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Posted On: 08/21/2020 5:39:10 AM
Post# of 98226
$RXMD Consolidated net revenues for the three months ended June 30 totaled $9.2 million (for the six months ended June 30, $18.3 million), representing year-over-year growth of 32% (and 50% for the six-month period) compared to comparable periods in 2019
Prescriptions filled in Q2 topped 126,000 (and 258,000 in the six-month period), representing year-over-year growth of 23% in Q2 2020 (and 38% for the six-month period) compared to comparable periods in 2019
Income from services related to 340B Covered Entities increased over $420,000 compared to the previous six-month period, a 191% increase (314% increase in Q2 2020, quarter-over-quarter) totaling $640,000
Strong Cash position, boosted to over $2 million during Q2 2020
Positive cash flow from operations of over $764,000 for the six months ended June 30th, 2020
“Positive growth trends continued to define the metrics for Q2, with another across-the-board win in terms of our forecasts and benchmarks as Progressive Care continues to bloom into a major technology-driven force in the pharmacy services marketplace,” commented Alan J. Weisberg, Interim Chief Executive Officer. “Now, with approximately $2 million in cash, we look forward to the second half of the year, where we believe we will begin to see a larger impact from our higher-margin initiatives, including nationwide moves in TPA data analytics for our growing 340B client business. Along the way, we have picked up thousands of new prescriptions and providers in our core pharmacy business due to our logistics leadership during the healthcare crisis.”
https://www.barchart.com/story/stocks/quotes/...sh-on-hand
Prescriptions filled in Q2 topped 126,000 (and 258,000 in the six-month period), representing year-over-year growth of 23% in Q2 2020 (and 38% for the six-month period) compared to comparable periods in 2019
Income from services related to 340B Covered Entities increased over $420,000 compared to the previous six-month period, a 191% increase (314% increase in Q2 2020, quarter-over-quarter) totaling $640,000
Strong Cash position, boosted to over $2 million during Q2 2020
Positive cash flow from operations of over $764,000 for the six months ended June 30th, 2020
“Positive growth trends continued to define the metrics for Q2, with another across-the-board win in terms of our forecasts and benchmarks as Progressive Care continues to bloom into a major technology-driven force in the pharmacy services marketplace,” commented Alan J. Weisberg, Interim Chief Executive Officer. “Now, with approximately $2 million in cash, we look forward to the second half of the year, where we believe we will begin to see a larger impact from our higher-margin initiatives, including nationwide moves in TPA data analytics for our growing 340B client business. Along the way, we have picked up thousands of new prescriptions and providers in our core pharmacy business due to our logistics leadership during the healthcare crisis.”
https://www.barchart.com/story/stocks/quotes/...sh-on-hand
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