On Monday, Net Medical (OTCMKTS:NMXS) was in the news after it announced its financial results for the third fiscal quarter of 2022. The company announced that in the third quarter it had managed to generate revenues to the tune of as much as $1,008,000 and that proved to be a significant improvement on the revenues of $341,173 that were generated in the prior year period.
Trading Data
On Monday, NMXS stock decreased 1.86% to $0.2895 with 3.91K shares, compared to volume of 3.42K shares. The stock moved within a range of $0.2400 – 0.2950 after opening trade at $0.2950.
Net Medical Reports Progress on Multiple Fronts. Nine Month Revenue $4.4 million vs $946,000. Q3 Net Income $1.3 million vs Loss of ($290,000).
On the other hand, the company also managed to eke out a net income of $211,000 and swung back to profits from the net loss of $122,028 in the prior year period.
In the first nine months of 2022, the revenues generated by Net Medical came in at $4,478,000 and that reflected a 373% year on year rise from the $9460,00 in revenues posted in the prior year period. In addition to that, the net income in the first nine months of the year was $1,357,000 and that marked a major turnaround from the losses of $290,000 in the prior year period.
At the end of the third fiscal quarter, the company reported cash and cash equivalents to the tune of $1.3 million. The total value of its current assets stood at $2.9 million.
Technical Data
NMXS stock is trading below the 20-Day and 50-Day Moving averages of $0.31 and $0.41 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.32.
