Mobile-health Network Solutions Sees 1H Revenue Of $6M Vs $3M YoY

Benzinga04-22

Mobile-health Network Solutions (Nasdaq: MNDR) ("Mobile-Health" or the "Company"), a pioneering Asia-Pacific ("APAC") telehealth provider, today provided financial guidance for our anticipated results on our six months ended December 31, 2023 ("H12024").

The Company continues to experience tremendous demand for its telemedicine services. The average monthly telemedicine services provided during H12024 was about 119,000 per month, which was increased by approximately 98.3% during H12024 as compared to about 60,000 telemedicine services per month during the six months ended December 31, 2022 ("H12023").

In line with the increase, the Company expects the revenue to be about US$6 million for H12024, an increase of approximately 100.0% compared to H12023 of about US$3 million.

Our Co-Chief Executive Officer Dr. Rachel Teoh Pui Pui, PBM, Family Physician, commented, "Based on Frost & Sullivan analysis, the estimated penetration rate for telemedicine services in Singapore is only approximately 15% in 2023. Within Singapore, we expect continued strong growth as telemedicine gets increasingly adopted, amidst an aging population. Looking ahead, we will continue to invest in building our lead in this market, as well as exploring expansion geographically."

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