Trxade Health Inc MEDS shares are trading significantly lower Tuesday after the company announced worse-than-expected Q2 financial results.
Trxade Health reported a quarterly earnings loss of 32 cents per share, which was down from a loss of 7 cents per share year-over-year. The company reported quarterly revenue of $1.9 million, which was down from $6.6 million year-over-year.
The company said that the decrease in revenue was a result of non-recurring sales of personal protective equipment in 2020 related to the COVID-19 pandemic.
"Despite the ongoing challenges to the pharmaceutical supply chain posted by the COVID-19 pandemic, we continue to position the Company for future success in its complementary business segments," said Suren Ajjarapu, chairman and CEO of Trxade Health.
Price Action: Trxade Health has traded as high as $10.82 and as low as $3.10 over a 52-week period.
At last check Tuesday, the stock was down 16% at $4.42.
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