Earnings: Trxade Health (MEDS) reports 6% drop in Q3 revenue; loss narrows

Trxade Health Inc (NASDAQ: MEDS), a leading health service IT company, reported a modest decline in its third-quarter revenues. Meanwhile, the company’s net loss narrowed sharply from the prior-year period.

Third-quarter revenues declined 6% year-over-year to $2.40 million. Despite that, Trxade’s net loss narrowed to $0.50 million or $0.06 per share in the September quarter from $1.30 million or $0.16 per share in the comparable period of fiscal 2021.

“These first nine months of 2022 have been an exciting and challenging time for TRxADE. We continue to focus the Company’s strategic plans and partnerships working towards creating sustainable value for our stockholders. 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.

Check this space to read management/analysts’ comments on Trxade’s Q2 2022 results

Shares of Trxade traded slightly lower early Tuesday, after closing the previous session lower. In the past six months, the stock experienced volatility.

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