SINGAPORE - Mobile-health Network Solutions (Nasdaq: MNDR), an Asia-Pacific telehealth provider, has addressed recent share price volatility, reassuring stakeholders of its commitment to long-term growth and reporting a projected doubling of revenue for the first half of 2024 compared to the previous year.
The company, also known as MaNaDr, has announced its expansion into Indonesia, marking a significant step in its strategic vision to solidify its presence in Southeast Asia. This move comes on the heels of the company being ranked #41 by the Financial Times as one of the fastest-growing companies in the Asia-Pacific region, reflecting the strong trajectory of its business.
MaNaDr has also ventured into the retail pharmacy space with the launch of ManaPharma Pharmacy, aiming to strengthen its position in the healthcare sector and open avenues for future growth. The management has emphasized its focus on executing established strategies and priorities, as outlined in their 424B(4) prospectus.
In response to the fluctuations in share price, the company's co-founders Dr. Siaw Tung Yeng and Dr. Rachel Teoh Pui Pui have reached out to Nasdaq to discuss the trading activities. They have reaffirmed their commitment to maintaining transparency with stakeholders and providing regular updates on the company's progress and performance through official channels.
The co-founders have also highlighted that neither they nor any major shareholders have sold or pledged shares for loans since the company's initial public offering (IPO). Alongside this statement, they have expressed optimism regarding the company's financial performance, citing the expected revenue growth.
The company's telehealth platform, MaNaDr, offers personalized medical attention to users worldwide, allowing healthcare providers to reach patients through virtual clinics. It provides a range of telehealth solutions, including teleconsultation services, prescription fulfillment, and personalized programs for weight management and gender-specific care.
This report is based on a press release statement from Mobile-health Network Solutions.
InvestingPro Insights
As Mobile-health Network Solutions (MaNaDr) takes strides in its expansion within Southeast Asia and its venture into the retail pharmacy sector, its share price has experienced notable fluctuations. According to InvestingPro data, the company's Price to Earnings (P/E) Ratio stands at -35.87, reflecting market skepticism about its current profitability. Additionally, the Price to Book (P/B) ratio is deeply negative at -313.89, indicating that the market values the company significantly less than its net asset value. Despite these challenges, MaNaDr's revenue growth remains positive, with a 12.68% increase in revenue over the last twelve months as of Q1 2023, and a more recent quarterly revenue growth of 16.05%.
One of the InvestingPro Tips for MaNaDr is that management has been aggressively buying back shares, which can be a sign of confidence in the company's future prospects. However, it is essential to note that analysts do not expect the company to be profitable this year, and the stock has been characterized by high price volatility. Over the last week, the price total return has plummeted by an alarming 86.05%, and the stock has fared poorly over the last month with a 49.4% decrease. This volatility is a critical factor for investors to consider when evaluating the company's stock.
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