Bloom Health Partners Inc (CSE:BLMH, OTCQB:BLMHF), the occupational health provider, has told investors that it ended the first quarter of its 2022 financial year with revenues of C$5.8 million and C$5.1 million in cash.
The Vancouver-based firm said it completed the quarter with a loss from operations of C$1 million as it invested in expansion and also as a result of a lower revenue quarter due to cyclical factors, including the Thanksgiving and Christmas holidays.
The company maintained its full-year guidance, announced on February 9, 2022, for revenue of between C$25 million and C$28 million from continued business with new and existing clients and operations. It also expects positive underlying earnings from operations in fiscal 2022.
READ: Bloom Health Partners flags strong revenue growth for fiscal 2022
“Our 1Q fiscal 2022 set the stage for growth," CEO Andrew Morton said in a statement. "We made investments in expansion in Dallas, Atlanta and Alabama as a result of client opportunities and contracts. Our lab business and evolution with clients to Operational Health combined with our 'Bloom Shield' health-tech software platform continues to show good momentum. We're executing on our vision of keeping businesses and organizations running with Operational Health and Health-Tech."
Bloom Health is a global platform for healthcare security, diagnostic testing and occupational health tech.
Bloom offers a system for businesses and organizations that helps engage employees and creates strategies to manage health and safety. Its stable, scalable system is an integrated health-tech platform that securely manages data while delivering comprehensive workplace health and safety outcomes.
Contact the author at stephen.gunnion@proactiveinvestors.com