NanoVibronix reports Q3 revenue $458K, consensus $150K

Reports Q3 revenue $458K, consensus $150K…”We recorded revenues of $458,000 for the quarter ended September 30 with a loss from operations of $670K. In the relative year-to-date period, revenues increased 22% and the loss from operations was reduced by approximately 20%. Most significantly, our short-term liquidity concerns were alleviated by our sales of securities for net proceeds of approximately $4.2M during the quarter. On our balance sheet for the period ended September 30 , we had $3.8M of cash and receivables and inventory in excess of $3.1M…We remain focused on driving profitable growth by expanding and increasing our distribution and licensing channels, nurturing relationships with new and existing accounts and engaging consumers through a variety of creative mediums. Today, we have initial distribution agreements in place, a solid manufacturing partner and the necessary working capital to meet existing and anticipated demand. We continue to negotiate for sector-specific private label agreements. This strategy is intended to develop long lasting, profitable, forecastable revenue. COVID-19 interrupted our momentum, but we believe that we are on track to aggressively push these discussions forward. In the near-term, we are primarily focused on achieving the following milestones: Supplementing distribution in both VA and Worker’s Compensation channels ;Identifying and initiating a U.S. contract manufacturer to increase capacity with a parallel source to finished product