Categories AlphaGraphs, Earnings, Health Care

Trxade (MEDS) delivers another quarter of strong revenue growth

Trxade (NASDAQ: MEDS) on Monday posted a 174% increase in third-quarter revenues to $6.3 million, riding on continued strength in PPE sales. The top-line was way ahead of the average Wall Street consensus of $3.01 million. 

Meanwhile, net income came in at $0.02 per share, a cent shy of the street consensus.

Trxade Group Q3 2020 earnings

CEO Suren Ajjarapu said in a statement, “The COVID-19 pandemic has only underscored the importance of an integrated platform like ours, which enables independent pharmacies to remain competitive and profitable in a changing drug procurement marketplace.”

MEDS stock shot up 34% during after-market hours on the stronger-than-expected revenues. The stock has declined 18% since the beginning of this year.

In the third quarter, the Tampa, Florida-based firm added 144 new independent pharmacies to its network. The company now has approximately 11,800 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

Most Popular

Lyft (LYFT) expects average ride volumes to improve through Q1 2021

Shares of Lyft Inc. (NASDAQ: LYFT) were up 8% in afternoon hours on Wednesday. The stock has gained 53% over the past 12 months and 25% since the beginning of

With new strategy in place, Target looks poised to tap growing online demand

Department store chain Target Corp. (NYSE: TGT), which has been thriving on the pandemic-driven shopping boom since early last year, maintained its strong performance during the holiday season and entered

Infographic: Dollar Tree’s (DLTR) performance in Q4

Dollar Tree (NYSE: DLTR) reported fourth-quarter financial results before the opening bell on Wednesday. The discount store reported a 7% increase in Q4 net sales to $6.7 billion. The company

Add Comment
Viewing Highlight