HealthLynked Reports Quarterly Revenue Growth of 33% and an Improvement of Net Shareholder Equity of $8.4M from Q1 2020
May 18 2021 - 8:00AM
InvestorsHub NewsWire
HealthLynked Reports
Quarterly
Revenue
Growth
of
33%
and
an
Improvement of
Net
Shareholder
Equity
of
$8.4M
from Q1 2020
Naples, FL
-- May
18, 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 ended
March
31,
2021.
The
company reported year-over-year
33% revenue growth
and
net
shareholders' equity improvement of
$8.4
million.
The
company improved from
$2.2
million
negative
net
equity at the end of
Q1
2020 to
positive
net
equity of
$6.2
million
at
the end
of Q1 2021.
First
Quarter 2021
Compared to
First
Quarter 2020:
-
33% increase in
revenue in
Q1'21 compared to
Q1'20, increasing to
$1,784,694
from
$1,336,940
in
Q1'20
-
Net
equity of $6,165,633
in
Q1'21 compared to
a
shareholders''
deficit of $2,227,449
in
Q1 2020, an improvement of
$8,393,082
-
Operating
loss increased 197%
from $527,634
in
Q1'20
to
$1,567,925
in
Q1'21, mainly due to
non-cash compensation and professional fees from significant
activities during Q1
2021, an estimated
35%
of which
is expected to be
non-recurring.
-
Net
loss
increased by
1,248% from
$580,216
in
Q1'20
to
$7,823,453
in
Q1'21
mainly
due
to a $5.6 million
non-cash
loss related to the
conversion of the Company's last remaining convertible debt into
equity and
a $0.6
million non-cash loss from change in the fair value of contingent
acquisition consideration driven primarily by the increase in the
Company's stock price during Q1' 21.
-
Patient
appointments
increased
8% from
4,187
in
Q1'20
to
4,538
in
Q1'21
-
Time of
Service collections
improved
17% from
$1,010,644
in
Q1'20
to
$1,186,754
in
Q1'21
First Quarter 2021
Compared to Fourth Quarter 2020:
-
Revenue
increased by 12% from
$1,594,515
in
Q4'20
to
$1,784,694
in
Q1'21
-
Net
Equity of $6,165,633, compared to $1,350,008 in Q4 20, an
improvement of $4,815,625, or 357%
-
Operating
loss increased by
49% from
$1,051,103
in
Q4'20
to
$1,567,925
in
Q1'21
-
Patient
appointments increased
27% from
3,564
in
Q4'20
to
4,538
in
Q1'21
-
Time
of
Service collections increased 19% from
$1,001,312
in
Q4'20
to
$1,186,754
in
Q1'21
"Our
10-Q concludes a very
successful quarter
for
HealthLynked with
33% revenue
growth
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
$8.4
million
compared
to Q1 2020 and an improvement of $4.8 million just since the end of
last year.
Dr. Dent
went on to say,
"We
are very excited about our recent
launch
of
DocLynk, our
Telemedicine
service
in April
2021 and the launch of our virtual summit for those that couldn't
attend our Annual Event."
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 12 months,
and
with $6.1
million
in net equity at the
end of
first quarter 2021, and our recently
approved $50 million shelf registration, we believe
HealthLynked is in a great position
for our planned uplisting to NASDAQ
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
Quarters
Ended
March
31,
2021
and
2020
|
|
|
Three
Months Ended March 31,
|
|
|
2021
|
|
|
2020
|
Statement
of Operations Data
|
|
|
|
|
|
|
|
|
|
|
|
Total
revenue
|
$
|
1,784,694
|
|
$
|
1,336,940
|
Net loss
|
$
|
(7,823,453)
|
|
$
|
(580,216)
|
|
|
|
|
|
|
Net loss per share to
common stockholders, basic and diluted
|
$
|
(0.04)
|
|
$
|
(0.01)
|
Weighted average
number of common shares, basic and diluted
|
|
213,279,052
|
|
|
114,601,960
|
|
|
|
|
|
|
|
|
|
|
|
|
Balance
Sheet Data
|
|
|
|
|
|
|
Mar.
31, 2021
|
|
Dec.
31, 2019
|
Total
Assets
|
$
|
11,019,897
|
|
$
|
8,026,548
|
Total
Liabilities
|
$
|
4,854,264
|
|
$
|
6,676,540
|
Total Shareholders'
Equity
|
$
|
6,165,633
|
|
$
|
1,350,008
|
|
|
|
|
|
|
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