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 third quarter results for this year and comparatively from last year, for the nine months ended Sept. 30, 2018.
| SUNRISE, Fla.,/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 third quarter results for this year and comparatively from last year, for the nine months ended Sept. 30, 2018.
As has been the trend for the past several years, revenue continues to rise -- almost $1M or 25% for the period compared to the same period last year -- from $4.04M in 3Q 2017 to $5.03M in 3Q 2018. Gross profit margins also increased, $723K or 26.8%, from $2.69M to $3.42M for the same time period. Operating expenses decreased $850K or 42%, from $2.02M to $1.17M. Net Loss from operations decreased $838K or 79.3%, from $1M to $218K during the same nine months ended this year versus last. “Our financials directly reflect the success of our ongoing efforts to simultaneously expand and streamline operations to continue to serve the increasing market demand for stem cell therapy and regenerative health services,” said Mike Tomas, President and CEO of U.S. Stem Cell, Inc. “Driving innovative therapies while helping to define and set industry standards requires a delicate balance. We are working hard to achieve that balance, and I believe our third quarter financials demonstrate that effort.” For two consecutive years, U.S. Stem Cell, Inc., 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. The Company has also 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.
SOURCE U.S. Stem Cell, Inc. | ||
Company Codes: OTC-BB:USRM, OTC-PINK:USRM |
View original content to download multimedia:
