If the pandemic has revealed anything about consumers it may be that comfort and convenience are important in nearly every segment of the market. The intersection of convenience and medicine has taken center stage via telehealth solutions. Allowing patients to interact with doctors directly, from the privacy and comfort of home, is a market trend we can be sure will grow. Even the Metaverse and virtual reality are becoming solutions.
Firms like Epazz (OTCMKTS:EPAZ) are finding ways to incorporate visits to the doctor’s office with the Metaverse. Through their custom business solutions software, they enable physicians to meet directly with patients via virtual reality. As the Metaverse grows and the demand for telehealth solutions increases, these five stocks would be right at home on any watchlist.
Epazz Inc. (OTCMKTS:EPAZ) has upgraded its ZenaPay Bitcoin wallet with credit and debit cards launching in 2022. It is designed to address the hemp market, enabling consumers to use cryptocurrency to buy hemp digitally without physical currency. It takes Bitcoin and converts it into fiat currency.
Talkspace Inc (NASDAQ:TALK) stock has been witnessing increased selling pressure over the past week with a fall of 16%. Moreover, the stock made a new low recently.
However, the stock is trading higher in the pre-open session after the company posted Q4 earnings late Tuesday. Revenue during the latest quarter jumped 14% to $29 million, thanks to an increase in covered lives from health plan clients and new enterprise clients. Net loss widened to ($21) million, compared to a net loss of ($11) million in the prior-year period
UpHealth Inc (NYSE:UPH) is currently best known for running its digital dispensaries under the brand HelloLyf CX and earlier on in the month the company made a major announcement that investors ought to know about. Back on February 15 the company announced that the number of consultations at its digital dispensaries in India had gone past the two million mark.
Considering the sheer size of the Indian market, that was a major new development for the company. However, that was not all. UpHealth also noted that the number of consultations was going to rise considerably in the coming months and in the next 12 months it could rise by as much as threefold. In light of this development it could be the right time for investors to start tracking the stock.
The other stock that could be worth tracking at this point is that of the telehealth company American Well Corp (NYSE:AMWL). The company had its IPO back in September 2020 and soon climbed to as much as $41 a share in a few weeks from its listing price of $25.51.
However, things changed fairly quickly and now the stock trades at levels below $5 a share. The reasons behind the current state of the stock is easy to see. It has failed to generate much growth and in the past 12 months, it has suffered losses to the tune of $179 million. Additionally, the company incurred costs of a staggering $121 million for taking care of day to day expenses alone.
Hims & Hers Health Inc (NYSE:HIMS) stock is all set to gap-up on Wednesday as investors cheer the company’s Q4 results. The stock is up a whopping 18% in the pre-market session.
Revenue during quarter soared 104% to $84.7 million for the Q4 2021 compared to $41.5 million for the Q4 2020. Net loss came in $(31.2) compared to $(5.2) million for the Q4 2020. Gross margin fell to 73% compared to 77% for the fourth quarter 2020. Adjusted EBITDA was $(7.1) million for the fourth quarter 2021 compared to $(3.1) million for the fourth quarter 2020.
“We finished our first year as a public company with our best quarter yet, once again surpassing revenue and Adjusted EBITDA expectations that we set entering the year, while maintaining an efficient capital allocation philosophy. We believe these results showcase that our mission to offer high quality, convenient, and affordable care through a more modern, personalized platform is being adopted today as more patients than ever, across multiple age and demographic groups, are engaging with Hims & Hers in their health and wellness journey via multiple channels,” said Andrew Dudum, CEO and co-founder of Hims & Hers. “
