On April 15, 2024, Novo Integrated Sciences, Inc. (Novo), a healthcare company listed on the Nasdaq Capital Market under the symbol NVOS, released its financial results for the second fiscal quarter ending February 29, 2024. The company, headquartered in Bellevue, Washington, reported a 24% increase in revenues to $3,170,592 compared to the same period in the previous year, primarily due to an increase in product sales. Despite the revenue growth, Novo experienced a net loss of $2,746,128 for the quarter, which is a 41% improvement from the $4,621,355 loss reported for the quarter ending February 28, 2023. The reduction in net loss is attributed to an increase in gross profit and a decrease in other expenses. Novo also highlighted the conversion of a promissory note into common stock, which settled the...Show More

On April 15, 2024, Novo Integrated Sciences, Inc. (Novo), a healthcare company listed on the Nasdaq Capital Market under the symbol NVOS, released its financial results for the second fiscal quarter ending February 29, 2024. The company, headquartered in Bellevue, Washington, reported a 24% increase in revenues to $3,170,592 compared to the same period in the previous year, primarily due to an increase in product sales. Despite the revenue growth, Novo experienced a net loss of $2,746,128 for the quarter, which is a 41% improvement from the $4,621,355 loss reported for the quarter ending February 28, 2023. The reduction in net loss is attributed to an increase in gross profit and a decrease in other expenses. Novo also highlighted the conversion of a promissory note into common stock, which settled the total principal and interest owed. The company emphasized its focus on operational efficiencies, margin improvement, and the pursuit of nontraditional financing opportunities to support its three-pillar business model, which includes service networks, technology, and product development. Novo's CEO, Robert Mattacchione, reaffirmed the company's commitment to commercializing proprietary products and expanding essential services for non-catastrophic healthcare delivery.