Business
NexgenRx Announces Q2 2019 Results
TORONTO, ON / ACCESSWIRE / August 16, 2019 / NEXGENRX INC. ("NexgenRx" or the "Company") is ...
About this update from Nexgenrx Inc.
[{"type":"text","content":"NexgenRx Announces Q2 2019 ResultsTORONTO, ON / ACCESSWIRE / August 16, 2019 / NEXGENRX INC. (\"NexgenRx\" or the \"Company\") is pleased to announce its Q2 2019 results, with the quarter continuing to provide positive revenue growth.Excluding the acquisitions, revenue from new clients grew 30% year over year. On a consolidated basis revenue is expected to remain consistent for the balance of the fiscal year. Although profitable on a year to date basis, the second quarter ended with a small loss of $34,938 reflecting investments in prospective clients and technology upgrades. On a year over year basis, revenue increased by 57% as a result of new client revenues and the integration of My Benetech and Canadian Benefit Administrators.I am delighted, as noted above, that our year to date, our financial results have swung from a loss in 2018 to a profit in 2019. Second quarter EBITDA was a positive $243,306 vs. a negative $250,550 in the comparable quarter, reflecting the continued execution of our business plan” stated Ron Loucks, President & CEO.About NexgenRxNexgenRx is Canada's only independent full service technology solutions provider, offering proprietary full front end enrolment, hour bank and mobile access capabilities, combined with state of the art claims adjudication and full provider network coverage. These combined capabilities allow NexgenRx to provide complete proprietary solutions to plan sponsors that need sophisticated front end administration and health benefit technology applications, all in a cost- effective manner. NexgenRx is committed to building partnerships with organizations looking to exceed the expectations of their clients and plan members and deliver superior administration and claims processing solutions at a competitive cost. More information on NexgenRx can be found at www.nexgenrx.com.Caution Regarding Forward-Looking Statements Except for statements of historical fact, this news release contains certain \"forward-looking information\" within the meaning of applicable securities law. Forward-looking information is frequently characterized by words such as \"plan\", \"expect\", \"project\", \"intend\", \"believe\", \"anticipate\", \"estimate\" and other similar words, or statements that certain events or conditions \"may\" or \"will\" occur. In particular, forward-looking information in t...