Solid Revenue Growth and Earnings Define HealthLynked's Q1 2023
Solid Revenue Growth and Earnings Define HealthLynked's Q1 2023
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Naples, Fla. -- May 16, 2023 -- InvestorsHub NewsWire -- HealthLynked Corp. (OTCQB: HLYK), a global healthcare network dedicated to care management of its members and a provider of healthcare technologies connecting doctors, patients, and medical data, announced its financial results for the first quarter ended March 31, 2023.
First Quarter 2023 Financial Results
For the first quarter of 2023, HealthLynked recorded revenue of
Loss from operations experienced a significant reduction of
In the first quarter of 2023, HealthLynked recognized a gain from disposal of discontinued operations of
Our net income for the first quarter of 2023 stood at
Dr. Michael Dent, HealthLynked's Chairman and Chief Executive Officer, stated, "The year 2022 marked a transformative period for us, setting the stage for a 2023 focused on profitability and the introduction of our foundational HealthLynked services. Through a cohesive blend of all our service lines, we aim to achieve profitability by the year-end. In our quest to communicate our value proposition more effectively and increase our market visibility, we've strategically consolidated our offerings. We're confident that this consolidation will not only amplify our presence but also underscore the breadth and depth of our services and provide better healthcare outcomes for our valued patient members."
George O'Leary, HealthLynked's Chief Financial Officer, added, "We are very pleased with both the
About HealthLynked
HealthLynked Corp. provides a solution for both patient members and providers to improve healthcare through the efficient exchange of medical information. The HealthLynked Network is a cloud-based platform that allows members to connect with their healthcare providers and take more control of their healthcare. Members enter their medical information, including medications, allergies, past surgeries, and personal health records, in one convenient online and secure location, free of charge. Participating healthcare providers can connect with their current and future patients through the system. Benefits to in-network providers include the ability to utilize the HealthLynked patent-pending patient access hub "PAH" for patient analytics. Other benefits for preferred providers include HLYK marketing tools to connect with their active and inactive patients to improve patient retention, access more accurate and current patient information, provide more efficient online scheduling, and to fill last-minute cancelations using the Company's "real-time appointment scheduling" all within its mobile application. Preferred providers pay a monthly fee to access these HealthLynked services. For additional information about HealthLynked Corp., please visit www.healthlynked.com and connect with HealthLynked on Twitter, Facebook, Instagram, and LinkedIn.
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.
HLYK Contact:
George O'Leary goleary@healthlynked.com
Chief Financial Officer +1 (800)-928-7144, ext. 103
HealthLynked Corp.
Selected Consolidated Financial Data
Quarter Ended March 31, 2023 and 2022
Three Months Ended March 31, | |||||
| 2023 |
| 2022 | ||
Statement of Operations Data |
| ||||
Total revenue | $ | 1,755,154 | $ | 1,529,278 | |
Loss from operations | $ | (1,056,635) | $ | (1,451,287) | |
Gain (loss) on discontinued operations | $ | 2,629,780 | $ | (150,135) | |
Net income (loss) | $ | 1,451,935 | $ | (1,168,123) | |
Net income (loss) to common shareholders | $ | 1,451,935 | $ | (1,256,516) | |
Earnings (loss) per share data, basic and diluted: | |||||
Gain (loss) on discontinued operations | $ | 0.01 | $ | (0.00) | |
Net income (loss) per share to common shareholders | $ | 0.01 | $ | (0.01) | |
Weighted average number of common shares | 257,131,222 | 238,008,478 | |||
March 31, |
| December 31, | |||
Balance Sheet Data | 2023 |
| 2022 | ||
Total Assets | $ | 6,145,200 | $ | 4,580,716 | |
Total Liabilities | $ | 3,976,557 | $ | 4,266,266 | |
Total Shareholders' Equity | $ | 2,168,643 | $ | 314,450 | |
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