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| Statement |
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| This was a mid-size transition program, with a substantial claim volume that provides benefit for an established product |
| As Mark said, we had a solid quarter and reached a number of milestones across our business |
| We continued to see healthy growth in our plasma donor compensation businesses as we added a total of 19 new centers in the quarter, of which 16 are fully mature |
| This manufacturer has a very strong biosimilar portfolio and a long-term 10 plus year pipeline |
| We continue to bring new value adds in the plasma collection industry, including new interactive reporting features and portals designed to streamline center and managerial processes, further strengthening our product offering with the goal of improving user engagement and increasing stickiness with special attention to helping our clients maximize the donor experience |
| The patient affordability vertical shows strong growth in the third quarter, reaching some important milestones |
| We expect operating improvements to continue in the fourth quarter with year-over-year revenue growth slightly better than this quarter's revenue growth of 17% and operating expenses equivalent to our second quarter 2023 operating expenses of $6.3 million, which reflects seasonal costs relative to the third quarter |
| For the third quarter, patient affordability revenue surpassed the $1 million mark increasing 142% versus the same period last year |
| This represents strong year-over-year growth in this program acquisition, claim volume and top line revenue |
| We delivered solid top and bottom-line growth this quarter, with revenue up 17% from last year's third quarter to $12.4 million and net profit improving by 29%,with all business segments contributing to our growth |
| These are just a few examples, where our product offerings and subject matter expertise are leading to major wins and strong growth in this vertical |
| Overall, we are seeing consistent increases in our claims volume and expect to double our average by end of the year |
| While we were excited about this number, we are more excited about the current pipeline we have built for the remainder of this year and into next |
| I'm Mark Newcomer, Chief Executive Officer, and I'm pleased to share our third quarter financial results with you |
| In our plasma business, our average revenue per plasma center per month grew to $8,102 versus $7,512, a year-over-year increase of 7.8% |
| Those four programs launching in October as well, and will be contributing to our increasing revenue in this vertical |
| I'm especially excited to announce that we completed contract negotiations to launch a program for the nation's second largest pharmaceutical company |
| And you saw that our average revenuepercentage per month went up |
| The average monthly revenue per center increased 7.8% compared to Q3 of last year and 6.7% from Q2 2023 to approximately $8,100 |
| As we mentioned in our press release, this quarter saw us earn more than $1 million in top-line revenue in this segment |
| Regarding the health of our company, we exited the quarter with $9.9 million in unrestricted cash and zero debt, a $2.2 million increase over the second quarter of 2023 and a $228,000 increase from the end of 2022 |
| Total revenues of $12.4 million increased $1.8 million or 17% |
| Our strategy to diversify our business into other health care payment verticals is starting to come to fruition |
| And have a wonderful day |
| So it just really should in the a strategy, that we should maintain a market share about 40% this year, next year and going forwardas long as, unless we win a big contract, well there is some out there |
| SG&A for the quarter increased 7% to $4.7 million, with total operating expenses increasing 12% to $5.7 million |
| This manufacturer has also awarded us two additional programs, that will launch in Q4 pending FDA approval |
| I mean, we still maintain our market share |
| We are on track to meet our revenue and adjusted EBITDA guidance, we provided in March, principally revenue to be in the range of $44 million to $46 million and adjusted EBITDA to be in the range of $6 million to $7.5 million |
| Good afternoon, everyone |
| Statement |
|---|
| Gross profit margin for the quarter was 51.1% versus 54.3% during the same period last year, due mainly to inflationary pressures and the lack of pharma prepaid revenue this year, which was a 2.4% drag |
| What you have seen is the pullback in the number of new openings that are out there |
| What we seen is a lot of our pretty much across the board, all the plasma guys have stopped opening new centers because the cost of financing new centers has gone significantly up for them |
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