Avricore Health (TSX-V:AVCR, OTC:AVCRF) Inc has announced record reveues for its fiscal year 2022 of over $1.75 million, up from $122,808 in 2021.
The firm also continued to narrow the gap to net profitability, according to its results statement.
The Vancouver-based pharmacy service innovator said the increase in revenue was due to the significant expansion of HealthTab systems deployed and tests sold.
“We are seeing the powerful impacts on patient outcomes with HealthTab in the hands of pharmacists and believe the era of better care has finally arrived,” Avricore Health (TSX-V:AVCR, OTC:AVCRF) CEO Hector Bremner said in a statement.
Avricore also noted that $252,000 in revenue was deferred to the first quarter of 2023 as the test products sold did not reach their destination in time to be recognized as 4Q 2022 revenues.
The company added that its comprehensive loss for the year improved to $818,228 from $1,708,132 in 2021.
As well, Avricore said it has begun discussions with several additional HealthTab clients and is currently working through the data security and other reviews required before any deployments.
Avricore Health (TSX-V:AVCR, OTC:AVCRF) is a pharmacy service innovator focused on acquiring and developing early-stage technologies aimed at moving pharmacy forward. Through its flagship offering HealthTab, a wholly owned subsidiary, the company’s mission is to make actionable health information more accessible to everyone by creating the world’s largest network of rapid testing devices in community pharmacies.
Contact Sean at sean@proactiveinvestors.com