HealthLynked Reports Annual Revenue Growth of 50% to $9.2 Million

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Apr 01, 2022, 08:00 ET

Company remains well positioned to drive continued top-line growth in 2022

NAPLES, Fla., April 1, 2022 /PRNewswire/ -- HealthLynked Corp. (OTCQB: HLYK), a global healthcare network focused on care management of its members and a provider of healthcare technologies that connects doctors, patients, and medical data, reported its financial results for the fourth quarter and full year ended December 31, 2021.

2021 Financial Highlights

Revenue of $9.2 million, up 50% compared to $6.1 million in 2020
ACO/MSO revenue grew 125% to $2.7 million compared to $1.2 million for the prior year
Health Services revenue grew 22% to $5.8 million compared to $4.7 million for the prior year
Net equity of $7.2 million, up 434% from $1.2 million in 2020

Fourth Quarter 2021 Financial Highlights

Revenue of $1.7 million increased by 4% compared to $1.5 million in the fourth quarter of 2020
Net loss of ($1.7) million decreased by 11% compared to ($1.9) million in the fourth quarter of 2020

Business Highlights

Released AI-enabled healthcare directory CareLynk to connect HealthLynked users to any doctor across the U.S.
Launched telemedicine platform DocLynk for all HealthLynked patients and providers for primary care and women's healthcare virtual appointments in a simple and easy-to-use interface
QwikCheck V2.0 launched to streamline the patient check-in process while maintaining social distancing
Announced the addition of Dr. Paul Hobaica and Dr. Sam Diasti to its medical advisory board
Appointed Jeffrey Cohen as Vice President of Sales to increase revenue by introducing HealthLynked products and services to health systems, third party payers, hospitals, universities, and group purchasing organizations

Dr. Michael Dent, HealthLynked's Chairman and Chief Executive Officer, commented, "HealthLynked finished 2021 with a record 50% revenue growth, capping off another milestone year for the company. We are proud of our accomplishments throughout 2021 as we completed several key product announcements and continued to make investments in our existing digital product portfolio. These accomplishments, combined with our strong financial performance, provides us confidence in our ability to continue to reduce healthcare costs and improve patient outcomes."

George O'Leary, HealthLynked's Chief Financial Officer, added, "We are very proud of our proven historical revenue growth, including 60% CAGR from 2018-21. We closed the year with a strong net equity of $7.2 million, a significant improvement to our balance sheet from the previous year. We continue to remain excited about the growth we are experiencing, and we look forward to continuing to provide value to our patients and shareholders in 2022 as the company executes on its business strategy."

About HealthLynked Corp.

HealthLynked Corp. provides a solution for both patient members and providers to improve healthcare through the efficient exchange of medical information. The HealthLynked Network is a cloud-based platform that allows members to connect with their healthcare providers and take more control of their healthcare. Members enter their medical information, including medications, allergies, past surgeries, and personal health records, in one convenient online and secure location, free of charge. Participating healthcare providers can connect with their current and future patients through the system. Benefits to in-network providers include the ability to utilize the HealthLynked patent-pending patient access hub "PAH" for patient analytics. Other benefits for preferred providers include HLYK marketing tools to connect with their active and inactive patients to improve patient retention, access more accurate and current patient information, provide more efficient online scheduling, and to fill last-minute cancelations using the Company's "real-time appointment scheduling" all within its mobile application. Preferred providers pay a monthly fee to access these HealthLynked services. For additional information about HealthLynked Corp., please visit www.healthlynked.com and connect with HealthLynked on Twitter, Facebook, Instagram, and LinkedIn.

Forward-Looking Statements

Forward-Looking Statements in this press release, which are not historical facts, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Our actual results, including as a result of any acquisitions, performance, or achievements may differ materially from those expressed or implied by these forward-looking statements. In some cases, you can identify forward-looking statements by the use of words such as "may," "could," "expect," "intend," "plan," "seek," "anticipate," "believe," "estimate," "predict," "potential," "continue," "likely," "will," "would" and variations of these terms and similar expressions, or the negative of these terms or similar expressions. Such forward-looking statements are necessarily based upon estimates and assumptions that, while considered reasonable by our management, and us are inherently uncertain. We caution you not to place undue reliance on any forward-looking statements, which are made as of the date of this press release. We undertake no obligation to update publicly any of these forward-looking statements to reflect actual results, new information or future events, changes in assumptions or changes in other factors affecting forward-looking statements, except to the extent required by applicable laws. If we update one or more forward-looking statements, no inference should be drawn that we will make additional updates with respect to those or other forward-looking statements. Certain risks and uncertainties applicable to our operations and us are described in the "Risk Factors" section of our most recent Annual Report on Form 10-K and in other filings we have made with the U.S. Securities and Exchange Commission. These reports are publicly available at www.sec.gov.

Investor Relations Contacts:

Lisa Fortuna or Josh Carroll
[email protected]

HLYK Contact:

George O'Leary
Chief Financial Officer
[email protected] (800)-928-7144, ext. 103

HealthLynked Corp. Selected Consolidated Financial Data Years Ended December 31, 2021 and 2020

	Year Ended December 31,				Quarter Ended December 31,
		2021		2020		2021		2020
Statement of Operations Data

Total revenue	$	9,197,992	$	6,133,120	$	1,657,959	$	1,594,515
Net loss	$	(10,412,582)	$	(5,755,256)	$	(1,715,348)	$	(1,922,897)

Net loss per share to common stockholders, basic and diluted	$	(0.05)	$	(0.04)	$	(0.01)	$	(0.01)
Weighted average number of common shares, basic and diluted		227,847,181		142,824,870		237,308,625		163,481,276


Balance Sheet Data
	Dec. 31, 2021		Dec. 31, 2020
Total Assets	$	10,694,556	$	8,026,548
Total Liabilities	$	3,490,662	$	6,676,540
Total Shareholders' Equity	$	7,203,894	$	1,350,008