World-Class Medication Management Platform, MedAdvisor, Announces Record H1 Revenue of $1.61m.

MedAdvisor Limited (ASX: MDR) has recently released its Appendix 4D with also providing its Interim Financial Report for the 6-month period which ended on the 31^st of December 2016.

KEY TAKEAWAYS:

• Revenue increased by 127% to $1.55million, representing half year revenues already higher than FY16 ($1.43m). With a total revenue $1.61 million.
• Revenue has increased because of growing patient numbers, resulting in increased PEP and SMS sales:
  • User based revenue, (PEP and SMS) is up 668%, accounting for 32% of total revenue.
  • Subscription (SaaS) revenue, accounting for the remaining total revenue and driven by Pharmacy subscriptions.
• MedAdvisor now boats over 630,000 users, up 470% on H1 2016.
• Strengthen balance sheet following a successful $8 million capital raise with ample capital to take the domestic business through to profitability, expected by the end of CY 2018.
• Acquisitions of Healthnotes and OzDocsOnline enhancing technology and expanding revenue opportunities with additional customer offerings.

MedAdvisor is a word class medication management platform focused on addressing the gap and burden of medication adherence.

Robert Read, CEO of MedAdvisor commented:

“This has been a record half year for the Company, with revenues already exceeding revenues for the full 2016 financial year. I have been particularly pleased with the performance of our patient engagement programs and the demand we’ve experienced from some of Australia’s leading pharmaceutical manufacturers.

As we continue to grow our user base and enhance our product offering, we will drive further growth across our existing revenue streams. Furthermore, we are working towards establishing additional revenue streams as we expand our product offering further to leverage our user base and market position.”

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