Reliq Health Technologies, Inc. Files Q3 FY 2023 Financial Statements, Announces Record Revenue and First EBITDA Positive Quarter
HAMILTON, Ontario, May 30, 2023 (GLOBE NEWSWIRE) -- Reliq Health Technologies Inc. (TSXV:RHT or OTCQB:RQHTF) (“Reliq” or the “Company”), a rapidly growing global healthcare technology company that specializes in developing innovative Virtual Care solutions for the multi-billion dollar Healthcare market, today announced that the condensed interim consolidated financial statements (“Financial Statements”) and Management’s Discussion and Analysis (“MD&A”) for the quarter ended March 31, 2023 (Q3 FY 2023), are now available on the Company’s profile on SEDAR (www.sedar.com).
“We have now filed our financials for the third quarter of Fiscal Year 2023,” said Dr. Lisa Crossley, CEO of Reliq Health Technologies, Inc. “The Company achieved record revenues of $4,741,037 for the three months ending March 31, 2023 and had our first profitable quarter with a gain from operations of $731,017. Software and services revenue continues to increase as percentage of total revenue, increasing over 69% to $1,804,891 relative to the three months ended March 31, 2022 ($1,067,426). This is consistent with the Company’s previous guidance that high margin software and services will account for the majority of its revenue by the end of 2023 and beyond. Since January 1, 2023 the Company has added over 120 new Skilled Nursing Facilities to its client base and signed new contracts with a large US Healthcare System client and a large US Health Plan. It is a tremendous validation of Reliq’s unique value proposition that we are able to attract these very large clients. We expect to see increasing traction with large clients through the remainder of 2023 and beyond.”
The Company is also pleased to provide the following corporate update.
1. Highlights from Q3 FY 2023 Interim Financial Statements
During the three-month period ending March 31, 2023 and subsequent, the Company:
3. Dates for Upcoming Webinars
The Company will host webinars in mid-July and early September (exact dates TBD) to provide interim updates on progress in key areas.
About Reliq Health
Reliq Health Technologies is a rapidly growing global healthcare technology company that specializes in developing innovative Virtual Care solutions for the multi-billion dollar Healthcare market. Reliq’s powerful iUGO Care platform supports care coordination and community-based virtual healthcare. iUGO Care allows complex patients to receive high quality care at home, improving health outcomes, enhancing quality of life for patients and families and reducing the cost of care delivery. iUGO Care provides real-time access to remote patient monitoring data, allowing for timely interventions by the care team to prevent costly hospital readmissions and ER visits. Reliq Health Technologies trades on the TSX Venture under the symbol RHT, on the OTC as RQHTF and on the Frankfurt Stock Exchange under the WKN: A2AJTB.
ON BEHALF OF THE BOARD
“Dr. Lisa Crossley”
CEO and Director
For further information please contact:
US Investor Relations Contact
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Statements Regarding Forward Looking Information
Certain statements in this press release constitute forward-looking statements, within the meaning of applicable securities laws. All statements that are not historical facts, including without limitation, statements regarding future estimates, plans, programs, forecasts, projections, objectives, assumptions, expectations or beliefs of future performance, are "forward-looking statements".
We caution you that such "forward-looking statements" involve known and unknown risks and uncertainties that could cause actual and future events to differ materially from those anticipated in such statements.
Forward-looking statements include, but are not limited to, statements with respect to commercial operations, including technology development, anticipated revenues, projected size of market, and other information that is based on forecasts of future results, estimates of amounts not yet determinable and assumptions of management.
Reliq Health Technologies Inc. (the "Company") does not intend and does not assume any obligation, to update these forward-looking statements except as required by law. These forward-looking statements involve risks and uncertainties relating to, among other things, technology development and marketing activities, the Company's historical experience with technology development, uninsured risks. Actual results may differ materially from those expressed or implied by such forward-looking statements.
SOURCE: Reliq Health Technologies Inc.
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