HealthLynked Corp. Announces Second Quarter and First Half 2024 Results: Continued Cost Reductions Set the Stage for Strategic Shift to App-Based Technology Services
HealthLynked Corp. (OTCQB: HLYK) reported its Q2 and H1 2024 financial results, highlighting a strategic shift towards app-based technology services. Key points include:
- Q2 2024 revenue of $0.78 million, down 21% from Q1 2024 and 53% from Q2 2023
- H1 2024 revenue of $1.80 million, down 48% from H1 2023
- 42% reduction in Health Services Division operating expenses in Q2 2024
- 8% improvement in loss from operations in Q2 2024 compared to Q1 2024
- Expansion of telemedicine services nationwide
- Partnership with RxSpark for prescription drug discounts
The company is focusing on cost reduction and transitioning from clinical operations to app-based services, aiming to expand its membership base and enhance healthcare delivery.
HealthLynked Corp. (OTCQB: HLYK) ha riportato i risultati finanziari del Q2 e H1 2024, evidenziando un cambiamento strategico verso servizi tecnologici basati su app. I punti chiave includono:
- Ricavi del Q2 2024 pari a 0,78 milioni di dollari, in calo del 21% rispetto al Q1 2024 e del 53% rispetto al Q2 2023
- Ricavi dell'H1 2024 pari a 1,80 milioni di dollari, in calo del 48% rispetto all'H1 2023
- Riduzione del 42% delle spese operative nella Divisione Servizi Sanitari nel Q2 2024
- Miglioramento dell'8% nelle perdite da operazioni nel Q2 2024 rispetto al Q1 2024
- Espansione dei servizi di telemedicina a livello nazionale
- Collaborazione con RxSpark per sconti su farmaci prescritti
L'azienda si sta concentrando sulla riduzione dei costi e sulla transizione dalle operazioni cliniche ai servizi basati su app, con l'obiettivo di espandere la propria base di membri e migliorare la consegna delle cure sanitarie.
HealthLynked Corp. (OTCQB: HLYK) reportó sus resultados financieros del Q2 y H1 2024, destacando un cambio estratégico hacia servicios tecnológicos basados en aplicaciones. Los puntos clave incluyen:
- Ingresos del Q2 2024 de $0.78 millones, una disminución del 21% en comparación con el Q1 2024 y del 53% en comparación con el Q2 2023
- Ingresos del H1 2024 de $1.80 millones, una disminución del 48% en comparación con el H1 2023
- Reducción del 42% en los gastos operativos de la División de Servicios de Salud en el Q2 2024
- Mejora del 8% en las pérdidas por operaciones en el Q2 2024 en comparación con el Q1 2024
- Expansión de los servicios de telemedicina a nivel nacional
- Asociación con RxSpark para descuentos en medicamentos prescritos
La empresa se está enfocando en la reducción de costos y en la transición de las operaciones clínicas a servicios basados en aplicaciones, con el objetivo de expandir su base de miembros y mejorar la entrega de atención médica.
HealthLynked Corp. (OTCQB: HLYK)는 2024년 2분기 및 상반기 재무 결과를 보고하며 앱 기반 기술 서비스로의 전략적 전환을 강조했습니다. 주요 요점은 다음과 같습니다:
- 2024년 2분기 수익 78만 달러, 2024년 1분기 대비 21% 감소, 2023년 2분기 대비 53% 감소
- 2024년 상반기 수익 180만 달러, 2023년 상반기 대비 48% 감소
- 2024년 2분기 건강 서비스 부문 운영 비용 42% 감소
- 2024년 2분기 운영 손실 2024년 1분기 대비 8% 개선
- 전국적으로 원격 의료 서비스 확대
- 처방약 할인 제공을 위한 RxSpark와의 파트너십
회사는 비용 절감에 집중하고 임상 운영에서 앱 기반 서비스로 전환하여 회원 기반을 확장하고 의료 서비스를 개선하는 것을 목표로 하고 있습니다.
HealthLynked Corp. (OTCQB: HLYK) a publié ses résultats financiers pour le Q2 et le H1 2024, mettant en lumière un changement stratégique vers des services technologiques basés sur des applications. Les points clés comprennent :
- Revenus du Q2 2024 de 0,78 million de dollars, en baisse de 21 % par rapport au Q1 2024 et de 53 % par rapport au Q2 2023
- Revenus du H1 2024 de 1,80 million de dollars, en baisse de 48 % par rapport au H1 2023
- Réduction de 42 % des frais d'exploitation de la division des services de santé au Q2 2024
- Amélioration de 8 % des pertes d'exploitation au Q2 2024 par rapport au Q1 2024
- Expansion des services de télémédecine à l'échelle nationale
- Partenariat avec RxSpark pour des réductions sur les médicaments sur ordonnance
L'entreprise se concentre sur la réduction des coûts et la transition des opérations cliniques vers des services basés sur des applications, visant à élargir sa base de membres et à améliorer la fourniture des soins de santé.
