IMAC Holdings' rapid expansion sees net revenues jump 521% in Q2, patient visits rise 30,000

Written by Alan Condon | August 16, 2019 | Print  | Email

IMAC Holdings reported a 521 percent increase in net revenue year-over-year during the second quarter of 2019, after adding eight clinics since the second quarter of last year.

Five things to know:

1. IMAC acquired three clinics in Chicago, bringing the total owned or operated by the company to 14. CEO of IMAC Holdings Jeff Ervin aims to continue the company's growth "both on an organic basis and via clinical acquisitions."

2. Second-quarter total revenue increased 492 percent to $3.8 million from the same period last year.

3. IMAC reported an increase of 267 percent in total operating expenses year-over-year to $5.7 million.

4. Operating loss rose 111 percent compared to the same period last hear, hitting $1.9 million.

5. The company reported 35,743 second-quarter patient visits, up from 3,993 year-over-year. Patient revenues increased 528 percent to $8.9 million for the same period last year.

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