Novo Integrated Sciences Announces Preliminary Revenue Range for Fiscal 2022 Third Quarter
11 Julho 2022 - 5:05PM
Business Wire
Management expects over 365% Revenue Growth
Sequentially for the Fiscal 2022 Third Quarter
Novo Integrated Sciences, Inc. (NASDAQ: NVOS) (the “Company” or
“Novo”), pioneering a holistic approach to patient-first health and
wellness through a multidisciplinary healthcare ecosystem of
multiple patient and consumer touchpoints for services and product
innovation, today announced that its preliminary unaudited revenue
for the third quarter of fiscal 2022 is expected to be in the range
of $13.4 million to $13.9 million, an increase of approximately
367% to 384%, as compared to the second quarter of fiscal year
2022, and an increase of approximately 463% to 484%, as compared to
the third quarter of fiscal 2021. The Company’s strong revenue
performance in the third quarter was driven primarily by an
increase in both proprietary and outsourced product sales.
Robert Mattacchione, Novo’s CEO and Board Chairman, stated, “We
are extremely pleased with the revenue increase for the quarter.
The addition of product development and sales to our corporate
bandwidth is proving to be a successful strategy toward
accelerating the Company’s growth. We believe that subsequent
quarters will illustrate continued market penetration for our
expanding line of product solutions. The conversion of patients to
consumers and consumers to patients, combined with continuing
commercialization of our proprietary technology and product
solutions, is expected to have an ongoing positive impact on the
growth of the Company’s holistic healthcare solutions
globally.”
The preliminary financial information in this press release has
been prepared internally by management and has not been reviewed by
our independent registered public accounting firm. There can be no
assurance that actual results will not differ from the preliminary
financial information presented herein and such changes could be
material. This preliminary financial data should not be viewed as a
substitute for the unaudited condensed consolidated financial
statements prepared in accordance with accounting principles
generally accepted in the United States of America (U.S. GAAP). The
Company expects to issue unaudited condensed consolidated financial
statements for the third quarter of fiscal year 2022 in July
2022.
About Novo Integrated Sciences,
Inc.
Novo Integrated Sciences, Inc. is pioneering a holistic approach
to patient-first health and wellness through a multidisciplinary
healthcare ecosystem of multiple patient and consumer touchpoints
for services and product innovation. Novo offers an essential and
differentiated solution to deliver, or intend to deliver, these
services and products through the integration of medical
technology, diagnostic and therapeutic solutions, and
rehabilitative science.
We believe that “decentralizing” healthcare, through the
integration of medical technology and interconnectivity, is an
essential solution to the rapidly evolving fundamental
transformation of how non-catastrophic healthcare is delivered both
now and in the future. Specific to non-critical care, ongoing
advancements in both medical technology and inter-connectivity are
allowing for a shift of the patient/practitioner relationship to
the patient’s home and away from on-site visits to primary medical
centers with mass-services. This acceleration of “ease-of-access”
in the patient/practitioner interaction for non-critical care
diagnosis and subsequent treatment minimizes the degradation of
non-critical health conditions to critical conditions as well as
allowing for more cost-effective healthcare distribution.
The Company’s decentralized healthcare business model is
centered on three primary pillars to best support the
transformation of non-catastrophic healthcare delivery to patients
and consumers:
- First Pillar: Service Networks. Deliver multidisciplinary
primary care services through (i) an affiliate network of clinic
facilities, (ii) small and micro footprint sized clinic facilities
primarily located within the footprint of box-store commercial
enterprises, (iii) clinic facilities operated through a franchise
relationship with the Company, and (iv) corporate operated clinic
facilities.
- Second Pillar: Technology. Develop, deploy, and integrate
sophisticated interconnected technology, interfacing the patient to
the healthcare practitioner thus expanding the reach and
availability of the Company’s services, beyond the traditional
clinic location, to geographic areas not readily providing
advanced, peripheral based healthcare services, including the
patient’s home.
- Third Pillar: Products. Develop and distribute effective,
personalized health and wellness product solutions allowing for the
customization of patient preventative care remedies and ultimately
a healthier population. The Company’s science-first approach to
product innovation further emphasizes our mandate to create and
provide over-the-counter preventative and maintenance care
solutions.
Innovation through science combined with the integration of
sophisticated, secure technology assures Novo Integrated Sciences
of continued cutting-edge advancement in patient first
platforms.
For more information concerning Novo Integrated Sciences, please
visit www.novointegrated.com. For more information on Novo
Healthnet Limited, Novo’s wholly owned subsidiary, please visit
www.novohealthnet.com.
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Forward-Looking
Statements
This press release contains forward-looking statements within
the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as
amended. All statements other than statements of historical facts
included in this press release are forward-looking statements. In
some cases, forward-looking statements can be identified by words
such as "believe," “intend,” "expect," "anticipate," "plan,"
"potential," "continue" or similar expressions. Such
forward-looking statements include risks and uncertainties, and
there are important factors that could cause actual results to
differ materially from those expressed or implied by such
forward-looking statements. These factors, risks, and uncertainties
are discussed in Novo’s filings with the Securities and Exchange
Commission. Investors should not place any undue reliance on
forward-looking statements since they involve known and unknown,
uncertainties and other factors which are, in some cases, beyond
Novo’s control which could, and likely will, materially affect
actual results, levels of activity, performance or achievements.
Any forward-looking statement reflects Novo’s current views with
respect to future events and is subject to these and other risks,
uncertainties and assumptions relating to operations, results of
operations, growth strategy and liquidity. Novo assumes no
obligation to publicly update or revise these forward-looking
statements for any reason, or to update the reasons actual results
could differ materially from those anticipated in these
forward-looking statements, even if new information becomes
available in the future. The contents of any website referenced in
this press release are not incorporated by reference herein.
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Chris David, COO & President Novo Integrated Sciences, Inc.
chris.david@novointegrated.com (888) 512-1195
Novo Integrated Sciences (NASDAQ:NVOS)
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