USRM Posts Profitable Results for Second Quarter 2018
Continues to Post Increases in Revenue for Second Straight Year
SUNRISE, Fla., Aug. 8, 2018 /PRNewswire/ -- U.S. Stem Cell, Inc. (OTC: USRM), a leader in the development of proprietary, physician-based stem cell therapies and novel regenerative medicine solutions, today announced results for its second quarter in 2018 -- the 10th consecutive quarter where revenue has increased.
For the quarter ending June 30, 2018, the Company posted a revenue increase of 31% to $1.82m, up from $1.39m for the second quarter of last year. Revenue also increased for the six months ended June 30, 2018, to $3.53m, up 39% from $2.54m for the same period last year.
Profit margin for the second quarter also increased, to 69% from 67% for the same period last year, and profit margin for the first six months of this year increased to 70% from 68% in the first six months of 2017. Gross profit was also up for both periods, with a 34% increase to $1.25m from $934k for the second quarter, and a 43% increase to $2.46m from $1.73m for the six-month period.
For two consecutive years, USRM has continued to sustain substantial revenue growth, which may be attributable to an increased awareness of stem cell therapy, as Americans seek alternatives to pain management and opioids.
USRM has been instrumental in providing more than ten thousand stem cell procedures in the past 19 years for a variety of indications, including orthopedic, autoimmune, degenerative and neurological diseases. USRM also trains and certifies physicians in stem cell therapy -- to date, more than 700+ physicians worldwide -- and has engaged with more than 288 clinics.
U.S. Stem Cell, Inc. is a leader in the regenerative medicine / cellular therapy industry specializing in physician training and certification and stem cell products including its lead product Adipocell™, as well as veterinary stem cell training, stem cell banking, and the creation and the management of stem cell clinics. To management's knowledge, USRM has completed more clinical treatments than any other stem cell company in the world.
Forward-Looking Statements: Except for historical matters contained herein, statements made in this press release are forward-looking statements. Without limiting the generality of the foregoing, words such as "may", "will", "to", "plan", "expect", "believe", "anticipate", "intend", "could", "would", "estimate", or "continue", or the negative other variations thereof or comparable terminology are intended to identify forward-looking statements. Forward-looking statements involve known and unknown risks, uncertainties and other factors, which may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements and represent our management's beliefs and assumptions only as of the date hereof. Except as required by law, we assume no obligation to update these forward-looking statements, even if new information becomes available in the future. The Company's business and the risks and uncertainties of the business are described in its filings with the Securities and Exchange Commission which can be found at sec.gov.
Media Contact: U.S. Stem Cell, Inc.
13794 NW 4th Street, Suite 212
Sunrise, Fl 33325
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SOURCE U.S. Stem Cell, Inc.
Company Codes: OTC-PINK:USRM, OTC-QB:USRM, OtherOTC:USRM