HealthLynked Corp. Announces Third Quarter and Year-to-Date 2024 Results with Strategic Restructuring, Third-Party Debt Repayment, and Core Technology Focus
HealthLynked Corp. (OTCQB: HLYK) announced Q3 2024 financial results, revealing significant changes amid strategic restructuring. Revenue declined 56% year-over-year to $0.59 million in Q3 2024, with a nine-month revenue of $2.39 million, down 50% from 2023. The company reduced practice operating expenses by 39% to $0.80 million in Q3. Operating loss increased to $1.67 million, with a net loss of $1.97 million. The company is shifting focus from clinical operations to app-based services, with telemedicine now available nationwide. CEO Dr. Michael Dent provided $2.7 million in debt funding in 2024 to support the transition.
HealthLynked Corp. (OTCQB: HLYK) ha annunciato i risultati finanziari del terzo trimestre 2024, rivelando cambiamenti significativi nel contesto di una ristrutturazione strategica. I ricavi sono diminuiti del 56% su base annua, scendendo a 0,59 milioni di dollari nel terzo trimestre 2024, con un fatturato di nove mesi di 2,39 milioni di dollari, in calo del 50% rispetto al 2023. L'azienda ha ridotto le spese operative della pratica del 39%, portandole a 0,80 milioni di dollari nel terzo trimestre. La perdita operativa è aumentata a 1,67 milioni di dollari, con una perdita netta di 1,97 milioni di dollari. L'azienda sta spostando il proprio focus dalle operazioni cliniche ai servizi basati su app, con la telemedicina ora disponibile a livello nazionale. Il CEO Dr. Michael Dent ha fornito 2,7 milioni di dollari in finanziamenti debitori nel 2024 per supportare la transizione.
HealthLynked Corp. (OTCQB: HLYK) anunció los resultados financieros del tercer trimestre de 2024, revelando cambios significativos en medio de una reestructuración estratégica. Los ingresos cayeron un 56% interanual, alcanzando los 0,59 millones de dólares en el tercer trimestre de 2024, con unos ingresos de nueve meses de 2,39 millones de dólares, un 50% menos que en 2023. La empresa redujo los gastos operativos en un 39%, dejándolos en 0,80 millones de dólares en el tercer trimestre. La pérdida operativa aumentó a 1,67 millones de dólares, con una pérdida neta de 1,97 millones de dólares. La compañía está cambiando su enfoque de las operaciones clínicas a los servicios basados en aplicaciones, con la telemedicina ahora disponible a nivel nacional. El CEO Dr. Michael Dent proporcionó 2,7 millones de dólares en financiación de deudas en 2024 para apoyar la transición.
HealthLynked Corp. (OTCQB: HLYK)는 2024년 3분기 재무 결과를 발표하며 전략적 재구성 속에서 중요한 변화를 알렸습니다. 수익은 전년 대비 56% 감소하여 3분기 0.59백만 달러에 머물렀고, 9개월 누적 수익은 2.39백만 달러로 2023년 대비 50% 감소했습니다. 회사는 3분기 운영 비용을 39% 감소시켜 0.80백만 달러로 조정했습니다. 운영 손실은 1.67백만 달러로 증가하였고, 순손실은 1.97백만 달러입니다. 현재 회사는 임상 운영에서 앱 기반 서비스로 초점을 전환하고 있으며, 원격 의료 서비스가 전국적으로 제공되고 있습니다. CEO 마이클 덴트 박사는 2024년에 270만 달러의 부채 자금을 지원하여 전환을 지원했습니다.
HealthLynked Corp. (OTCQB: HLYK) a annoncé les résultats financiers du troisième trimestre 2024, révélant des changements significatifs dans le cadre d'une restructuration stratégique. Les revenus ont diminué de 56 % par rapport à l'année précédente, atteignant 0,59 million de dollars au troisième trimestre 2024, avec des revenus de neuf mois de 2,39 millions de dollars, en baisse de 50 % par rapport à 2023. L'entreprise a réduit ses dépenses opérationnelles de 39 %, les portant à 0,80 million de dollars au troisième trimestre. La perte d'exploitation a augmenté à 1,67 million de dollars, avec une perte nette de 1,97 million de dollars. L'entreprise change de concentration, passant des opérations cliniques aux services basés sur des applications, la télémédecine étant désormais disponible à l'échelle nationale. Le PDG Dr. Michael Dent a fourni 2,7 millions de dollars de financement par emprunt en 2024 pour soutenir la transition.
HealthLynked Corp. (OTCQB: HLYK) hat die finanziellen Ergebnisse des dritten Quartals 2024 veröffentlicht und erhebliche Änderungen im Rahmen einer strategischen Umstrukturierung bekannt gegeben. Der Umsatz fiel im Jahresvergleich um 56 % auf 0,59 Millionen US-Dollar im dritten Quartal 2024, mit einem Neunmonatsumsatz von 2,39 Millionen US-Dollar, was einem Rückgang von 50 % im Vergleich zu 2023 entspricht. Das Unternehmen hat die Betriebskosten der Praxis um 39 % auf 0,80 Millionen US-Dollar im dritten Quartal gesenkt. Der operative Verlust stieg auf 1,67 Millionen US-Dollar, mit einem Nettoverlust von 1,97 Millionen US-Dollar. Das Unternehmen verlagert den Fokus von klinischen Operationen auf app-basierte Dienstleistungen, wobei Telemedizin jetzt landesweit verfügbar ist. CEO Dr. Michael Dent stellte 2024 2,7 Millionen US-Dollar an Fremdfinanzierung zur Verfügung, um den Übergang zu unterstützen.
