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Reliq Health Technologies Inc. (OTCQB: RQHTF) reported record revenues of $3,472,237 for Q1 FY 2023, a significant increase from $1,608,168 in the same quarter of the previous year. Despite challenges from hurricanes affecting operations, the company anticipates continued growth, particularly from software and services, which rose 291% year-over-year to $1,422,671. Reliq is targeting onboarding over 100,000 new patients by December 2022, extending into the Skilled Nursing Facilities market, expected to add over 120,000 patients annually starting in 2023.
Reliq Health Technologies Inc. (OTC:RQHTF) announces a webinar on November 30, 2022, at 6:00 am PST / 9:00 am EST, to review its annual audited financial results for Q1 FY2023 (July 1 – September 30, 2022) and provide corporate updates. This global healthcare technology firm focuses on innovative Virtual Care solutions, enhancing patient care at home while reducing healthcare costs. For those unable to attend, a recording will be available online shortly after the event.
Reliq Health Technologies (OTCPink:RQHTF) has signed contracts with 15 Skilled Nursing Facilities (SNFs) to enhance its iUGO Care Platform. This expansion aims to improve post-discharge healthcare and reduce readmissions, generating revenue for participating facilities. The onboarding of over 1,000 patients monthly is anticipated, yielding a rate of $60 per patient for Transitional Care Management, alongside recurring revenue of $65 per patient monthly from various services. With the U.S. skilled nursing facility market projected to reach $252 billion by 2032, this venture taps into a rapidly growing segment.
Reliq Health Technologies Inc. (OTC:RQHTF) announced a contract with 15 Skilled Nursing Facilities (SNFs) in California, expected to onboard 1,000 new patients monthly starting in 2023. The iUGO Care platform will provide Transitional Care Management (TCM) at $60 per patient and generate recurring revenue from Remote Patient Monitoring (RPM), Chronic Care Management (CCM), and Behavioral Health Integration (BHI) at $65 per patient per month, achieving a 75% gross margin. This expansion into the Skilled Nursing market highlights Reliq's growth strategy.
Reliq Health Technologies (OTCPink:RQHTF) has expanded its partnership with an existing client to integrate its iUGO Care platform into 50 more Skilled Nursing Facilities (SNFs). This addition is expected to onboard over 5,000 new patients monthly, targeting a potential 60,000 annually. Each patient engagement presents a $60 revenue for Transitional Care Management, with ongoing services generating $65 monthly at a 75% gross margin. The U.S. skilled nursing facility market is poised for growth, projected to reach $252 billion by 2032.
Reliq Health Technologies has expanded its existing contract with a client in Florida, adding 50 Skilled Nursing Facilities (SNFs). This expansion is set to bring an additional 5,000 patients per month to the iUGO Care platform, expected to begin in 2023. The company will charge $60 for Transitional Care Management per patient and $65 monthly for ongoing services like Remote Patient Monitoring, targeting a gross margin of 75%. This move taps into the substantial US SNF market, which consists of over 15,000 facilities and 1.5 million Medicare patients.
Reliq Health Technologies reported a remarkable 485% increase in revenue for the fiscal year ending June 30, 2022, totaling $8,551,807. Revenue from software and services surged by 1,940% to $2,739,516. Despite a temporary drop in gross margins to 62% due to increased device costs, gross profits reached $5,301,304, a significant improvement from a loss of $857,954 the previous year. The company aims to onboard over 100,000 patients by December 2022 and expects to initiate a share buyback program in 2023.
Reliq Health Technologies (OTCQB:RQHTF) reported impressive growth in its audited financial statements for FY 2022, with revenues rising 485% to $8.55 million compared to FY 2021. Revenue from software and services surged by 1,940% to $2.74 million, indicating a strategic shift towards higher-margin offerings. The company plans to onboard over 100,000 patients by December 2022. Additionally, Reliq aims for significant free cash flow in 2023, potentially initiating a share buyback. However, COVID-19 impacted onboarding timelines due to patient health challenges, affecting service billability.
Reliq Health Technologies Inc. (RQHTF) announced a delay in filing its annual audited financial statements and management's discussion for FY 2022, impacting the scheduled shareholder update webinar. The Company’s audit has become more complex due to significant growth since FY 2021. Despite this delay, Reliq confirms that no other material information has been undisclosed. The management, led by CEO Dr. Lisa Crossley, reassures shareholders that the final audit steps are in progress and expects the documents to be filed shortly.
Reliq Health Technologies Inc. (OTC:RQHTF) will host a webinar on October 31, 2022, at 6:30 am PDT / 9:30 am EDT to discuss its annual audited financial statements for FY 2022 (July 1, 2021 – June 30, 2022) and provide a corporate update.
The webinar can be accessed at www.reliqhealth.com/webinar, with a recording available afterwards on the company’s website.