HealthLynked (OTCQB: HLYK), a trailblazer in healthcare technology, today announced its financial results for the first quarter ended March 31, 2024. During the quarter, the company’s revenue reached $1.0 million, an 8% increase compared to the fourth quarter of 2023, underscoring HealthLynked’s resilience and adaptability in managing transitions while maintaining operational efficiency. The announcement noted HealthLynked’s continued strategic focus on cost control, which saw the company reduce operating expenses in the Health Services Division by 33%, SG&A expenses by 9%, and overall operating expenses by 22% in Q1 2024 compared to Q1 2023. The company reported a net loss from continuing operations of $1.39 million but remains financially resilient due to gains associated with the sale of ACO Health Partners. The sale generated $2.63 million in income last year. The announcement noted that the company aims to shift revenue streams from clinical operations to app-based services in 2024. “These results underscore our ability to optimize financial operations amid change. Strategic investments in technology and a provider network will ensure steady revenue growth in the coming quarters,” said David Rosal, CFO of HealthLynked.
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About HealthLynked Corp.
HealthLynked is committed to revolutionizing healthcare on a global scale. Its mission is twofold: to transform the healthcare landscape into a system characterized by exceptional efficiency and superior patient care, and to cultivate a patient-centric network that places individuals at the forefront of their health management. By integrating cutting-edge technology and fostering connectivity, HealthLynked enables patients not just to participate in their healthcare journey, but also to contribute actively to medical research. This innovative approach facilitates the development of treatments for life-altering diseases and accelerates medical breakthroughs.
The company’s network empowers patients with unprecedented control over their medical data, promoting an environment of collaboration where each contribution has the potential to drive significant advancements in health and wellness. Through this pioneering model, HealthLynked is dedicated to securing a healthier future for generations to come, making each patient not only a beneficiary of this system but also a contributor to the global health community.
NOTE TO INVESTORS: The latest news and updates relating to HealthLynked are available in the company’s newsroom at https://IBN.fm/HLYK
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