2025 | |||||||
| ASSETS: | ||||||||
| Current Assets | ||||||||
| Cash and cash equivalents | $ | 796,797 | $ | 1,473,228 | ||||
| Accounts receivable, net | 356,054 | 129,064 | ||||||
| Equity securities | 1,360,040 | 645,438 | ||||||
| Inventory | 682,059 | 503,938 | ||||||
| Long lived assets, available for sale | 371,684 | - | ||||||
| Prepaid Expenses and other current assets | 154,480 | 358,837 | ||||||
| Total Current Assets | 3,721,114 | 3,110,505 | ||||||
| Non-Current Assets | ||||||||
| Property and Equipment, net | 1,517,888 | 1,384,110 | ||||||
| Right of use assets, net | 95,317 | 172,429 | ||||||
| Intangible assets, net | 208,170 | 96,885 | ||||||
| Deferred tax asset, net | 772,294 | - | ||||||
| Goodwill | 2,654,554 | 2,302,792 | ||||||
| TOTAL ASSETS | $ | 8,969,337 | $ | 7,066,721 | ||||
| LIABILITIES AND EQUITY: | ||||||||
| Current Liabilities | ||||||||
| Accounts payable | $ | 681,925 | $ | 492,352 | ||||
| Accrued expenses and other payables | 1,150,442 | 2,322,022 | ||||||
| Current portion of operating lease obligations | 96,206 | 121,851 | ||||||
| Current portion of loans & obligations | - | 30,592 | ||||||
| Short-term business loans | - | 179,488 | ||||||
| Total Current Liabilities | 1,928,573 | 3,146,305 | ||||||
| Long-Term Liabilities | ||||||||
| Lease Liability | - | 37,878 | ||||||
| Loans and Obligations | - | 31,427 | ||||||
| Total Liabilities | 1,928,573 | 3,215,610 | ||||||
| Commitments and Contingencies (Note 11) | ||||||||
| Stockholders’ Equity | ||||||||
| Preferred stock, par value $0.001 per share, 1,000,000 shares authorized; 1,000,000 and 1,000,000 shares issued and outstanding as of March 31, 2026, and March 31, 2025, respectively | 1,000 | 1,000 | ||||||
| Common stock, par value $0.001 per share, 300,000,000 shares authorized; 291,324,607 shares issued and outstanding as of March 31, 2026, and 295,347,903 issued and 294,302,607 outstanding as of March 31, 2025 | 291,324 | 295,348 | ||||||
| Additional Paid in Capital | 30,826,352 | 31,480,143 | ||||||
| Accumulated Deficit | (24,108,199 | ) | (27,738,975 | ) | ||||
| Treasury Stock, at cost (0 and 1,045,296 shares as of March 31, 2026, and March 31, 2025, respectively) | - | (186,405 | ) | |||||
| Total Stockholders’ Equity | 7,010,477 | 3,851,111 | ||||||
| Non-Controlling Interest | 30,287 | - | ||||||
| Total Equity | 7,040,764 | 3,851,111 | ||||||
| TOTAL LIABILITIES AND EQUITY | $ | 8,969,337 | $ | 7,066,721 | ||||
The accompanying notes are an integral part of these consolidated financial statements.
Earth Science Tech, Inc. and Subsidiaries
Consolidated Statements of Operations
For Years Ended March 31, 2026, and 2025
| 2026 | 2025 | |||||||
| Revenue | $ | 35,695,614 | $ | 33,117,624 | ||||
| Cost of Goods Sold | 10,207,557 | 8,817,488 | ||||||
| Gross Profit | 25,488,057 | 24,300,136 | ||||||
| Expenses | ||||||||
| Salaries Expense | 13,776,033 | 14,115,643 | ||||||
| Selling general and administrative expenses | 3,571,448 | 4,154,838 | ||||||
| Bank charges | 1,006,026 | 1,066,577 | ||||||
| Advertising & marketing | 2,840,553 | 836,860 | ||||||
| Legal and professional fees | 221,179 | 305,932 | ||||||
| Insurance | 168,353 | 180,281 | ||||||
| Operating lease cost | 180,753 | 98,434 | ||||||
| Depreciation and amortization | 284,396 | 53,951 | ||||||
| Utilities | 130,790 | 39,661 | ||||||
| Total Expenses | $ | 22,179,531 | $ | 20,852,178 | ||||
| Other income (expense) | ||||||||
| Dividend and interest income | 15,458 | 9,141 | ||||||
| Net realized gain on sale of investments | 671,528 | 300,162 | ||||||
| Unrealized Gain (Loss) on fair value changes of investments | (957,118 | ) | (365,661 | ) | ||||
| Other | 67,194 | - | ||||||
| Interest Expense | (16,327 | ) | (21,189 | ) | ||||
| Net Income before taxes | 3,089,261 | 3,370,411 | ||||||
| Income Taxes | (511,676 | ) | 116,776 | |||||
| Net Income | $ | 3,600,937 | $ | 3,253,635 | ||||
| Net Income/(Loss) attributed to non-controlling interest | (29,839 | ) | - | |||||
| Net Income available to common stockholders’ | 3,630,776 | 3,253,635 | ||||||
| Earnings per common share-Basic and Diluted | $ | 0.012 | $ | 0.011 | ||||
| Weighted average number of shares outstanding- Basic and Diluted | 293,069,803 | 303,521,458 | ||||||
The accompanying notes are an integral part of these consolidated financial statements.