Immudyne Announces Strong Quarterly Revenue Growth and Provides Update on Shapiro MD
NEW YORK, May 15, 2018 (GLOBE NEWSWIRE) -- Immudyne, Inc. (OTCQB:IMMD) (“Immudyne” or the “Company”), a leader in the development and online direct-response marketing of healthcare and technology products, today announces net revenue of $1.61 million for the first quarter of 2018, a 50% increase compared to net revenue of $1.07 million for the fourth quarter of 2017. The Company reported a net loss of approximately $286,000, or $0.01 per share. However, the Company generated approximately $66,000 of cash from operating activities.
“Our revenue growth in the first quarter reflects the continued growth and execution of our online direct response marketing business,” said Justin Schreiber, President & Chief Executive Officer of Immudyne. “It’s a combination of great products like Shapiro MD and an exceptional team of people that continue to execute on our business plan day in and day out.”
Shapiro MD, our hair-care line designed to help men and women achieve thicker, fuller and healthier hair, was primarily responsible for Immudyne’s revenue growth in the first quarter. Highlights for the first quarter include:
- 35,000+ customers globally have purchased Shapiro MD products
- High customer satisfaction; less than 3% of Shapiro MD customers requested a refund or return
- Launched new Shapiro MD branded topical product containing FDA approved 5% Minoxidil
- Preparing for launch of new subscription management platform to improve customer lifetime value and retention
“The continued success of Shapiro MD is extremely validating for Immudyne’s business model,” stated Stefan Galluppi, Chief Technology Officer of Immudyne. “I believe this will pave the way for other value creating opportunities.”
lmmudyne, Inc. (the "Company") is an online direct response marketing company that builds innovative and proprietary health and wellness brands that seeks to transform and enrich the lives of consumers around the world. Immudyne’s scalable and global advertising technology infrastructure leverages the world’s largest social media, search and e-commerce platforms (Facebook, Google & Amazon) to rapidly grow our continually expanding product portfolio. To learn more about our corporate strategy, brands or for investor relations please visit www.immudyne.com or email us at [email protected].
Any statements contained in this press release that do not describe historical facts may constitute forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. Such forward-looking statements include, among other thing, statements regarding the offering, the expected gross proceeds, the expected use of proceeds and the expected closing of the offering. Any forward-looking statements contained herein are based on current expectations, but are subject to a number of risks and uncertainties. The factors that could cause actual future results to differ materially from current expectations include, but are not limited to, risks and uncertainties relating to the Company's ability to develop, market and sell its products; the expected benefits and efficacy of the Company's products; the availability of substantial additional funding for the Company to continue its operations and to conduct research and development, clinical studies and future product commercialization; and, the Company's business, research, product development, regulatory approval, marketing and distribution plans and strategies. These and other factors are identified and described in more detail in our filings with the SEC, including, but not limited to, our current reports on Form 8-K.
Released May 15, 2018