TRxADE Health (NASDAQ: MEDS), a health services IT company focused on digitalizing the retail pharmacy experience by optimizing drug procurement, the prescription journey and patient engagement in the United States, has reported its Q4 and fiscal year 2021 numbers. The company also reported operational highlights and noted that in 2022 it is continuing a strategic nationwide expansion of its breakthrough digital healthcare services IT platform. The report stated that in the fourth quarter, TRxADE added 175 registered members to its drug-procurement marketplace, bringing the total registered members to more than 13,100 by the end of the year. Revenues for the same period rose 19.7% to $2.4 million, compared to $2 million revenues in the same period in 2021. TRxaDE Q4 gross profit increased 831% to $1.24 million compared to $0.1 million in the same quarter last year. Revenues for the full year sloped downward to $9.9 million, compared to $17.1 million in 2020; the decrease was attributed to revenue generated in 2020 by Integra Pharma Solutions, TRxADE’s wholly owned subsidiary, whose sales of Personal Protective Equipment (“PPE”) declined in in 2021 as the COVID-19 pandemic eased. Gross profit in fiscal 2021 for the company declined to $4.7 million compared to $5.7 million for the year before.
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About TRxADE Health Inc
TRxADE Health is a health services IT company focused on digitalizing the retail pharmacy experience by optimizing drug procurement, the prescription journey and patient engagement in the U.S. The company operates the TRxADE drug procurement marketplace serving more than 13,100 members nationwide, fostering price transparency and, under the Bonum Health brand, offering patient-centric telehealth services. For more information about the company, please visit www.Trxade.com and www.BonumHealth.com.
NOTE TO INVESTORS: The latest news and updates relating to MEDS are available in the company’s newsroom at http://ibn.fm/MEDS
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