Business
Helius Medical Technologies, Inc. Announces Preliminary Results for the Fourth Quarter and Full Year 2022
-- Q4 2022 revenue projected to range from $275,000 to $285,000 ---- Full year 2022 revenue projected to range from $780,000 to $790,000 ---- Unaudited year
About this update from Solana Company
[{"type":"text","content":"-- Q4 2022 revenue projected to range from $275,000 to $285,000 ---- Full year 2022 revenue projected to range from $780,000 to $790,000 ---- Unaudited year end cash balance of $14.5 million -- NEWTOWN, Pa., Jan. 23, 2023 (GLOBE NEWSWIRE) -- Helius Medical Technologies, Inc. (Nasdaq:HSDT) (“Helius” or the “Company”), a neurotech company focused on neurological wellness, today announced preliminary, unaudited results for the quarter and full year ended December 31, 2022, and provided a corporate update. Business Highlights and Preliminary, Unaudited 2022 Financial Results Revenue for the fourth quarter of 2022 is anticipated to be in the range of $275,000 and $285,000, a sequential increase of approximately 40% over the third quarter of 2022, reflecting the U.S. commercial launch of PoNS® for multiple sclerosis (MS) during the second quarter and increased quarterly sales of PoNS in CanadaRevenue for full year 2022 is anticipated to be in the range of $780,000 and $790,000, an increase of approximately 50% over full year 2021Expected 2022 year-end cash, cash equivalents and restricted cash balance of $14.5 million, compared to $16.7 million as of September 30, 2022, reflecting the Company’s ongoing efforts to closely manage cash burnIntroduced UpScript Telehealth e-commerce site, making it easier for Americans with MS to access online health evaluations, fulfill PoNS Therapy prescriptions, and obtain PoNS through home delivery, with initial shipments occurring in January 2023Launched online module for physical therapists seeking to treat gait deficit in adults with MS, standardizing the process and reducing training time to bring faster relief to patients “We are very pleased with our preliminary fourth quarter revenue performance, which was driven in large part by the U.S. commercial launch of PoNS Therapy earlier in the year. PoNS is a breakthrough technology for people suffering from gait and balance impairment, and we are dedicated to ensuring access to qualifying patients. In July 2022, we introduced our online training curriculum, enabling physical therapists to access PoNS training online, in three hours, or less, at the therapist’s own pace. More recently, we launched an e-commerce site to facilitate patients’ access to PoNS therapy,” said Dane Andreeff, President and Chief Executive Officer of Helius. “With these importan...