The company is a momentum trade.
IMAC Holdings Reports Increased Revenue for the Fourth Consecutive Quarter
BRENTWOOD, Tenn., May 13, 2022 (GLOBE NEWSWIRE) — IMAC Holdings, Inc.(Nasdaq:IMAC) (IMAC or the Company), a provider of innovative medical advancements and care specializing in regenerative rehabilitation orthopedic treatments without the use of surgery or opioids, today reported its preliminary financial results for the first quarter endedMarch 31, 2022.
Financial and Corporate Highlights from Q1 2022:
- Total Revenue was $3.9 million, compared with $3.0 million in Q1 2021, an increase of 28%
- Patient visits were up 3.7% to 39,809 in IMAC clinics
- Completed repayment of three loans of over $4.34 million, which represented more than 95% of the companys debt
- Successfully completed its pilot program for The Back Space retail chiropractic concept at select Walmart stores, with a commitment to triple its store count with at least 20 additional locations in Walmart over the next 12 months
- Launched the The Back Company Franchise to expand our chiropractic service locations
- Engaged Dr. Ben Lerner as Chief Operating Officer, bringing decades of valuable healthcare growth experience to the executive team.
- Initiated the third and final cohort of its Phase 1 clinical trial for the treatment of bradykinesia due to Parkinsons disease.