Uphealth, Inc. (UPH) stock plummeted 30.55% in the current-market trading session at the price of $1.37 after reporting its earnings report for Q4 and the year 2021.
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UPH is a digital health corporation that provides digital technology and services to improve the healthcare system. The company formulates care centers for patients to enhance access and acquire better outcomes at a reduced cost.
UPH Q4 2021 Financial Highlights
On 30th March 2022, UPH published its financial results for the quarter and year ended 31st December 2021. However, the company has not yet finalized its earnings report. Therefore, the reported results are in the form of a range. UPH expects revenue to be from US$33.9M to US$41.7M for Q4 of 2021. Gross profit is expected to range from 36 percent to 38 percent.
UPH Year 2021 Summary
The company expects total revenues of US$148.9M to US$156.7M for the year 2021. It represents a growth of 28 percent to 35 percent from the comparable quarter of 2020. The gross margin has expected to be from 39 percent to 40 percent.
Chief executive officer of UPH, Dr. Ramesh Balakrishnan, commented that the company is well-positioned to emerge as a leading healthcare forum with an extensive suite of infrastructure, technologies, and services. They are concentrating on the highly-grown and innovative sectors of digital healthcare.
Ramesh added that they have made considerable improvements and are executing the integration and strategic growth across their business. To realize synergies in business lines, UPH is experiencing a broader transformation. The recent business transformation has expected to provide higher operational synergies for better efficiency.
UPH 2022 Outlook
For the year 2022, UpHealth expects its revenue to be from US$205M to US$233M. The company anticipates gross margins to range from 42 percent to 43 percent. Adjusted EBITDA has expected to be from US$14M to US$19M for the year 2022.