Earnings: Trxade Health (MEDS) reports 16% rise in FY22 revenue; loss narrows

Trxade Health, Inc. (NASDAQ: MEDS), a leading health service IT company, reported a double-digit increase in revenues for fiscal 2022. The company’s full-year net loss narrowed from the prior year.

Revenues increased 16% from last year to $11.45 million. As a result, the net loss attributable to Trxade Health narrowed to $3.47 million or $0.41 per share in fiscal 2022 from $5.32 million or $0.65 per share in the twelve months ended December 2021.

“I am pleased with the growth we have experienced in our Trxade platform. We continue to achieve key milestones in our internal roadmap with a focus on innovation and development through our various complementary growth opportunities,” said Trxade’s CEO Suren Ajjarapu.

Trxade’s stock has gained about 52% since the beginning of the year. The shares closed Monday’s regular trading session sharply higher.

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