Avalon GloboCare Corp. reported a significant reduction in net losses for the fiscal year ending December 31, 2024, with a net loss of approximately $7.9 million, compared to a loss of $16.7 million in the previous year. This represents a decrease of 52.7%. The company attributed this improvement to a reduction in operating expenses, particularly in advertising and marketing, which saw an 85.7% decrease, and professional fees, which fell by 40.8%. Despite these reductions, Avalon continues to face challenges, including a working capital deficit of approximately $10.6 million as of December 31, 2024, up from $5.9 million the previous year.
In terms of revenue, Avalon generated $1.3 million from real property rental in 2024, a 6.2% increase from $1.3 million in 2023, primarily due to an increase in tenant occupancy. However, the company has ceased offering laboratory services following the redemption of its 40% interest in Lab Services MSO in February 2025, which it had acquired in 2023. This strategic decision was made to preserve cash and refocus on its core business of developing and marketing precision diagnostic consumer products, including the Keto Air breathalyzer device.
The Keto Air device, which measures ketosis levels, was launched in 2024 and is marketed through various channels, including social media and its dedicated website. Avalon has secured exclusive distributorship rights for the device across North America, South America, the EU, and the UK. The company believes that the Keto Air device has competitive advantages over other methods for measuring ketosis, particularly for individuals managing diabetes and obesity.
Avalon’s financial outlook remains cautious, with management expressing substantial doubt about the company's ability to continue as a going concern without raising additional capital. The company plans to pursue further financing through equity sales and other means to support its operations and growth initiatives. As of December 31, 2024, Avalon had approximately $2.9 million in cash, which is insufficient to cover its operating expenses for the next twelve months. The company is actively seeking strategic merger candidates to enhance its financial position and operational capabilities.
About Avalon GloboCare Corp.
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