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Posted On: 11/15/2024 3:35:35 PM
Post# of 155
NetworkNewsBreaks – HealthLynked Corp. Restructures for Growth, Reports Declines in Revenue and Increased Losses in Q3 2024
HealthLynked (OTCQB: HLYK) has announced its Q3 2024 financial results, reflecting a strategic shift toward software solutions and a leaner operational model. Revenue dropped 56% year-over-year to $0.59 million, attributed to disruptions from clinical restructuring efforts, while operating expenses fell 10% in Q3 and 19% year-to-date due to efficiency initiatives. However, the company reported a $1.97 million net loss for the quarter, primarily due to the absence of a one-time $1.08 million gain recorded in 2023. HealthLynked is pivoting away from traditional clinical operations, focusing on app-based services to expand its user base and enhance operational scalability.
NOTE TO INVESTORS: The latest news and updates relating to HealthLynked are available in the company’s newsroom at https://nnw.fm/HLYK
Please see full terms of use and disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or republished: http://NNW.fm/Disclaimer
HealthLynked (OTCQB: HLYK) has announced its Q3 2024 financial results, reflecting a strategic shift toward software solutions and a leaner operational model. Revenue dropped 56% year-over-year to $0.59 million, attributed to disruptions from clinical restructuring efforts, while operating expenses fell 10% in Q3 and 19% year-to-date due to efficiency initiatives. However, the company reported a $1.97 million net loss for the quarter, primarily due to the absence of a one-time $1.08 million gain recorded in 2023. HealthLynked is pivoting away from traditional clinical operations, focusing on app-based services to expand its user base and enhance operational scalability.
NOTE TO INVESTORS: The latest news and updates relating to HealthLynked are available in the company’s newsroom at https://nnw.fm/HLYK
Please see full terms of use and disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or republished: http://NNW.fm/Disclaimer
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