Mobile-health Network Solutions Sees 1H Revenue Of $6M Vs $3M YoY
Portfolio Pulse from Benzinga Newsdesk
Mobile-health Network Solutions (MNDR) anticipates a 100% increase in revenue to $6M for H12024 compared to $3M in H12023, driven by a 98.3% increase in monthly telemedicine services. The company attributes this growth to the rising demand for telemedicine in the Asia-Pacific region, particularly in Singapore, where the penetration rate is estimated at 15% in 2023. Co-CEO Dr. Rachel Teoh Pui Pui highlights the potential for continued growth in Singapore due to an aging population and plans for geographical expansion.
April 22, 2024 | 1:10 pm
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Mobile-health Network Solutions projects a significant revenue increase to $6M in H12024, up 100% YoY, fueled by a sharp rise in telemedicine service demand.
The projected revenue growth for MNDR is directly tied to the increased demand for its telemedicine services, a sector experiencing rapid expansion, especially in the APAC region. The company's focus on Singapore, a market with low penetration but high growth potential, alongside plans for geographical expansion, suggests a positive outlook for its financial performance in the short term. The significant increase in service usage and revenue projection indicates strong operational performance and market acceptance.
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IMPORTANCE 90
RELEVANCE 100