CloudMD Software and Services Inc (fka DOCRF)

[StockpickerCAPC]

Outlook

source
https://www.streetinsider.com/Globe+Newswire/CloudMD+Reports+Record+Revenue+of+%243.4+Million+in+Q3+2020/17662795.html

The Company is focused on revolutionizing the healthcare industry by leveraging technology to digitalize its delivery to provide both better access to care which leads to better health outcomes. CloudMD has a strong balance sheet with approximately $60 million in cash, which will allow it to continue deploying capital on a robust pipeline of accretive, synergistic acquisitions. Subsequent to the quarter, the Company completed five strategic acquisitions which enhances its portfolio of SaaS model digital services and clinic services offering. The Company also announced another four acquisitions, primarily focused on its newly created Enterprise Health Solutions Division, which are expected to close by December 31, 2020.

CloudMD’s organic growth will be largely driven by its network of hybrid clinics, pharmacy partnerships, SaaS solutions and enterprise partnerships. Through its recent acquisitions, there are opportunities for cross-functional synergies and cross selling that will drive further organic growth.

With our Q3 2020 financial performance, combined with organic growth, and completed and announced acquisitions, CloudMD is on track to achieve (i) annualized revenue run rate exceeding $35 million, (ii) gross margin exceeding 50%, and (iii) improved Adjusted EBITDA performance.

CloudMD will continue to focus on delivering meaningful shareholder value by executing on its growth strategy through accretive acquisitions, strategic capital allocation and continuing to achieve organic growth across all divisions.