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Dalrada Financial Corporation Files Form 10-Q, Announces Third Quarter Revenue of $10.3 Million
Dalrada Financial Corp.
The company’s pharmaceutical subsidiary continues to drive impressive growth, accounting for nearly 80% of Q3 2024 revenue
SAN DIEGO, May 16, 2024 (GLOBE NEWSWIRE) – Dalrada Financial Corporation (OTCQB: DFCO“Dalrada”, “the Company”), announced today that it has filed a Form 10-Q for the quarter ending March 31, 2024, recording revenue of $10.3 million and highlighting consistent revenue generation, especially from its specialized pharmaceutical subsidiary.
“The third quarter showed us that the pharmaceutical market is thriving. Driven by our Genetic Specialized Pharmacy subsidiary, our healthcare segment had revenue of $8.6 million – an increase of $4.2 million from the previous quarter – representing the majority of the company’s overall revenue,” according to the CEO and president of Dalrada, Brian Bonar.
Notably, Dalrada’s healthcare segment, geneticrecorded an 80% revenue increase ($3.8 million) compared to the same quarter in fiscal 2023, capitalizing on expanded specialty pharmacy services, growing the customer base and improving internal efficiencies through operations simplified commercials.
Key highlights from Q3 2024:
“The company continues to make great progress in paying off debt and reducing expenses while increasing revenue. I am pleased to report that with this latest filing, Dalrada’s net worth is currently $8.8 million and net losses are $2.9 million – the lowest since 2021,” Bonar added. “Our healthcare segment will remain strong and I am confident that our climate technology and home heat pumps will also grow revenues in the coming quarters.”
Dalrada’s executive team expects continued quarter-over-quarter growth during the fourth quarter, as well as year-over-year revenue growth through the end of fiscal 2024 (June 30).
About Dalrada Corporation
Dalrada Financial Corporation (OTCQB: DFCO) is a multinational holding company that develops, manufactures and sells a robust suite of products and services in the clean energy and healthcare sectors. Dalrada’s main segments include Dalrada Climate Technologywhich offers cutting-edge technology in heat pumps for industrial and residential applicationsIt is Genetic Specialized Pharmacywhich provides end-to-end prescription services as well as patient advocacy and support.
Dalrada Financial Corporation consistently drives innovation that delivers maximum impact, bringing greater value to its shareholders.
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For more information please visit www.dalrada.comand follow us on LinkedIn, Facebook, TwitterIt is YouTube.
About Genefic
A wholly owned subsidiary of Dalrada Financial Corporation, genetic proudly delivers premier healthcare products and services through redesigned systems and reimagined patient care. Genefic’s exclusive pharmaceutical solution, Genetic Specialized Pharmacyoffers more than 30 years of dedicated experience providing patient advocacy through end-to-end prescription services, medical education, and patient advocacy and support.
Forward-Looking Statements
Statements contained in this press release, other than statements of historical fact, particularly statements relating to cost reductions and anticipated pre-tax savings from the cost reduction program, restructuring costs, footprint rationalization, simplification and streamlining of our operations, reducing complexity, improving the speed of decision-making by leveraging our sourcing capabilities, and the timing of implementation and completion of the cost reduction program are “forward-looking statements” within the meaning of the Securities Litigation Reform Act Private 1995. These statements are based on management’s beliefs and assumptions based on information available at the time such statements are made. These statements, which are generally identifiable by the use of the words “will,” “believe,” “expect,” “intend,” “anticipate,” “estimate,” “forecast,” “project,” “plan” and expressions similar, are subject to certain risks and uncertainties, are made as of the date of this document, and we undertake no duty or obligation to update them. Forward-looking statements are subject to the occurrence of many events beyond the Company’s control and actual results, and the timing of events may differ materially from those suggested or implied by such forward-looking statements due to a number of factors involving substantial known and unknown risks and uncertainties. Factors that may impact the Company’s success are more fully disclosed in the Company’s most recent public filings with the U.S. Securities and Exchange Commission (“SEC”), including its annual report on Form 10-K.
Media Contact: Michael Eslinger meslinger@dalrada.com
