HealthLynked
Reports Annual Revenue Growth of 50% to $9.2 Million
Company
remains well positioned to drive continued top-line growth in
2022
Naples, FL -- April 1, 2022
-- 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, reported its
financial results for the fourth quarter and full
year ended December 31, 2021.
2021
Financial Highlights
-
Revenue of $9.2 million, up 50%
compared to $6.1 million in 2020
-
ACO/MSO revenue grew 125% to $2.7
million compared to $1.2 million for the prior year
-
Health Services revenue grew 22%
to $5.8 million compared to $4.7 million for the prior
year
-
Net equity of $7.2 million, up
434% from $1.2 million in 2020
Fourth
Quarter 2021 Financial Highlights
-
Revenue of $1.7 million increased
by 4% compared to $1.5 million in the fourth quarter of
2020
-
Net loss of ($1.7) million
decreased by 11% compared to ($1.9) million in the fourth quarter
of 2020
Business
Highlights
-
Released AI-enabled healthcare
directory CareLynk to connect HealthLynked users to any doctor
across the U.S.
-
Launched telemedicine platform
DocLynk for all HealthLynked patients and providers for primary
care and women's healthcare virtual appointments in a simple and
easy-to-use interface
-
QwikCheck V2.0 launched to
streamline the patient check-in process while maintaining social
distancing
-
Announced the addition of Dr.
Paul Hobaica and Dr. Sam Diasti to its medical advisory
board
-
Appointed Jeffrey Cohen as Vice
President of Sales to increase revenue by introducing HealthLynked
products and services to health systems, third party payers,
hospitals, universities, and group purchasing
organizations
Dr. Michael Dent, HealthLynked's
Chairman and Chief Executive Officer, commented, "HealthLynked
finished 2021 with a record 50% revenue growth, capping off another
milestone year for the company. We are proud of our accomplishments
throughout 2021 as we completed several key product announcements
and continued to make investments in our existing digital product
portfolio. These accomplishments, combined with our strong
financial performance, provides us confidence in our ability to
continue to reduce healthcare costs and improve patient
outcomes."
George O'Leary, HealthLynked's Chief
Financial Officer, added, "We are very proud of our proven
historical revenue growth, including 60% CAGR from 2018-21. We
closed the year with a strong net equity of $7.2 million, a
significant improvement to our balance sheet from the previous
year. We continue to remain excited about the growth we are
experiencing, and we look forward to continuing to provide value to
our patients and shareholders in 2022 as the company executes on
its business strategy."
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, Instagram,
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.
Investor
Relations Contacts:
Lisa Fortuna or Josh Carroll
HLYK@alpha-ir.com
HLYK
Contact:
George O'Leary
Chief Financial
Officer
goleary@healthlynked.com
(800)-928-7144, ext.
103
HealthLynked
Corp.
Selected
Consolidated Financial Data
Years Ended
December 31, 2021 and 2020
|
Year Ended
December 31,
|
|
Quarter Ended
December 31,
|
|
|
2021
|
|
|
2020
|
|
|
2021
|
|
|
2020
|
Statement of
Operations Data
|
|
|
|
|
|
|
|
|
|
|
|
|
Total revenue
|
$
|
9,197,992
|
|
$
|
6,133,120
|
|
$
|
1,657,959
|
|
$
|
1,594,515
|
Net loss
|
$
|
(10,412,582)
|
|
$
|
(5,755,256)
|
|
$
|
(1,715,348)
|
|
$
|
(1,922,897)
|
|
|
|
|
|
|
|
|
|
|
|
|
Net loss per share to common
stockholders, basic and diluted
|
$
|
(0.05)
|
|
$
|
(0.04)
|
|
$
|
(0.01)
|
|
$
|
(0.01)
|
Weighted average number of common
shares, basic and diluted
|
|
227,847,181
|
|
|
142,824,870
|
|
|
237,308,625
|
|
|
163,481,276
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Balance Sheet
Data
|
|
|
|
|
|
|
|
|
|
|
|
|
Dec. 31,
2021
|
|
Dec. 31,
2020
|
|
|
|
|
|
|
Total Assets
|
$
|
10,694,556
|
|
$
|
8,026,548
|
|
|
|
|
|
|
Total Liabilities
|
$
|
3,490,662
|
|
$
|
6,676,540
|
|
|
|
|
|
|
Total Shareholders'
Equity
|
$
|
7,203,894
|
|
$
|
1,350,008
|
|
|
|
|
|
|