SCNX

EX-99.1

2 ex99-1.htm

EX-99.1

Exhibit 99.1

SCIENTURE

Reports Q2 2026 Results with Approximately 510% Sequential Revenue Growth from Q1 2026 and Significant Improvement in Operating Performance

Q2 2026 Gross Margin Was Approximately 97.7%, Reflecting the Company’s Growing Commercial Revenue Base

Q2 2026 Operating Loss Improved Approximately 48% Year-over-Year to Approximately $2.7 Million

Q2 2026 Net Loss Narrowed Approximately 58% Year-over-Year to Approximately $2.8 Million

Commenced Commercial Launch of REZENOPY™, Establishing the Company’s Second Commercial Product and Expanding Its Revenue-Generating Portfolio

COMMACK,

NY, Aug. 14, 2026 (GLOBE NEWSWIRE) — SCIENTURE HOLDINGS, INC. (NASDAQ: SCNX) (“Scienture”), a holding company for existing and planned pharmaceutical operating companies focused on providing enhanced value to patients, physicians and caregivers through the development, commercialization, and distribution of novel specialty products that address unmet market needs, today provided a business update and reported financial results for the three and six months ended June 30, 2026.

Second Quarter 2026 and First Half 2026 Financial Highlights

● Revenue increased approximately 510% sequentially to $343,639 in Q2 2026, compared with $56,325 in Q1 2026.

● First-half 2026 revenue increased significantly year-over-year to $399,964, compared with $10,258 for the first six months of 2025.

● Q2 2026 gross profit was $335,779, compared to $0 in Q2 2025, with Q2 2026 gross margin being approximately 97.7%.

● First-half 2026 gross profit increased to $389,629, compared with $673 for the first six months of 2025, with a gross margin of approximately 97.4% for the first half of 2026.

● Q2 2026 operating expenses decreased approximately 41% year-over-year to approximately $3.0 million, compared with approximately $5.2 million in Q2 2025, demonstrating continued expense management and operating discipline.

● First-half 2026 operating expenses decreased approximately 24% to about $6.6 million, compared with approximately $8.7 million during the first six months of 2025.

● Q2 2026 operating loss improved approximately 48% to about $2.7 million, compared with an operating loss of approximately $5.2 million in Q2 2025.

● Q2 2026 net loss narrowed approximately 58% to about $2.8 million, compared with a net loss of approximately $6.7 million in Q2 2025. Basic and diluted net loss per share improved to $0.07 from $0.48 during that time.

● First-half 2026 net loss narrowed approximately 36% to about $6.2 million, compared with approximately $9.8 million for the first six months of 2025. Basic and diluted net loss per share improved to $0.16 from $0.83 during that time.

● As of June 30, 2026, the Company had cash, cash equivalents and restricted cash of approximately $11.2 million compared to approximately $6.7 million of cash and cash equivalents as of December 31, 2025.

Key Operational Highlights in Q2 2026 and Subsequent Events:

● United States Patent and Trademark Office (USPTO) granted a second patent covering REZENOPY™ (naloxone hydrochloride) Nasal Spray 10 mg, strengthening intellectual property protection for the product through 2041.

● United States Patent and Trademark Office (USPTO) granted a third patent covering Arbli™ (losartan potassium) oral suspension, further strengthening the product’s intellectual property portfolio and extending expected market exclusivity through 2041.

● Secured formulary coverage for REZENOPY™ with a large national health plan and expanded the commercial team to support market penetration and growth.

● Expanded ARBLI™ payer coverage and commercial access, adding approximately 12.5 million covered lives.

● Commenced the commercial launch of REZENOPY™ and began fulfillment of initial purchase orders, marking an important milestone in the Company’s commercialization strategy.

Narasimhan Mani, President, Interim CFO, and Co-CEO of Scienture, commented, “We believe our second-quarter results demonstrate that Scienture has reached an important inflection point. Revenue for Q2 20226 increased about 510% sequentially, from approximately $56,000 in the first quarter to approximately $344,000 in the second quarter. At the same time, we generated gross margins of approximately 98%, reduced operating expenses by about 41% year-over-year and narrowed our net loss by approximately 58%. We also ended the quarter with approximately $11.2 million in cash, cash equivalents and restricted cash, compared with about $6.7 million at year-end 2025, providing us with a stronger financial position as we execute the next phase of our commercial growth strategy. We believe these results demonstrate that we are on the right path to deliver value added business growth in the coming quarters and that we are beginning to realize the operating leverage we have been working toward.”

“Arbli’s continued commercial progress gives us confidence in our ability to build and scale differentia

EX-99.1

2 ex99-1.htm

EX-99.1

Exhibit 99.1

SCIENTURE

Reports First Quarter 2026 Financial Results and Business Update Highlighted by Significant Revenue Growth and Gross Margin Expansion

COMMACK,

NY, May 18, 2026 (GLOBE NEWSWIRE) — SCIENTURE HOLDINGS, INC. (NASDAQ: SCNX) (“Scienture”), a holding company for existing and planned pharmaceutical operating companies focused on providing enhanced value to patients, physicians and caregivers through the development, commercialization, and distribution of novel specialty products that address unmet market needs, today provided a business update and reported financial results for the three months ended March 31, 2026.

Q1 2026 Financial Highlights Compared to Q1 2025:

● Revenue increased to approximately $56 thousand for the three months ended March 31, 2026, compared to approximately $10 thousand in the prior-year three-month period, representing an increase of approximately 449% year-over-year, reflecting incremental product orders for ArbliTM in addition to the initial launch quantities ordered in the fourth quarter of 2025

● Gross profit increased substantially to approximately $54 thousand, compared to approximately $673 in the prior-year three-month period, representing an increase of approximately 7900% year-over-year, primarily as a result of the increase in ArbliTM product orders

● Gross margin expanded to approximately 95.6% for the three months ended March 31, 2026, compared to approximately 6.6% in the prior-year three-month period, also as a result of the increase in ArbliTM product orders

Key Operational Highlights in Q1 2026 and Subsequent Events:

● United States Patent and Trademark Office (USPTO) granted a third patent covering ArbliTM (losartan potassium) oral suspension, further strengthening the product’s intellectual property portfolio and extending expected market exclusivity through 2041

● Received an Orange Book-listable patent for REZENOPYTM (naloxone HCl) nasal spray 10 mg, the highest-dose FDA-approved naloxone HCl nasal spray for emergency opioid overdose treatment

● Formalized multiple commercial GPO agreements for REZENOPYTM, expanding access to over 5,000 healthcare institutions and reaching approximately 60% of the U.S. institutional market, including first responders, EMS providers, and rehabilitation centers

● Secured $11.0 Million in non-dilutive debt financing to accelerate growth of approved product portfolio and advancement of R&D pipeline

Narasimhan Mani, President and Co-CEO of Scienture, commented, “Our financial results for the quarter reflect the early progress of our commercialization strategy, with revenue increasing approximately 449% year-over-year to $56 thousand, gross profit increasing approximately 7900% year-over-year to $54 thousand, and gross margin expanding significantly to approximately 95.6%, compared to 6.6% in the prior-year period. The increase in revenue and gross margin reflects incremental product orders received for ArbliTM during the first quarter of 2026, following the significant initial launch quantity orders recorded in the fourth quarter of 2025.”

“During the quarter, we experienced continued month-over-month growth in both prescriptions and units sold for ArbliTM. We are actively working to enhance our promotional and commercial activities around the product to further increase physician awareness and market penetration. We also continue to advance key commercial initiatives to support the planned launch of REZENOPYTM. Our sales force is scheduled to begin operations on June 1, 2026, targeting key accounts and purchasing organizations, and we have also successfully secured key GPO contracts that we believe will support broad commercial access and accelerate adoption following launch. Together, we believe the continued commercialization of ArbliTM and the anticipated launch of REZENOPYTM will have a meaningful impact on our business performance during the second half of 2026,” added Mani.

“In addition, we recently secured $11.0 million through a non-dilutive debt financing transaction that we believe significantly strengthens our capital position and provides important financial flexibility as we continue scaling our commercial operations,” stated Shankar Hariharan, Executive Chairman and co-CEO of Scienture. “We believe this financing will serve as a catalyst to help position the Company toward anticipated profitability in 2027, while also supporting the continued growth of our commercial product portfolio and the progression of our R&D pipeline.”

Q1 2026 Financial Summary

Revenue for the year three months ended March 31, 2026 increased 449% to $56 thousand, compared to $10 thousand in the prior year period, driven by the continued ramp of wholesale distribution sales of SCN-102 (ArbliTM) following its commercial launch. Gross profit increased to approximately $54 thousand, compared to approximately $673 in the prior-year period, representing year-over-year growth of approximatel

EX-99.1

2 ex99-1.htm

Exhibit 99.1

TRxADE HEALTH Reports First Quarter Gross Margin of 69% and Q1 2023 Financial Results

Continues Nationwide Expansion of Breakthrough Digital Healthcare Services IT Platform

TAMPA,

FL, May 15, 2023 — TRxADE HEALTH, INC. (NASDAQ: MEDS) (“TRxADE” or the “Company”), a health services IT company focused on digitalizing the retail pharmacy experience by optimizing drug procurement, the prescription journey and patient engagement in the U.S., today announced its financial results for the quarter ended March 31, 2023.

2023 and Subsequent Operational Highlights

TRxADE continued to expand the TRxADE drug procurement marketplace nationwide, increasing new members approximately 1,100 for the first quarter of 2023 compared to the first quarter of 2022, bringing the total registered members to approximately 14,500+ at March 31, 2023

Management Commentary

Mr. Ajjarapu commented, “The first three months of 2023 have been an exciting and challenging time for TRxADE. We continue to focus the Company’s strategic plans and partnerships, working towards creating sustainable value for our stockholders. I am pleased with the growth we have experienced in our TRxADE platform. We continue to achieve key milestones in our internal roadmap with a focus on innovation and development through our various complementary growth opportunities.”

