EX-99.1

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PRESS RELEASE

knwn_ex991.htm

EXHIBIT 99.1

Know Labs, Inc. Reports First Quarter FY2024 Results

SEATTLE – February 14, 2024 – Know Labs, Inc. (NYSE American: KNW), an emerging developer of non-invasive medical diagnostic technology, today reported financial results for the first quarter ended December 31, 2023.

Financial Highlights:

·

In Q1 FY 2024, Know Labs reported a net loss of $3.45 million dollars, compared to a net loss of $3.82 million dollars in Q1 FY 2023, a reduction in net loss of 9.8%. This translates to Earnings Per Share of a loss of $0.04, better than the prior year quarter Earnings Per Share Loss of $0.08, an improvement of 50%, before preferred stock dividends.

·

Recorded a non-cash charge to earnings of $792,000 principally related to stock-based compensation of $699,000.

·

Research and development expense for Q1 FY2024 was $1.48 million dollars as compared to $1.74 million dollars in Q1 FY 2023, a decrease of 14.7% year over year. The decrease in R&D expense was related to decreased personnel and the use of external consultants to reduce the cost of product development.

·

Selling, general and administrative expenses for Q1 FY 2024 was $2.01 million, which was higher by $106,000 than the $1.91 million dollars in the year ago period, an increase of 5.6%.

·

As of December 31, 2023, we had cash and cash equivalents of $4.82 million dollars, as compared to $8.02 million at the end of September 30, 2023. Net cash used in operations for Q1 FY 2024 was $3.39 million dollars compared with $2.92 million in Q1 FY 2023.

·

During the year ended September 30, 2023, the Company made adjustments to its fixed expenses and the impact of those adjustments has significantly reduced our monthly burn rate. Given the significant reduction in fixed expenses, the Company believes that it has enough available cash and flexibility with its operating expenses to operate until at least June 30, 2024. As we have stated in our Q1 FY 2024 10-Q, we expect to raise additional funds through the issuance of equity, preferred stock and convertible debentures. To that end, we filed an $18 million S-3 shelf registration statement on December 22, 2023, which was subsequently declared effective on January 11, 2024.

·

Shareholder equity for Q1 FY 2024 was $1.23 million versus $3.74 million in fiscal year 2023, ending September 30, 2023.

KNOW LABS, INC.    |    500 UNION STREET     |     SUITE 810    |     SEATTLE, WA 98101

Tel:  206.903.1351    |   Email: ask@knowlabs.co

As previously disclosed in its annual report on Form 10-K for the fiscal year ended September 30, 2023, which was filed with the Securities and Exchange Commission on December 19, 2023, the audit opinion contained a going concern qualification from the Company's independent registered public accounting firm. This announcement is being made solely to comply with the New York Stock Exchange's Company Guide Sections 401(h) and 610(b), which require separate disclosure of receipt of an audit opinion that contains a going concern qualification. This announcement does not represent any change or amendment to the Company's 2023 audited financial statements or to its 2023 annual report on Form 10-K.

Conference Call:

Know Labs will host an audio webcast to discuss its results and provide a business update today, February 14, 2024, at 4:30 pm ET (1:30 pm PT). The live webcast will be available on the Investors page of the Company’s website, www.knowlabs.co/investors, and a replay will be available for six months.

Participant Dial-In: 877-514-3621 / +1 215-268-9856

Webcast: https://event.choruscall.com/mediaframe/webcast.html?webcastid=u3gcCI6A

A copy of the form 10-Q filed with the SEC can also be downloaded from the Company’s website.

KNOW LABS, INC.    |    500 UNION STREET     |     SUITE 810    |     SEATTLE, WA 98101

Tel:  206.903.1351    |   Email: ask@knowlabs.co

KNOW LABS, INC.  AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF OPERATIONS

Unaudited

Three Months Ended,

December 31,

2023

December 31,

2022

OPERATING EXPENSES-

RESEARCH AND DEVELOPMENT EXPENSES

$ 1,486,388

$ 1,743,051

SELLING, GENERAL AND ADMINISTRATIVE EXPENSES

2,011,246

1,905,071

Total operating expenses

3,497,634

3,648,122

OPERATING LOSS

(3,497,634 )

(3,648,122 )

OTHER INCOME (EXPENSE), NET

Interest income

51,010

-

Interest expense

-

(227,170 )

Other (expense) income, net

-

52,433

Total other income (expense), net

51,010

(174,737 )

LOSS BEFORE INCOME TAXES

(3,446,624 )

(3,822,859 )

Income tax expense

-

-

NET LOSS

(3,446,624 )

(3,822,859 )

Deemed dividends on Series C and D  Preferred Stock

(63,629 )

