Yesterday, worldwide digital health tech platform delivering firm UpHealth Inc (NYSE:UPH) was in the news after it announced its financial results for the fourth fiscal quarter and also for the full year that ended on December 31, 2021.
The reaction from the market was largely muted as the stock continued to trade in a range. However, it may be a good move from investors to consider taking a look at some of the highlights from the financial results. The company managed to bring in proforma revenues to the tune of $148.9 million for the full fiscal year and that represented a rise of as much as 28% year on year.
On the other hand, the gross margin for the fiscal year ended up being 35%. In the fiscal year, UpHealth also managed to bring in adjusted EBITDA of negative $4 million.
The net loss per share for the year as per generally accepted accounting principles stood at $3.19 a share for the year. However, on the other hand, the net loss on a non-GAAP basis stood at $0.03 a share. The company reported a net cash balance at the end of the fiscal year of $58.2 million and also noted that it was not going to need any additional cash.
Key Quote
“In the third and fourth quarters of 2021, the leadership team intensified its focus on selected strategic priorities and on the organization-wide integration. We are confident that these initiatives will result in economies of scale, product offering innovations and cross-selling opportunities,” said Dr. Ramesh Balakrishnan, Chief Executive Officer. “The groundwork we laid last year will come to fruition in 2022.”
Technical Data
UPH stock is trading above the 20-Day and 50-Day Moving averages of $1.36 and $1.94 respectively. Moreover, the stock is trading above the 200-Day moving average of $3.12.
