Vaso Corp Stock Price, News & Analysis

Vaso Corporation (OTCMKTS:VASO) has received approval to up-list from the OTC Pink Sheets to the OTCQB market, effective October 10, 2022. This transition enhances transparency and compliance, facilitating greater trading liquidity and visibility for the company. The CEO, Jun Ma, expressed optimism about showcasing Vaso to a broader investor audience. The company operates in diverse medical technologies, including managed IT services and proprietary medical devices. The up-listing is seen as a strategic move to increase shareholder value and market recognition.

Vaso Corporation reported second quarter 2022 revenue of $19.5 million, up 21% year-over-year, leading to net income of $1.5 million, compared to a loss of $0.9 million last year. Gross profit increased 31% to $11.3 million, driven by the professional sales service segment. SG&A expenses rose 5% to $9.6 million, while cash reserves improved to $15.4 million. Despite challenges in the IT and equipment segments, the company remains optimistic about navigating ongoing economic uncertainties.

Vaso Corporation (OTC PINK:VASO) reported Q1 2022 financial results, showing a 3.0% year-over-year increase in revenue to $17.0 million and a 14.1% increase in gross profit to $9.8 million. The operating loss decreased by 34.3% to $0.4 million. Total deferred revenue reached a record $27.0 million, up by $8.5 million year-over-year. Despite a decrease in IT and equipment segment revenues due to external factors, the company’s financial health remains strong with $13.1 million in cash as of May 6, 2022.

Vaso Corporation (OTC PINK:VASO) reported its financial results for the year ended December 31, 2021, achieving total revenue of $75.6 million, an 8.2% increase year-over-year. The company also posted an operating profit of $2.8 million, up 265%. The fourth quarter alone saw a 31.1% revenue increase to $24.5 million. Gross profit rose 11.8% to $43.1 million, while net income for the year reached $6.1 million. The company reduced its debt by $8.1 million and reported deferred revenue of $25 million, indicating positive future outlook.

Vaso Corporation reported a 6% year-over-year revenue increase for Q3 2021, reaching $18.4 million. The operating loss was reduced by 29% to approximately $0.6 million. Adjusted EBITDA stood at $1.4 million, a decline from $1.8 million in Q3 2020. Despite a rise in SG&A expenses by 12% to $9.5 million, net income fell to $0.7 million from $1.0 million in the same period last year. The company maintains a strong cash position with $5.4 million in operating cash flow in 2021.

Vaso Corporation (OTCMKTS:VASO) announced the extension of its sales representation agreement with GE Healthcare through December 31, 2026. This agreement, originally signed in 2010, allows VasoHealthcare to exclusively represent select GE Healthcare diagnostic imaging products across the contiguous United States. Vaso's president praised the partnership, highlighting the success built over 11 years due to GE's quality products and services. The extension emphasizes Vaso's commitment to its collaborative goals in the healthcare sector.

Vaso Corporation reported a net income of $2.8 million for Q2 2021, primarily due to the forgiveness of a $3.6 million PPP loan. Revenue for the quarter totaled $16.1 million, slightly down from $16.3 million in Q2 2020. The company experienced an operating loss of $0.7 million, compared to $0.6 million in the prior year. For the first half, revenue was $32.7 million, down from $33.5 million year-over-year. Operating cash flow improved by 39% to $5.6 million.

Vaso Corporation (OTC PINK:VASO) announced that its $3.6 million Paycheck Protection Program (PPP) loan, received in April 2020, has been fully forgiven by the Small Business Administration (SBA). This forgiveness will be recognized as other income in the quarterly financial report for the period ending June 30, 2021. Vaso operates through three subsidiaries focused on managed IT services, diagnostic imaging sales, and proprietary medical device manufacturing. The company continues to navigate business uncertainties, including the ongoing impact of the COVID-19 pandemic.

Vaso Corporation (OTCMKTS:VASO) reported its Q1 2021 operating results, revealing total revenue of $16.5 million, a 4% year-over-year decrease. However, the company significantly reduced its operating loss from $1.4 million to $539 thousand, attributed to enhanced operational efficiency. All business segments reported improvements, with IT and equipment achieving profitability. Positive cash flow of $5.5 million was generated, indicating a strong cash position post-debt paydown. Vaso anticipates a recovery in top-line performance as the economy reopens.