Innovus Pharmaceuticals Inc. (fka INNV)

[healthywelth]

Nice article Just come in OUT !!!

Innovus Makes Strides Toward Goal of Tripling Revenue in 2017 --

Innovus reported first quarter 2017 revenue of $2.2 million, which is a sharp increase from just $224,000 during the year ago period. On a sequential basis, the company's revenue increased $500,000 -- or 29% -- despite the first quarter traditionally being its weakest. Historically, Innovus Pharmaceuticals quarter per quarter revenues show a very slow first quarter ($224K in 2016), followed by a significant increase in second quarter ($1M or close to 4x increase) and a peak in revenues in its third quarter ($1.9M close to 2x increase) and a slower fourth quarter ($1.7M).

On a linear flat growth basis, the company seems to be tracking to $8.8M in revenue for the year. But if we take into account their historical revenue patterns, the company may be able to reach and exceed its estimates for 2017. During a Q&A session on the earnings conference call, the company indicated that they expect to reach profitability upon hitting a $10 million revenue run rate, and considering past patterns (along with new product introductions and expanded distribution channels for existing products) that figure seems to be reachable this year. Gross margins improved to 79.8% from 46.7% a year ago, while cash used in operations decreased by $500,000 sequentially as the company moves closer to profitability.

"We have not only seen an increase in our net revenue from the most recent fourth quarter 2016 but our operating loss and cash used in operations has improved as we work to achieve our goal of profitability," said Innovus Pharma President & CEO Bassam Damaj. "With the exciting news stemming from the commercial supply agreement we entered into with our new partner for FlutiCare™ in May 2017 and the recent completion of our registered public equity offering in March 2017, we believe we are well on our way to having the necessary resources to assist us in executing our goals of the expected launch of FlutiCare™ in the fourth quarter of 2017, the continued expansion of our product lines, and achieving profitability."
https://finance.yahoo.com/news/innovus-makes-strides-toward-goal-130000178.html