Progressive Care Inc (RXMD)

[stockforce]

Progressive Care Inc. Announces Record Full Year 2023 Results with Revenues of $49.7 Million, an Increase of 22% with Annual Gross Margins of 30%
APRIL 11, 2024

https://www.progressivecareus.com/post/progressive-care-inc-announces-record-full-year-2023-results-with-revenues-of-49-7-million-an-increase-of-22-with-annual-gross-margins-of-30

The Companyreported record annual revenues of approximately $49.7 million, a 22% increase from results reported for the year ended December 31, 2022, driven by strong growth at its PharmcoRx pharmacies and the addition of multiple new 340B contracts in the second half of 2023.

“Progressive Care’s significant growth in 2023 reflects its continuing commitment to ensuring strong patient medical adherence through highly specialized care and its proven ability to support the unique needs of 340B covered entities. I am pleased with our team’s success in greatly strengthening the Company’s financial foundation and driving improved operational performance. We continue to seek opportunities to expand our pharmacy operations with new programs, such as the OTC benefit programs announced last year, and add additional clients within the 340B space,” said Charles M. Fernandez, Chairman and CEO of Progressive Care Inc.