Form 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16]
August 16 2023 - 8:50AM
Edgar (US Regulatory)
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 6-K
REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO
RULE 13a-16 OR 15d-16
UNDER THE SECURITIES EXCHANGE ACT OF 1934
For the month of August 2023
Commission File Number 001-37381
MEDIGUS LTD.
(Translation of registrant’s name into English)
10 HaNechoshet Street Tel-Aviv, 6971072, Israel
(Address of principal
executive offices)
Indicate by check mark whether the registrant files or will file annual
reports under cover Form 20-F or Form 40-F.
Form 20-F ☒ Form
40-F ☐
EXPLANATORY NOTE
On August 16, 2023, Medigus
Ltd. issued a press release titled: “Medigus: Viewbix Reports its Condensed Consolidated Financial Results for the First Half and
the Second Quarter of 2023 with Revenues Totaling $48 Million for the First Half of 2023.” A copy of this press release is furnished
herewith as Exhibit 99.1
EXHIBIT INDEX
SIGNATURE
Pursuant to the requirements
of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto
duly authorized.
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MEDIGUS LTD. |
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Date: August 16, 2023 |
By: |
/s/ Tali Dinar |
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Tali Dinar |
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Chief Financial Officer |
3
Exhibit 99.1
Medigus: Viewbix Reports its Condensed Consolidated
Financial
Results for the First Half and the Second Quarter of 2023 with
Revenues Totaling $48 Million for the First Half of 2023
Tel Aviv, Israel, Aug. 16, 2023 (GLOBE NEWSWIRE)
-- Medigus Ltd. (Nasdaq: MDGS), a technology company engaged in advanced medical solutions, innovative internet technologies
and electric vehicle and charging solutions, announced today that Viewbix Inc. (henceforth “Viewbix”) (OTC: VBIX), 76% owned
by Medigus’ subsidiary Gix Internet, (henceforth “Gix”) (42.25% owned by Medigus) (TASE: GIX), a global marketing technology
(MarTech) solutions company for online performance-based-marketing, reported its interim consolidated financial results for the first
half and the second quarter of 2023, highlighted by $48 million in revenue for the first half of 2023.
Viewbix’s second quarter results of 2023
underscore Viewbix’s continued growth, demonstrated by an 18.5% increase in revenues as compared to its second quarter in 2022.
Other key highlights for the first half and the
second quarter of 2023 include:
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Revenues for the first half of 2023 reached $48,016 thousand as compared to $43,337 thousand for the same period last year. The increase of 10.8% in revenues was driven by $37,064 thousand from Viewbix’s digital content platform and $10,952 thousand from Viewbix’s search platform. In the second quarter of 2023, revenues amounted to $27,154 thousand, an increase of 18.5% as compared to the second quarter of 2022. |
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Operating Income for the first half of 2023 was $174 thousand as compared to $980 thousand in the first half of 2022. In the second quarter of 2023, operating income amounted to $250 thousand as compared to operating income of $761 thousand in the second quarter of 2022. |
The reasons for the decrease in operating
income are mainly due to: (1) an increase in general and administrative expenses following the reorganization transaction with Gix Media
Ltd. on September 19, 2022 in the amount of approximately $600 thousand in the first half of 2023 and $300 thousand in the second quarter
of 2023, as compared to the same periods in 2023; (2) during the second quarter of 2023, there was a decrease in the operational profit
of the digital content platform, which is mainly a result of an increase in the traffic-acquisition costs in relation to revenues, and
an increase of selling and marketing expenses during the first half of 2023, mainly due to expenses incurred in connection with the increase
in the content displayed in the digital content platform; and (3) the decrease in operational profit of the digital content platform was
offset by an increase in the operational profit of the search platform, amounting to a total of $766 thousand in the first half of 2023,
as compared to a total of $169 thousand in the corresponding half of the previous year.
| ● | EBITDA (Earnings Before Interest, Taxes, Depreciation, Amortizations) for the first half of 2023
amounted to $1,642 thousand as compared to $2,295 thousand for the corresponding period in 2022. For the second quarter of 2023, EBITDA
amounted to $984 thousand as compared to $1,490 thousand for the corresponding period in 2022. |
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Net cash from operating activities for the first half of 2023 amounted to $1,015 thousand compared to $598 thousand in the first half of 2022. |
About Medigus
Based in Israel, Medigus
Ltd. (Nasdaq: MDGS) is a technology company focused on innovative growth partnerships, mainly in advanced medical solutions, digital commerce
and electric vehicle markets. Medigus’ affiliations in the medical solutions arena include ownership in Polyrizon Ltd.. The Company’s
affiliates in digital commerce include Gix Internet Ltd., Jeffs’ Brands Ltd. and Eventer Technologies Ltd. In the electric vehicle market,
Charging Robotics Ltd. and Revoltz Ltd. by way of Fuel Doctor Holdings, Inc., are also part of the Company’s portfolio of technology
solution providers. Medigus is traded on the Nasdaq Capital Market. To learn more about Medigus’ advanced technologies, please visit http://www.medigus.com/.
Cautionary Note Regarding Forward Looking
Statements
This press release contains
forward-looking statements within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform
Act of 1995 and other Federal securities laws. Words such as “expects,” “anticipates,” “intends,”
“plans,” “believes,” “seeks,” “estimates” and similar expressions or variations of such
words are intended to identify forward-looking statements. Because such statements deal with future events and are based on Medigus’
current expectations, they are subject to various risks and uncertainties, and actual results, performance or achievements of Medigus
could differ materially from those described in or implied by the statements in this press release.
The forward-looking statements
contained or implied in this press release are subject to other risks and uncertainties, including those discussed in any filings with
the SEC. Except as otherwise required by law, Medigus undertakes no obligation to publicly release any revisions to these forward-looking
statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. References and
links to websites have been provided as a convenience, and the information contained on such websites is not incorporated by reference
into this press release. Medigus is not responsible for the contents of third-party websites.th
Company Contact:
Tali Dinar
Chief Financial Officer
+972-8-6466-880
ir@medigus.com
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