Mobile-health Network Solutions (Nasdaq: MNDR), a MedTech company based in Singapore, reported its financial results for the first half of fiscal year 2025, ending December 31, 2024. The company recorded a revenue of $4.3 million, a decrease from $6.6 million in the same period the previous year. The net loss was reported at $1.7 million, compared to a net loss of $1.5 million in H1 FY2024. The decline in revenue was attributed to reduced use of MNDR's telemedicine services following the closure of its CityGate clinic in Singapore, with a slight offset from increased sales of medicine and medical devices. Mobile-health Network Solutions has recently undertaken significant strategic changes, including the closure of its CityGate clinic to transition to a more asset-light business model focused on scalable, AI-driven virtual care. The company launched a tele-dentistry service in May 2025, enabling patients to conduct AI-enhanced dental scans at home. Additionally, the acquisition of Lifepack, a pharmacy and telehealth platform in Indonesia, positions MNDR to offer advanced telehealth-pharmacy solutions for Indonesia's market. Looking ahead, Mobile-health Network Solutions expects to achieve breakeven by the second half of fiscal year 2026 and aims for profitability before the first half of fiscal year 2027, as its recent initiatives begin to yield positive outcomes.
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