HealthLynked
Reports Second Quarter 2022 Results
Revenue increase
of 3% from Q1 22 to Q2 22 and 67% decrease in net losses from
($8.33) Million in the first half of 2021 to ($2.76) million in the
first half of 2022
Naples, FL -- August 16, 2022 --
InvestorsHub NewsWire -- HealthLynked Corp.
(OTCQB: HLYK), ("HealthLynked"
or the "Company"), 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 second quarter and first half of
2022.
Second
Quarter 2022 Financial Results
For the second quarter 2022,
HealthLynked reported revenue of $1.65 million, compared to $1.71
million in the second quarter of 2021. The Naples Women's Center
subsidiary experienced physician turnover that led to reduced
revenues due to normal time required to establish a new physician
and enroll in healthcare plans. Functional Medicine along with the
acquisition of Aesthetics Enhancements Unlimited in May 2022 showed
a 15% increase in year-over-year patient revenues.
Net losses increased from ($0.51)
million in second quarter 2021 to ($1.59) million in second quarter
2022 due primarily to a $0.63 million one-time gain from the
forgiveness of government loans in 2021 and a $0.18 million higher
non-cash gains in 2021 from the change in fair value of contingent
acquisition consideration associated with earn-out features prior
earlier acquisitions. Compared to the first quarter of 2022,
revenue increased from $1.60 million to $1.65 million and net loss
increased from ($1.17) million to ($1.59)
million.
Shareholders' equity was $4.80
million as of June 30, 2022.
Year-to-Date
2022 Financial Results
For the first half of 2022,
HealthLynked reported revenue of $3.26 million, compared to $3.50
million in the first half of 2021. Net losses were down 67% from ($8.33) Million
in the first half of 2021 to ($2.76) million in the first half of
2022.
Dr. Michael Dent, HealthLynked's
Chairman and Chief Executive Officer, stated, "During the second
quarter, we acquired Aesthetics Enhancements Unlimited to add to
our portfolio of Health Services locations and our captive patient
base.
We continue to invest in the
development of the HealthLynked Network with major advancements in
our software platform. We plan to launch our pay service for
Healthlynked members next quarter and integrate our services into
the HealthLynked mobile application."
George O'Leary, HealthLynked's
Chief Financial Officer, added, "To avoid future gaps in physician
coverage we are very pleased to have signed Dr. Eduardo Maristany
to an early 2-year extension through May 2025. We also have hired
Dr. Sakr, a new physician, who will be joining The Naples Center of
Functional Medicine. We plan to focus our attention on a concierge
model for both The Naples Center of Functional Medicine and Naples
Women's Center. HealthLynked's wide range of healthcare services
provide an opportunity to offer a more comprehensive healthcare
solution that will significantly increase future health service
revenues."
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, Instagram,
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.
Investor
Relations Contacts:
HLYK
Contact:
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
HealthLynked
Corp.
Selected
Consolidated Financial Data
Three and Six
Months Ended June 30, 2022 and 2021
|
Three Months
Ended June 30,
|
|
Six Months
Ended June 30,
|
|
|
|
2022
|
|
|
2021
|
|
|
2022
|
|
|
2021
|
Statement of
Operations Data
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total revenue
|
$
|
1,648,531
|
|
$
|
1,710,620
|
|
$
|
3,255,403
|
|
$
|
3,495,314
|
Net loss
|
$
|
(1,589,821)
|
|
$
|
(505,764)
|
|
$
|
(2,757,944)
|
|
$
|
(8,329,217)
|
|
|
|
|
|
|
|
|
|
|
|
|
Net loss per share to common
stockholders, basic and diluted
|
$
|
(0.01)
|
|
$
|
(0.00)
|
|
$
|
(0.01)
|
|
$
|
(0.04)
|
Weighted average number of common
shares, basic and diluted
|
|
238,595,764
|
|
|
228,007,727
|
|
|
238,304,228
|
|
|
220,823,912
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Balance Sheet
Data
|
|
|
|
|
|
|
|
|
|
|
|
|
June 30,
2022
|
|
Dec. 31,
2021
|
|
|
|
|
|
|
Total Assets
|
$
|
7,918,802
|
|
$
|
10,694,556
|
|
|
|
|
|
|
Total Liabilities
|
$
|
3,114,201
|
|
$
|
3,490,662
|
|
|
|
|
|
|
Total Shareholders'
Equity
|
$
|
4,804,601
|
|
$
|
7,203,894
|
|
|
|
|
|
|
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