HealthLynked (OTCQB:HLYK) Corp reported a 47% increase in revenue in the second quarter compared to the same period last year as the company grows its Health Services division.
For the three months to June 30, the company posted revenue of $1,710,620 compared to $1,161,510 in 2Q, 2020.
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The firm's HealthLynked Network is a cloud-based platform that allows patients and their health providers to connect and the firm noted that patient appointments had increased 29% to 4,348 in the latest quarter, compared to 3,375 in 2Q, 2020.
Time of service collections also increased 37% quarter-over-quarter, the company also said.
Revenue, however, in the second quarter this year was down 4% compared to the first quarter this year.
"Revenue was up 47% from second quarter of last year and down only 4% from last quarter," noted CFO George O'Leary in a statement.
"We also wiped out $632,000 of current debt this quarter without any cash outflow through PPP Loan forgiveness, further improving our balance sheet. Our net equity maintained at $6.3 million for 2Q 2021, leaving us in a strong position for our planned uplisting during the second half of the year."
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