Electromedical Technologies, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2022
November 14, 2022 at 04:38 pm IST
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Electromedical Technologies, Inc. reported earnings results for the third quarter and nine months ended September 30, 2022. For the third quarter, the company reported sales was USD 0.279551 million compared to USD 0.301157 million a year ago. Net loss was USD 0.957946 million compared to USD 3.3 million a year ago. Basic loss per share from continuing operations was USD 0.01 compared to USD 0.06 a year ago.
For the nine months, sales was USD 0.726696 million compared to USD 0.670551 million a year ago. Net loss was USD 2.64 million compared to USD 6.63 million a year ago. Basic loss per share from continuing operations was USD 0.02 compared to USD 0.26 a year ago.
Electromedical Technologies, Inc. is a bioelectronics manufacturing company. The Company develops and manufactures electrical stimulation equipment with over 10,000 stimulators across the United Kingdom and internationally. It offers United States Food and Drug Administration cleared medical devices for pain management. Its products and services include WellnessPro Plus, WellnessPro POD and Wellness ION Pen. WellnessPro Plus, its principal product, is a technologically advanced transcutaneous electrical nerve stimulation (TENS) therapy device. Its proprietary DeepPulse pre-modulation technology allows signals to penetrate deeper into affected areas. WellnessPro POD is a clinical-grade wearable device. Wellness ION Pen is an interferential cold laser used to deliver targeted frequency stimulation. Its Wellness line of products is intended for anyone living with pain caused by various medical conditions or trauma, or who is battling pharmaceutical (e.g., opioid) dependency or addiction.