Wednesday, October 8, 2025

Latest

CloudMD Posts Record Revenues of $3.1 Million

CloudMD Software & Services (CSE: DOC) this morning released its first quarter 2020 financials, reporting record revenues of $3.1 million at a gross margin of 41%, an increase of 178% on a year over year basis.

The firms revenues consisted of $2.6 million within its clinic services and pharmacies division, while $0.4 million came from its SAAS model digital services. After deducting physician fees and costs of goods sold, the company saw a gross profit of $1.3 million.

Associated operating expenses during the quarter totaled out at $3.0 million, with wages and salaries being the highest expense at $1.2 million, followed by stock based comp at $0.4 million and professional fees at $0.4 million. The company posted a net loss of $1.6 million for the three month period ended March 31, 2020.

Looking towards the balance sheet, the company saw its cash position improve to $2.8 million from that of $1.7 million, bolstered by a $3.0 million financing conducted during the period. Prepaid expenses also increased, from $0.3 million to $0.8 million. Total current assets improved over the course of the quarter from $3.4 million to $4.8 million.

Liabilities also increased however, with accounts payable growing from $0.9 million to $1.8 million. Other current liabilities grew slightly, from $0.9 million to $$1.1 million. Total current liabilities grew from $2.6 million to $3.9 million.

It should also be noted that subsequent to the quarter the company saw several positive developments, including a $13 million financing to be clsoed tomorrow, along with a significant partnership with Save-On-Foods and Pure Integrative Pharmacies.

CloudMD last traded at $0.83 on the CSE.


FULL DISCLOSURE: CloudMD Software & Services is a client of Canacom Group, the parent company of The Deep Dive. The author has been compensated to cover CloudMD Software & Services on The Deep Dive, with The Deep Dive having full editorial control. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security.

Video Articles

Fortune Bay: The Potential Billion Dollar Project

Japan Gold Enters New Chapter as Barrick Alliance Concludes – John Proust

Barrick Mining’s “Company Defining [Gold] Discovery”

Recommended

Nord Precious Metals Produces High Grade Silver Concentrate From Tailings

ESGold Secures $9 Million In Non-Dilutive Funding From Ocean Partners

Related News

CloudMD Telehealth Platform Increases Onboarding

CloudMD Software & Services (CSE: DOC) announced this morning that they are currently in the...

Monday, March 9, 2020, 07:52:56 AM

CloudMD To Conduct Review On VisionPros Purchase Following Receipt Of Claims

It appears that CloudMD’s (TSXV: DOC) $60 million acquisition of VisionPros last year is already...

Monday, January 24, 2022, 08:31:06 AM

CloudMD: Canaccord Lowers Target After Leading $55 Million Bought Deal

On March 9th, CloudMD Software & Services (TSXV: DOC)  announced that their C$55 million bought...

Tuesday, March 16, 2021, 04:08:00 PM

CloudMD Sells Several Assets At A Loss To Well Health

CloudMD Software & Services (TSXV: DOC) is apparently in the process of selling off certain...

Tuesday, October 11, 2022, 09:32:29 AM

Canaccord: CloudMD’s Third Quarter Results Were “In The Range Of Expectations”

On November 30th, CloudMD Software & Services (TSXV: DOC) reported its third-quarter financial results. CloudMD...

Tuesday, December 1, 2020, 03:41:00 PM