Business
Ainos Reports Fourth Quarter and Full Year 2022 Financial Results
Revenues increased by 3,832% year over yearDebt ratio improved to 7% from 75% at year-end 2021SAN DIEGO, CA / ACCESSWIRE / March 31, 2023 / Ainos, Inc.
About this update from Ainos, Inc.
[{"type":"text","content":"Revenues increased by 3,832% year over yearDebt ratio improved to 7% from 75% at year-end 2021SAN DIEGO, CA / ACCESSWIRE / March 31, 2023 / Ainos, Inc. (NASDAQ:AIMD, AIMDW) (\"Ainos\", or the \"Company\"), a diversified medtech company focused on the development of novel point-of-care testing, low-dose interferon therapeutics, and synthetic RNA-driven preventative medicine, today announced its financial results for the fourth quarter and full year ended December 31, 2022.Fourth Quarter 2022 Financial HighlightsRevenues were US$1,038,025 in the fourth quarter of 2022, up 3,832% year over year.Gross profit was US$459,815, up 2,668% year over year, representing a gross margin of 44.3% in the fourth quarter of 2022.Chun-Hsien Tsai, Chairman of the Board, President, and Chief Executive Officer of Ainos, commented, \"We delivered continued revenue growth in the fourth quarter and full year of 2022. At the same time, we made important progress in unlocking the potential of our key VOC POCT and VELDONA® technologies. We recently signed two memoranda of understanding (MoU) to further develop our VELDONA® formulation. Our MoU with Tah-An Chemical & Pharmaceutical Co., Ltd, a leading Taiwanese animal drug manufacturer, involves exploring the feasibility of manufacturing an animal investigational new drug based on our VELDONA® formulation. Our MoU with Merdury Biopharmaceutical Corp., a publicly-listed Taiwanese biopharma company, will focus on developing a strategic business relationship and collaboration on a Phase 3 Study of a VELDONA® drug candidate for treatment of oral warts in HIV-seropositive patients. Furthermore, we reached an agreement with Topmed International Biotech Co., Ltd. for exclusive distribution of our VELDONA® animal health supplements in Taiwan. We continue to forge ahead with our strategy of diversifying and expanding our revenue streams by monetizing our product portfolio and leveraging our intellectual property patents. To this end, our strategic priorities in 2023 include commercialization of our lead VOC POCT candidate, Ainos Flora, powered by our AI Nose platform, and exploration of further out-licensing opportunities for our VELDONA® candidates. Going forward, we will continue to advance and develop our innovative technologies while delivering long-term growth to our shareholders.\"Hui-Lan Wu, Chief Financial O...