MEDADVISOR has announced an update on its activities for the quarter ended 31 Mar (Q3 FY23) where its operating revenue is up 50.4% to $17m, from Q3 2022 of $11.3m.
Its US activities went up by 59% to $11.8m, underpinned by increased pharmacy participation in the US digital platform, and as compared with FY2022 of $7.4m.
Australia was up 33% to $5.2m (Q3 FY22 $3.9m), including a three-month contribution from GuildLink of $1.1m, and excluding GuildLink the underlying revenue was up 5.1%.
The Year to Date (YTD) Q3 revenue is $81.1m, up 62.5% (Q3 YTD FY22: $49.9m).
MedAdvisor reported that its gross profit was up $53.7% to $10.3m, exhibiting an increase in gross profit margin of 1.3 ppts on the personal contract purchase.
It has a strong capital position with $20.1m cash on hand as at 31 Mar.
MedAdvisor has also expanded its reach of US digital to 70 million individuals, an increase of 10 million (16.7%) individuals over the quarter.
The GuildLink pharmacy integration is on track at 86% complete with 1,288 of the 1,494 GuildLink pharmacies migrated to a MedAdvisor account with the rest due for completion by 30 Jun.
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