MEDS Earnings: Trxade Health Q2 revenues surge 73% amid continued user growth

Trxade Health Inc (NASDAQ: MEDS), a leading health service IT company, reported a sharp increase in its second-quarter 2022 revenues. The top line also exceeded experts’ consensus estimates.

Second-quarter revenues jumped 73% from last year to $3.28 million, which also came in above analysts’ estimates. Consequently, the company’s net loss narrowed to $1.08 million or $0.13 per share in the June quarter from $2.58 million or $0.32 per share in the comparable period of fiscal 2021

Continuing the expansion of its drug procurement marketplace nationwide, the company added 319 new registered members in the second quarter and 685 new members during the first half of 2022. It had around 13,816 registered members at the end of the quarter.

“2022 is an exciting time for TRxADE, as we continue to position ourselves to create sustainable value for our stockholders. I am pleased with the growth we have experienced in our TRxADE and TRxADE Prime platforms. We continue to achieve several 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 higher early Tuesday, extending the post-earnings uptrend. They have gained about 24% in the past thirty days.

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