HealthLynked Corp. (OTCQB: HLYK) hat seine finanziellen Ergebnisse für das Q2 und H1 2024 veröffentlicht und dabei einen strategischen Wandel hin zu app-basierten Technologiediensten hervorgehoben. Wichtige Punkte sind:
- Q2 2024 Umsatz von 0,78 Millionen Dollar, das ist ein Rückgang von 21% im Vergleich zum Q1 2024 und 53% im Vergleich zum Q2 2023
- H1 2024 Umsatz von 1,80 Millionen Dollar, das ist ein Rückgang von 48% im Vergleich zu H1 2023
- Betriebskosten der Gesundheitsdienstleistungen im Q2 2024 um 42% gesenkt
- Verbesserung des Betriebsverlusts im Q2 2024 um 8% im Vergleich zu Q1 2024
- Ausbau der Telemedizin-Dienste auf nationaler Ebene
- Partnerschaft mit RxSpark für Rabatte auf rezeptpflichtige Medikamente
Das Unternehmen konzentriert sich auf Kostensenkungen und den Übergang von klinischen Operationen zu app-basierten Dienstleistungen, mit dem Ziel, die Mitgliederzahl zu erweitern und die Gesundheitsversorgung zu verbessern.
- 42% reduction in Health Services Division operating expenses in Q2 2024 compared to Q2 2023
- 8% improvement in loss from operations in Q2 2024 compared to Q1 2024
- Expansion of telemedicine services nationwide, increasing market reach
- Partnership with RxSpark to offer prescription drug discounts, enhancing member benefits
- Q2 2024 revenue decreased 21% from Q1 2024 and 53% from Q2 2023
- H1 2024 revenue down 48% compared to H1 2023
- Net loss increased by 54% in Q2 2024 compared to Q2 2023
- Transition from clinical operations may lead to short-term revenue decline
NAPLES, Fla., Aug. 16, 2024 (GLOBE NEWSWIRE) -- via IBN -- HealthLynked Corp. (OTCQB: HLYK), a leading provider of healthcare networking and technological innovation, has reported its financial results for the three- and six-month periods ending June 30, 2024. Reflecting the company's ongoing efforts to streamline operations and transition its revenue streams from legacy clinical operations to app-based services, HealthLynked achieved significant cost reductions, leading to an
Financial Highlights:
- Revenue: The company reported revenue of
$0.78 million in the second quarter of 2024, a21% decrease from$1.00 million in the first quarter of 2024, and a53% decline from$1.70 million in the second quarter of 2023. For the first half of 2024, revenue totaled$1.80 million , down7% from$1.94 million in the trailing six-month period (October 2023 to March 2024) and48% compared to$3.46 million in the first half of 2023. This decline is attributed to adjustments in clinical staffing within the Health Services Division, aligning clinical operating expenses with reduced physician availability. - Expense Reductions: Continuing its strategic focus on cost control, HealthLynked reduced practice operating expenses in its Health Services Division by
42% to$0.90 million in the second quarter of 2024, compared to$1.55 million in the second quarter of 2023. For the first half of 2024, these expenses were reduced by37% to$1.97 million , down from$3.13 million in the first half of 2023. Overall, total operating expenses decreased by25% in Q2 2024 compared to Q2 2023 and by24% in the first half of 2024 compared to the same period in 2023. - Loss from Operations: The loss from operations was
$1.08 million in Q2 2024, an8% improvement over the$1.18 million loss in Q1 2024, though this represents a35% increase compared to the$0.80 million loss in Q2 2023. - Net Income/Loss: The net loss was
$1.54 million in Q2 2024, a21% increase from a net loss of$1.39 million in Q1 2024, and a54% increase from a$1.00 million net loss in Q2 2023. For the first half of 2024, the net loss was$2.93 million , compared to a net income of$0.45 million in the first half of 2023, which benefited from gains related to the sale of ACO Health Partners in 2023.
Strategic Developments:
HealthLynked has taken significant steps in 2024 to expand its service offerings and enhance value for its members. A major milestone was the signing of partnerships that now allow HealthLynked to offer nationwide telemedicine services. Previously available only in Florida, this expansion enables HealthLynked to provide convenient, remote healthcare services to a broader population across the United States, aligning with the company's mission to improve healthcare access and delivery.
In addition to expanding telemedicine services, HealthLynked has partnered with RxSpark to offer discounts on prescription drugs through pharmacy vouchers, in a program similar to GoodRx. This partnership will enable HealthLynked members to access significant savings on their medications, further enhancing the comprehensive healthcare solutions offered by the HealthLynked Network.
Strategic Outlook:
HealthLynked remains committed to revolutionizing global healthcare delivery. The company is transitioning its focus from clinical operations to app-based services, starting in 2024. By leveraging its patient-centric network, HealthLynked aims to significantly expand its membership base and enhance healthcare delivery for both patients and providers. The strategic shift towards app-based healthcare solutions, including telehealth services, AI-driven personalized healthcare guidance, and seamless appointment booking, positions HealthLynked for substantial growth and improved healthcare outcomes.
