Glow Lifetech Reports 49% Q/Q Revenue Growth, 73% Gross Margins, and Strengthened Balance Sheet in Q3 2024

Toronto, Ontario--(Newsfile Corp. - December 2, 2024) - Glow LifeTech Corp. (CSE: GLOW) (OTC Pink: GLWLF) (FSE: 9DO) ("Glow" or the "Company") is pleased to report its financial results for the third quarter ended September 30, 2024 ("Q3 2024"). In Q3 2024, the Glow achieved record revenue, robust gross margins, and key balance sheet improvements, reflecting the Company's commitment to delivering sustainable, profitable growth.

"In Q3 2024, we delivered a transformational quarter for Glow – record revenue, sustained high gross margins, and significantly improved our balance sheet - we are well positioned to accelerate the business momentum in the balance of the year and 2025," said Rob Carducci, CEO, Glow LifeTech. "We remain laser focused on our path to profitability and with strong demand for our products in Ontario, coupled with a highly efficient operating model, we see a clear path to drive profitable growth in Canada and beyond."

Q3 2024 Financial & Subsequent Highlights:

• Revenue Growth: Gross revenue Increased 49% to $227,052 compared to Q2 2024, driven by increasing demand and expanded market reach.

• Robust Gross Margin: Achieved strong 73% gross margins, a further improvement from 68% in Q2 2024, reflecting the Company's focus on sustained operational efficiency.

• Strengthened Balance Sheet: Completed at $1.2 million financing on September 24, 2024^[1], and subsequently closed a $900,000 private placement and settled $591,000 in debt on November 29, 2024^[2], greatly improving the Company's financial health and ability to make strategic growth investments.

• Improved Profitability: EBITDA^[3] loss narrowed to $156,144, an improvement of 17% from Q2 2024, underscoring the Company's continued progress toward achieving sustainable profitability.

"The fundamentals of our business are stronger than ever, and we're particularly pleased that the majority of our recent financings have consisted of management, directors, strategic partners, and long-term shareholders. This alignment demonstrates a shared commitment to the long-term success of the Company," said Rob Carducci, CEO, Glow LifeTech. "Their continued support underscores the confidence those closest to the business have in our growth potential and strategic vision."