First Quarter 2023 Financial Summary

Consolidated revenues for the first quarter of 2023 compared to the first quarter of 2022 decreased 31% to $2.2 million, compared to $3.2 million, respectively. The decrease in consolidated revenue was driven by decreased revenue attributed to our Trxade Prime subsidiary. The revenues generated by the TRxADE Platform in the first quarter of 2023 compared to 2022 increased 4% and Trxade Prime year over year revenue declined 70% in 2023 compared to 2022. The subsidiary company Community Specialty Pharmacy experienced a 16% increase in revenue for the first quarter 2023 compared to 2022.

Gross profit analysis of comparable fiscal periods of 2023 and 2022 reflect an increase in gross profits of $221,000 for the first quarter of 2023 compared to 2022. As a percent of revenue, consolidated gross profit increased to 69% for the comparable quarter periods of 2023 and 2022.

Operating expenses for the first quarter of 2023 were $1.9 million, compared to $2.3 million for the first quarter of 2022.

Net loss for the quarter ended March 31, 2023, was ($0.7) million, or ($0.07) per basic and diluted share outstanding, compared to a net loss of ($1.0) million, or ($0.12) per basic and diluted share outstanding for same period in 2022.

Adjusted EBITDA, a non-GAAP financial measure, was ($0.06) million for the first quarter 2023, compared to ($0.7) million for the first quarter 2022. See “Use of Non-GAAP Financial Information” below, and the reconciliation of Adjusted EBITDA to GAAP set forth at the end of this release.

Additional metrics related to our key performance are as follows:

For the three months ended March 31, 2023, the TRxADE Platform increased its registered users by 8%. Total registered users increased  to approximately 14,500+ from 13,400+, as of March 31, 2023, and 2022, respectively. For the same comparable periods the TRxADE Platform revenues increased 4% from $1.38 million for the quarter ended March 31, 2022 to $1.44 million for the period ended 2023. Sales volume on the TRxADE Platform also increased year over year by 7% for the comparable fiscal period.

For the three-month period ended March 31, 2023, compared to the same period in 2022, Integra Pharma Solutions, LLC (“TRxADE Prime”) revenue declined 69% from $1.6 million to $0.5 million.

TRxADE Prime also saw improvements in gross margin. For the first quarter 2023 gross margin was 12% compared to 1% for the first quarter 2022.

The Company is committed to continued efforts designed to build a strong foundation for Trxade Prime and further growth.

Conference Call and Webcast

Management will host a conference call on Monday, May 15, 2023, at 6:00 p.m. Eastern time to discuss TRxADE’s 2023 first quarter financial results. The call will conclude with Q&A from participants. To participate, please use the following information:

2023 First Quarter Conference Call and Webcast

Date: Monday, May 15, 2023

Time: 6:00 p.m. Eastern time

U.S. Dial-in: 1-877-425-9470

International Dial-in: 1-201-389-0878

Webcast: https://callme.viavid.com/viavid/?callme=true&passcode=13711397&h=true&info=company&r=true&B=6

Please dial in at least 10 minutes before the start of the call to ensure timely participation.

A playback of the call will be available through June 15, 2023. To listen, call 1-844-512-2921 within the United States or 1-412-317-6671 when calling internationally and enter replay pin number 13737052. A webcast will also be available for 30 days on the IR section of the Trxade Group website or by clicking the webcast link above.

About TRxADE HEALTH, INC.

TRxADE

EX-99.1

2 ex99-1.htm

Exhibit 99.1

TRxADE HEALTH Reports 16% Revenue Growth and Year End 2022 Financial Results

Continues Nationwide Expansion of Breakthrough Digital Healthcare Services IT Platform

TAMPA,

FL, March 27, 2023 — TRxADE HEALTH, INC. (NASDAQ: MEDS) (“TRxADE” or the “Company”), a health services IT company focused on digitalizing the retail pharmacy experience by optimizing drug procurement, the prescription journey and patient engagement in the U.S., today announced its financial results for the year ended December 31, 2022.

2022 and Subsequent Operational Highlights

TRxADE continued to expand the TRxADE drug procurement marketplace nationwide, adding 1,212 new registered members during fiscal 2022, bringing the total registered members to approximately 14,400+ at December 31, 2022.

Management Commentary

Mr. Ajjarapu commented, “2022 was an exciting and challenging time for TRxADE. We continue to focus the Company’s strategic plans and partnerships, working towards creating sustainable value for our stockholders. I am pleased with the growth we have experienced in our TRxADE platform. We continue to achieve key milestones in our internal roadmap with a focus on innovation and development through our various complementary growth opportunities.”

2022 Annual Financial Summary

Consolidated revenues for the fiscal year of 2022 compared to the fiscal year of 2021 increased 16% to $11.4 million, compared to $9.9 million, respectively. The increase in consolidated revenue was driven by improved revenue attributed to our TRxADE Platform and Trxade Prime subsidiaries. The revenues generated by the TRxADE Platform in the fiscal year 2022 compared to 2021 increased 10% and Trxade Prime year over year revenue improved 46% in 2022 compared to 2021. The subsidiary company Community Specialty Pharmacy experienced a 29% decrease in revenue for the fiscal year 2022 compared to 2021.

Gross profit analysis of comparable fiscal periods of 2022 and 2021 reflect an increase in gross profits of $0.7 million for the fiscal year of 2022 compared to 2021. As a percent of revenue, consolidated gross profit remained consistent at 48% for the comparable annual periods of 2022 and 2021.

Operating expenses for the fiscal year of 2022 were $9.9 million, compared to $10 million in the fiscal year 2021.

Net loss for the year ended December 31, 2022, was ($3.9) million, or ($0.41) per basic and diluted share outstanding, compared to a net loss of ($5.3) million, or ($0.65) per basic and diluted share outstanding for same period in 2021.

Adjusted EBITDA, a non-GAAP financial measure, was ($0.09) million for the fiscal year 2022, compared to ($3.1) million for the fiscal year 2021. See “Use of Non-GAAP Financial Information” below, and the reconciliation of Adjusted EBITDA to GAAP set forth at the end of this release.

Additional metrics related to our key performance are as follows:

For the twelve-month period ended December 31, 2022, the TRxADE Platform increased its registered users by 8%. Total registered users increased to approximately 14,400+ from 13,100+, as of December 31, 2022, and 2021, respectively. For the same comparable periods the TRxADE Platform revenues increased 10% from $4.9 million for the year ended 2021 to $5.4 million for the year ended 2022. Sales volume on the TRxADE Platform also increased year over year by 17% for the comparable fiscal years.

For the twelve-month period ended December 31, 2022, compared to the same period in 2021, Integra Pharma Solutions, LLC (“TRxADE Prime”) revenue improved 46% from $3.2 million to $4.8 million.

TRxADE Prime also saw improvements in gross margin. For the fiscal year 2022 gross margin was a positive 1% compared to a negative (12%) for the fiscal year 2021.

The Company is committed to continued efforts designed to build a strong foundation for Trxade Prime and further growth.

Conference Call and Webcast

Management will host a conference call on Monday, March 27, 2023, at 5:30 p.m. Eastern time to discuss TRxADE’s 2022 financial results. The call will conclude with Q&A from participants. To participate, please use the following information:

2022 Conference Call and Webcast

Date: Monday, March 27, 2023

Time: 5:30 p.m. Eastern time

U.S.

Dial-in: 1-877-425-9470

International Dial-in: 1-201-389-0878

Webcast: https://callme.viavid.com/viavid/?callme=true&passcode=13711397&h=true&info=company&r=true&B=6

Please dial in at least 10 minutes before the start of the call to ensure timely participation.

A playback of the call will be available through April 27, 2023. To listen, call 1-844-512-2921 within the United States or 1-412-317-6671 when calling internationally and enter replay pin number 13737052. A webcast will also be available for 30 days on the IR section of the Trxade Group website or by clicking the webcast link above.

About TRxADE HEALTH, INC.

TRxADE HEALTH (NASDAQ: MEDS) is a health services IT company focused on digitalizing the retail p

EX-99.1

2 ex99-1.htm

Exhibit 99.1

TRxADE HEALTH Reports Third Quarter Gross Margin of 58%  and Q3 2022 Financial Results

Continues Nationwide Expansion of Breakthrough Digital Healthcare Services IT Platform

TAMPA,

FL, November 7, 2022 — TRxADE HEALTH, INC. (NASDAQ: MEDS)(“TRxADE” or the “Company”), a health services IT company focused on digitalizing the retail pharmacy experience by optimizing drug procurement, the prescription journey and patient engagement in the U.S., today announced its financial results for the 2022 third quarter (Q3) ended September 30, 2022.

Third Quarter 2022 and Subsequent Operational Highlights

TRxADE continued to expand the TRxADE drug procurement marketplace nationwide, adding 291 new registered members in Q3 2022 and 1,149 new registered members during the first nine months of 2022, bringing the total registered members to approximately 14,100+ at September 30, 2022.

TRxADE announced in September 2022 that Bonum Health, its Digital Healthcare business subsidiary, had signed a Telemedicine Services Distribution agreement with Wakefern Food Corp., to deploy telemedicine services throughout ShopRite pharmacy-led locations in New Jersey, New York, Pennsylvania, Connecticut, and Maryland.

