HealthWarehouse.com, Inc (HEWA) saw its loss narrow to $0.10 million in the quarter ended compared with $0.18 million, a year ago. Revenue during the quarter surged 58.04 percent to $2.92 million from $1.85 million in the previous year period. Gross margin for the quarter expanded 433 basis points over the previous year period to 66.79 percent. Operating margin for the quarter stood at negative 2.40 percent as compared to a negative 7.15 percent for the previous year period.
Operating loss for the quarter was $0.07 million, compared with an operating loss of $0.13 million in the previous year period.
However, the adjusted EBITDA for the quarter stood at $0.13 million compared to negative $0.02 million in the prior year second quarter. At the same time, adjusted EBITDA margin stood at 4.60 percent for the quarter compared to negative 1.27 percent in the last year period.
"Jeff Holtmeier and his team implemented a series of process improvements that have positively impacted core operations," said John Pauly, the Company's Chief Operating Officer and Interim President and Chief executive officer. "Value and excellent customer service is driving our rapid revenue growth. Our continued growth and effective cost management have brought the Company to EBITDA positive in Q4. We are only scratching the surface of this $51 billion dollar market. We are preparing for continued growth in 2017."
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