WELL Health (TSX: WELL) posts revenue jump of 573% in Q4: Buy alert?

Published on March 31, 2022 12:41 PM EDT

WELL Health Technologies Corp (TSX: WELL) financial performance in Q4 FY 2021

The Vancouver, British Columbia-headquartered firm reported a revenue of C$ 115.7 million in the fourth quarter of fiscal 2021, representing a YoY rise of 573 per cent.

Its adjusted gross margin improved to 54.9 per cent in the latest quarter, up from 46.5 per cent a year ago.

The C$-1 billion market cap firm recorded an adjusted EBITDA of C$ 25.67 million in Q4 FY2021, as compared to 0.76 million a year ago.

WELL Health significantly improved its net profit to C$ 0.707 million in the latest quarter against a net loss of C$ 10.4 million in Q3 2021 and a gain of C$ 5.77 million earned in Q4 2020.

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WELL Health’s stock performance

WELL stock galloped by nearly 10 per cent and was trading at C$ 4.92 apiece at 9:43 AM EST on Thursday following the release of its earnings report.

Bottomline

WELL Health Technologies increased its total omnichannel visits by 121 per cent YoY to 0.7 million in Q4 2021.

The company said that it expects its annual revenue to surpass 0.5 billion in 2022, underpinned by its organic growth strategies paired with tuck-in acquisitions.

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Please note, the above content constitutes a very preliminary observation based on the industry, and is of limited scope without any in-depth fundamental valuation or technical analysis. Any interest in stocks or sectors should be thoroughly evaluated taking into consideration the associated risks.

Kajal Jain

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