HealthLynked Reports
Third
Consecutive
Quarter of
Record
Year-Over-Year
Revenue
Growth
of 131%
Naples,
FL -- March 31, 2020 -- InvestorsHub NewsWire
-- HealthLynked
Corp. (OTCQB:
HLYK),
a
provider of
healthcare-related
technology that
connects doctors,
patients and medical
data,
late
yesterday reported
its
financial
results
for the quarter and year
ended December 31, 2019, including a third straight quarter of
record year-over-year revenue growth.
Fourth Quarter 2019
Compared to Fourth Quarter
2018:
-
131%
increase
in revenue in
Q4'19
compared to
Q4'18,
increasing to $1,172,878 from $507,418 in Q4'18
-
Operating loss
decreased by 3% from $899,254 in Q4'18 to $871,882 in
Q4'19
-
Patient
appointments
increased
7%
from 3,753
in
Q4'18
to
4,006
in
Q4'19
-
Time of
Service collections
increased
659%
from $102,450
in
Q4'18
to
$777,895
in
Q4'19
Fourth Quarter 2019
Compared to Third Quarter
2019
-
Revenue
was flat in 4Q'19 at $1,172,878 compared to 3Q'19 revenue of
$1,172,560
-
Operating loss
increased by 7% from $815,691 in Q3'19 to $871,882 in
Q4'19
-
Patient
appointments decreased
5%
from 4,219 in Q3'19 to 4,006
in
Q4'19
-
Time of
Service collections
increased 1%
from $768,606 in Q3'19 to $777,895
in
Q4'19
Full Year
2019
Compared
to
2018:
-
78% increase in revenue to $4,018,818 in 2019
compared to $2,259,002 in 2018
-
Operating loss
increased by 8% from $2,972,146 in 2018 to $3,209,010 in
2019
-
Patient
appointments increased
4%
from 15,775
in 2018
to 16,409
in
2019
-
Time of
Service collections increased
350%
from $549,612
in 2018
to $2,475,377
in
2019
"Our
10-K
concludes
a very successful year for HealthLynked in which our company
grew 131%
in
the last quarter,
as compared to the same quarter last year, and
78% annually",
said Michael
Dent M.D.,
the Company's Chairman and CEO. "We
continue to grow
our
Health
Services division
and we have made significant progress in development
and
adoption of
the HealthLynked Healthcare
Network.
Perhaps
most
significant
is
our
contribution to tracking
COVID-19
and deploying the HealthLynked Network
on a global
scale. The HealthLynked COVID-19
tracker has
been the #1 trending
most
downloaded medical
app
in the Apple App
Store
with over approximately
1.65
million
downloads in
the past 3 weeks and
approximately
80,000
users in
the COVID-19 chat."
Dr.
Dent went on to say,
"The
HealthLynked Network
is
uniquely positioned to monitor patients' symptoms, connect them to
their healthcare providers and share important medical information
for all patients. Our
patient access hub
"PAH"
technology
allows
patients
to check in from their smart phones to
maintain
social distancing and
prevent
the
spread
of COVID-19."
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. 99
Investor
Relations Contacts:
Stephanie
Prince
PCG
Advisory Group
sprince@pcgadvisory.com
646-762-4518
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 2018
|
Year
Ended
December
31,
|
|
Three
Months Ended
December
31,
|
|
|
2019
|
|
|
2018
|
|
|
2019
|
|
|
2018
|
Statement
of Operations Data
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Patient
service revenue, net
|
$
|
4,018,818
|
|
$
|
2,259,002
|
|
$
|
1,172,877
|
|
$
|
507,418
|
Net
loss
|
$
|
(5,528,599)
|
|
$
|
(5,790,835)
|
|
$
|
(2,463,028)
|
|
$
|
(1,189,740)
|
|
|
|
|
|
|
|
|
|
|
|
|
Net
loss per share, basic and diluted
|
$
|
(0.06)
|
|
$
|
(0.07)
|
|
|
(0.02)
|
|
|
(0.01)
|
Weighted average
number of common shares, basic and diluted
|
99,059,677
|
|
|
78,816,272
|
|
|
106,349,355
|
|
|
84,924,547
|
|
|
|
|
|
|
|
|
|
|
|
|
Balance
Sheet Data
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
December
31, 2019
|
|
|
|
December
31,
2018
|
Total
Assets
|
|
|
$
|
|
2,546,554
|
|
|
|
$
|
|
427,363
|
Total
Liabilities
|
|
|
$
|
|
5,389,234
|
|
|
|
$
|
|
3,362,210
|
Total
Shareholders' Equity
|
|
|
$
|
|
(2,842,680)
|
|
|
|
$
|
|
(2,934,847)
|
|
|
|
|
|
|
|
|
|
|
|
|