Kii

CloudMD Reports Second Quarter 2023 CloudMD Continues to Drive Execution with Adjusted EBITDA Approaching Breakeven

Retrieved on: 
Monday, August 28, 2023

This was CloudMD’s third consecutive quarter of improving Adjusted EBITDA, representing a $2.5 million improvement year over year.

Key Points: 
  • This was CloudMD’s third consecutive quarter of improving Adjusted EBITDA, representing a $2.5 million improvement year over year.
  • On August 23rd, 2023, CloudMD announced the signing of a significant contract to provide Remote Patient Monitoring to a major U.S.
  • Both Gross Margin and Adjusted EBITDA have seen continuous improvement quarter over quarter and our goal for Adjusted EBITDA breakeven in Q4 2023 is within reach.
  • Q2 2023 Adjusted EBITDA1 of ($0.7) million, compared to Adjusted EBITDA1 of ($1.4) million in Q1 2023 and compared to ($3.2) million in Q2 2022.

CloudMD Reports First Quarter 2023 Results Closing the Gap on Path to Profitability

Retrieved on: 
Monday, May 29, 2023

Subsequent to the first quarter of 2023, the Company has identified approximately $4.0 million annually of cost reductions that will be realized in the second and third quarter of 2023.

Key Points: 
  • Subsequent to the first quarter of 2023, the Company has identified approximately $4.0 million annually of cost reductions that will be realized in the second and third quarter of 2023.
  • On April 10, 2023, CloudMD announced that Dhruv Chandra had joined the Company as the new Chief Technology Officer.
  • On May 11, 2023, CloudMD announced a partnership with XTM to bring EAP and Telemedicine to service industry workers.
  • All results were prepared in accordance with International Financial Reporting Standards (“IFRS”) as issued by the International Accounting Standards Board.

CloudMD Expands Partnership with Benefits Alliance to Include Full Suite of Kii Services

Retrieved on: 
Wednesday, April 12, 2023

The expanded partnership allows over 8,000 employee benefit plans across Canada to have access to Kii.

Key Points: 
  • The expanded partnership allows over 8,000 employee benefit plans across Canada to have access to Kii.
  • “This multi-product partnership with Benefits Alliance is an example of the transition we are making from a provider of standalone services to one focused on multi-product, whole person care.
  • The partnership’s expansion comes from a successful 3-year partnership,” said Karen Adams, CEO of CloudMD.
  • Benefits Alliance advisors manage over 8,000 employee benefits plans, with over $1.4 billion of group insurance premiums as well as of 1,500 group retirement plans that have over $3.5 billion in plan assets.

CloudMD Names Dhruv Chandra Chief Technology Officer to Accelerate Technological Advancement in Next Phase of Growth

Retrieved on: 
Monday, April 10, 2023

Dhruv will oversee and provide strategic direction to the technical and engineering teams within CloudMD.

Key Points: 
  • Dhruv will oversee and provide strategic direction to the technical and engineering teams within CloudMD.
  • He will focus on the enhancement of the Company’s technology systems with a focus on a cloud-native, secure, and compliant architecture.
  • Dhruv has close to three decades of experience in technology transformation, risk management, data security, systems architecture, governance and compliance.
  • I am looking forward to working with the executive team and other leaders on integrating and enhancing CloudMD’s technology capabilities,” said Dhruv Chandra, Chief Technology Officer.

CloudMD Suite of Services Available to Canadian Hospitals through Mohawk Medbuy

Retrieved on: 
Tuesday, April 4, 2023

The non-exclusive agreement is with Mohawk Medbuy Corporation (MMC), a not-for-profit, shared services organization supporting hundreds of Canadian hospitals with supply chain, clinical and back office services.

Key Points: 
  • The non-exclusive agreement is with Mohawk Medbuy Corporation (MMC), a not-for-profit, shared services organization supporting hundreds of Canadian hospitals with supply chain, clinical and back office services.
  • Concurrent with the vendor of record agreement, CloudMD has signed a multi-year contract with its first hospital customer.
  • “Hospitals across North America are dealing with significant levels of employee burnout and need additional mental and EFAP support,” said Karen Adams, CEO of CloudMD.
  • The contract also allows for the option of additional CloudMD services such as medical second opinion, absence management, short-term disability management, workers compensation claims management and employment assessments and evaluations.

NuID Launches Ecosystem Fuelled by Kii Token to Empower Users with the Right to Control Their Digital Identity

Retrieved on: 
Tuesday, September 20, 2022

NuID , a decentralized identity and authentication solution, today announced the launch of the Nu Identity (NuID) Ecosystem.