- Reduced practice operating expenses by 39% to $0.80 million in Q3 2024
- Total operating expenses decreased by 19% in first nine months of 2024
- Expanded telemedicine services to all 50 states
- Secured $2.7 million in debt funding from CEO in 2024
- Revenue declined 56% YoY to $0.59 million in Q3 2024
- Nine-month revenue dropped 50% to $2.39 million compared to 2023
- Operating loss increased to $1.67 million in Q3 2024
- Net loss of $1.97 million in Q3 2024 compared to $0.17 million loss in Q3 2023
- Increased debt obligations through CEO funding
NAPLES, Fla., Nov. 15, 2024 (GLOBE NEWSWIRE) -- via IBN – HealthLynked Corp. (OTCQB: HLYK), a leader in healthcare networking and technology innovation, today announced financial results for the three- and nine-months ending Sept. 30, 2024. With a renewed commitment to profitable growth, HealthLynked has restructured its clinical operations, reduced its third-party debt obligations, reduced physical plant cost and shifted focus toward its core software solutions, positioning the company for enhanced operational efficiency and scalability in the future.
Financial Highlights
Revenue: HealthLynked reported revenue of
Expense Reductions: HealthLynked reduced practice operating expenses by
Loss from Operations: The loss from operations for Q3 2024 was increased by
Net Income/Loss: HealthLynked reported a net loss of
Strategic Outlook
HealthLynked remains committed to expanding its footprint through strategic partnerships and a growing user base. The company is shifting its focus from traditional clinical operations to app-based services, aiming to increase both user acquisition and revenue through innovative digital solutions. By leveraging its patient-centric network, HealthLynked anticipates significant growth in its membership base, enhancing healthcare accessibility for patients and providers alike.
HealthLynked's software platform's cost is significantly lower than the variable costs associated with operating clinical services. This shift allows HealthLynked to minimize the fluctuations in costs and revenue that typically accompany clinic operations, resulting in a leaner, more efficient business model.
CEO Contribution and Financial Support
Dr. Michael Dent, CEO of HealthLynked, has played a crucial role in providing the necessary financial support for the company's operations during this period of transition, with
Executive Commentary
Dr. Michael Dent, CEO of HealthLynked, stated, "Our restructuring efforts in our clinical operations are designed to maximize profitability and support our transition toward core technology solutions. With telemedicine services just now available in all 50 states and our paid concierge services gaining traction, HealthLynked is well-positioned to drive revenues by focusing on the value of our patient-centric software platform. This shift allows us to better serve patients and providers across the nation, reducing operational overhead while expanding our reach and impact in healthcare."
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.
Contact Information:
Mike Paisan
HealthLynked Corp.
1265 Creekside Pkwy, Suite 301
Naples, Florida 34108
Phone: 1-800-928-7144
Email: IR@healthlynked.com
| HealthLynked Corp. Selected Consolidated Financial Data Three and Nine Months Ended September 30, 2024 and 2023 | |||||||||||||||
| Three Months Ended September 30, | Nine Months Ended September 30, | ||||||||||||||
| 2024 | 2023 | 2024 | 2023 | ||||||||||||
| Statement of Operations Data: | |||||||||||||||
| Total revenue | $ | 590,124 | $ | 1,332,515 | $ | 2,389,434 | $ | 4,791,165 | |||||||
| Loss from operations | $ | (1,671,347) | $ | (1,184,843) | $ | (3,928,874) | $ | (3,039,569) | |||||||
| Loss from continuing operations | $ | (1,973,119) | $ | (161,370) | $ | (4,901,273) | $ | (2,328,218) | |||||||
| Gain (loss) from discontinued operations | $ | --- | $ | (13,554) | $ | --- | $ | 2,601,774 | |||||||
| Net income (loss) | $ | (1,973,119) | $ | (174,924) | $ | (4,901,273) | $ | 273,556 | |||||||
| Earnings (loss) per share data, basic and diluted: | |||||||||||||||
| Loss from continuing operations | $ | (0.01) | $ | (0.00) | $ | (0.02) | $ | (0.01) | |||||||
| Gain (loss) on discontinued operations | $ | 0.00 | $ | (0.00) | $ | 0.00 | $ | 0.01 | |||||||
| Net income (loss) | $ | (0.01) | $ | (0.00) | $ | (0.02) | $ | 0.00 | |||||||
| Weighted average number of common shares | 281,947,151 | 265,519,460 | 281,428,579 | 260,853,370 | |||||||||||
| September 30, | December 31, | ||||||||||||||
| Balance Sheet Data: | 2024 | 2023 | |||||||||||||
| Total Assets | $ | 2,758,158 | $ | 4,280,140 | |||||||||||
| Total Liabilities | $ | 4,691,077 | $ | 3,475,410 | |||||||||||
| Total Shareholders' Equity | $ | (1,932,919 | ) | $ | 804,730 | ||||||||||
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FAQ
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