Q3 Sales Momentum, New Financing , Improved Supply Chain, Expanding
Product Development and Production.
SCOTTSDALE, AZ -- October 6,
2022 -- InvestorsHub NewsWire -- Electromedical Technologies, Inc.
("Electromedical" or the "Company"), a pioneer in the development
and production of bioelectronic devices designed to relieve
chronic, intractable, and acute pain through frequency and
electro-modulation, is pleased to provide the following shareholder
Performance data presented below represents provisional unaudited
information subject to revision.
Electromedical Founder and
CEO, Matthew Wolfson, remarked, "Overall we saw around
24% stronger topline performance on a sequential quarterly basis in
Q3, with additional orders in the pipeline for Q4.
was our strongest quarter of the year and the second strongest
quarter of sales since the pandemic started."
for the three months ended Sep 30, 2022
overall sales totaling approximately $280K, beating both Q1 and Q2
2022 sales. Third quarter sales increased 24% over Q2
highest quarterly revenue figure since Q1 2020. Same period sales
for Q3 2021 totaled approximately $301K.
approximately $900K in financing to expedite development of the new
distributors and clinics to drive wider market footprint and
bolster sales volume.
cost investment to secure key components and avoid supply chain
negotiations, factory ready for expanded production and negotiated
more favorable pricing and terms from suppliers.
exhibiting its flagship product (WellnessPro Plus) at the world
conference in the US (PAINWeek).
Management heads into Q4
with a confident outlook driven by strong sales momentum. Key
new sales representatives and clinics to expand and expedite
Wellness Pro market penetration.
shows paying off, exposure and increased interest.
product development milestones of Wellness Pro (to be announced in
of Wellness Pro unit to existing customers of the original legacy
unit is expected to start next year in Q2 to expedite cash flow
from existing customers.
"Q3 was solid, but we are
scaling the business right now and we know the real meat of the
process is still in front of us," continued Wolfson. "The OPIOID
overdose crisis continues to grow, people are increasingly
understanding the importance of seeking alternatives to OPIOIDS for
treating Pain. This is why our foucus is to continue to work on fundamentals and
invest in massively expanding our sales and distribution footprint
and maintain our market leading position in proprietary tech and
innovation in the non invasive, drug-free, pain-free
Headquartered in Scottsdale, Arizona, Electromedical Technologies,
Inc. is a commercial stage, FDA cleared, bioelectronic medical
device manufacturing company initially focused on the treatment of
various chronic, acute, intractable, and post-operative pain
conditions. Through University collaboration agreements, the
Company is working to develop a comprehensive research program in
defining the effects of electro-modulation on the human body. By
studying the impacts of electrical fields in cell signaling and
effects on virus assembly and immune responses, the Company's goal
is to reduce pain and improve overall human wellbeing. The
Company's current FDA cleared product indications are for chronic
acute post traumatic and post-operative, intractable pain
For more information, please
Note: Nonhuman preliminary
studies that we are planning to start in the near future and their
applications are not related to our current product in any way and
are currently not cleared in the US.
release contains forward-looking statements that are based upon
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release are not strictly historical, including statements as to
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EDM Media, LLC