TRxADE HEALTH, Inc. Stock Price, News & Analysis

TRxADE Group has announced the launch of GPO+, a new group purchasing option aimed at enhancing the drug procurement process for independent pharmacies. The signing of QualityCare Pharmacies, a New York-based pharmacy group, marks a significant milestone in this initiative. Members of QualityCare will benefit from competitive pricing and innovative rebates, facilitating greater purchase volumes on the TRxADE platform. The CEO highlighted a commitment to helping independent pharmacies thrive amidst challenging market conditions, emphasizing the value this program adds for shareholders.

Trxade Group (NASDAQ: MEDS) has launched a suite of government-targeted solutions through its subsidiary Medcheks to facilitate post-COVID-19 reopening. The offering includes a health passport app, risk assessments, and temperature screening kiosks. These tools aim to help governments comply with evolving health mandates as travel resumes. Medcheks emphasizes customization for varying international guidelines, enhancing technology measures for public safety. Initial discussions with national governments indicate potential growth as global reopening processes progress.

Trxade Group (NASDAQ: MEDS) reported a 39% increase in first quarter revenues, reaching $3.1 million compared to $2.2 million in Q1 2020. Despite revenue growth, the company faced a 16% decline in gross profit, totaling $1.4 million (45% gross margin) due to increased costs associated with Personal Protective Equipment. A net loss of $0.7 million was reported, contrasting with a net income of $0.2 million in the previous year. Adjusted EBITDA also fell to negative $0.5 million. Cash reserves stood at $5.2 million.

Trxade Group, Inc. (NASDAQ:MEDS) will release its financial results for Q1 2021 on April 26, 2021, after market close. Management will host a conference call the same day at 5:00 p.m. Eastern time to discuss the results, followed by a Q&A session. Participants can join via U.S. dial-in or international dial-in options. The call will have a replay available until May 26, 2021. Trxade Group focuses on digitalizing the retail pharmacy experience and operates the TRxADE drug procurement marketplace with over 11,800 members, enhancing price transparency in the sector.

Trxade Group, Inc. (NASDAQ:MEDS), a health services IT company, will present at the Planet MicroCap Showcase via a virtual format from April 20-22, 2021. CEO Suren Ajjarapu is scheduled to present on April 21 at 12:30 p.m. ET and will also hold one-on-one meetings during the event. The showcase aims to enhance the pharmacy experience through drug procurement optimization and patient engagement. A live audio webcast of the presentation will be available online.

Trxade Group, Inc. (NASDAQ: MEDS) reported strong financial results for Q4 and FY 2020. Revenues for Q4 2020 increased by 17.1% to $2 million, while full-year revenues surged 130.3% to $17.1 million, driven by Trxade Platform and PPE sales. However, gross profit declined 90% in Q4, with a net loss of $2.3 million. The company expanded its drug procurement marketplace, added over 328 new members, and launched the MedCheks subsidiary for a Digital Health Passport. Operating expenses rose significantly due to goodwill impairment and increased staff for B2C expansion.

Trxade Group, Inc. (NASDAQ:MEDS) will announce its financial results for the fourth quarter and fiscal year 2020 after market close on March 29, 2021. Management will hold a conference call on the same day at 5:00 p.m. Eastern time to discuss the results, followed by a Q&A session.

Investors can join via U.S. dial-in at 1-877-425-9470 or internationally at 1-201-389-0878. A playback will be available until April 29, 2021, and a webcast will also be accessible for 30 days on their investor relations site.

Trxade Group (NASDAQ:MEDS) will present at several virtual investor conferences in March 2021. CEO Suren Ajjarapu will host pre-recorded presentations and participate in one-on-one meetings.

The events include:

• H.C. Wainwright Global Life Sciences Conference: March 9-10, 2021.
• ROTH Growth Stock Conference: March 15-17, 2021.
• Maxim Group Emerging Growth Conference: March 17-18, 2021.

Trxade Group specializes in digitalizing the retail pharmacy experience, operating a drug procurement marketplace with over 11,800 members.

Trxade Group, Inc. (NASDAQ:MEDS) has appointed technology leader James Ram to head its new subsidiary, MedCheks LLC, which aims to launch a Digital Health Passport. This application will enable users to securely display their vaccination and test results, facilitating safer travel and access to events. Ram's extensive background in technology and healthcare, including his work on biometric systems, is expected to drive the initiative. The digital passport leverages encryption and blockchain technology to ensure data privacy, paving the way for economic reopening post-pandemic.