HealthWarehouse.com, Inc. (HEWA) saw its loss widen to $0.98 million, or $0.03 a share for the quarter ended Sep. 30, 2016. In the previous year period, the company reported a loss of $0.16 million, or $0.01 a share. Revenue during the quarter surged 60.82 percent to $2.72 million from $1.69 million in the previous year period. Gross margin for the quarter expanded 159 basis points over the previous year period to 65.83 percent. Operating margin for the quarter stood at negative 34.58 percent as compared to a negative 7.46 percent for the previous year period.
Operating loss for the quarter was $0.94 million, compared with an operating loss of $0.13 million in the previous year period.
However, the adjusted EBITDA for the quarter stood at negative $0.01 million compared to negative $0.02 million in the prior year second quarter. At the same time, adjusted EBITDA margin stood at negative 0.48 percent for the quarter compared to negative 1.21 percent in the last year period.
"We are pleased by the continued growth of our core consumer prescription and related over-the-counter medication sales," said Jeff Holtmeier, the companys newly appointed president and chief executive officer. "We believe, subsequent to the change of management, the company has implemented a series of process improvements which have already positively impacted core operations and improved the customer experience. We believe these improvements will be more visible in future quarters."
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