HealthLynked Reports Annual Revenue Growth of 53% and Net Equity Improvement of $4.2M to $1.35M
April 01 2021 - 8:00AM
InvestorsHub NewsWire
HealthLynked Reports
Annual
Revenue
Growth
of
53%
and Net Equity Improvement of $4.2M to $1.35M
Naples, FL -- April 1, 2021 -- InvestorsHub NewsWire
-- HealthLynked
Corp. (OTCQB: HLYK),
a
global healthcare network focused on care management of its
members
and a provider of healthcare technologies that connects doctors,
patients and medical data, late
yesterday reported
its
financial
results for
the quarter and year
ended December 31, 2020,
the
company reported a 53% annual
revenue
growth and
net
shareholders' equity improvement of
$4.2 million.
The
company improved
from a negative
$2.8
million net equity
at the
end of 2019 to
positive
net
equity of
$1.35
million
at
year-end
2020.
Fourth
Quarter 2020
Compared to
Fourth
Quarter 2019:
-
36%
increase
in revenue in
Q4'20
compared to
Q4'19,
increasing to $1,594,515
from
$1,172,877
in
Q4'19
-
Net
equity of $1,350,008 in Q4'20
compared to ($2,842,680) in Q4 2019,
an
improvement of $4,192,688.
-
Operating loss
increased 21% from $871,882 in Q4'19 to $1,051,103 in
Q4'20
-
Net
loss
decreased
by 22%
from $2,463,028
in
Q4'19
to
$1,922,897
in
Q4'20
-
Patient
appointments
decreased
11%
from 4,006
in
Q4'19
to
3,564
in
Q4'20
-
Time of
Service collections
improved
29%
from $777,895
in
Q4'19
to
$1,001,312
in
Q4'20
Full Year
2020
Compared
to
2019:
-
53%
increase
in
revenue to
$6,133,120
in
2020
compared to
$4,018,818
in
2019
-
Operating loss
decreased by
4%
from $3,209,010
in
2019
to
$3,071,829
in
2020
-
Patient
appointments decreased
11%
from 16,409
in
2019
to
14,628
in
2020
-
Time of Service
collections increased
45%
from $2,475,377
in
2019
to
$3,589,601
in
2020
"Our
10-K
concludes a very
successful year for HealthLynked with 53% growth
annually and 36%
over
same
quarter last year."
said
Michael Dent
M.D., the Company's
Chairman and CEO. "We
made significant improvements in our balance
sheet, increasing
the
company's net equity
by
$4.2
million
in
2020. The
positive trend has continued
into 2021
and we
expect our
first
quarter net equity to be
approximately $8
million,
a projected
$6.7
million
improvement since
the end of 2020."
Dr.
Dent went on to say,
"We are very
excited about our recent
Healthcare
Summit
held
at the
Arthrex Campus from March
15-17th
in
Naples, Florida. The event hosted
thought leaders
from
around the world who
presented on the
latest
trends in healthcare. DocLynk,
our
Telemedicine
service,
is
on
schedule to launch this month. Other
exciting
products
are scheduled to launch in 2021.
We
have seen the number of HealthLynked users grow significantly since
COVID-19,
with
over 6 million downloads,
and
with our new services we expect to
see
new
revenues from
these efforts during
2021."
George
O'Leary, HealthLynked Chief Financial Officer, said "We are very
proud of the work we have done
to
improve our net equity over the
last 15 months,
and
with approximately $8 million in net equity estimated
by the
end of first quarter 2021,
we
believe HealthLynked is in a great
position for our planned uplisting during 2021."
About HealthLynked Corp.
HealthLynked Corp.
provides a solution for both patient members and providers to
improve healthcare through the efficient exchange of medical
information. The HealthLynked Network is a cloud-based platform
that allows members to connect with their healthcare providers and
take more control of their healthcare. Members enter their medical
information, including medications, allergies, past surgeries and
personal health records, in one convenient online and secure
location, free of charge. Participating healthcare providers can
connect with their current and future patients through the system.
