MedX Health Corp. announces 2Q 2021 results

MedX Health Corp. announced its results for the three and six-months ended June 30, 2021, which are also available on SEDAR.

The Company reported revenue of $146,532 for the three-months ended June 30, 2021, compared with revenue of $69,452 for the three-months ended June 30, 2020. Revenues from the Company’s SIAscopy®/DermSecure® products were lower than in 2020, while sales for the therapeutic laser product line was three times the revenue from the 2020 second quarter. The Company reported a loss for the three-months ended June 30, 2021, of $1,234,836, or $0.01 per share compared with a loss of $708,212, or $0.00 per share for the three-months ended June 30, 2020.

2021, compared with revenue of $164,996 for the six-months ended June 30, 2020. Revenues from the Company’s SIAscopy®/DermSecure® products increased 19% from the 2020 six-month period, and sales for the therapeutic laser product line were 73% higher than the prior year. The Company reported a loss for the six-months ended June 30, 2021, of $2,267,178, or $0.01 per share compared with a loss of $1,448,396, or $0.01 per share for the six-months ended June 30, 2020.

“We have begun generating revenue from scanning by customers using our SIAscopy®/DermSecure® telemedicine platform after the launch in the Netherlands earlier in the year, and expect increasing activity,” noted Sylvain Desjeans, the recently appointed President and CEO of MedX. “From my initial work to date, I see a number of opportunities where our efforts should result in an increasing number of units sold, and more importantly, the recurring revenue from DermSecure®. We have made good progress in the integration of a high-definition camera onto DermSecure®, which will further enhance our offering, and will be ready to launch before the end of the year. The broadened offering will provide a multiple to the potential revenue growth with the focus now on teledermatology.” Business Wire