There is an incredible opportunity for our EHS division as industry trends converge with our differentiated product offering. “Our Q2 results reflect the strength of our core Enterprise Health Solutions (“EHS”) business in the face of headwinds and distractions from our non-core business and overhang from previously made acquisitions. All financial information is presented in Canadian dollars unless otherwise indicated. (TSXV: DOC, OTCQX: DOCRF, Frankfurt: 6PH) (the “ Company” or “ CloudMD”), a healthcare technology company revolutionizing the delivery of care, announced its financial results for the second quarter ended June 30, 2022.
DILIGENT BOARDS COST SOFTWARE
22, 2022 (GLOBE NEWSWIRE) - CloudMD Software & Services Inc.
![diligent boards cost diligent boards cost](https://gdm-catalog-fmapi-prod.imgix.net/ProductScreenshot/897e2e67-2a91-4f34-af80-0db8581c71a3.png)
Q2 2022 earnings call Tuesday, August 23 at 9am ET. New contracts represent over 350 new customers within the quarter, adding to the network of 7,200 loyal clients that trust CloudMD to provide services to employees and family members.Īdded over 440,000 net new lives 3 year to date, including those new contracts scheduled to launch in Q3 and Q4.Īdditional $4 million annualized savings identified from continued organizational re-design and integration to be realized starting in the third quarter. Strong customer momentum in core Enterprise Health Solutions division with several large multi-year contract wins representing $4.2 million in ARR closed in the second quarter. Strategic priorities include driving organic growth, further cost optimization and financial stability and prudent cash management. Net loss of $44.2 million during Q2 2022 driven by $33.0 million non-cash impairment charge, compared to loss of $6.6 million in Q2 2021.
![diligent boards cost diligent boards cost](http://a3.mzstatic.com/us/r30/Purple62/v4/c2/a3/e7/c2a3e73e-842f-e447-73cc-9c73e29b00cd/sc552x414.jpeg)
Q2 2022 Adjusted EBITDA 2 loss of $3.2 million compared to a loss of $0.6 million in Q2 2021. Q2 2022 revenue of $40.3 million, an increase of 157% over the same period in 2021.