Welcome to our dedicated page for Progressive Care news (Ticker: RXMD), a resource for investors and traders seeking the latest updates and insights on Progressive Care stock.
Progressive Care Inc. (RXMD) delivers innovative healthcare solutions through tele-pharmacy services, 340B contract management, and prescription care. This page provides investors and stakeholders with direct access to the company's official news updates and press releases.
Discover timely announcements including strategic partnerships, regulatory developments, service expansions, and operational milestones. Our curated collection ensures transparent access to RXMD's progress in enhancing patient care models and pharmacy management technologies.
Key focus areas in recent updates include advancements in telemedicine integration, compliance with 340B program requirements, and partnerships strengthening long-term care support. Bookmark this page to stay informed about Progressive Care's role in shaping efficient healthcare administration.
Progressive Care Inc. (OTCQB: RXMD) reported its financial results for the year ending December 31, 2022, showing a 5% revenue increase to $40.6 million. Key highlights include a 7% rise in prescription revenue to $36.3 million and a $1.0 million increase in 340B contract revenue. However, gross profit margin decreased from 26% to 24%, primarily due to reduced COVID-19 testing revenue. The net loss expanded to $5.9 million, influenced by non-recurring expenses. The company successfully raised $5.4 million in capital and reduced convertible debt interest rates from 10% to 5%.
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