EARNINGS CALL TRANSCRIPT FROM BASSAM DAMAJ (CEO)(source seeking alpha)
Our business and financial performance keep improving as we continued to control our top line revenue, increased our net margin and decrease our cash burn from operations and our net loss as you have seen from our second quarter filing this afternoon with the SEC. Specifically, we increased our revenue to approximately $6.8 million which is an increase of $1.2 million or 27% compared to prior quarter.
Year-to-date revenue approximately $12.2 million in 2019, compared to $11.9 million in 2018. We increased focused on our highly profitable Canadian market representing 26% for the three months ended June 30, 2019, compared with only 13% for the previous quarter.
Quarterly product subscription and outbound concierge net revenue of $1.1 million compared to $0.7 million in the prior year, which makes it a 57.1% increase and this resulted in the following company financial improvement.
COMPANY PROFILE
Innovus Pharmaceuticals, Inc. engages in the commercialization, licensing, and development of non-prescription medicine, and consumer care products for health and vitality, and respiratory diseases. The firm also provides packaged healthcare solutions through over-the-counter, medicines and consumer and health products, which it market directly or through commercial partners to primary care physicians, urologists, gynecologists and therapists, and directly to consumers through on-line channels, retailers and wholesalers. Its business model leverages the ability to acquire and in-license commercial products that are supported by scientific, and or clinical evidence, place them through it existing supply chain, retail and on-line channels. The company was founded on January 15, 1959 and is headquartered in San Diego, CA.
Our business and financial performance keep improving as we continued to control our top line revenue, increased our net margin and decrease our cash burn from operations and our net loss as you have seen from our second quarter filing this afternoon with the SEC. Specifically, we increased our revenue to approximately $6.8 million which is an increase of $1.2 million or 27% compared to prior quarter.
Year-to-date revenue approximately $12.2 million in 2019, compared to $11.9 million in 2018. We increased focused on our highly profitable Canadian market representing 26% for the three months ended June 30, 2019, compared with only 13% for the previous quarter.
Quarterly product subscription and outbound concierge net revenue of $1.1 million compared to $0.7 million in the prior year, which makes it a 57.1% increase and this resulted in the following company financial improvement.
COMPANY PROFILE
Innovus Pharmaceuticals, Inc. engages in the commercialization, licensing, and development of non-prescription medicine, and consumer care products for health and vitality, and respiratory diseases. The firm also provides packaged healthcare solutions through over-the-counter, medicines and consumer and health products, which it market directly or through commercial partners to primary care physicians, urologists, gynecologists and therapists, and directly to consumers through on-line channels, retailers and wholesalers. Its business model leverages the ability to acquire and in-license commercial products that are supported by scientific, and or clinical evidence, place them through it existing supply chain, retail and on-line channels. The company was founded on January 15, 1959 and is headquartered in San Diego, CA.