- Revenue was $25.3 million in the third quarter of 2021, up 575%, compared to $3.7 million over the prior three-month period ending June 30, 2021 .
- Gross profit was $10.5 million in the third quarter of 2021, up 1,288%, compared to $753,535 over the prior three-month period ending June 30, 2021 .
- Net income was $6.8 million in the third quarter of 2021, compared to a net loss of $8.7 million over the prior three-month period ending June 30, 2021 .
TORONTO , Nov. 15, 2021 /PRNewswire/ - Medivolve Inc. (" Medivolve " or the " Company ") (NEO: MEDV)(OTC: COPRF)(FRA: 4NC), a healthcare technology company that seeks to reinvent the US healthcare system by leveraging a bespoke telehealth platform, clinical diagnostic network, and data driven AI to improve patient care, today announced financial results for the third quarter ended September 30, 2021 .
" Medivolve delivered a quarter of strong results, achieving an impressive 575% increase in revenue growth compared to Q2," said David Preiner , CEO of Medivolve. "We're incredibly proud to see our testing services grow and exceed expectations. From here on out, everything we do is focused on furthering our mission and pushing the boundaries of what's possible – not just for our company and shareholders, but also for physicians and patients, and for the future of healthcare."
Q3 Financial Highlights
- Revenue was $25.3 million in the third quarter of 2021, up 575%, compared to $3.7 million over the prior three-month period ending June 30, 2021 .
- Gross profit was $10.5 million in the third quarter of 2021, up 1,288%, compared to $753,535 over the prior three-month period ending June 30, 2021 .
- Net income was $6.8 million in the third quarter of 2021, compared to a net loss of $8.7 million over the prior three-month period ending June 30, 2021 .
- Cash on balance sheet of $0.9 million and $1.9 million of debt at the end of third quarter 2021