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Tag: MEDS

  • TRxADE HEALTH Inc. (MEDS) stock Soars Premarket on Year-end 2021 Financial Results

    TRxADE HEALTH Inc. (MEDS) stock Soars Premarket on Year-end 2021 Financial Results

    On March 29, TRxADE HEALTH Inc. (MEDS) stock soared high in the premarket with a gain of 27.35% at the last check. This bullishness comes from the company’s latest earnings report shares yesterday. On Monday, the company declared its Q4 and fiscal 2021 results after the market closed.

    Source: US News Money

    It seems investors were looking forward to the earnings with much enthusiasm as the stock increased by 2.63% during yesterday’s regular trading. Investors flocked to the stock before the earnings release to make it trade at a heavy volume of 1,334% of the average at 1.1 million shares. At the close of the session, MEDS had a price of $2.34 per share. Following the announcement, the stock was trading at a value of $2.98 per share in the premarket, at the time of writing. At the last check, the volume of shares exchanged was 335.9K in the premarket.

    The pharmaceutical industry company, TRxADE HEALTH Inc. provides an online platform for pharmaceutical purchasers. Founded in 2005, the company has a market capitalization of $18.62 million. Currently, the company has 8.17 million shares outstanding in the market.

    MEDS’ 2021 Financial Report

    Q4 2021

    For Q4 2021, the company reported revenues of $2.4 million with an increase of 19.7% YOY.

    Moreover, MEDS had a net loss of $0.8 million or $0.10 per share in Q4 2021 against $2.3 million or $0.29 per share in the year-ago period.

    Additionally, the adjusted EBITDA was $0.8 million while the gross profit was $1.24 million (831% increase YOY).

     Fiscal 2021

    For fiscal 2021, the company reported revenues of $9.9 million with a decline of 42.2% YOY.

    Furthermore, the net loss was $5.3 million or $0.65 per share in 2021 against $2.5 million or $0.33 in 2020.

    The adjusted EBITDA was $(3.7) million while the gross profit was $4.7 million.

    Recent Participation

    On March 15, the company announced its participation in the 2022 Virtual Growth Conference. Hosted by M-Vest and presented by Maxim Group LLC, the conference started on March 28 and will end on March 30, 2022. MEDS Chief Executive Officer Suren Ajjarapu was invited to present at the conference on March 30 at 1:30 pm EDT.

    MEDS Other Developments

    On February 23, the company announced a Telemedicine Service Distribution agreement of Bonum Health with Corbon’s Inc. Bonum Health is the company’s digital healthcare business subsidiary while Corbon’s is a regional grocery chain with 120+ Food and Pharmacy Grocery Stores.

  • TRxADE HEALTH, Inc. (MEDS) Stock Dips Significantly Following Disclosure of Q2 2021 Financial Reports

    TRxADE HEALTH, Inc. (MEDS) stock prices were down 4.01% as of the market closing on July 26th, 2021, bringing the price per share down to USD$5.26 at the end of the trading day. Subsequent premarket fluctuations saw the stock plummet by 19.20%, bringing it down to USD$4.25.

    Expanding Consumer Base

    MEDS stock continued to allocate resources toward the expansion of its drug procurement marketplace over the course of Q2 2021. The quarter reported having added roughly 195 new registered members, bumping the total number of registered members up to more than 12,700. The company also signed various enterprise retail partnerships to onboard new customers to its telehealth platform, partnering up with the likes of Brookshire Grocery, Winn-Dixie, and Big Y. MEDS stock’s Bonum Health product is now offered in 500 stores across all 50 states, increasing accessibility to its thousands of customers.

    MEDS Stock’s Partnerships

    MEDS stock also secured a group purchasing agreement with QualityCare Pharmacies, an independent pharmacy prescription drug buying group. QualityCare is the newest part of the company’s rapidly expanding GPO offering, aimed to drive substantial gains in wallet share amongst independent pharmacies on the TRxADE platform. MEDS stock also launched a government-oriented health passport solution with an accompanying mobile app, facilitating the expedition of post-Covid-19 reopening.

    MEDS Stock Revenue Reports

    Revenues for Q2 2021 were up to USD$1.9 million, down from the USD$6.6 million in the same quarter of the prior year. This year-over-year decrease was largely driven by non-recurring sales of personal protective equipment (PPE) in the 2020 quarter, in relation to global efforts to manage the outbreak of the Covid-19 pandemic.

    Additional Financials

    The second quarter of 2021 saw MEDS stock report gross profits in the amount of USD$0.8 million, representing 44.3% of the quarter’s revenues. This is comparable to the USD$2 million reported for the prior-year quarter, representing 30.4% of revenues. The substantial year-over-year increase in gross profit margin was largely driven by fewer lower margin PPE sales in the 2021 quarter. Operating expenses for the second quarter of 2021 came in at USD$3.4 million, up from the USD$2.5 million reported in the prior-year quarter. This increase was largely driven by an inventory investment loss of USD$1.2 million.

    Future Outlook for MEDS

    Armed with its expanding network of strategic collaborations and the success of its most recent financial reports, MEDS stock is poised to continue its trajectory of success. The company is keen to allocate resources so as to usher in further growth, with investors hoping for long-term increases in shareholder value.