Mobile-health Network Solutions H1 2024 Revenue $6.6M Up From $3M YoY; Expanded Its Headcount And Expenses To Meet Increased Operational Demand And Explore New Market Opportunities, Resulting In An Increase In Net Loss Of $171,634; Cash And Cash Equivalents At December 31, 2023 Was ~$2.5M
Portfolio Pulse from Benzinga Newsdesk
Mobile-health Network Solutions (NASDAQ:MNDR) reported a 120% YoY revenue increase to $6.6M for H1FY24, driven by higher telemedicine consultations and dynamic pricing. Despite a 218% rise in gross profit, net loss increased by $171,634 due to expanded headcount and expenses.
May 21, 2024 | 3:04 pm
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Mobile-health Network Solutions (NASDAQ:MNDR) reported a significant 120% YoY revenue increase to $6.6M for H1FY24, driven by higher telemedicine consultations and dynamic pricing. Gross profit rose by 218%, but net loss increased by $171,634 due to expanded headcount and expenses.
The significant revenue growth and increase in gross profit are positive indicators for MNDR's financial health and market position. However, the increase in net loss due to higher expenses may concern some investors. Overall, the positive revenue and profit trends are likely to outweigh the concerns about increased expenses in the short term.
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