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 has secured its sixth Community Paramedicine contract in Ontario, enhancing its Connected Health program. The latest contract aims to deploy over 1,000 monitoring kits funded by an $82 million program from the Ontario government. The initial funding for the deployment is up to $200,000 CAD over 24 months. This partnership not only aims to lower hospital admissions but also to support at-home care for vulnerable patients. An upcoming earnings call on November 16, 2022 will provide further insights into corporate initiatives and performance.
Cloud DX (TSXV:CDX)(OTCQB:CDXFF) will release its Q3 financial results on November 16, 2022, after market open. CEO Robert Kaul will host an earnings call at 12 PM EDT to discuss the results and strategic developments, including partnerships with Teladoc and Medtronic. The company aims to enhance patient outcomes and reduce healthcare costs through its Connected Health remote patient monitoring platform.
Cloud DX (CDXFF) has partnered with Medioh to enhance digital health services for clinics and healthcare systems across North America.
This collaboration aims to optimize inventory management and enable efficient scaling of remote patient monitoring (RPM) services.
With Cloud DX’s established RPM platform and Medioh’s logistical expertise, the partnership is expected to improve patient care and health outcomes while ensuring compliance with regulations.
Cloud DX announces the purchase of 160 additional Connected Health™ kits by Oxford County Paramedic Services to enhance its Community Paramedicine Remote Care Monitoring program. This expansion aims to meet the increasing demand for remote patient monitoring services for vulnerable populations. The total contract value is estimated at up to $325,000 CAD through March 2024. The expansion is part of a larger initiative fueled by an $82 million investment from the Ontario government.
Cloud DX Inc. (TSXV:CDX)(OTCQB:CDXFF) announced plans to complete a non-brokered private placement of 1,800 secured convertible debentures for up to $1.8 million. Each debenture is priced at $1,000, maturing in 18 months, with an interest rate of 18%. The proceeds will be used for inventory and general working capital. The offering is subject to TSX Venture Exchange approval, and the debentures will be convertible into common shares at C$0.16 per share. A statutory hold period of four months and one day applies to the securities issued.
Cloud DX (TSXV:CDX) (OTC:CDXFF) participated in the Opportunity Collaborative (OC) Impact 2022 in the Dominican Republic, bringing together 550 global delegates to address health, inequality, and poverty. CEO Robert Kaul introduced new technologies, including the AcuScreen™ app for tuberculosis detection. The company is part of the XPRIZE alumni, showcasing its innovative healthcare solutions. With increasing investments in respiratory diagnostics, this event highlighted Cloud DX's commitment to improving global healthcare access, especially in COVID-19 and Tuberculosis affected regions.
Cloud DX has partnered with CBI Health to launch a new at-home care service, marking a significant milestone in Canadian healthcare. This partnership allows patients to be discharged earlier while maintaining high-quality care at home, which eases the burden on hospitals. The initial contract focuses on enhancing services for clients of Equitable Life of Canada, offering 24/7 monitoring for critical illness claimants. The collaboration aims to streamline care implementation, improve patient outcomes, and reduce healthcare costs, benefiting both healthcare systems and patients.
Cloud DX (CDXFF) announced the appointment of Dr. Gaurav Puri to its board of directors on September 1, 2022. Dr. Puri, the Chief of Emergency Medicine at Southlake Regional Health Centre, brings over 11 years of emergency medicine experience and a robust academic background, including a Doctor of Medicine from the University of Western Ontario. This change follows Co-founder Dr. Sonny Kohli's transition to lead Medical and Regulatory affairs at Roche Canada. His departure will see him step down as Chief Medical Officer but remain a Medical Co-founder.
Cloud DX is set to present at the Emerging Growth Conference on August 31, 2022, showcasing its partnership with Teladoc Health for integrated remote patient monitoring (RPM) solutions.
CEO Robert Kaul will discuss the implications of this collaboration and other initiatives, including an exclusive partnership with Medtronic.
This event provides a platform for investor interaction and insight into the Company's advancements in digital healthcare.
Cloud DX (CDXFF) reported a 158% increase in new commercial contracts and a 54.8% reduction in net loss for Q2 2022, despite a 9.7% decline in total revenue to $242,225 due to COVID-related impacts on subscription revenue. Product revenue, however, rose 16.4% year-over-year. Total revenue for the first half of 2022 decreased 11.1% compared to the same period in 2021, largely due to lower subscription revenues. Government grants surged 601.7% compared to Q2 2021, reflecting improved funding dynamics. Overall, operating expenses decreased significantly, indicating enhanced operational efficiency.
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?
