APAC Telehealth Leader MNDR Expects Revenue Growth in H12024 vs H12023

SINGAPORE, April 22, 2024 (GLOBE NEWSWIRE) -- Mobile-health Network Solutions (Nasdaq: MNDR) (“Mobile-Health” or the “Company”), a pioneering Asia-Pacific (“APAC”) telehealth provider, today provided financial guidance for our anticipated results on our six months ended December 31, 2023 (“H12024”).

The Company continues to experience tremendous demand for its telemedicine services. The average monthly telemedicine services provided during H12024 was about 119,000 per month, which was increased by approximately 98.3% during H12024 as compared to about 60,000 telemedicine services per month during the six months ended December 31, 2022 (“H12023”).

In line with the increase, the Company expects the revenue to be about US$6 million for H12024, an increase of approximately 100.0% compared to H12023 of about US$3 million.

Our Co-Chief Executive Officer Dr. Rachel Teoh Pui Pui, PBM, Family Physician, commented, “Based on Frost & Sullivan analysis, the estimated penetration rate for telemedicine services in Singapore is only approximately 15% in 2023. Within Singapore, we expect continued strong growth as telemedicine gets increasingly adopted, amidst an aging population. Looking ahead, we will continue to invest in building our lead in this market, as well as exploring expansion geographically.”

Notes to Guidance

All guidance set forth in this press release is guidance as to our anticipated results. Our final numbers may differ from this guidance and will depend upon factors affecting performance. These numbers should not be relied upon, and our final numbers will be reported in our Form 6-K for the six months ended December 31, 2023, which will be filed with the SEC on or before June 30, 2024.

Investor Notice

Investing in our securities involves a high degree of risk. Before making an investment decision, you should carefully consider the risks, uncertainties and forward-looking statements described in our reports filed by the Company with the SEC. If any of these risks were to occur, our business, financial condition or results of operations would likely suffer. In that event, the value of our securities could decline, and you could lose part or all of your investment. The risks and uncertainties we describe are not the only ones facing us. Additional risks not presently known to us or that we currently deem immaterial may also impair our business operations. In addition, our past financial performance may not be a reliable indicator of future performance, and historical trends should not be used to anticipate results in the future. See "Forward-Looking Statements" below.