Welcome to our dedicated page for CLOUD DX news (Ticker: CDXFF), a resource for investors and traders seeking the latest updates and insights on CLOUD DX stock.
Cloud DX (CDXFF) is a prominent North American digital health platform and provider of remote patient monitoring solutions. The company saw a significant increase in total revenue, subscription revenue, and gross profit in FY2023. Cloud DX offers a Connected Health remote patient monitoring platform that is used by healthcare enterprises to manage chronic diseases, enable aging in place, and deliver post-surgical care at home. The company has secured multiple contracts with provincial health authorities in Canada, including Ontario, Yukon, Prince Edward Island, and British Columbia, highlighting its growing presence in the digital healthcare space.
Cloud DX (CDXFF) reports its fiscal Q3 2021 results with overall revenue down 4%, but subscription revenue rising 22%. New partnerships are expected to expand access to 27,000 patients. However, the company faced significant cost pressures due to a 120% increase in operating expenses and a 98% decrease in adjusted EBITDA, primarily due to one-time costs from a Qualifying Transaction. The subscription revenue for the first nine months increased by 22%, but product revenue showed variability compared to the previous year.
Cloud DX (TSXV:CDX) (OTCQB:CDXFF) announced a webinar scheduled for December 8, 2021, to discuss its financial Q3 results and updates on its Virtual Care as a Platform. The company reported significant growth, exceeding access to over 1 million patients through recent contracts, aiming for 9,000 patients onboarded to achieve cash flow positivity. CEO Robert Kaul highlighted expanding programs like Patient First™ and Chronic Disease Management, marking a promising future for the company in remote healthcare delivery.
Cloud DX has secured $170,000 CAD in non-dilutive funding to advance its AI-powered health technology innovations, including its patented Connected Health platform. The awards, including $120,000 from the Synergy Award by NSERC and $50,000 from the Ontario Centre for Innovation, will support the commercialization of groundbreaking solutions aimed at enhancing healthcare delivery. The funding will enable the company to further research the impact of remote care on patient outcomes and healthcare cost savings, reinforcing its commitment to innovative healthcare solutions.
Cloud DX (TSXV:CDX) has launched its Maternal Health Track (MHT) program on babydoppler.com, targeting 600,000 potential customers annually. The program assists expectant mothers in monitoring blood pressure, addressing the growing incidence of maternal hypertension, which now affects 1 in 12 pregnancies. Initial feedback from high-risk pregnancy patients has been exceptionally positive. The company anticipates significant sales growth in the coming quarters, aiming for over 9,000 enrolled patients in its various channels.
Cloud DX has launched its Patient-FirstTM program, aiming to serve 1 in 3 Americans with serious chronic illnesses. This program builds on their existing contracts with Dagamma, Prizm Media, and Maxwell Telecare, expanding their reach across six states and targeting an initial enrollment of 9,000 patients. The program aims to improve patient outcomes and potentially double enrollment rates in Tennessee and Georgia where they engage around 500 patients. With current reimbursement codes, Cloud DX anticipates achieving positive cash flow with this initiative.
Cloud DX (TSXV:CDX)(OTCQB:CDXFF) is a leader in Virtual Care as a Platform technology, enhancing healthcare delivery. CEO Robert Kaul will speak at key events, including the CEM Florida Capital Event on November 20, 2021, and a Virtual Care Webinar on December 8, 2021. The company aims for sustainable growth through recent contracts and innovations, leveraging its Connected Health™ platform for improved patient outcomes. Cloud DX is recognized with multiple awards for excellence in telehealth.
Cloud DX has partnered with the University of Waterloo to enhance patient care for neurological disorders using its Connected Health TM Virtual Care Platform. The contract aims to impact hundreds of patients by collecting vital health data at home, supplementing in-clinic assessments. This initiative, starting in early 2022, addresses the needs of 1 in 6 people affected by neurological disorders like stroke and dementia. Cloud DX's platform is designed to personalize treatment, offering improved health outcomes and better patient management.
Cloud DX (CDXFF) reports promising results from a study in Mozambique utilizing the AcuScreen tool for tuberculosis (TB) screening via AI analysis of cough recordings. This preliminary trial, led by Dr. Celso Khosa, met and exceeded WHO's requirements for community-based TB triage. With TB causing 1.4 million deaths annually, AcuScreen offers a cost-effective and portable solution for diagnosing the disease in low-resource settings. The project, supported by Qualcomm and the Roddenberry Foundation, exemplifies a significant breakthrough in mobile health technology aimed at tackling the global TB crisis.
Cloud DX announced the results of a national study validating remote patient monitoring (RPM) using its Connected Health™ platform. The PVC-RAM 1 study demonstrated a 24% reduction in medication errors, 14% fewer pain reports, and 5% lower re-admission rates among over 900 patients post-surgery. This innovative approach addresses ongoing healthcare challenges exacerbated by COVID-19, enhancing patient outcomes and healthcare delivery efficiency. The findings may drive broader adoption of RPM in Canada and the US.
Cloud DX Inc. (TSXV:CDX) has successfully closed a brokered private placement led by Echelon Wealth Partners. The offering raised $2,192,000 by issuing 2,192 units, each consisting of a C$1,000 unsecured convertible debenture and 1,430 warrants. The debentures mature in 36 months with a 10% annual interest rate and can be converted at C$0.35 per share. The funds will be used for sales, marketing, R&D, and working capital. All securities are subject to a four-month hold period. Final approval from the TSX Venture Exchange is pending.
FAQ
What is the current stock price of CLOUD DX (CDXFF)?
What is the market cap of CLOUD DX (CDXFF)?
What is Cloud DX?
What are some key highlights of Cloud DX's performance?
What products does Cloud DX offer?
Which provincial health authorities in Canada has Cloud DX partnered with?
What is the mission of Cloud DX?