Bonum Health will provide affordable telemedicine services and prescription discount savings to ShopRite customers by offering Bonum Health’s signature Mobile Health Services application and prescriber program, staffed by over 650+ Board-Certified Medical Providers. The service, which allows customers to connect virtually with doctors and healthcare providers, to get the care they need, also provides access to prescription discount savings through the innovative Bonum Health telemedicine application, which can be downloaded from both Google Play and Apple App stores.

In October 2022, TRxADE announced that Bonum Health had entered into a strategic services distribution agreement with multiple insurance brokerage firms to offer access to telemedicine services for small to medium employer groups.

Management Commentary

Mr. Ajjarapu, commented, “These first nine months of 2022 have been an exciting and challenging time for TRxADE. We continue to focus the Company’s strategic plans and partnerships working towards creating sustainable value for our stockholders. I am pleased with the growth we have experienced in our TRxADE platform. We continue to achieve key milestones in our internal roadmap with a focus on innovation and development through our various complementary growth opportunities.”

Third Quarter 2022 Financial Summary

Consolidated revenues for the third quarter of 2022 compared to the third quarter of 2021, decreased 6% to $2.4 million, compared to $2.6 million, respectively. The consolidated decrease in revenue, is driven by decreases in revenue attributed to our TRxADE Prime and Community Specialty Pharmacy subsidiaries. The revenues generated by the TRxADE Platform in the three and nine months ended September 30, 2022, increased 6% and 10%, respectively, as compared to the same periods in 2021.

Gross profit increased to $1.4 million in the third quarter of 2022 compared to $1.3 million for the same period in 2021. As a percent of revenue, gross profit increased to 58% in the third quarter of 2022, as compared to 50% in the third quarter of 2021. The increase in gross profit was primarily attributable to increased revenue generated by the TRxADE Platform that does not have cost of goods expense and the improved gross margins generated by TRxADE Prime in the third quarter of 2022.

Operating expenses in the third quarter of 2022 were $1.8 million, compared to $2.6 million in the same quarter last year.

Net loss in the third quarter of 2022 was ($0.5) million, or ($0.06) per basic and diluted share outstanding, compared to a net loss of ($1.3) million, or ($0.16) per basic and diluted share outstanding, in the same quarter last year.

Adjusted EBITDA, a non-GAAP financial measure was ($0.4) million for the third quarter of 2022, compared to $0.7 million in the same quarter last year. See “Use of Non-GAAP Financial Information” below, and the reconciliation of Adjusted EBITDA to GAAP set forth at the end of this release.

Additional metrics related to our key performance are as follows:

For the nine-month period ended September 30, 2022, the TRxADE Platform increased its registered users by 1,149. For the three-month period ended September 30, 2022, new registrations were 291, compared to 195 for the same period in 2021. Total registered users increased 9% to approximately 14,100+ from 12,962, as of September 30, 2022 and 2021, respectively.

The table below summarizes the key metrics that management evaluated in relation to the activity on the TRxADE Platform for the three-month period ended September 30, 2022 compared to the same period in 2021:

Processed Sales Volume 18%

Total Revenue 6%

Registered Users 9%

For the three-month period ended September 30, 2022, compared t

EX-99.1

2 ex99-1.htm

Exhibit 99.1

Correction Notice to TRxADE HEALTH Press Release Reporting Second Quarter Revenue Growth of 73% and Q2 2022 Financial Results

Continues Nationwide Expansion of Breakthrough Digital Healthcare Services IT Platform

TRxADE HEALTH, INC. (NASDAQ:MEDS) announced today that its press release issued under the headline “TRxADE HEALTH Reports Second Quarter Revenue Growth of 73% and Q2 2022 Financial Results” on July 25, 2022, included errors in the disclosure of depreciation and amortization for both the three and six months ended June 30, 2022, in the table entitled “Reconciliation of Net Income (Loss) attributable to TRxADE HEALTH, INC., to Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA) and Adjusted EBITDA”. A corrected form of that table is included at the end of this release and the prior press release as corrected is set forth in its entirety below.

TAMPA,

FL, July 26, 2022 — TRxADE HEALTH, INC. (NASDAQ: MEDS)(“TRxADE” or the “Company”), a health services IT company focused on digitalizing the retail pharmacy experience by optimizing drug procurement, the prescription journey and patient engagement in the U.S., announced on July 25, 2022, its financial results for the 2022 second quarter (Q2) ended June 30, 2022.

Second Quarter 2022 and Subsequent Operational Highlights

TRxADE continued to expand the TRxADE drug procurement marketplace nationwide, adding 319 new registered members in Q2 2022 and 685 new registered members during the first six months of 2022, bringing the total registered members to approximately 13,815+ at June 30, 2022.

TRxADE announced earlier this month that its wholly-owned pharmaceutical wholesale business Integra Pharma Solutions, LLC (d/b/a TRxADE Prime) (“Integra”) secured a preferred distribution agreement with GALT Pharmaceuticals, LLC. Integra, which distributes generic and brand medications directly in 34 states through its warehouse, has now added single-source and multi-source products directly from GALT Pharmaceuticals, which further adds to the mission of helping independent pharmacies and its members access top medication products as part of the TRxADE HEALTH network.

“We are pleased to have entered this partnership between Integra and GALT Pharmaceuticals, as it will diversify our product service offerings and renew our commitment to the independent pharmacies we serve. In an everchanging healthcare landscape, equipping our pharmacies with a robust catalog, creates value,” said Mr. Suren Ajjarapu, Chairman and Chief Executive Officer of TRxADE.

Management Commentary

Mr. Ajjarapu, commented, “2022 is an exciting time for TRxADE, as we continue to position ourselves to create sustainable value for our stockholders. I am pleased with the growth we have experienced in our TRxADE and TRxADE Prime platforms. We continue to achieve several key milestones in our internal roadmap with a focus on innovation and development through our various complementary growth opportunities.”

Second Quarter 2022 Financial Summary

Revenues for the second quarter of 2022, increased 73% to $3.3 million, compared to revenue of $1.9 million in the same quarter last year. The increase in revenue was primarily due to revenue generated by the TRxADE Platform and TRxADE Prime.

Gross profit increased to $1.2 million in the second quarter of 2022 compared to $0.8 million for the same period in 2021. As a percent of revenue, gross profit decreased to 36% in the second quarter of 2022, as compared to 44% in the second quarter of 2021. The decrease in gross profit was primarily attributable to higher costs associated with TRxADE Prime transactions.

Operating expenses in the second quarter of 2022 were $2.3 million, compared to $3.4 million in the same quarter last year.

Net loss in the second quarter of 2022 was ($1.1) million, or ($0.13) per basic and diluted share outstanding, compared to a net loss of ($2.6) million, or ($0.32) per basic and diluted share outstanding, in the same quarter last year.

Adjusted EBITDA, a non-GAAP financial measure was ($1.1) million for the second quarter of 2022, compared to ($1.2) million in the same quarter last year. See “Use of Non-GAAP Financial Information” below, and the reconciliation of Adjusted EBITDA to GAAP set forth at the end of this release.

Additional metrics related to our key performance are as follows:

For the six-month period ended June 30, 2022, the TRxADE Platform increased its registered users by 658. For the three-month period ended June 2022, new registrations were 339 compared to 223 for the same period in 2021. Total registered users increased 8% to 13,816 from 12,762, as of June 30, 2022 and 2021, respectively.

The table below summarizes the key metrics that management evaluated in relation to the activity on the TRxADE Platform for the three-month period ended June 30, 2022 compared to the same period in 2021:

Processed Sales Volume 21%

Total Revenue 11%

Registered Users

EX-99.1

2 ex99-1.htm

Exhibit 99.1

TRxADE HEALTH Reports Second Quarter Revenue Growth of 73% and Q2 2022 Financial Results

Continues Nationwide Expansion of Breakthrough Digital Healthcare Services IT Platform

TAMPA,

FL, July 25, 2022 — TRxADE HEALTH, INC. (NASDAQ: MEDS)(“TRxADE” or the “Company”), a health services IT company focused on digitalizing the retail pharmacy experience by optimizing drug procurement, the prescription journey and patient engagement in the U.S., today announced its financial results for the 2022 second quarter (Q2) ended June 30, 2022.

Second Quarter 2022 and Subsequent Operational Highlights

TRxADE continued to expand the TRxADE drug procurement marketplace nationwide, adding 319 new registered members in Q2 2022 and 685 new registered members during the first six months of 2022, bringing the total registered members to approximately 13,815+ at June 30, 2022.

TRxADE announced earlier this month that its wholly-owned pharmaceutical wholesale business Integra Pharma Solutions, LLC (d/b/a TRxADE Prime) (“Integra”) secured a preferred distribution agreement with GALT Pharmaceuticals, LLC. Integra, which distributes generic and brand medications directly in 34 states through its warehouse, has now added single-source and multi-source products directly from GALT Pharmaceuticals, which further adds to the mission of helping independent pharmacies and its members access top medication products as part of the TRxADE HEALTH network.

“We are pleased to have entered this partnership between Integra and GALT Pharmaceuticals, as it will diversify our product service offerings and renew our commitment to the independent pharmacies we serve. In an everchanging healthcare landscape, equipping our pharmacies with a robust catalog, creates value,” said Mr. Suren Ajjarapu, Chairman and Chief Executive Officer of TRxADE.

Management Commentary

Mr. Ajjarapu, commented, “2022 is an exciting time for TRxADE, as we continue to position ourselves to create sustainable value for our stockholders. I am pleased with the growth we have experienced in our TRxADE and TRxADE Prime platforms. We continue to achieve several key milestones in our internal roadmap with a focus on innovation and development through our various complementary growth opportunities.”

