On November 27, 2019 MedX Health Corp. ("MedX" or the "Company") (TSX-V: MDX) reported its results for the three and nine-months ended September 30, 2019, which are also available on SEDAR (www.sedar.com) (Press release, MedX Health, NOV 27, 2019, View Source [SID1234551762]).
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The Company reported revenue of $234,977 for the three months ended September 30, 2019, compared with revenue of $180,404 for the three months ended September 30, 2018. Revenues from the Company’s therapeutic laser line of $177,437 were 41% higher than in the prior year. SIAscopy revenues of $57,541 also showed improvement over the 2018 three-month period. The Company reported a loss for the three months ended September 30, 2019 of $577,648 or $0.00 per share compared with a loss of $919,935, or $0.01 per share for the three months ended September 30, 2018.
The Company reported revenue of $678,886 for the nine months ended September 30, 2019, compared with revenue of $812,233 for the nine months ended September 30, 2018. Revenues from the Company’s therapeutic laser line of $574,070 were up 13% for the nine-month period, while SIAscopy revenues were lower than the prior year. The Company reported a loss for the nine months ended September 30, 2019 of $2,086,892 or $0.01 per share compared with a loss of $3,171,333, or $0.02 per share for the nine months ended September 30, 2018.
"We experienced an increase in our SIAscopy product sales in Q3, a positive sign, with our Brazilian distribution partners participating in industry conferences and building the awareness level and interest in our DermSecure telemedicine platform by local dermatologists, as we get closer to regulatory approval in that country," noted Scott Spearn, CEO of MedX. "We expect to see further interest and increased revenue from the platform as we move into 2020, as the market realizes the benefits of our technology and how we can be a leader in shortening wait times, saving lives and lowering costs to the health care system. In addition, sales from our therapeutic laser products were solid again this quarter, up 41% over last year in Q3, and now 13% higher on a year-to-date basis."