Executive Insights:
Dr. Michael Dent, CEO of HealthLynked, commented on the company's strategic direction: "Our continued focus on cost reduction has been crucial in setting a strong foundation for our transition towards app-based technology services. Additionally, our recent partnerships, which have expanded our telemedicine services nationwide and introduced prescription discounts through RxSpark, are pivotal steps in enhancing our offerings. We believe that these strategic initiatives will unlock significant growth opportunities and lead to better healthcare outcomes for our members."
About HealthLynked
HealthLynked Corp. is dedicated to improving global community health. Our mission is to transform healthcare into a system marked by enhanced efficiency and improved care for all, leveraging cutting-edge technology and connectivity that places patients at the heart of their healthcare journey. The HealthLynked Network is a sophisticated cloud-based platform designed to facilitate the seamless exchange of medical information among patients and healthcare providers. By centralizing and securing medical data, the HealthLynked Network empowers patient members to manage their healthcare with unparalleled ease and efficiency, while offering providers an environment where they can gain valuable insights into practice operations, enhance patient compliance, and optimize scheduling.
For more information about HealthLynked Corp., including details on how to become part of our growing community, please visit our website at www.healthlynked.com. Connect with us on social media through Twitter, Facebook, Instagram, and LinkedIn to stay updated on our latest innovations and services. Download the HealthLynked App for Apple or Android.
Forward-Looking Statements & Risk Factors
Forward-Looking Statements in this press release, which are not historical facts, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Our actual results, including as a result of any acquisitions, performance, or achievements, may differ materially from those expressed or implied by these forward-looking statements. In some cases, you can identify forward-looking statements by the use of words such as "may," "could," "expect," "intend," "plan," "seek," "anticipate," "believe," "estimate," "predict," "potential," "continue," "likely," "will," "would," and variations of these terms and similar expressions, or the negative of these terms or similar expressions. Such forward-looking statements are necessarily based upon estimates and assumptions that, while considered reasonable by our management and us, are inherently uncertain. We caution you not to place undue reliance on any forward-looking statements, which are made as of the date of this press release. We undertake no obligation to update publicly any of these forward-looking statements to reflect actual results, new information, or future events, changes in assumptions, or changes in other factors affecting forward-looking statements, except to the extent required by applicable laws. If we update one or more forward-looking statements, no inference should be drawn that we will make additional updates with respect to those or other forward-looking statements. Certain risks and uncertainties applicable to our operations and us are described in the "Risk Factors" section of our most recent Annual Report on Form 10-K and in other filings we have made with the U.S. Securities and Exchange Commission. These reports are publicly available at www.sec.gov.
Investor Relations Contact:
Michael Paisan
Director of Investor Relations
Phone: 1-800-928-7144 ext 123
Email: ir@healthlynked.com
Website: www.healthlynked.com
| HealthLynked Corp. Selected Consolidated Financial Data Three and Six Months Ended June 30, 2024 and 2023 | |||||||||||||||
| Three Months Ended June 30, | Six Months Ended June 30, | ||||||||||||||
| 2024 | 2023 | 2024 | 2023 | ||||||||||||
| Statement of Operations Data: | |||||||||||||||
| Total revenue | $ | 795,078 | $ | 1,703,496 | $ | 1,799,310 | $ | 3,458,650 | |||||||
| Loss from operations | $ | (1,079,489 | ) | $ | (798,091 | ) | $ | (2,257,527 | ) | $ | (1,854,726 | ) | |||
| Loss from continuing operations | $ | (1,540,436 | ) | $ | (989,003 | ) | $ | (2,928,154 | ) | $ | (2,166,848 | ) | |||
| Gain from discontinued operations | $ | --- | $ | (14,452 | ) | $ | --- | $ | 2,615,328 | ||||||
| Net income (loss) | $ | (1,540,436 | ) | $ | (1,003,455 | ) | $ | (2,928,154 | ) | $ | 448,480 | ||||
| Earnings (loss) per share data, basic and diluted: | |||||||||||||||
| Loss from continuing operations | $ | (0.01 | ) | $ | (0.00 | ) | $ | (0.01 | ) | $ | (0.01 | ) | |||
| Gain (loss) on discontinued operations | $ | 0.00 | $ | (0.00 | ) | $ | 0.00 | $ | 0.01 | ||||||
| Net income (loss) | $ | (0.01 | ) | $ | (0.00 | ) | $ | (0.01 | ) | $ | 0.00 | ||||
| Weighted average number of common shares | 281,788,578 | 259,817,248 | 281,136,423 | 258,481,657 | |||||||||||
| June 30, | December 31, | ||||||||||||||
| Balance Sheet Data: | 2024 | 2023 | |||||||||||||
| Total Assets | $ | 3,859,664 | $ | 4,280,140 | |||||||||||
| Total Liabilities | $ | 4,284,243 | $ | 3,475,410 | |||||||||||
| Total Shareholders' Equity | $ | (424,579 | ) | $ | 804,730 | ||||||||||
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