IMAC Holdings, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023
November 21, 2023 at 04:01 pm EST
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IMAC Holdings, Inc. reported earnings results for the third quarter and nine months ended September 30, 2023. For the third quarter, the company reported revenue was USD 1.57 million compared to USD 3.79 million a year ago. Net loss was USD 2.86 million compared to USD 6.33 million a year ago. Basic loss per share from continuing operations was USD 2.63 compared to USD 6.93 a year ago.
For the nine months, revenue was USD 5 million compared to USD 12.71 million a year ago. Net loss was USD 7.96 million compared to USD 11.34 million a year ago. Basic loss per share from continuing operations was USD 7.28 compared to USD 12.66 a year ago.
IMAC Holdings, Inc. owns and manages health and wellness centers that delivers sports medicine, orthopedic care, and restorative joint and tissue therapies for movement restricting pain and neurodegenerative diseases. The Company provides movement, orthopedic and neurological therapies through its chain of Innovative Medical Advancements and Care (IMAC) Regeneration Centers. The Company, through its outpatient medical clinics, provide conservative, minimally invasive medical treatments to help patients with back pain, knee pain, joint pain, ligament and tendon damage, and other related soft tissue conditions. It operates through two business segments: outpatient medical centers and clinical research division. The Company's research division is conducting a Phase I clinical trial evaluating a mesenchymal stem cell therapy candidate for bradykinesia due to Parkinsonâs disease. The Company operates approximately 10 outpatient medical clinics in five states in the United States.