PROGRESSIVE CARE INC - RXMD STOCK NEWS

Progressive Care, Inc. (OTCQB: RXMD) reported a 4% revenue increase to approximately $10 million for Q2 2022, driven by a 13% rise in prescription revenue to nearly $9.3 million. Operating loss remained flat at $0.2 million, while cash balances stood at $2.2 million. The company's expansion into chronic care management and remote patient monitoring is underway, along with maintaining SEC reporting status. Gross profit margins decreased to 20% from 27% year-over-year, attributed to a decline in higher-margin COVID-19 testing revenues.

Progressive Care Inc. (OTCQB: RXMD) has scheduled an investor conference call for August 11, 2022, at 4:30 PM ET. Chairman and CEO Alan Jay Weisberg expressed enthusiasm for discussing the company's second-quarter results, prescription growth, and development strategies aimed at enhancing Progressive Care's market position as a technology-centric healthcare organization. Participants can submit questions ahead of the call, and details for accessing the call have been provided, including a dial-in number and access code. A replay will be available post-conference.

Progressive Care Inc. (OTCQB: RXMD) reported a 5% revenue increase for Q1 2022, totaling $10.1 million, up from $9.6 million in Q1 2021. The operating loss dramatically decreased by 79% to $0.1 million. However, gross margin slipped to 24% from 25% year-over-year. Adjusted EBITDA rose 53% to $101,646. The company has expanded its COVID-19 testing capabilities and strengthened its management team. Despite a decrease in 340B contract revenue, management is optimistic about future growth in various healthcare services.

Progressive Care Inc. (OTCQB: RXMD) has announced an investor conference call scheduled for 4:30 PM ET on May 17, 2022. The call will provide shareholders with insights into the first quarter results, the company's vision for the remainder of 2022, and updates on their plans to uplist to Nasdaq. Shareholders can submit questions in advance, and a replay will be available post-call. The company specializes in personalized healthcare services, including prescription pharmaceuticals and tele-pharmacy.

Progressive Care (OTCQB: RXMD) announced the successful acquisition of long-term care contracts with major payors for its long-term care division. This enables the company to boost sales and improve margins. CEO Jay Weisberg highlighted their strong patient care history and advanced data management as key success factors. The new pharmacy services will include clinical support, automated Rx refills, and same-day delivery. Additionally, the long-term care division complements their upcoming Remote Patient Monitoring initiative, enhancing patient care and outcomes.

Progressive Care Inc. (OTCQB:RXMD) is announcing its strategic move into the Remote Patient Monitoring (RPM) market, anticipated to grow to $175.2 billion by 2027 at a 27% CAGR. The RPM program, developed by the CMS, aims to reduce healthcare spending, particularly for Medicare beneficiaries with chronic conditions. Progressive Care plans to utilize its expertise in medication therapy management and data analytics to enhance RPM services. CEO Alan Jay Weisberg highlighted the company’s commitment to expanding its healthcare offerings, leveraging technologies like wearables and 5G-enabled devices.

Progressive Care, Inc. (OTCQB: RXMD) announced the automatic effectiveness of its Registration Statement on Form 10 with the SEC, effective April 11, 2022. This move requires the company to file regular financial reports and comply with Exchange Act obligations, enhancing transparency and compliance for shareholders. CEO Alan Jay Weisberg emphasized the importance of being a fully reporting company for investor confidence and access to institutional capital. The company's commitment to corporate governance and plans for Nasdaq listing were also highlighted.

Progressive Care Inc. (OTCQB: RXMD) reported key financial and operational results for 2021, with revenue reaching $38.9 million, including $4.3 million from COVID-19 testing. The gross margin improved to 26%, and EBITDA increased to $167,000. The company expanded its pharmacy services and strengthened its position in the 340B sector, signing eight new contracts. Management expresses optimism for future growth, especially with the pending Nasdaq uplisting, aiming for enhanced shareholder value.

Progressive Care Inc. (OTCQB: RXMD) has scheduled an investor conference call for March 28, 2022, at 4:30 PM ET. CEO Alan Jay Weisberg noted that 2021 was a challenging year, but the company completed the pharmacy system implementation and achieved record COVID-19 revenues. The upcoming call will provide shareholders with detailed updates and insights into the company's vision for 2022. Investors can submit questions prior to the call, and access details are provided for those who wish to listen to the live or archived sessions.