Spine Pain Management reported improved bottom line in the first quarter of 2015.
Here are seven things to know about the company's financial report:
1. Spine Pain Management reported $877,231 in gross revenue for the first quarter, which was offset by $460,933 of the expected settlement. Net revenue was $416,298.
2. The gross revenue was $657,931, offset by $323,243 of standard allowance for discount.
3. The company managed three spine injury diagnostic centers at the three months end, and service cost was $180,966, as compared to $145,152 over the same period last year. The increased cost is due to higher patient volume.
4. The company incurred $482,013 of operating, general and administrative expenses, compared with $573,162 last year. The lower expenses were due to legal expenses incurred during 2014 related to Florida clinics.
5. Spine Pain Management spent $122,372 on QVH marketing and development in the first quarter.
6. There was $82,468 spent on research and development.
7. Spine Pain Management reported net loss of $345,866, or $0.02 for the three month's end.