Tue, Nov 19, 1:02 PM (242 days ago)
Regenerative Medical Technology Group Inc. (RMTG), formerly Meso Numismatics, reported a significant improvement in its quarterly financial performance for Q3 2024 compared to Q3 2023. Revenue increased by 52.5% to $986,308, driven by enhanced marketing efforts and the operational launch of its Cancun facility. Gross profit rose 65.9% to $747,061, with a gross margin of approximately 75.7%. However, operating expenses also increased by 38.5% to $727,412, primarily due to higher professional fees and general administrative costs. The net loss narrowed dramatically to $887,146 from $5,857,159, indicating a positive trend in operational efficiency. Year-to-date, revenues reached $2,596,671, up 44.7%, with a corresponding reduction in net loss to $4,924,786 from $9,557,629 in 2023. Cash flow from operations was positive at $471,306, contrasting with a net outflow in the prior year. However, the company faces ongoing liquidity challenges, with a working capital deficit of $26,577,484 and substantial outstanding debts, raising concerns about its ability to continue as a going concern without additional financing. The upcoming opening of a new clinic in Dubai is expected to further enhance revenue streams.