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Goodbody Health Inc. (OTCQB:GDBYF) reported its half-year financial results for 2022, showcasing a revenue increase of C$12.22 million compared to C$8.01 million in 2021, representing a 52% year-over-year growth. The gross profit also rose to C$5.98 million, reflecting a 38% increase despite a reduction in margin from 54% to 49%. The net comprehensive loss improved slightly to C$1.27 million. Goodbody continues expanding its clinic network, now totaling 235 clinics, aiming to enhance non-COVID testing revenue by the end of 2022.
Goodbody Health Inc. (CSE:GDBY)(OTCQB:GDBYF) has mailed proxy materials regarding its annual general meeting scheduled for August 9, 2022. Key proposals include de-listing from the Canadian Securities Exchange and re-domiciling to Guernsey, pending shareholder approval. The company plans a share consolidation where 10 shares will reduce to 1, impacting common shares, options, and warrants significantly. Goodbody intends to keep trading on the AQSE Growth Market and OTCQB in the U.S. The information circular is available on their website.
Goodbody Health Inc. (CSE:GDBY)(OTCQB:GDBYF) has announced the launch of new genetic testing for cancer and heart disease in partnership with Everything Genetic. These tests provide essential insights into individual health risks, enabling early detection and management. Four new tests include Polygenic Risk Score tests tailored for males and females, along with comprehensive genetic assessments for cancer and cardiac diseases. This initiative aims to support early intervention, potentially alleviating pressure on the UK National Health Service and enhancing patient outcomes.
Goodbody Health Inc. (CSE:GDBY)(OTCQB:GDBYF) announced its successful registration with the Care Quality Commission (CQC), enabling the Company to provide regulated diagnostic and screening services. This registration assures stakeholders of the safety and quality of Goodbody's health services. The company emphasizes compliance with CQC standards, ensuring effective healthcare delivered by well-trained staff. Executive Chairman Geremy Thomas highlighted that this milestone enhances customer confidence in their health services, promoting the message to ‘Know More, Live Better’.
Goodbody Health Inc. (CSE:GDBY) (OTCQB:GDBYF) announced plans to de-list from the Canadian Securities Exchange and re-domicile from British Columbia to Guernsey, subject to shareholder approval. This move aims to align its corporate structure with the company's strong presence in the U.K. and Europe, where growth is expected. The transition is intended to enhance visibility among European investors and reduce operational complexities. Shareholder interests will remain unchanged, and Goodbody will continue trading on the AQSE Growth Market and OTCQB.
Goodbody Health Inc. has launched a new UK Health Check, priced at £99, offering quick diabetes and cholesterol tests. The results, available in minutes, assess risks for cardiac problems or diabetes over the next decade. This initiative coincides with Type 2 Diabetes Prevention Week, addressing the significant issue of undiagnosed diabetes in the UK. Aiming for a national rollout, the health check will first be available in select pharmacies and Goodbody stores in Bath and Bristol, targeting the 67 million UK population.
Goodbody Health Inc. (CSE:GDBY, OTCQB:GDBYF) reported its highest comprehensive profit of £0.10m and adjusted EBITDA of £0.23m for Q1 2022, with revenue reaching £5.17m, up 276% from 2021. The revenue surge stems from the expansion of testing services, with over 180 clinics operational and significant growth from PCR bookings. Future wellness testing is anticipated to begin in Q2 and Q3, while the company has also gained novel food acceptance for its CBD products and secured a £1M asset funding facility for diagnostic equipment purchases.
Goodbody Health Inc. (CSE:GDBY) (OTCQB:GDBYF) reported positive financial results for the year ended December 31, 2021, highlighting an adjusted EBITDA of £0.48 million (C$0.83m). Revenue rose by 755% to £17.06 million (C$29.41m), the highest since inception, driven by clinic testing services. The gross profit increased by 695% to £8.93 million (C$15.39m) with a margin of 52%. The company is expanding its clinic network and services, achieving multiple accreditations. However, revenue from CBD products was below expectations, leading to strategic diversification.
Goodbody Health Inc. (CSE:GDBY)(OTCQB:GDBYF) announced that its subsidiary, PhytoVista Laboratories, has received a controlled drugs licence to manage Schedule 1 Controlled Drugs. This development follows UK regulatory efforts aimed at enhancing the cannabis product testing framework, moving towards a fully compliant market. PhytoVista is among a select group of UKAS-accredited labs allowed to perform these activities. CEO Geremy Thomas highlighted the significance of this achievement in promoting a reliable consumer cannabinoid market.
Goodbody Health has achieved a significant milestone as its application has moved to the next stage in the UK's Novel Foods submission process for CBD products, as published by the Food Standards Agency (FSA). The company is now in an 'Awaiting Evidence' status, pending final toxicology results. This advancement positions Goodbody Health favorably in a competitive CBD market, where compliance is essential. Their extraction facility is certified for quality assurance, ensuring high-quality products.
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