Friday, September 12, 2025

Latest

CloudMD Posts $8.8 Million In Revenue, $5.3 Million Net Loss For Q1 2021

CloudMD Software & Services Inc. (TSXV: DOC) last night released its Q1 2021 financial results, which saw the company post quarterly revenue of $8.8 million. This is an increase both from Q4 2020’s $5.8 million revenue and Q1 2020’s $3.1 million revenue.

The company primarily attributes the increase to its acquisition growth strategy. CloudMD completed 5 acquisitions during the quarter and 11 acquisitions in the last twelve months. 

Looking at the financials, the gross margin for the quarter was at 41%, up from 40% in Q4 2020 and 37% in Q1 2020. CloudMD also ended the quarter with a $5.3 million net loss, compared to a $5.2 million net loss last quarter and a $1.6 million net loss last year. This quarter’s loss translates to a $0.03 loss per share.

The company, however, expects the acquisitions completed during the quarter and the $58.2 million proceeds from a recent bought deal financing to reflect growth in the financial bottom line.

At the end of Q1, CloudMD has $99.2 million in cash and cash equivalents, $95.0 million of which is cash on hand. After closing the VisionPros and Oncidium acquisitions in June 2021, the company expects to have a cash balance of $35.0 million, an annual revenue run rate beyond $120 million, and positive adjusted EBITDA.

CloudMD Software & Services Inc. last traded at $1.85 on the TSX Venture.


Information for this briefing was found via Sedar and CloudMD Software & Services. The author has no securities related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

Video Articles

Avino Q2 Earnings: Steady As She Goes

MEG Energy: Cenovus Comes In With $7.9 BILLION Offer

Orla Mining Q2 Earnings: Musselwhite Changes Everything

Recommended

Northern Superior Expands Philibert With 350 Metre Step Out Testing 1.10 g/t Gold Over 25.5 Metres

Goliath Resources Hits 18.58 g/t Gold Over 5.00 Metres At Surebet

Related News

Mark W. Kohler Appointed To CloudMD’s Board of Directors

CloudMD Software & Services (CSE: DOC) announced this morning that it is strengthening its Board...

Thursday, March 19, 2020, 08:47:34 AM

CloudMD Enables Free Telehealth Solutions To 3,000 Healthcare Professionals

CloudMD Software & Services (CSE: DOC) is doing what it can to assist healthcare professionals...

Monday, March 16, 2020, 08:32:34 AM

CloudMD: Canaccord Remains Bullish Following Virtual Conference

Recently, CloudMD Software & Services (TSXV: DOC)‘s CEO Essam Hamza participated in Canaccord Genuity’s Health...

Wednesday, November 25, 2020, 11:11:00 AM

CloudMD Expands Telemedicine Solutions Into US Market With Significant Partnership

CloudMD Software & Services (CSE: DOC) this morning announced that it has entered into an...

Thursday, May 7, 2020, 08:01:51 AM

CloudMD Closes On $60 Million Acquisition Of VisionPros

CloudMD Software & Services (TSXV: DOC) this morning announced the closing of the acquisition of...

Thursday, June 24, 2021, 08:14:28 AM