-

NET LOSS ATTRIBUTABLE TO COMMON SHAREHOLDERS

$ (3,510,253 )

$ (3,822,859 )

Basic and diluted loss per share

$ (0.04 )

$ (0.08 )

Weighted average shares of common stock outstanding- basic and diluted

81,094,007

48,187,339

KNOW LABS, INC.    |    500 UNION STREET     |     SUITE 810    |

EX-99.1

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EX-99.1

know_ex991.htm

EXHIBIT 99.1

Know Labs, Inc. Reports Third Quarter FY2023 Results

SEATTLE – August 14, 2023 – Know Labs, Inc. (NYSE American: KNW), an emerging developer of non-invasive medical diagnostic technology, today reported financial results for the third quarter ended June 30, 2023.

Financial Highlights:

· Know Labs reported a net loss of $3.59 million dollars in the third quarter of 2023, compared to a net loss of $3.03 million dollars in the year-ago period, which translates to Earnings Per Share of a loss of $0.07, unchanged from the year ago period of a loss of $0.07 before preferred stock dividends.

· Recorded a non-cash charge to earnings of $4.96 million related to the fair market value of dividends on the Company’s Series C and D preferred stock, that were either paid or accrued in shares of common stock in the quarter.

· Research and development expense for the third quarter was $1.87 million dollars as compared to $1.27 million dollars in 2022. The increase in R&D expense was related to increases in engineering, third-party technical services, and expenditures related to the development of our Generation 1 device, which we completed and announced on June 7th, as we continue to execute our path to FDA clinical trials and commercialization.

· Selling, general and administrative expenses for the third quarter was $1.35 million, which was sequentially lower by $890,000 than the $2.24 million dollars in the second quarter, as well as lower than the year ago period of $1.58 million, as we continue our initiatives to reduce our cash burn.

· As of June 30, 2023, we had cash and cash equivalents of $3.93 million dollars, as compared to $12.59 million at the end of September 30, 2022. Net cash used in operations for the nine-month period ending June 30, 2023 was $8.97 million dollars compared with $3.69 million in the prior year.

Know labs, Inc.    |    500 Union Street     |     Suite 810    |     Seattle, WA 98101

Tel:  206.903.1351    |   Email: ask@knowlabs.co

· During the quarter that ended June 30, 2023, the Company made adjustments to its fixed expenses and the impact of those adjustments has significantly reduced our monthly burn rate. Given the significant reduction in fixed expenses, the Company believes that it has enough available cash and flexibility with its operating expenses to operate until at least December 2023. As we have stated in our Third Quarter 10-Q, during 2023, we expect to raise additional funds through the issuance of preferred stock, convertible debentures, and equity.

·

Shareholder equity for the third quarter 2023 was $0.72 million versus $9.9 million as of September 30, 2022.

Income Statement:

Know labs, Inc.    |    500 Union Street     |     Suite 810    |     Seattle, WA 98101

Tel:  206.903.1351    |   Email: ask@knowlabs.co

Balance Sheet:

Know labs, Inc.    |    500 Union Street     |     Suite 810    |     Seattle, WA 98101

Tel:  206.903.1351    |   Email: ask@knowlabs.co

Cash Flow:

Conference Call:

Know Labs will host an audio webcast to discuss its results and provide a business update today, August 14, 2023, at 4:30 pm ET (1:30 pm PT). The live webcast will be available on the Investors page of the Company’s website, www.knowlabs.co/investors, and a replay will be available for six months.

Participant Dial-In: 877-514-3621 / +1 215-268-9856

Webcast: https://event.choruscall.com/mediaframe/webcast.html?webcastid=QDtTlLZk

A copy of the form 10-Q filed with the SEC can also be downloaded from the Company’s website.

Know labs, Inc.    |    500 Union Street     |     Suite 810    |     Seattle, WA 98101

Tel:  206.903.1351    |   Email: ask@knowlabs.co

About Know Labs, Inc.

Know Labs, Inc. is a public company whose shares trade on the NYSE American Exchange under the stock symbol “KNW.” The Company’s technology uses spectroscopy to direct electromagnetic energy through a substance or material to capture a unique molecular signature. The Company refers to its technology as Bio-RFID™. The Bio-RFID technology can be integrated into a variety of wearable, mobile or bench-top form factors. This patented and patent-pending technology makes it possible to effectively identify and monitor analytes that could only previously be performed by invasive and/or expensive and time-consuming lab-based tests. The first application of our Bio-RFID technology will be in a product marketed as a non-invasive glucose monitor. The device will provide the user with accessible and affordable real-time information on blood glucose levels. This product will require U.S. Food and Drug Administration clearance prior to its introduction to the market.

Safe Harbor Statement

This release contains statements that constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 19