Net Medical (OTCMKTS:NMXS) announced on March 31st, 2023, about crossing a gross revenue of $5.2 million in 2022, as compared to $1.768 million in 2021. The net income was $885,000 in 2022 and $10,000 in 2021.
Net Medical 2022 Gross Revenue $5.2 Million vs. $1.768 Million; Net Income $885,000 vs. $10,000 in 2021
According to Net Medical CEO Dick Govatski, 2022 was a strong year for the organization, which was padded by robust COVID testing fees. An increase in total assets was recorded, to almost $3 million from $1.4 million in 2021. The cash reserves at year-end were over $1 million. Even though COVID testing fees have gone down, the company is going strong financially.
Govatski added that they are focusing on clinical trials in aid of companies seeking FDA approvals for medical devices and other applications. They are collaborating with companies like Accorto that handle the regulatory aspect of streamlining the process of filing with the FDA to demonstrate product safety and efficacy.
Net Medical is expanding its viral disease testing capabilities with a fleet of mobile health vans in New Mexico continuing to provide COVID, FLU, and RSV PCR respiratory testing. Their new operating unit Immunity Science has been launched too, which features the Immune Defense Kit, aimed to be an entry point for the public to add supplementation, vitamins, testing and hygiene to their daily lifestyle.