UnderReporting Revenue? July 2021 closer to $ 10 million???I read the August 17th press release and it appears to me that the company may have under reported its actual revenue. I will explain the discrepancy.
Here are the calculations I made from the press release:
For June 2021 month:
- 5,077 patients per week at 4 weeks = 20,308 patients in the month of June
- $ 298,740 revenue per week at 4 weeks = $ 1,194,960 in month of June
Therefore we can calculate that the price per patient was $ 58.84 ($1,194,960 / 20,308)
The press release states that the average price charged was $ 58 per patient, which is really one (1) test
For July 2021 month
There is an explosion in revenue, patients and prices. They now only do 3 tests.
- 16,794 patients per week at 4 weeks = 67,176 patients in month of July 2021
- $ 1,005,050 revenue per week at 4 weeks = $ 4,020,020 in month of July 2021
Therefore we can calculate that the price per patient was $ 59.84 ($4,020,020 /67,176), amounts to one (1) test.
BUT, the press release clearly states that the average weekly price has increased to $ 150 per patient, which is for 3 tests. It is not $ 59,84 per one test.
We also know that website says 3 tests for $ 150 and, California authorities have confirmed long lineups with prices charged at $ 150 per patient.
Per my caculation, revenue should be much higher in July 2021 than actually reported, somewhere in the range of $10 million (67,176 patients in July 2021 at $ 150 each) and, not $ 4 million (67,176 patients at $59.84 each in July 2021).
Is the company intentionally UNDER REPORTING its actual revenue or, did they make an error in reporting their total numbers????
This is my two cents