Second Quarter 2022 Financial Summary

Revenues for the second quarter of 2022, increased 73% to $3.3 million, compared to revenue of $1.9 million in the same quarter last year. The increase in revenue was primarily due to revenue generated by the TRxADE Platform and TRxADE Prime.

Gross profit increased to $1.2 million in the second quarter of 2022 compared to $0.8 million for the same period in 2021. As a percent of revenue, gross profit decreased to 36% in the second quarter of 2022, as compared to 44% in the second quarter of 2021. The decrease in gross profit was primarily attributable to higher costs associated with TRxADE Prime transactions.

Operating expenses in the second quarter of 2022 were $2.3 million, compared to $3.4 million in the same quarter last year.

Net loss in the second quarter of 2022 was ($1.1) million, or ($0.13) per basic and diluted share outstanding, compared to a net loss of ($2.6) million, or ($0.32) per basic and diluted share outstanding, in the same quarter last year.

Adjusted EBITDA, a non-GAAP financial measure was ($1.1) million for the second quarter of 2022, compared to ($1.2) million in the same quarter last year. See “Use of Non-GAAP Financial Information” below, and the reconciliation of Adjusted EBITDA to GAAP set forth at the end of this release.

Additional metrics related to our key performance are as follows:

For the six-month period ended June 30, 2022, the TRxADE Platform increased its registered users by 658. For the three-month period ended June 2022, new registrations were 339 compared to 223 for the same period in 2021. Total registered users increased 8% to 13,816 from 12,762, as of June 30, 2022 and 2021, respectively.

The table below summarizes the key metrics that management evaluated in relation to the activity on the TRxADE Platform for the three-month period ended June 30, 2022 compared to the same period in 2021:

Processed Sales Volume 21%

Total Revenue 11%

Registered Users 8%

Unique Products listed 40%

For the three-month period ended June 30, 2022, compared to the same period in 2021, Integra Pharma Solutions, LLC (“TRxADE Prime”) increased processed sales volume over 430% and increased unique buyers on the TRxADE Prime platform by 130%.

The table below summarizes the key metrics that management evaluated in relation to the activity for TRxADE Prime for the three-month period ended June 30, 2022, compared to the same period in 2021:

Unique Buyers 135%

Orders 330%

Total Units Sold 713%

Processed Sales 435%

Conference Call and Webcast

Management will host a conference call on Monday, July 25, 2022, at 5:00 p.m. Eastern time to discuss TRxADE’s second quarter 2022 financia

EX-99.1

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PRESS RELEASE

Exhibit 99.1

TRxADE HEALTH Reports First Quarter Revenue Growth of 6% and Q1 2022 Financial Results

Continues Nationwide Expansion of Breakthrough Digital Healthcare Services IT Platform

TAMPA,

FL, May 9, 2022 — TRxADE HEALTH, INC. (NASDAQ: MEDS)(“TRxADE” or the “Company”), a health services IT company focused on digitalizing the retail pharmacy experience by optimizing drug procurement, the prescription journey and patient engagement in the U.S., today announced its financial results for the 2022 first quarter (Q1) ended March 31, 2022.

First Quarter 2022 and Subsequent Operational Highlights

TRxADE continued to expand the TRxADE drug procurement marketplace nationwide, adding 339 new registered members in Q1 2022, bringing the total registered members to approximately 13,475+ at March 31, 2022.

TRxADE announced a venture with Exchange Health, LLC, SOSRx, LLC. SOSRx will provide pharmaceutical manufacturers a single platform to optimize the sale and distribution of their inventory directly to large pharmaceutical buyers across multiple classes of trade. SOSRx opens the market to short dated, over stock and slow-moving pharmaceuticals that would otherwise be subject to destruction. TRxADE anticipates growth in 2022 as more progressive manufacturers are expected to address the public need for enhanced medication accessibility and reliable supply of cost-effective pharmaceuticals.

Management Commentary

“I am pleased with the growth we have experienced in our TRxADE and TRxADE Prime platforms for the first quarter of 2022. We have continued to drive our business forward, achieving several key milestones in our internal roadmap with a focus on innovation and development through our various complementary growth opportunities.

Our new venture, SOSRx, is an exciting addition that provides additional availability to short dated and overstocked drugs, with a goal to positively impact the public need for cost effective medication.

The TRxADE marketplace connects wholesalers and independent pharmacies and our SOSRx marketplace connects the manufacturers and wholesalers. Both the TRxADE and SOSRx marketplaces deliver radical price transparency, economies of scale and competition that benefit the independent pharmacies and wholesalers, while expanding the selling potential for such participants.

We believe the TRxADE and SOSRx platforms provide the opportunity to deliver more affordable prescription costs for consumers.

This is an exciting time for TRxADE, as we continue to position ourselves to create sustainable value for our shareholders,” concluded Mr. Suren Ajjarapu, the Company’s Chairman and Chief Executive Officer.

First Quarter 2022 Financial Summary

Revenues for the first quarter of 2022, increased 6% to $3.2 million, compared to revenue of $3.1 million in the same quarter last year. The increase in revenue was primarily due to revenue generated by the TRxADE Platform and TRxADE Prime.

Gross profit in the first quarter of 2022, decreased 4% to $1.3 million, or 41% of revenues, compared to gross profit of $1.4 million, or 45% of revenues, in the same quarter last year. The decrease in gross profit was primarily attributable to higher costs associated with TRxADE Prime transactions.

Operating expenses in the first quarter of 2022 were $2.3 million, compared to $2 million in the same quarter last year. This increase is primarily due to continued IT initiatives and increased salary and legal expenses.

Net loss in the first quarter of 2022 was ($1.0) million, or ($0.12) per basic and diluted share outstanding, compared to a net loss of ($0.7) million, or ($0.08) per basic and diluted share outstanding, in the same quarter last year.

Adjusted EBITDA, a non-GAAP financial measure, decreased to ($0.7) million for the first quarter of 2022, compared to ($0.5) million in the same quarter last year. See “Use of Non-GAAP Financial Information” below, and the reconciliation of Adjusted EBITDA to GAAP set forth at the end of this release.

Additional metrics related to our key performance are as follows:

As of March 31, 2022, the TRxADE Platform increased its registered users by 915 or 7.3% compared to March 31, 2021. For the quarter ended March 31, 2022, new registrations were 339 compared to 223 for the prior period in 2021. As of March 31, 2022, total registered users increased to 13,475 from 12,560 at March 31, 2021.

The table below summarizes the key metrics that management evaluated in relation to the activity on the TRxADE Platform for the three month period ended March 31, 2022 compared to the same period in 2021:

Processed Sales Volume 25%

Total Revenue 13%

Registered Users 7%

Unique Products Listed 20%

As of March 31, 2022, compared to the same period in 2021, Integra Pharma Solutions, LLC (“TRxADE Prime”) increased processed sales volume over 600% and increased unique buyers on the TRxADE Prime platform by 184%.

The table below summarizes the key metri

EX-99.1

3 ex99-1.htm

Exhibit 99.1

TRxADE HEALTH Reports Year End 2021 Financial Results

Continues Nationwide Expansion of Breakthrough Digital Healthcare Services IT Platform

TAMPA,

FL, March 28, 2022 — TRxADE HEALTH, INC. (NASDAQ:MEDS)(“TRxADE”, “TRxADE HEALTH” or the “Company”), a health services IT company focused on digitalizing the retail pharmacy experience by optimizing drug procurement, the prescription journey and patient engagement in the U.S., today announced its financial results for the fourth quarter (Q4) and year ended (FY) December 31, 2021.

Fourth Quarter 2021 Financial Summary and Operational Highlights

TRxADE continued to expand the TRxADE drug procurement marketplace nationwide, adding 175 new registered members in Q4 2021, bringing the total registered members to approximately 13,100+ at the end of 2021.

Revenues for the fourth quarter of 2021 increased 19.7% to $2.4 million, compared to revenue of $2.0 million in the same quarter last year. The increase in revenue was primarily due to revenue generated by the TRxADE Platform and TRxADE Prime, the Company’s business to business web-based marketplace.

Gross profit in the fourth quarter of 2021 increased 831% to $1.24 million or 51.9% of revenues, compared to $0.1 million, or 6.5% of revenues, in the same quarter last year. The increase in gross profit was primarily attributable to revenue generated by TRxADE Platform, which has a lower cost of sales.

Operating expenses in the fourth quarter of 2021 were $2.0 million compared to $2.4 million in the same quarter last year. This decrease was due primarily to a loss on impairment of goodwill recognized in the same quarter last year, which was a one-time charge.

Net Loss in the fourth quarter of 2021 was ($0.8) million or ($0.10) per basic and diluted share outstanding, compared to ($2.3) million, or ($0.29) per basic and diluted share outstanding, as a result of a $726,000 loss on impairment of goodwill and a one-time $1,081,000 inventory write down, compared to the same quarter last year.

Adjusted EBITDA, a non-GAAP financial measure, decreased to negative $0.8 million in the fourth quarter of 2021, compared to negative $1.4 million in the same quarter last year. See “Use of Non-GAAP Financial Information” below, and the reconciliation of Adjusted EBITDA to GAAP set forth at the end of this release.

Fiscal Year Ended December 31, 2021 Summary

Revenues for the 2021 year decreased 42.2% to $9.9 million, compared to $17.1 million in 2020. The decrease in revenue was due to revenue generated in 2020 by Integra Pharma Solutions, our wholly-owned subsidiary, which revenue was from Personal Protective Equipment (PPE) sales relating to the COVID-19 pandemic in 2020, which decreased in 2021.

