MedAdvisor (ASX:MDR) has announced its quarterly report for 2Q FY23, highlighting its operating revenue was up 89.9% to $44.1M due to the expansion of the COVID-19 awareness program combined with increased pharmacy participation in the US digital platform, inMotion.
Medadvisor reported its gross margin was up 164.3% to $26.4M, with an increase of 16.9ppts.
It also highlighted a strong capital position, with $32.7M cash on December 31, 2022 which was an increase of $20.8M cash for the quarter.
Medadvisor's CEO and Managing Director Rick Ratliff says: In the US, we increased our pharmacy network to over 30,000 locations, enabling digital access to 60 million people."