HealthLynked Reports 47% Year-Over-Year Revenue Growth for Second Quarter 2021, 40% Growth Year-to-Date (HLYK)

HealthLynked Reports 47% Year-Over-Year Revenue Growth for Second Quarter 2021, 40% Growth Year-to-Date

PR Newswire

NAPLES, Fla., Aug. 17, 2021

NAPLES, Fla., Aug. 17, 2021 /PRNewswire/ — HealthLynked Corp. (OTCQB: HLYK), a global healthcare network focused on care management of its members and a provider of healthcare technologies that connects doctors, patients, and medical data, reported its financial results for the three and six months ended June 30, 2021. The Company’s second quarter 2021 (“2Q’21”) results were excellent, with revenue up 47% compared to second quarter 2020 and first half 2021 (“1H’21”) revenue up 40% over first half 2020 (“1H’20”). 

First Half 2021 Compared to First Half 2020:

  • 40% increase in revenue in 1H’21 compared to 1H’20, increasing to $3,495,314 from $2,498,450
  • Patient appointments in the Company’s Health Services division increased 18% from 7,562 in 1H’20 to 8,886 in 1H’21
  • Time of Service collections increased 26% from $1,855,780 in 1H’20 to $2,343,358 in 1H’21

Second Quarter 2021 Compared to Second Quarter 2020:

  • 47% increase in revenue in 2Q’21 compared to 2Q’20, increasing to $1,710,620 from $1,161,510
  • Patient appointments increased 29% from 3,375 in 2Q’20 to 4,348 in 2Q’21
  • Time of Service collections increased 37% from $845,877 in 2Q’20 to $1,156,604 in 2Q’21

Second Quarter 2021 Compared to First Quarter 2021:

  • 4% decrease in revenue in 2Q’21 compared to 1Q’21, decreasing to $1,710,620 from $1,784,694
  • Patient appointments decreased 4% from 4,538 in 1Q’21 to 4,348 in 2Q’21
  • Time of Service collections decreased 3% from $1,186,754 in 1Q’21 to $1,156,604 in 2Q’21 

“We are pleased that we were able to significantly grow patient volume, time of service collections and revenue in our Health Services division in second quarter compared to the same period last year,” stated Dr. Michael Dent CEO.

George O’Leary, HealthLynked CFO stated “Revenue was up 47% from second quarter of last year and down only 4% from last quarter.” He continued, “We also wiped out $632k of current debt this quarter without any cash outflow through PPP Loan forgiveness, further improving our balance sheet. Our net equity maintained at $6.3 million for Q2 2021, leaving us in a strong position for our planned uplisting during the second half of the year.”

About HealthLynked Corp.

HealthLynked Corp. provides a solution for both patient members and providers to improve healthcare through the efficient exchange of medical information. The HealthLynked Network is a cloud-based platform that allows members to connect with their healthcare providers and take more control of their healthcare. Members enter their medical information, including medications, allergies, past surgeries, and personal health records, in one convenient online and secure location, free of charge. Participating healthcare providers can connect with their current and future patients through the system. Benefits to in-network providers include the ability to utilize the HealthLynked patent-pending patient access hub “PAH” for patient analytics. Other benefits for preferred providers include HLYK marketing tools to connect with their active and inactive patients to improve patient retention, access more accurate and current patient information, provide more efficient online scheduling, and to fill last-minute cancelations using the Company’s “real-time appointment scheduling” all within its mobile application. Preferred providers pay a monthly fee to access these HealthLynked services. For additional information about HealthLynked Corp., please visit www.healthlynked.com and connect with HealthLynked on Twitter, Facebook, and LinkedIn.

Forward-Looking Statements

Forward-Looking Statements in this press release, which are not historical facts, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Our actual results, including as a result of any acquisitions, performance, or achievements may differ materially from those expressed or implied by these forward-looking statements. In some cases, you can identify forward-looking statements by the use of words such as “may,” “could,” “expect,” “intend,” “plan,” “seek,” “anticipate,” “believe,” “estimate,” “predict,” “potential,” “continue,” “likely,” “will,” “would” and variations of these terms and similar expressions, or the negative of these terms or similar expressions. Such forward-looking statements are necessarily based upon estimates and assumptions that, while considered reasonable by our management, and us are inherently uncertain. We caution you not to place undue reliance on any forward-looking statements, which are made as of the date of this press release. We undertake no obligation to update publicly any of these forward-looking statements to reflect actual results, new information or future events, changes in assumptions or changes in other factors affecting forward-looking statements, except to the extent required by applicable laws. If we update one or more forward-looking statements, no inference should be drawn that we will make additional updates with respect to those or other forward-looking statements. Certain risks and uncertainties applicable to our operations and us are described in the “Risk Factors” section of our most recent Annual Report on Form 10-K and in other filings we have made with the U.S. Securities and Exchange Commission. These reports are publicly available at www.sec.gov.

Contacts:

George O’Leary
Chief Financial Officer
goleary@healthlynked.com
(800)-928-7144, ext. 103

William Hayde
Capital Markets Strategist
bhayde@healthlynked.com
(631)-403-4337

Investor Relations Contacts:
Jim Hock
Hanover International Inc.
jh@hanoverintlinc.com
(760)-564-7400

HealthLynked Corp.
Selected Consolidated Financial Data
Three and Six Months Ended June 30, 2021 and 2020
Three Months Ended June 30,Six Months Ended June 30,
2021202020212020
Statement of Operations Data
Total revenue$1,710,620$1,161,510$3,495,314$2,498,450
Net loss$(505,764)$(1,517,848)$(8,329,217)$(2,098,064)
Net loss per share to
common stockholders,
basic and diluted
$(0.00)$(0.01)$(0.04)$(0.02)
Weighted average
number of common
shares, basic and diluted
228,007,727125,535,787220,643,390118,881,613
Balance Sheet Data
June 30, 2020Dec. 31, 2019
Total Assets$10,332,967$8,026,548
Total Liabilities$4,030,734$6,676,540
Total Shareholders’ Equity$6,302,233$1,350,008

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SOURCE HealthLynked Corp.