Gross profit in fiscal 2021 decreased 16.8% to $4.7 million, or 48.0% of revenues, compared to $5.7 million, or 33.0% of revenues for last year. The increase in gross profit percentage was primarily attributable to higher margins associated with TRxADE Platform revenue, which has a lower cost of sales.

Operating expenses in 2021 were $10.0 million, compared to $8.2 million last year. This increase is primarily due to the Loss on Inventory Investment and, an increase in IT initiatives in our Bonum Health and Alliance Pharma companies.

Net Loss in 2021 was ($5.3) million, or ($0.65) per basic and diluted share outstanding, compared to ($2.5) million, or ($0.33) per basic and diluted share outstanding, last year.

Adjusted EBITDA for the year ended 2021 was negative ($3.7) million compared to positive $0.1 million for the year ended 2020. See “Use of Non-GAAP Financial Information” below, and the reconciliation of Adjusted EBITDA to GAAP set forth at the end of this release.

Looking at our balance sheet, cash and cash equivalents were $3.1 million as of December 31, 2021, compared with $5.9 million as of December 31, 2020. The decrease in cash was due to our IT initiatives with Bonum Health and Alliance Pharma and loss on inventory investment.

Conference Call and Webcast

Management will host a conference call on Monday, March 28, 2022, at 5:00 p.m. Eastern time to discuss TRxADE HEALTH’s fourth quarter and fiscal year 2021 financial results. The call will conclude with Q&A from participants. To participate, please use the following information:

Q4 and Fiscal Year 2020 Conference Call and Webcast

Date: Monday, March 28, 2021

Time: 5:00 p.m. Eastern time

U.S.

Dial-in: 1-877-425-9470

International Dial-in: 1-201-389-0878

Conference

ID: 13727651

Webcast: https://viavid.webcasts.com/starthere.jsp?ei=1534472&tp_key=20fddfb1b1

Please dial in at least 10 minutes before the start of the call to ensure timely participation.

A playback of the call will be available through April 28, 2022. To listen, call 1-844-512-2921 within the United States or 1-412-317-6671 when calling internationally and enter replay pin number 13727651. A webcast will also be available for 30 days on the IR section of the TR

EX-99.1

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Exhibit 99.1

TRxADE HEALTH Reports Third Quarter 2021 Financial Results

Third Quarter 2021 Revenue Increased 34.3% over Second Quarter 2021

TAMPA,

FL, October 25, 2021 — TRxADE HEALTH, INC. (NASDAQ: MEDS), a health services IT company focused on digitalizing the retail pharmacy experience by optimizing drug procurement, the prescription journey and patient engagement in the U.S., today announced its financial results for the third quarter ended September 30, 2021.

Recent Operational Highlights:

● TRxADE HEALTH continued to expand its drug procurement marketplace nationwide, adding approximately 250 new registered members in the third quarter, bringing the total registered members to over 12,950.

● Bonum Health, a TRxADE Company, launched pre-paid digital telemedicine passes, providing an innovative new way for uninsured consumers to gain access to vital healthcare services while concurrently streamlining the path for organizations to efficiently gift healthcare to those in need.

● Attended leading investor conferences nationwide, including the Colliers 5th Annual Investor Conference, the H.C. Wainwright 23rd Annual Global Investment Conference, the Benzinga Virtual Healthcare Conference and the LD Micro Main Event.

Management Commentary

“We saw strong margin improvement as our revenue base returned to the core TRxADE pharmaceutical exchange platform in the third quarter, seeing a drop-off in the one-time personal protective equipment sales recognized in 2020, which were driven by the initial onset of the COVID-19 pandemic,” said Suren Ajjarapu, Chairman and Chief Executive Officer of TRxADE HEALTH. “Our nationwide footprint continues to grow and we have relentlessly focused on exciting new ways to expand proportional wallet-share within our large, growing network of registered users, while better enabling them to service their respect customers – the end-users, further growing their loyalty to their local retail pharmacy.

“Our telehealth subsidiary Bonum Health has continued to grow, building a foundation that we believe we can build upon for years to come – not only offering an advanced telehealth offering, but concurrently allowing consumers to retain their own healthcare data in a secure, compliant manner. This provides an exciting opportunity, leveraging our large, established national footprint of retail partners to drive growth.

“In summary, we are focusing new strategic partnerships to drive forward our core business while diversifying our revenue base and leveraging our existing strengths through Bonum Health. Taken as a whole, we believe we are building an incredibly compelling healthcare ecosystem – allowing consumers access to affordable healthcare while building an exciting value proposition for our shareholders,” concluded Ajjarapu.

Third Quarter 2021 Financial Summary

● Revenues for the third quarter of 2021 were $2.6 million, as compared to $1.9 million for the second quarter of 2021, and $6.3 million in the same quarter last year. The decrease in revenue compared to last year was primarily a result of one-time, non-recurring sales of personal protective equipment (PPE) in 2020 related to the COVID-19 pandemic that did not continue in 2021.

● Gross profit in the third quarter of 2021 totaled $1.3 million, or 50.2% of revenues, compared to gross profit of $1.9 million, or 30.5% of revenues, in the same quarter last year. The increase in gross profit margin percentage was a result of fewer lower-margin PPE sales in 2021.

● Operating expenses in the third quarter of 2021 were $2.6 million, compared to $1.8 million in the same quarter last year, primarily as a result of IT development and marketing investments made in Bonum Health and a bad debt write-off of $630,000 (due to accounts receivable for certain PPE items which were deemed uncollectable).

● Net loss in the third quarter of 2021 was $(1.3) million, or $(0.16) per basic and diluted share outstanding, compared to a net profit of $0.1 million, or $0.02 per basic share outstanding, in the same quarter last year. The decrease was due in part to non-cash equity compensation expenses and the non-recurring write-down of the value of PPE inventory on-hand in accordance with GAAP accounting rules.

● Adjusted EBITDA, a non-GAAP financial measure, was $(1.2) million in the third quarter of 2021, compared to $0.7 million in the same quarter last year.1

● Cash and cash equivalents were $3.6 million as of September 30, 2021, compared with $4.5 million as of June 30, 2021.

1Adjusted EBITDA is a non-GAAP financial measure and is described below under “Use of Non-GAAP Financial Information” and is reconciled to its most directly comparable GAAP measure at the end of this release under “Reconciliation of Net Income (Loss) attributable to TRxADE HEALTH, INC., to Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA) and Adjusted EBITDA”.

Conference Call and Webcast

Management will host a conferenc

EX-99.1

2 ex99-1.htm

Exhibit 99.1

TRxADE HEALTH Reports Second Quarter 2021 Financial Results

Q2 2021 Gross Profit Margin Expands Significantly to 44.3%

TAMPA,

FL, July 26, 2021 — TRxADE HEALTH, INC. (NASDAQ: MEDS), a health services IT company focused on digitalizing the retail pharmacy experience by optimizing drug procurement, the prescription journey and patient engagement in the U.S., today announced its financial results for the second quarter ended June 30, 2021.

Recent Operational Highlights:

● Trxade continued to expand the Trxade drug procurement marketplace nationwide, adding approximately 195 new registered members in Q2 2021, bringing the total registered members to 12,700+.

● Signed enterprise retail partnerships with Winn-Dixie, Big Y, SpartanNash and Brookshire Grocery to onboard new customers to the Company’s telehealth platform. Over 500 stores offer the Company’s Bonum Health product to thousands of customers which is available in all 50 states.

● Secured group purchasing agreement with QualityCare Pharmacies, an independent pharmacy prescription drug buying group, joining TRxADE’s rapidly growing GPO offering to spearhead significant increases in wallet share amongst independent pharmacies on the TRxADE platform.

● Launched government-oriented health passport solution with accompanying mobile app to enable expedited post-COVID-19 reopening.

Management Commentary

“We continue to drive forward telehealth which supports the core strength of our pharmaceutical exchange platform,” said Suren Ajjarapu, Chairman and Chief Executive Officer of TRxADE HEALTH. “Despite the ongoing challenges to the pharmaceutical supply chain posted by the COVID-19 pandemic, we continue to position the Company for future success in its complementary business segments.”

“In continued efforts to expand the reach of our telehealth offering Bonum Health, we inked partnerships with over 500 retail locations nationwide – serving a rapidly growing base of customers in all 50 states. I anticipate the pace of onboarding to accelerate in the coming quarters as consumers naturally gravitate towards our affordable, easy-to-use telehealth platform. We believe that this business, when paired with potentially lucrative digital health passport opportunities abroad, positions us for continued success.”

“Our core exchange business continues to gain momentum through several catalysts, most notably, the addition of new group purchasing organizations that should drive a near-term return to operating profitability. Taken in tandem with our complementary telehealth and health passport businesses, we are better positioned than ever to grow into a much more diversified, profitable company in the near term while creating sustainable, long-term value for our shareholders,” concluded Ajjarapu.

Second Quarter 2021 Financial Summary

● Revenues for the second quarter of 2021 were $1.9 million, as compared to revenues of $6.6 million in the same quarter last year. The decrease in revenue was primarily a result of non-recurring sales of personal protective equipment (PPE) in 2020 related to the COVID-19 pandemic.

● Gross profit in the second quarter of 2021 totaled $0.8 million, or 44.3% of revenues, compared to gross profit of $2.0 million, or 30.4% of revenues, in the same quarter last year. The significant increase in gross profit margin was a result of fewer lower margin PPE sales in 2021.

● Operating expenses in the second quarter of 2021 were $3.4 million, compared to $2.5 million in the same quarter last year, primarily as a result of an inventory investment loss of $1.2 million.

● Net loss in the second quarter of 2021 was $2.6 million, or ($0.32) per basic and diluted share outstanding, compared to a net loss of $0.5 million, or ($0.07) per basic share outstanding, in the same quarter last year.

