Cloud DX (TSX-V:CDX, OTCQB:CDXFF), a provider of virtual care and remote patient monitoring solutions, announced that its subscription revenue reached just under $370,000 last year, a 23% increase from 2020.
Overall revenue decreased 33% to $782,297, due to the timing of product orders, which are now expected to be filled this year, as well as pauses in contracts due to coronavirus (COVID-19) variant waves in the latter half of the year, the company said.
READ: Cloud DX strengthens position in the US with signing of Illinois clinic
The company executed 12 contracts in 2021 and in December inked a deal with Medtronic Canada, a subsidiary of Medtronic PLC (NYSE:MDT), which will integrate Cloud DX (TSX-V:CDX, OTCQB:CDXFF) Connected Health into its main lines of business in the country. Medtronic serves as many one million patients in Canada annually, the company said.
Looking ahead, Cloud DX has announced 12 new commercial contracts so far in 2022, and extended 2 provincial/territorial government contracts, already matching its 2021 total.
Cloud DX's connected health remote patient monitoring platform is used by healthcare enterprises and care teams to virtually manage chronic disease, enable aging in place and deliver hospital-quality post-surgical care in the home.
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