Earnings release
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CloudMD Software & Services Inc. • . • • • • • CloudMD Reports Solid Performance with Third Quarter 2021 Financial Results ; Record Revenue of $ 39.2M and First Quarter with Positive Adjusted EBITDA Q3 2021 is the first quarter that fully recognizes the financial results from all previously announced and closed acquisitions Record Q3 2021 revenue of $ 39.2 million ; an increase of 150 % compared to Q2 2021 and an increase of 1066 % compared to Q3 2020 First quarter with positive Adjusted EBITDA of $ 0.8 million compared to a loss of $ 0.7 million in Q2 2021 and a loss of $ 1.3 million in Q3 2020 Increased annualized revenue run rate to over $ 185 million demonstrating strategic capital allocation and strong organic growth Increased engagement on the Comprehensive Integrated Health Platform ; added an additional 300,000 employees and family members , resulting in a total of 560,000 individuals Positive client outcomes with Net Promoter Score of 80 , 98 % satisfaction rate and 164 new clients added in the quarter Program with Sun Life delivered proven data - driven individual health outcomes including : ○ 89 % of those experiencing depression and 91 % of those experiencing anxiety noticed ' major improvements ' 82 % said they would recommend the service based on their own experience 46 % increase in plan members utilizing their mental health benefits for the first time VANCOUVER , British Columbia , November 29 , 2021 - CloudMD Software & Services Inc. ( TSXV : DOC , OTCQB : DOCRF , Frankfurt : 6PH ) ( the “ Company ” or “ CloudMD ” ) , a healthcare technology company revolutionizing the delivery of care , announced its financial results for the third quarter ended September 30 , 2021. All financial information is presented in Canadian dollars unless otherwise indicated . " This was a milestone quarter for CloudMD as it's the first quarter we recognized full revenue contributions from all the recently closed acquisitions and clearly demonstrated that our whole - person , patient - centric approach to healthcare is working . We've onboarded 560,000 individuals onto our Comprehensive Integrated Health Platform and are providing valuable data - driven outcomes , which is proven by our successful program with Sun Life where 89 % of those experiencing depression and 91 % of those experiencing anxiety noticed major improvements . We've also achieved positive client outcomes across engagement , attachment rate , and net promoter scores , " said Dr. Essam Hamza , CEO of CloudMD . " I am extremely proud of the Company's progress and the team's ability to execute on our growth strategy across all divisions , which is evident by new clients wins , rapid growth and improved profitability . Our unique , proprietary healthcare offering is an industry first , and I'm confident that we will be able to continue our North American and global expansion . " Third Quarter 2021 Financial Highlights