● Adjusted EBITDA, a non-GAAP financial measure, was ($1.2) million in the second quarter of 2021, compared to $0.27 million in the same quarter last year.1

● Cash and cash equivalents were $4.5 million as of June 30, 2021, compared with $5.2 million as of March 31, 2021.

1Adjusted EBITDA is a non-GAAP financial measure and is described in relation to its most directly comparable GAAP measure under “Use of Non-GAAP Financial Information” below.

Conference Call and Webcast

Management will host a conference call on Monday, July 26, 2021, at 5:00 p.m. Eastern time to discuss TRxADE HEALTH’s second quarter 2021 financial results. The call will conclude with Q&A from participants.

To participate, please use the following information:

Q2 2021 Conference Call and Webcast

Date: Monday, July 26, 2021

Time: 5:00 p.m. Eastern time

U.S.

Dial-in: 1-877-425-9470

International Dial-in: 1-201-389-0878

Conference

ID: 13720923

Webcast: http://public.viavid.com/index.php?id=145434

Please dial in at least 10 minutes before the start of the call to ensure timely participation.

A playback of the call will be available through August 26

EX-99.1

2 ex99-1.htm

Exhibit 99.1

TRxADE Group Reports Record First Quarter 2021 Financial Results

First Quarter Revenues Increased 39% to $3.1 Million

TAMPA,

FL, April 26, 2021 — Trxade Group, Inc. (NASDAQ: MEDS), a health services IT company focused on digitalizing the retail pharmacy experience by optimizing drug procurement, the prescription journey and patient engagement in the U.S., today announced its financial results for the first quarter ended March 31, 2021.

Selected Financial Highlights

$ in millions

Q1

2021

Q1

2020

% Increase (Decrease)

Revenues $3.1 $2.2 39%

Gross Profit $1.4 $1.6 (16)%

Gross Profit Percentage 45% 74% (39)%

Net Income (Loss) $(0.7) $0.2 (446)%

Adjusted EBITDA1 $(0.5) $0.3 (244)%

1 Adjusted EBITDA is a non-GAAP financial measure and is described in relation to its most directly comparable GAAP measure under “Use of Non-GAAP Financial Information” below.

First Quarter 2021 and Subsequent Operational Highlights

● Trxade continued to expand the Trxade drug procurement marketplace nationwide, adding 223 new registered members in Q1 2021, bringing the total registered members to approximately 12,100+.

● Signed enterprise retail partnerships to onboard new customers to our telehealth platform, with approximately 500+ stores offering our signature Bonum Health product to thousands of customers spanning all 50 states.

● Appointed technology entrepreneur and industry thought leader James Ram to lead the Company’s newly launched MedCheks subsidiary in its efforts to bring a Digital Health Passport to market, allowing the holder to display vaccination and COVID-19 testing status.

Management Commentary

“We are pleased to have started 2021 achieving record first quarter growth, while concurrently making impressive operational progress spanning all business units,” said Suren Ajjarapu, Chairman and Chief Executive Officer, who further stated, “Our exciting suite of affiliated services – from our comprehensive telehealth solution, to digital health passports enabling a safe reopening with an attractive pay-per-scan business model – continue to broaden our reach as a company, empowering independent pharmacies with technology to make them indispensable local health hubs.”

“We have been anything but idle in 2021 and have been pounding the pavement to broaden the reach of our Bonum Health Telehealth partnerships, signing strategic partnerships with brand-name stores nationwide, such as Kinney Drugs, ProAct, Brookshire Grocery Company, SpartanNash and most recently, Big Y Foods, as well as others which we’ve been unable to announce per the terms of our agreements, to build a truly national platform. Approximately 500+ stores offer Bonum Health services to thousands of users in all 50 states and we anticipate continued growth in the quarters to come as we ramp up our strategic partnerships and see an increasing number of employers turning to our turnkey telehealth solution.

“Bonum Health is focused on bolstering its value proposition and building its brand identity as part of its mission to become a leading force in the telehealth marketplace. We continue to integrate exciting new solutions into the Bonum Health offering, including a direct-to-patient prescription drug coupon platform through our partnership with SingleCare, the capability to stream patient lab results directly into the Bonum Health virtual electronic medical records, and remote patient monitoring. These product enhancements, paired with our digital marketing strategy, which we are ramping up, provide us with accelerated access into new key markets alongside our enterprise retail partners.”

“We believe we are incredibly well positioned as we stand today, poised to monetize several emerging revenue streams in addition to the steady progress made by our high-margin Trxade Exchange core platform. I look forward to aggressive operational execution in the months ahead as we seek to create sustainable, long-term value for our shareholders,” concluded Ajjarapu.

First Quarter 2021 Financial Summary

● Revenues for the first quarter of 2021 increased 39% to $3.1 million, as compared to revenue of $2.2 million in the same quarter last year. The increase in revenue was primarily due to higher sales by our Integra Pharma Solutions subsidiary.

● Gross profit in the first quarter of 2021 totaled $1.4 million, or 45% of revenues, compared to gross profit of $1.6 million, or 74% of revenues, in the same quarter last year. The decrease in gross profit was primarily attributable to the cost of Personal Protective Equipment (PPE) related purchased products in the current period, while revenues from the Trxade Platform (which made up the majority of revenues last year) carry no cost of sales.

● Operating expenses in the first quarter of 2021 were $2.0 million, compared to $1.5 million in the same quarter last year. This change is primarily due to IT development, legal expenses and marketing expenses related to the recently

EX-99.1

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Exhibit 99.1

TRxADE Group Reports Annual Revenue Growth of 130% and Year End 2020 Financial Results

Continues Nationwide Expansion of Breakthrough Digital Healthcare Services IT Platform

TAMPA,

FL, March 29, 2021 -- Trxade Group, Inc. (NASDAQ: MEDS), a health services IT company focused on digitalizing the retail pharmacy experience by optimizing drug procurement, the prescription journey and patient engagement in the U.S., today announced its financial results for the fourth quarter (Q4) and year ended (FY) December 31, 2020.

Selected Financial Highlights

Q4 % Increase FY % Increase

$ in Millions 2020 2019 (Decrease) 2020 2019 (Decrease)

Revenues $2.0 $1.7 17.1% $17.1 $7.4 130.3%

Gross Profit $0.1 $1.3 (90.0)% $5.7 $4.9 17.2%

Gross Margin Percentage 6.5% 76.5% (91.5)% 33.3% 65.5% (49.1)%

Net Loss $(2.3) $(0.5) (362.0)% $(2.5) $(0.3) (791.6)%

Adjusted EBITDA* $(1.4) $0.2 (929.4)% $0.1 $0.9 (89.7)%

*Adjusted EBITDA is a non-GAAP financial measure and is described in relation to its most directly comparable GAAP measure under “Use of Non-GAAP Financial Information” below.

Fourth Quarter 2020 and Subsequent Operational Highlights

● Trxade continued to expand the Trxade drug procurement marketplace nationwide, adding 328 new registered members in Q4 2020, bringing the total registered members to approximately 11,800+.

● Appointed technology entrepreneur and industry thought leader James Ram, to lead the company’s newly launched MedCheks subsidiary, in its efforts to bring a Digital Health Passport to market, allowing the holder to display vaccination and COVID-19 testing status.

● Trxade’s telehealth subsidiary Bonum Health signed a strategic partnership to provide affordable telemedicine services to the patients of approximately 100 Kinney Drug retail pharmacies in New York and Vermont, and, the more than two million Rx discount card members of Kinney’s sister company, ProAct, Inc., a fully integrated pharmacy benefits manager.

● Launched Trxade Prime, a revolutionary service offered by the Company’s wholesale division, allowing the registered members on the Trxade platform to process, consolidate and ship orders that are placed directly with Trxade Suppliers.

● Announced partnership with SingleCare, a free prescription savings service, to supplement Bonum Health’s enterprise telehealth solutions with prescription discounts offered to national, regional and local pharmacies to promote the benefit to uninsured patients and underserved communities.

Management Commentary

“2020 was a milestone year for our company as we continued to innovate, grow and expand. Despite the challenges of a global pandemic, we increased revenues by 130% for the year, a testament to our team’s continued innovation and development of our breakthrough digital healthcare services IT platform. As we continue to scale exciting new affiliated services, such as our telehealth platform or our recently announced digital health passport initiative, we anticipate continued top line growth in the coming year.

“I am particularly pleased to announce the launch of our new subsidiary, MedCheks, which is developing a digital health passport to help facilitate the safe reopening of the global economy. To head this new initiative, we brought on James Ram. Under his lead, the Digital Health Passport is planned to leverage both state-of-the-art encryption and blockchain technology to conceal all private health data, allowing for the secure exchange of data between passport holder and verifier. We are evaluating initial roll-out locations for the pay-per-use model.

“Bonum Health, our telehealth subsidiary, made significant strides in the fourth quarter to more rapidly propel adoption nationwide. We signed an exciting partnership with KPH Healthcare services, bringing affordable healthcare to the patients of approximately 100 Kinney Drug retail pharmacies on the East Coast.

“Throughout the year, we have continued to drive our business forward, achieving several key milestones in our internal roadmap with a focus on innovation and development through our various complementary growth opportunities. This is an exciting time for Trxade, and I believe we are better positioned to create sustainable value for our shareholders than at any prior time in the Company’s history,” concluded Mr. Ajjarapu, the Company’s Chairman and Chief Executive Officer.

Fourth Quarter 2020 Financial Summary

● Revenues for the fourth quarter of 2020, increased 17.1% to $2 million, compared to revenue of $1.7 million in the same quarter last year. The increase in revenue was primarily due to revenue generated by the Trxade Platform and Trxade Prime.

