14:29:23 EDT Thu 23 May 2024
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Victory Square Technologies Inc
Symbol VST
Shares Issued 97,930,700
Close 2023-05-24 C$ 0.165
Market Cap C$ 16,158,566
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Hydreight's March adjusted revenue at $1.44-million

2023-05-24 15:07 ET - News Release

See News Release (C-NURS) Hydreight Technologies Inc

Mr. Shane Madden of Hydreight reports


Hydreight Technologies Inc. achieved $1.4-million in monthly top-line non-GAAP (generally accepted accounting principles) adjusted revenue in March, 2023. This represents a 201% increase from March the year prior. The Company's non-GAAP Adjusted Gross Margin** also increased by 225% in the same period.

"We are focused on rapidly scaling our user base, and are achieving revenue growth throughout all channels including subscriber signups, pharmacy orders, and service delivery," said Shane Madden, CEO of Hydreight. "This traction has been largely organic, which demonstrates that we have found a legitimate problem in the market and have created the right solution to solve it."

Hydreight's monthly revenue has been steadily increasing over the past year as the presence of the platform grows throughout the U.S. The Company believes the following Non-GAAP** financial measures provide meaningful insight to its shareholders in understanding the Company's performance, and may assist in the evaluation of the Company's business relative to that of its peers:

"We have placed a particular emphasis on ensuring that service providers on the platform are successfully growing their businesses, and we have a variety of initiatives in the works in this area," added Madden. "The old adage is correct: take care of your customers, and they will take care of you."

Hydreight's on-demand home healthcare and wellness platform makes it possible for anyone to book health and wellness services from registered nurses and other licensed providers in the comfort of their own homes.

Providers on the platform are empowered to be their own bosses, make their own hours, and deliver services outside of traditional medical settings. They work independently with the oversight of a Hydreight medical director and have access to a digital pharmacy, as well as a full suite of HIPAA-compliant tools to manage their businesses.

Hydreight will host a live Q&A webinar for investors with CEO, Shane Madden and Victory Square Technologies (CSE:VST) (OTC:VSQTF) (FWB:6F6) CEO Shafin Tejani, on Friday, May 26 at 10:30 am PST / 1:30 pm EST, during which participants will have the opportunity to ask questions in a group format.

** See Use of Non-GAAP Financial Measures

About Hydreight Technologies Inc.

Hydreight Technologies Inc. ( TSXV: NURS ) is a home healthcare and wellness platform, and medical network, that bridges the gap between provider compliance and patient convenience, empowering nurses, med spa technicians, and other licensed healthcare professionals to deliver services independently, on their own terms, or add mobile services to existing location-based operations. The network offers medical director oversight, liability insurance, HIPAA-compliant documentation, competitively priced prescriptions via a 503B licensed pharmacy, and more. The platform includes a built-in, easy-to-use suite of fully-integrated tools for accounting, documentation, sales, inventory, booking, managing patient data, and more, making it possible to deliver fully-compliant mobile medicine across 50 states. Learn more at Hydreight.com .

Patients can download Hydreight from the Apple App Store or Google Play Store , and prospective service providers can sign up at: Hydreight.com/start-a-business/ .

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