Benefits to in-network providers include the ability to utilize the
HealthLynked patent pending patient access hub "PAH" for patient
analytics. Other benefits for preferred providers include HLYK
marketing tools to connect with their active and inactive patients
to improve patient retention, access more accurate and current
patient information, provide more efficient online scheduling and
to fill last minute cancelations using the Company's "real time
appointment scheduling" all within its mobile application.
Preferred providers pay a monthly fee to access these HealthLynked
services. For additional information about HealthLynked Corp.,
please visit www.healthlynked.com and
connect with HealthLynked on Twitter, Facebook, and
LinkedIn.
Forward Looking Statements
Forward-Looking Statements in this press release, which are not
historical facts, are forward-looking statements within the meaning
of the Private Securities Litigation Reform Act of 1995. Our actual
results, including as a result of any acquisitions, performance or
achievements may differ materially from those expressed or implied
by these forward-looking statements. In some cases, you can
identify forward-looking statements by the use of words such as
"may," "could," "expect," "intend," "plan," "seek," "anticipate,"
"believe," "estimate," "predict," "potential," "continue,"
"likely," "will," "would" and variations of these terms and similar
expressions, or the negative of these terms or similar expressions.
Such forward-looking statements are necessarily based upon
estimates and assumptions that, while considered reasonable by
our
management, and us are inherently uncertain. We caution you not to
place undue reliance on any forward-looking statements, which are
made as of the date of this press release. We undertake no
obligation to update publicly any of these forward-looking
statements to reflect actual results, new information or future
events, changes in assumptions or changes in other factors
affecting forward looking statements, except to the extent required
by applicable laws. If we update one or more forward-looking
statements, no inference should be drawn that we will make
additional updates with respect to those or other forward-looking
statements. Certain risks and uncertainties applicable to our
operations and us are described in the "Risk Factors" section of
our most recent Annual Report on Form 10-K and in other filings we
have made with the U.S. Securities and Exchange Commission. These
reports are publicly available at www.sec.gov.
Contacts:
George
O'Leary
Chief Financial
Officer
goleary@healthlynked.com
(800) 928-7144,
ext. 103
William
Hayde
Capital Markets
Strategist
bhayde@healthlynked.com
(631)
403-4337
Investor Relations Contacts:
Jim
Hock
Hanover
International Inc.
jh@hanoverintlinc.com
(760)
564-7400
HealthLynked Corp.
Selected Consolidated Financial Data
Years and Quarters
Ended
December 31,
2019 and 2020
|
Year Ended
December 31,
|
|
Three Months Ended
December 31,
|
|
|
2020
|
|
|
2019
|
|
|
2020
|
|
|
2019
|
Statement of Operations Data
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total
revenue
|
$
|
6,133,120
|
|
$
|
4,018,818
|
|
$
|
1,594,515
|
|
$
|
1,172,877
|
|
|
|
|
|
|
|
|
|
|
|
|
Loss from
operations
|
|
(3,071,829)
|
|
|
(3,209,010)
|
|
|
(1,051,103)
|
|
|
(871,882)
|
Net
loss
|
|
(5,755,256)
|
|
|
(5,528,599)
|
|
|
(1,922,897)
|
|
|
(2,463,028)
|
Net loss to common
stockholders
|
|
(6,201,292)
|
|
|
(5,528,599)
|
|
|
(2,305,071)
|
|
|
(2,463,028)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net loss per share
to common stockholders, basic and diluted
|
$
|
(0.04)
|
|
$
|
(0.06)
|
|
$
|
(0.01)
|
|
$
|
(0.02)
|
Weighted average
number of common shares, basic and diluted
|
|
142,824,870
|
|
|
99,059,677
|
|
|
163,481,276
|
|
|
106,349,355
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Balance Sheet Data
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Dec. 31, 2020
|
|
|
|
Dec. 31, 2019
|
Total
Assets
|
|
|
$
|
|
8,026,548
|
|
|
|
$
|
|
2,546,554
|
Total
Liabilities
|
|
|
$
|
|
6,676,540
|
|
|
|
$
|
|
5,389,234
|
Total
Shareholders' Equity (Deficit)
|
|
|
$
|
|
1,350,008
|
|
|
|
$
|
|
(2,842,680)
|
|
|
|
|
|
|
|
|
|
|
|
|
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