● Gross profit in the fourth quarter of 2020, decreased 90.0% to $0.1 million, or 6.5% of revenues, compared to gross profit of $1.3 million, or 76.5% of revenues, in the same quarter last year. The decrease in gross profit was primarily attributable to higher costs associated with Trxade Prime

EX-99.1

2 ex99-1.htm

Exhibit 99.1

Trxade Group Reports Record Third Quarter 2020 Financial Results

Revenues Increase 174% to Third Quarter Record of $6.3 Million; Continues Nationwide Platform Expansion

TAMPA,

FL, October 26, 2020 -- Trxade Group, Inc. (NASDAQ: MEDS), an integrated drug procurement, delivery and healthcare platform, has provided its financial results for the third quarter ended September 30, 2020.

Selected Financial Highlights

$ in millions

Q3

2020

Q3

2019

% Increase (Decrease)

Revenues $6.3 $2.3 174%

Gross Profit $1.9 $1.3 47%

Gross Margin 30.5% 56.7% (26.2)%

Net Income $0.14 $0.03 402%

Adjusted EBITDA* $0.67 $0.27 150%

*Adjusted EBITDA is a non-GAAP financial measure and is described in relation to its most directly comparable GAAP measure under “Use of Non-GAAP Financial Information” below.

Third Quarter 2020 and Subsequent Operational Highlights

●Trxade continued to expand its platform nationwide, adding 144 new independent pharmacies in Q3 2020, bringing the total registered pharmacy members to around 11,800.

●Launched Bonum+, a B2B platform under the Company’s telehealth subsidiary Bonum Health, which bundles telehealth, a COVID-19 risk assessment tool and a Personal Protective Equipment (PPE) purchasing tool through a secure mobile dashboard for corporate clients.

●Announced prescription savings partnership with SingleCare, a free prescription savings service, to supplement Bonum Health’s enterprise telehealth solutions with prescription discounts offered to national, regional and local pharmacies to promote the benefit to uninsured patients and underserved communities.

Management Commentary

“The third quarter was highlighted by our impressive financial results, growing revenues 174% year-over-year, due to both robust PPE sales and ever more pharmacies joining the Trxade marketplace platform,” said Suren Ajjarapu, Chairman and Chief Executive Officer. “The COVID-19 pandemic has only underscored the importance of an integrated platform like ours, which enables independent pharmacies to remain competitive and profitable in a changing drug procurement marketplace.”

“The Trxade marketplace platform at the core of our business has continued to grow, with 144 new pharmacies added in the quarter – bringing our total to around 11,800,” added Mr. Ajjarapu.

“Our telehealth subsidiary, Bonum Health, continues to expand the breadth of its service offerings, providing not only telehealth solutions, allowing individuals to speak with a doctor and obtain prescriptions remotely – but further allowing them to purchase prescriptions at a discount through partnerships with companies like SingleCare, and identify a pharmacy near them for pickup. We have concurrently expanded our offerings to employers, who can use our Bonum+ platform to manage COVID-19 risk through a comprehensive interface, helping enable employees to safely return to work.”

“We are a nimble organization and remain well-positioned to address emerging opportunities in the industry through our various business units, having created an unrivaled drug procurement marketplace platform for independent pharmacies, as well as a comprehensive healthcare solution for consumers centered around the independent pharmacy ecosystem. I look forward to our continued progress in the months ahead – creating sustainable, long-term value for our stockholders,” concluded Mr. Ajjarapu.

Third Quarter 2020 Financial Summary

●Revenues for the third quarter of 2020 increased 174% to $6.3 million, compared to revenue of $2.3 million in the same quarter last year. The increase in revenue was primarily due to strong Personal Protective Equipment sales in the third quarter, driven by the COVID-19 pandemic.

●Gross profit in the third quarter of 2020 increased 47% to $1.9 million, or 30.5% of revenues, compared to gross profit of $1.3 million, or 56.7% of revenues, in the same quarter last year. The increase in gross profit was primarily attributable to high-volume, lower-margin sales of Personal Protective Equipment in our Integra Pharma unit.

●Operating expenses in the third quarter of 2020 were $1.8 million, compared to $1.1 million in the same quarter last year. This increase is primarily due to non-cash stock-based compensation expenses, IT Expenditures and marketing expenses.

●Net income in the third quarter of 2020 was $0.14 million, or $0.02 per basic and diluted share outstanding, compared to net income of $0.03 million, or $0.00 per basic and diluted share outstanding, in the same quarter last year.

●Adjusted EBITDA*, a non-GAAP financial measure, increased 150% to $0.67 million, compared to $0.27 million in the same quarter last year.

●Cash and cash equivalents were $6.6 million as of September 30, 2020, compared with $4.2 million as of June 30, 2020.

More information regarding the Company’s Q3 2020 results of operations can be found in the Quarterly Report on Form 10-Q, which the Company plans to file on October 26, 2020 w

EX-99.1

2 ex99-1.htm

Exhibit 99.1

TRxADE Group Reports First Quarter 2020 Financial Results

Q1 2020 Revenues Increase 46% to $2.2 Million; Drives Net Income Increase of 44% to $0.2 Million

TAMPA,

FL – May 4, 2020 – Trxade Group, Inc., (NASDAQ: MEDS) (“Trxade” or the “Company”), an

integrated telehealth, drug procurement, delivery and online healthcare marketplace, today reported its financial results for the first quarter ended March 31, 2020.

Select Financial Highlights:

Three Months Ended March 31, Year-over-Year

2020 2019 % Change

Revenues $2.2 million $1.5 million 46%

Gross Profit $1.6 million $1.1 million 43%

Gross Margin 74.4% 75.8% (1.4)%

Net Income (Loss) $0.2 million $0.1 million 44%

Adj. EBITDA (non-GAAP)1 $0.3 million $0.2 million 58%

1) Adjusted EBITDA is a non-GAAP financial measure and is described in relation to its most directly comparable GAAP measure under “Use of Non-GAAP Financial Information” below.

Recent Highlights:

● The Company continued to expand its trading platform organically, with 305 new independent pharmacies registered in Q1 2020

● Average purchases per pharmacy increased on the Trxade platform by 13.7% in the first quarter of 2020, when compared to the same year ago quarter

● The Company secured first contract with an employer to supply COVID-19 rapid test kits for its employees and families, which provides a diagnosis within 15 minutes at point of care (POCT) with no additional instrumentation needed

● Filed for an Emergency Use Authorization (EUA) with the U.S. Food and Drug Administration (FDA) in collaboration with its partner’s manufacture of the SARS-CoV-2 IgM/IgG Antibody Rapid Test Kits

● Uplisted to Nasdaq Capital Market under the new trading symbol “MEDS” in February 2020

● Received gross proceeds of approximately $5.99 million through an underwritten public stock offering with institutional and accredited investors

● Engaged MZ Group to lead investor relations and shareholder communication program

Management Commentary

“We demonstrated outstanding performance in the first quarter as we reported 46% growth in revenues and exceeded expectations on metrics despite COVID-19,” said Suren Ajjarapu, Chairman and CEO of Trxade Group. “Our diversified growth strategies are driving strong growth across all subsidiaries, including new services and products that directly address the coronavirus pandemic,” further stated Mr. Ajjarapu.

“We have now secured our first employer, a midsized Tampa law firm, to supply COVID-19 rapid test kits to their employees, which will promote a safer working environment and increase awareness of exposure risk. One of our subsidiaries has also begun offering a new monthly subscription bundle at a rate of $19.95 per month, which includes an option of three (3) teleconferencing premium visits per month, as well as free prescription delivery service. We are excited to be taking part in the effort to address COVID-19 and believe we can make a difference in decreasing its spread through testing,” stated Mr. Ajjarapu.

“During the first quarter we took strategic measures to enhance our corporate position, uplisting our common stock to the Nasdaq Capital Market and engaging an investor relations firm to implement a comprehensive capital markets strategy. We also completed an underwritten public stock offering that improved and reinforced our strong balance sheet. Looking forward, we are well positioned with significant momentum to continue growing revenues and income and to meet the increasing demand for our comprehensive service offerings,” concluded Mr. Ajjarapu.

First Quarter 2020 Financial Results

Revenues for the first quarter of 2020 increased 46% to $2.2 million, compared to revenue of $1.5 million in the same quarter last year. Sequentially, this represents an increase of 30% when compared to revenues of $1.7 million in the fourth quarter of 2019. The increase in revenue was primarily due to platform sales.

Gross profit in the first quarter of 2020 increased 43% to $1.6 million, or 74.4% of revenues, compared to gross profit of $1.1 million, or 75.8% of revenues, in the same quarter last year. The increase in gross profit was primarily due to platform sales and reduced cost of goods sold.

Operating expenses in the first quarter of 2020 were $1.5 million compared to $1.0 million in the same quarter last year. This increase is primarily due to legal, filing fees and marketing expenses associated with our public offering and uplisting.

Net income in the first quarter of 2020 increased 44% to $0.2 million, or $0.03 per basic share, compared to net income of $0.1 million, or $0.02 per basic share, in the same quarter last year. The increase in net income was primarily due to increased revenue.

Adjusted EBITDA, a non-GAAP financial measure, increased 33% to $0.3 million, compared to $0.2 million in the same quarter last year.

