Revenue for the fourth quarter is expected to total
“Our strong performance in 2020 demonstrated our ability to provide accessible healthcare to an increasing number of patients across the country,” stated
“Given our extensive telehealth platform buildout in 2019, we were prepared when the breakout of the COVID-19 pandemic suddenly accelerated the consumer shift from traditional healthcare to telemedicine,” continued Schreiber. “Conversion Labs now has a strong foundation for growth with a differentiated business model that offers patients convenient and affordable access to healthcare services, prescriptions and over-the-counter medications.”
Annual recurring revenue (ARR) generated by subscriptions reached
Conversion Labs’ head of corporate development,
“We’re excited about the recent relaunch of our proprietary Shapiro MD hair products for men and women under a new subscription-based model,” continued Deutsch. “We expect this to drive greater customer retention similar to the strong results we’ve been seeing with our Rex MD subscription-based model introduced earlier this year. Subscription-based revenue provides us great advantages, including improved forward visibility and lowered overall cost of customer acquisition.”
Schreiber added: “Looking ahead in 2021, we expect our momentum to continue to build, driven by our expanding professional team and growing suite of telehealth brands. Convenience, affordability and health security have become increasingly important to our patients, and this is where we believe
About Conversion Labs
Annual Recurring Revenue
Important Cautions Regarding Forward-Looking Statements
This news release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, as amended, regarding, among other things our plans, strategies and prospects -- both business and financial. Although we believe that our plans, intentions and expectations reflected in or suggested by these forward-looking statements are reasonable, we cannot assure you that we will achieve or realize these plans, intentions or expectations. Forward-looking statements are inherently subject to risks, uncertainties and assumptions. Many of the forward-looking statements contained in this news release may be identified by the use of forward-looking words such as "believe," "expect," "anticipate," "should," "planned," "will," "may," "intend," "estimated," and "potential," among others. Important factors that could cause actual results to differ materially from the forward-looking statements we make in this news release include market conditions and those set forth in reports or documents that we file from time to time with the
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