Key Points: 
  • NuID , a decentralized identity and authentication solution, today announced the launch of the Nu Identity (NuID) Ecosystem.
  • View the full release here: https://www.businesswire.com/news/home/20220919005148/en/
    The ecosystem will provide internet users with the ability to own and control their digital identity by using services built upon NuIDs foundational zero-knowledge authentication solution.
  • The Nu Identity Ecosystem is powered by Kii, a new utility token the public sale of which will commence today .
  • The company is using LATOKEN as the launchpad for its IEO and will launch the token in partnership with The Kii Foundation .

CloudMD Reports Q2 2022 Financial Performance; New Leadership Enforces Strategic Priorities to Drive Further Cost Optimization and Profitability

Retrieved on: 
Monday, August 22, 2022

Q2 2022 Adjusted EBITDA2 loss of $3.2 million compared to a loss of $0.6 million in Q2 2021.

Key Points: 
  • Q2 2022 Adjusted EBITDA2 loss of $3.2 million compared to a loss of $0.6 million in Q2 2021.
  • Strategic priorities include driving organic growth, further cost optimization and financial stability and prudent cash management.
  • Q2 2022 revenue was $40.3 million, compared to $41.4 million in Q1 2022 and $15.7 million in Q2 2021.
  • On June 15, 2022, the Company provided an update on strategic priorities to drive organic growth through new sales and cross selling.

CloudMD Finalizes Review and Settlement of the VisionPros Acquisition

Retrieved on: 
Friday, July 22, 2022

The settlement reduces the purchase consideration paid for VisionPros by $14.6 million and also removes any future earnout payments.

Key Points: 
  • The settlement reduces the purchase consideration paid for VisionPros by $14.6 million and also removes any future earnout payments.
  • Prior to reaching a settlement, managements concerns on issues with VisionPros resulted in the Audit Committee undertaking the Review with the assistance of independent legal counsel and financial advisors.
  • As a result of that review, recommendations were made to CloudMDs Board of Directors that the Company proceed with settlement negotiations with the Sellers.
  • Additionally, another 4,909,092 of the common shares of the Company issued to the Sellers on the closing of the acquisition will be returned to CloudMD.

CloudMD Adds Telemedicine Services for Primary Care Health Navigation to Kii Personalized & Connected Care Offering

Retrieved on: 
Wednesday, July 13, 2022

VANCOUVER, British Columbia, July 13, 2022 (GLOBE NEWSWIRE) -- CloudMD Software & Services Inc. (TSXV: DOC, OTCQX: DOCRF, Frankfurt: 6PH) (the “Company” or “CloudMD”), a healthcare technology and innovative health services company transforming the delivery of care, is excited to announce that it has launched a national telemedicine and physical health coaching service as part of its Kii Personalized & Connected Care (“Kii”) offering. Kii, the Company’s flagship employer health and wellness solution, integrates several of its best-in-class technologies and services into one exceptional, connected, and personalized experience.

Key Points: 
  • VANCOUVER, British Columbia, July 13, 2022 (GLOBE NEWSWIRE) -- CloudMD Software & Services Inc. (TSXV: DOC, OTCQX: DOCRF, Frankfurt: 6PH) (the Company or CloudMD), a healthcare technology and innovative health services company transforming the delivery of care, is excited to announce that it has launched a national telemedicine and physical health coaching service as part of its Kii Personalized & Connected Care (Kii) offering.
  • Kii, the Companys flagship employer health and wellness solution, integrates several of its best-in-class technologies and services into one exceptional, connected, and personalized experience.
  • The new telemedicine medical care program provides a personalized treatment plan led by nurses and nurse practitioners and supported by primary care doctors and specialists.
  • Through CloudMDs proprietary technology, the Company delivers quality healthcare through a holistic offering including hybrid primary care clinics, specialist care, telemedicine, mental health support, healthcare navigation, educational resources, and artificial intelligence (AI).

CloudMD Reports First Quarter 2022 Financial Performance with Clear Path to Profitability and Strong Roadmap for Growth

Retrieved on: 
Monday, May 30, 2022

In Q1 we delivered strong performance aligned with a company commitment to generating synergies, profitable execution, and continued growth.

Key Points: 
  • In Q1 we delivered strong performance aligned with a company commitment to generating synergies, profitable execution, and continued growth.
  • We have a strategic plan that focuses on leveraging our core assets, maximizing returns for our clients and shareholders, and achieving sustained profitability.
  • Q1 2022 revenue was $41.4 million, compared to $38.7 million in Q4 2021 and $8.8 million in Q1 2021.
  • All results were prepared in accordance with International Financial Reporting Standards (IFRS) as issued by the International Accounting Standards Board.