HealthLynked Reports 47% Year-Over-Year Revenue Growth for Second Quarter 2021, 40% Growth Year-to-Date
August 17 2021 - 8:00AM
InvestorsHub NewsWire
HealthLynked Reports
47% Year-Over-Year Revenue Growth for Second Quarter 2021,
40%
Growth Year-to-Date
Naples, FL -- August 17, 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, reported its financial results for the three and six
months ended June 30, 2021. The Company's second quarter 2021
("2Q'21") results were excellent, with revenue up 47% compared to
second quarter 2020 and first half 2021 ("1H'21") revenue up 40%
over first half 2020 ("1H'20").
First Half 2021 Compared
to First Half 2020:
- 40% increase in revenue in 1H'21 compared to 1H'20, increasing
to $3,495,314 from $2,498,450
- Patient appointments in the Company's Health Services division
increased 18% from 7,562 in 1H'20 to 8,886 in 1H'21
- Time of Service collections increased 26% from $1,855,780 in
1H'20 to $2,343,358 in 1H'21
Second Quarter 2021
Compared to Second Quarter 2020:
- 47% increase in revenue in 2Q'21 compared to 2Q'20, increasing
to $1,710,620 from $1,161,510
- Patient appointments increased 29% from 3,375 in 2Q'20 to 4,348
in 2Q'21
- Time of Service collections increased 37% from $845,877 in
2Q'20 to $1,156,604 in 2Q'21
Second Quarter 2021
Compared to First Quarter 2021:
- 4% decrease in revenue in 2Q'21 compared to 1Q'21, decreasing
to $1,710,620 from $1,784,694
- Patient appointments decreased 4% from 4,538 in 1Q'21 to 4,348
in 2Q'21
- Time of Service collections decreased 3% from $1,186,754 in
1Q'21 to $1,156,604 in 2Q'21
"We are pleased that we were able to significantly grow patient
volume, time of service collections and revenue in our Health
Services division in second quarter compared to the same period
last year," stated Dr. Michael Dent CEO.
George O'Leary, HealthLynked CFO stated "Revenue was up 47% from
second quarter of last year and down only 4% from last quarter." He
continued, "We also wiped out $632k of current debt this quarter
without any cash outflow through PPP Loan forgiveness, further
improving our balance sheet. Our net equity maintained at $6.3
million for Q2 2021, leaving us in a strong position for our
planned uplisting during the second half of the year."
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
Three and Six Months Ended June 30, 2021
and 2020
|
Three
Months Ended June 30,
|
|
Six
Months Ended June 30,
|
|
|
2021
|
|
|
2020
|
|
|
2021
|
|
|
2020
|
Statement
of Operations Data
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total
revenue
|
$
|
1,710,620
|
|
$
|
1,161,510
|
|
$
|
3,495,314
|
|
$
|
2,498,450
|
Net loss
|
$
|
(505,764)
|
|
$
|
(1,517,848)
|
|
$
|
(8,329,217)
|
|
$
|
(2,098,064)
|
|
|
|
|
|
|
|
|
|
|
|
|
Net loss per share to
common stockholders, basic and diluted
|
$
|
(0.00)
|
|
$
|
(0.01)
|
|
$
|
(0.04)
|
|
$
|
(0.02)
|
Weighted average
number of common shares, basic and diluted
|
|
228,007,727
|
|
|
125,535,787
|
|
|
220,643,390
|
|
|
118,881,613
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Balance
Sheet Data
|
|
|
|
|
|
|
|
|
|
|
|
|
June
30, 2020
|
|
Dec.
31, 2019
|
|
|
|
|
|
|
Total
Assets
|
$
|
10,332,967
|
|
$
|
8,026,548
|
|
|
|
|
|
|
Total
Liabilities
|
$
|
4,030,734
|
|
$
|
6,676,540
|
|
|
|
|
|
|
Total Shareholders'
Equity
|
$
|
6,302,233
|
|
$
|
1,350,008
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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