Sunrise, FL – August 9, 2017 – U.S. Stem Cell, Inc., a Florida corporation, a leader in the regenerative medicine, cellular therapy industry providing physician based stem cell therapies to human and animal patients, as well as a developer of novel autologous cell therapies, is pleased to announce historic results from operations for the quarter ending June 30, 2017.
“We continue to see improvements in operations and balance sheet performance, specifically in the year-over-year increase in both revenue and profit,” said Mike Tomás, President & CEO of U.S. Stem Cell, Inc. “These positive results can be attributed to growing top line revenues through the expansion of our clinics, clinic partnerships, banking patients’ stem cells for future usage, training physicians and pursuing new international business opportunities for growth.”
U.S. Stem Cell, Inc. strives to provide accomplishments and value for both patients and shareholders. Below are highlights of financial results ending June 30, 2017.
- Revenue up by 104% year-over-year for the quarter: from $678K in Q2 2016 to 1.38M in Q2 2017
- Revenue up by 83% YTD: from $1.39M this time last year to $2.54M in Q2 2017
- Margin increased from 65% to 71% quarter-to-quarter
- Gross profit up by 122% (or $542K) year-over-year for the quarter: from $442K in Q2 2016 to $985K in Q2 2017
- Gross profit up by 80% (or $796K) YTD: from $999K this time last year to $1.79M in Q2 2017
- Income from operations increased from a loss of ($259K) in Q2 2016 to a gain of $142K in Q2 2017, a three-month comparison
- Income from operations increased YTD from a loss of ($272K) in Q2 2016 to a gain of $100K in Q2 2017, a six-month comparison
- Cash Flow is positive YTD at Q2 2017 at $785K compared to YTD Q2 2016 at ($165K), a six-month comparison
- Working Capital Deficit down 6.9% from $5.8M in Q2 2016 to $5.4M in Q2 2017
About U.S. Stem Cell, Inc.
US Stem Cell, Inc. (formerly Bioheart, Inc.) is an emerging enterprise in the regenerative medicine / cellular therapy industry. We are focused on the discovery, development and commercialization of cell based therapeutics that prevent, treat or cure disease by repairing and replacing damaged or aged tissue, cells and organs and restoring their normal function. We believe that regenerative medicine / cellular therapeutics will play a large role in positively changing the natural history of diseases ultimately, we contend, lessening patient burdens as well as reducing the associated economic impact disease imposes upon modern society.
Our business, which includes three operating divisions (US Stem Cell Training, Vetbiologics and US Stem Cell Clinic) includes the development of proprietary cell therapy products as well as revenue generating physician and patient based regenerative medicine / cell therapy training services, cell collection and cell storage services, the sale of cell collection and treatment kits for humans and animals, and the operation of a cell therapy clinic. Management maintains that revenues and their associated cash in-flows generated from our businesses will, over time, provide funds to support our clinical development activities as they do today for our general business operations. We believe the combination of our own therapeutics pipeline combined with our revenue generating capabilities provides the Company with a unique opportunity for growth and a pathway to profitability.
Forward-Looking Statements: Except for historical matters contained herein, statements made in this press release are forward-looking statements. Without limiting the generality of the foregoing, words such as “may”, “will”, “to”, “plan”, “expect”, “believe”, “anticipate”, “intend”, “could”, “would”, “estimate”, or “continue”, or the negative other variations thereof or comparable terminology are intended to identify forward-looking statements. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Also, forward-looking statements represent our management’s beliefs and assumptions only as of the date hereof. Except as required by law, we assume no obligation to update these forward-looking statements publicly, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future.
The Company is subject to the risks and uncertainties described in its filings with the Securities and Exchange Commission, including the section entitled “Risk Factors” in its Annual Report on Form 10-K for the year ended December 31, 2016, and its Quarterly Reports on Form 10-Q.