Press release
NUTEX HEALTH ANNOUNCES 2022 Q1 FINANCIAL RESULTS FOR PRE-MERGER CLINIGENCE HOLDINGS, INC.
HOUSTON, May 13, 2022 /PRNewswire/ -- Nutex Health Inc. ("Nutex Health" or the "Company") (NASDAQ: NUTX), a physician-led, technology-enabled healthcare
About this update from Nutex Health Inc.
[{"type":"text","content":"HOUSTON, May 13, 2022 /PRNewswire/ -- Nutex Health Inc. (\"Nutex Health\" or the \"Company\") (NASDAQ: NUTX), a physician-led, technology-enabled healthcare services company comprised of a hospital division with 21 facilities in 8 states and a primary care-centric, risk-bearing population health management division, today announced fiscal year 2022 1st Quarter financial results for the three months ended March 31, 2022 for the pre-merger Company.\nOn April 1, 2022, subsequent to the fiscal quarter ended March 31, 2022, Clinigence Holdings, Inc. (now known as Nutex Health Inc.), consummated the previously announced merger (the \"Merger\") with Nutex Health Holdco LLC (\"Nutex Holdco\"), which survived the Merger as a subsidiary of the Company. Year-end 2021 audited historical financial results for pre-merger Nutex Holdco and unaudited pro forma financial information for the combined company will be disclosed, as required, within 71 days of the due date of the Company's Form 8-K originally filed on April 4, 2022.\nNOTE: The 2022 1st QUARTER FINANCIAL RESULTS DESCRIBED HEREIN REFLECT THE PRE-MERGER COMPANY AND THEREFORE ONLY INCLUDE THE FINANCIAL RESULTS OF CLINIGENCE HOLDINGS, INC., PRIOR TO THE MERGER WITH NUTEX HOLDCO ON APRIL 1, 2022.\nFinancial Highlights for the Three Months Ended March 31, 2022 Compared to the Three Months Ended March 31, 2021:\nNet revenue of $6.2 million as compared to net revenue of $2.0 million in the comparable period of 2021. This revenue only reflects the revenue of pre-merger Clinigence Holdings, Inc. and does not reflect the Q1 revenue of pre-merger Nutex Health.profit of $1.7 million as compared to gross profit of $426,872 in the comparable period of 2021. This gross profit only reflects the gross profit of pre-merger Clinigence Holdings, Inc. and does not reflect the Q1 revenue of pre-merger Nutex Health.Net income (loss) attributable to Clinigence Holdings, Inc. of ($16.8 million) as compared to net income (loss) of ($4.5 million) in the comparable period of 2021. This net income (loss) only reflects the net income (loss) of pre-merger Clinigence Holdings, Inc. and does not reflect the Q1 net income of pre-merger Nutex Health. Of the $16.8 million loss, $14.2 million was due to non-cash stock-based compensation expense and $1.2 million was due to non-recurring legal and accounting fees related to...