Cash and cash equivalents were $7.7 million as of March 31, 2020, compared with $2.9 million as

EX-99.1

2 ex99-1.htm

Exhibit 99.1

TRxADE

GROUP, INC. REPORTS 2019 RESULTS

● Delivered 2019 annual revenues of $7.43 Million (94.1% increase)

● Total Adjusted EBITDA of $852,647 (249% increase)

● Launched next generation of Telehealth Platform ( www.Bonumhealth.com )

● Launched Drug delivery platform using our network of pharmacies ( www.delivmeds.com)

● Listed on the NASDAQ, symbol: MEDS

● Received net proceeds of approximately $5.3 million through a public stock offering

TAMPA, FL – (March 30th , 2020) – Trxade Group, Inc., (Nasdaq: MEDS)(“Trxade Group” or the “Company”), an integrated telehealth, drug procurement, delivery and healthcare platform that enables price transparency and increased profit margins to healthcare buyers and sellers of pharmaceuticals, announced annual results for the year ended December 31, 2019.

2019 Annual Results Summary:

● Revenues from continuing operations was $7.43 million compared to $3.83 million for 2018.

● Operating Income for the year 2019 was $125,244 compared to an Operating Loss of ($87,616) in 2018.

The revenue growth was primarily attributable an increase of fee income generated from the Company’s web-based supplier-to-pharmacy trading platform (www.trxade.com) and to the acquisition of our wholly owned subsidiary Community Specialty Pharmacy, LLC.

For the full-year 2019, the Company reported

a net loss available to common shareholders of ($284,428), or ($0.05) per basic share, versus a net income of $9,038, or ($0.00) per basic share, in 2018. Trxade Group, Inc. reported Adjusted EBITDA of $852,647 for the full-year 2019, versus $244,003 in the prior-year period. A schedule reconciling the Company’s GAAP and non-GAAP financial results (including Adjusted EBITDA) is included later in this release.

Suren Ajjarapu, Chairman and CEO, Trxade Group said “In addition to increased revenue growth from our companies, Trxade Group achieved a number of significant milestones around innovation and enhancements in 2019 that add even more value to our role as a strategic provider to independent pharmacies and lower cost healthcare to all consumers. We believe our platform will become even more important for our customers in the years to come. We have a clear vision of our strategy and the opportunities ahead and look forward to another successful year of growth.

Business Highlights:

● Trxade continues to expand the reach of its trading platform through organic expansion, with 3,266 new independent pharmacies registered in 2019.

● Number of pharmacy purchasers increased by 23.07% in 2019 vs. 2018.

● An 8.86% increase in year over year purchases per pharmacy on the Trxade platform.

● Trxade announced the next phase in the evolution of its B2C platform www.bonumhealth.com and www.delivemeds.com that will set the stage for the future introduction of a telehealth and drug delivery using our network of independent pharmacies to consumers.

About Trxade Group, Inc.

Headquartered in Tampa, Florida, Trxade Group, Inc. (Nasdaq: MEDS) is an integrated drug procurement, delivery and healthcare platform that enables price transparency and increased profit margins to buyers and sellers of pharmaceuticals, makes Healthcare services affordable and accessible across all 50 states, and steps in to meet today’s immediate demands. Founded in 2010, Trxade Group is comprised of four synergistic operating platforms; 1) the Trxade B2B trading platform with 12,100 registered pharmacies; 2) a licensed virtual Wholesaler; 3) affordable healthcare via their Bonum Health app and web-based telehealth services; and 4) Same Day or Mail Order Pharmacy delivery capabilities via their DelivMeds app featuring their extensive nationwide distribution network. For additional information, please visit us at www.trxade.com, www.delivmeds.com, and www.bonumhealth.com.

Supplemental Financial Data

The Attached Selected Supplemental Financial Data tables disclose amounts reflected in our historical financial results and include the results of operations for a comparable period. Trxade utilizes certain financial measures that are not calculated in accordance with accepted accounting principles (GAAP) to access its financial performance such as working capital. This presentation should be viewed as a supplement to and not a substitute for the results of operations presented on a GAAP basis. Shareholders are encouraged to review the company’s filings with the Securities and Exchange Commission.

Forward-Looking Statements

Certain statements in this press release, which are not historical facts, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Our actual results, performance or achievements may differ materially from those expressed or implied by these forward-looking statements. In some cases, you can identify forward-looking statements by the use of words such as “may,” “could,” “expect,” “intend,” “plan,” “seek,” “anticipate,” “believe,” “esti

EX-99.1

2 ex99-1.htm

Trxade Group Generates Record Revenues in Third Quarter of 2019

Revenue Growth of 173% to $2.311 Million

Operating Income Growth of 94% to $177,853

7th straight quarter of positive operating income

Shareholder Equity increased to $3.89mil

TAMPA,

FL (Access wire) – October 31st, 2019 – Trxade Group, Inc. (OTCQB: TRXD) (“Trxade” or the “Company”), an integrated pharma supply chain and care platform, announced today its financial results for its third quarter ended September 30, 2019, and provided a business update.

Third Quarter Highlights:

● Generated record revenues of $2,311,426 in quarter ending September 30, 2019 vs. $847,471 in quarter ending September 30, 2018

● Gross profit increased to $1,310,509 from $845,126, in quarters ending September 30, 2019 and 2018, respectively

● Operating income increased to $177,853 from $91,829, in the quarters ending September 30, 2019 and 2018, respectively

● For the three months ended at September 30, 2019, Trxade has validated over 431 New Independent pharmacies to its trading platform, a 9% sequential increase from the prior quarter and a 54% increase from the end of the third quarter of 2018

● Wholesale and Mail Order Pharmacy operational model further developed

● Shareholder equity increased to $3.89M, debt was reduced and cash on hand totaled $3.3M as of September 30, 2019

CEO Sees Continuing Strong Revenue Growth and Profitability in 2019

“During the third quarter of 2019, we made excellent progress in our core proprietary B2B trading platform www.trxade.com, which enables independent pharmacies to purchase drugs at discount prices compared to their primaries, enabling us to experience top and bottom line growth,” commented, Suren Ajjarapu, Chairman and Chief Executive Officer of Trxade Group, who continued, “Additionally, we are investing in core infrastructure for our B-to-C business in our wholesale, e-commerce and delivery capabilities as increasing pharmaceutical prices drive independent pharmacies, payors and consumers to be more aggressive in sourcing medication. Accordingly, I am optimistic that our new product lines will generate profitability.”

Financial Results for the Third Quarter Ended September 30, 2019:

Revenues for the three months ended September 30, 2019 were $2,311,425 vs. $847,471 in the prior year’s quarter, an increase of 173%, and a 21% sequential increase over the second quarter ended June 30, 2019. The revenue growth was primarily attributable to the acquisition of our wholly-owned subsidiary Community Specialty Pharmacy, LLC, and an increase of fee income generated from the Company’s web-based supplier-to-pharmacy trading platform (www.trxade.com).

Trxade Group Inc. Press Release Page 2 of 4

Gross profit for the three months ended September 30, 2019 was $1,310,509, resulting in a gross margin of 56.7%, compared to $845,126 and 99.7% for the three months ended September 30, 2018. The increase in gross profit reflected a sales mix with greater revenue from specialty pharmaceutical sales, which carries a higher cost of sales, reflecting the lower margins, than the Company’s other revenue sources.

General and administrative expenses increased to $1,132,656 in the third quarter of 2019, compared with $753,297 in the prior year’s quarter.

Operating income increased for the third quarter of 2019 to $177,853, versus $91,829 in the prior year’s quarter.

Net income for the three months ended September 30, 2019, was $27,565, a decrease as compared to net income of $94,249, for the same period in 2018. The decrease was primarily due to a one time investment loss of $162,178. Earnings per share (EPS) for the three months period ended September 30, 2019 were $0.00, as compared to $0.00 for the same period in 2018.

At September 30, 2019, Trxade had $3,359,288 of cash, $622,552 of debt and 38.6 million shares issued and outstanding.

Financial Results for the Nine Months Ended September 30, 2019:

Revenues for the nine months ended September 30, 2019 were $5,740,361 vs. $2,538,082 for the nine months ended September 30, 2018, an increase of 126%. The revenue growth was primarily attributable to the acquisition of our wholly-owned subsidiary Community Specialty Pharmacy, LLC, and an increase of fee income generated from the Company’s web-based supplier-to-pharmacy trading platform (www.trxade.com).

Gross profit for the nine months ended September 30, 2019 was $3,620,467, resulting in a gross margin of 63%, compared to $2,535,737 and 99.5% for the nine months ended September 30, 2018. This increase reflected a sales mix with greater revenue from Specialty pharmaceutical sales, which carries a higher cost of sales, reflecting the lower margin, than the Company’s other revenue sources.

General and administrative expenses increased to $3,138,150 for the nine months ended September 30, 2019, compared with $2,313,734 for the nine months ended September 30, 2018.

Operating Income increased for the nine months end

8-K 1 gff8k_110215.htm

FORM 8-K

Form 8-K Filing

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of

The Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): November 2, 2015

000-55218

(Commission file number)

Trxade Group, Inc.

(Exact name of registrant as specified in its charter)

Delaware 46-3673928

(State or other jurisdiction of

incorporation or organization) (IRS Employer Identification No.)

1115 Gunn Hwy.

Suite 202

Odessa, FL 33556

(Address of principal executive offices)

800-261-0281

(Issuer's telephone number)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

[   ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

[   ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

[   ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

[   ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 2.02. Results of Operations and Financial Condition.

On November 2, 2015 the Registrant issued its third quarter earnings press release, a copy of which is attached hereto as Exhibit 99.1 and is incorporated herein by reference.

Item 9.01. Financial Statements and Exhibits.

Exhibit No. Exhibit Description

99.1

Press Release dated November 2, 2015

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Trxade Group, Inc.

(Registrant)

November 2, 2015

(Date)

/s/   SUREN AJJARAPU

Suren Ajjarapu

Chief Executive Officer