Subject: RXMD Puts Together Best Nine Month Revenue Period Continuing Hot Streak Read More About Their Q3 Financials

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RXMD Puts Together Best Nine Month Revenue Period Continuing Hot Streak Read More About Their Q3 Financials
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Company: Progressive Care Inc. (OTCQB: RXMD)


Price: 0.0635

Change (%): + 0.005 (8.55)

Volume: 194,288
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Progressive Care Inc. Reports Best Nine-Month Revenue Period in Company History in Q3 2018 Financial Filing

MIAMI, Nov. 15, 2018 (GLOBE NEWSWIRE) - Progressive Care Inc. (OTCQB: RXMD), a personalized healthcare services and technology company, today announced financial results for the quarter ending Sept. 30, 2018, as well as provided an overview of recent operational highlights along with updates on the Company’s strategies.

Progressive Care dispensed 212,000 prescriptions during the nine-month period ending Sept. 30, 2018, an increase over the same period last year of 30%. During Q3 2018, the Company experienced continued growth over last year, showing a 6% increase in total revenue over Q3 2017. Total revenue for the nine-month period ending Sept. 30, 2018, was approximately $15.6 million, the largest nine-month period in the Company’s history and an increase of 4% over 2017. Additionally, Progressive Care’s total assets were $3,221,368 as of Sept. 30, 2018, compared to $2,492,125 as of Sept. 30, 2017 - an increase of 29.26%.

Progressive Care also reported raising over $1.4 million for 340B charitable organizations during Q3 2018, and $4.1 million total for the nine-month period ending Sept. 30, 2018. The Company’s total reported revenue included approximately $188,000 in fees earned on dispensing prescription medications to patients under 340B programs. The Company expanded its revenue growth in this area through the signing of two new 340B contracts that it began fulfilling in Q4 2018.

“We are thrilled to announce that we have seen significant year-over-year growth in Q3 and record-breaking sales during another quarter of significant growth compared to last year,” said S. Parikh Mars, CEO of Progressive Care Inc. “The Company is also generating other significant value, including the diversity of its service offerings and investing in initiatives including advertising, staffing, technology and consulting for our future plans for expansion. Our revenue is up, new technology is being developed and we are working on the deployment of our Tele-PharmCo proprietary patient software through Kiosks placed strategically in hospitals and healthcare facilities. Even though the industry is facing a significant headwind, our topline sales are up 4% and we are investing in the future of the pharmacy industry. Since the beginning of 2018, we’ve seen the biggest nine-month revenue period to date with the most prescriptions filled and the most revenue and sales to date with the acquisition of our second location.”

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