Trxade Health beats on Q3 revenue estimate

Trxade Health Inc (NASDAQ: MEDS) on Monday posted third-quarter revenues of $2.6 million, down year-over-over as a result of non-recurring PPE sales. However, this was higher than what analysts had anticipated.

For Q3, the company posted a net loss of $0.16 per share, which was wider than the street expectation by 3 cents.  

MEDS shares were trading flat during the aftermarket hours on Monday. The stock has dipped 14% over the past six months.

CEO Suren Ajjarapu said in a statement, “We are focusing new strategic partnerships to drive forward our core business while diversifying our revenue base and leveraging our existing strengths through Bonum Health. Taken as a whole, we believe we are building an incredibly compelling healthcare ecosystem – allowing consumers access to affordable healthcare while building an exciting value proposition for our shareholders.”

In the third quarter, the Tampa, Florida-based firm added about 250 new registered members to its network. The company now has over 12,950 registered pharmacy members.

Trxade, which brings together independent pharmacies under one umbrella through its web-based purchasing platform, is present in all 50 states and is rapidly adding pharmacies to its network.

Prior Performance

For more insights into Trxade Group, access the latest research summary.