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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 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.
Cloud DX (TSXV:CDX)(OTCQB:CDXFF) has appointed Simon Selkrig as Chief Financial Officer, enhancing its leadership team amid expansion plans for its Connected Health platform across North America. With over 20 years of finance experience in diverse sectors, Selkrig will oversee finance, tax, capital, and investor relations. The previous CFO, Stephanie Bird, remains as an Executive Consultant. CEO Robert Kaul expressed confidence in Selkrig’s expertise, particularly in e-commerce and mergers & acquisitions. The next investor update is scheduled for October 12, 2021.
Cloud DX has launched a patient-first program in collaboration with Prizm Media to enhance access to remote patient monitoring (RPM) for individuals with chronic illnesses across the US, specifically targeting states like Illinois, New Jersey, and Florida. The program aims to connect up to 2,000 seniors to Cloud DX's Connected HealthTM platform, potentially generating US$1.4 million in annual revenue at a 75% gross margin. The partnership will streamline enrollment processes, benefiting healthcare accessibility for patients in need.
Cloud DX announces that Dr. Sonny Kohli, the Chief Medical Officer, will join the IEEE SA Telehealth IC Working Groups to help create global standards for telehealth. This participation reflects the company's innovation in virtual care, influencing how new technologies are approved by regulatory bodies like Health Canada and the US FDA. Additionally, CFO Stephanie Bird will leave the company effective September 30, 2021, for a new opportunity, prompting a search for a new CFO.
Cloud DX (TSXV:CDX)(OTCQB:CDXFF) has announced its common shares are now eligible for electronic clearing and settlement through The Depository Trust Company (DTC) in the United States. This DTC eligibility will enhance the liquidity of Cloud DX's stock by speeding up trade execution and simplifying share transfers between brokerages. CEO Robert Kaul emphasized that it marks a significant step in building a strong presence in U.S. capital markets. Their remote patient monitoring platform aims to improve healthcare outcomes across North America.
Cloud DX (TSXV:CDX)(OTCQB:CDXFF) reported its second-quarter results for fiscal 2021, highlighting a notable 39% increase in subscription revenue year-to-date and 90% growth for the last three months. Total revenue increased 8% year-to-date, but saw a 40% decline over the past three months due to a significant hardware deployment last year. Gross profit surged 184% year-to-date, despite a 115% rise in operating expenses for the quarter from stock compensation re-evaluation.
Cloud DX (TSXV:CDX)(OTCQB:CDXFF) will host a live webcast to discuss its 2021 Second Quarter Results on August 17, 2021, at 1:30 PM EST. CEO Robert Kaul will provide insights into the company's performance and future outlook. Cloud DX is recognized for its remote patient monitoring solutions, enhancing healthcare delivery and patient outcomes while reducing hospitalizations. The company has received multiple accolades, including the Qualcomm Tricorder XPRIZE and a 2021 Edison Award.
Cloud DX has announced a new revenue sharing partnership with Dagamma to help expectant mothers monitor hypertension during pregnancy. The collaboration aims to provide a guided self-care program, integrating a Cloud DX wireless blood pressure cuff and app via Dagamma's eCommerce platforms, including babydoppler.com and other major retailers.
This partnership targets a market where hypertensive disorders complicate about 10% of pregnancies, addressing a significant health issue linked to maternal and perinatal mortality.
Cloud DX (TSXV:CDX)(OTCQB:CDXFF) announced its second-quarter operating results will be released on August 16, 2021, followed by a live webcast on August 17, 2021, at 1:30 pm ET with CEO Robert Kaul. The company has engaged Generation IACP INC. for market-making services and Mercova Capital for investor relations, focusing on enhancing liquidity and market awareness. The market maker will receive $7,500 monthly, while the IR specialist will earn $3,500 monthly, both subject to a 30-day termination notice.
Cloud DX (TSXV:CDX)(OTCQB:CDXFF) will present at the Virtual Investor Conference on August 5, 2021, at 3:30 PM EST. CEO Robert Kaul will discuss "Raising the Bar in Remote Medical Care" in a pre-recorded session that allows for post-conference Q&A. Participation is encouraged through pre-registration. Additionally, the company has opened registration for its investor update and earnings call scheduled for August 17, 2021, at 1:30 PM EST. Cloud DX aims to enhance healthcare delivery through its remote patient monitoring platform.
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