- ScreenPro Security (SCRN) reported revenue of over $3.8 million, with net earnings of $724,288
- The company continued to expand its operations while advancing its path to profitability
- New business opportunities arose, including new production customers and the acquisition of Concierge Medical
- ScreenPro remains focused on the expansion of its COVID-19 testing business and expects to see growth in the rest of 2021
- Shares in ScreenPro Security Inc. (SCRN) opened trading at $0.02 per share
ScreenPro Security (SCRN) continued to expand its operations while advancing its path to profitability.
The company reported revenue of over $3.8 million, with net earnings of $724,288 for the third quarter. As a new company, this is the first year of significant earnings for ScreenPro, which reported just $32 in total assets in Q3 2020.
Lena Kozovski, ScreenPro CEO, commented on the difference a year makes.
“We continue to build a profitable life sciences business, revenues are stable, our product offerings will be enhanced with the addition of Concierge Medical, and the company increased its margins, so as we move forward, I am feeling optimistic about the state of the organization.”
ScreenPro added multiple new film and television production customers in Toronto, Montreal, and Vancouver during the third quarter, and launched its strategy to build out into other business sectors.
The company continues to identify new revenue opportunities, expand its operations, reduce operating costs, and maintain good relationships with its supply chain partners despite the disruptive supply chain market.
ScreenPro remains focused on the expansion of its COVID-19 testing business and expects to see growth in the rest of 2021 and through 2022.
The company expects to see growth through its different testing verticals and the new concierge medical services business offering home visit care.
Earlier this month, ScreenPro officially closed its acquisition of Concierge Medical Consultants, a small group of board-certified emergency physicians who provide on-call urgent care, COVID testing and occupational medical consulting services.
Starting in Vancouver, Concierge Medical will capitalize on the custom care management market as part of the company’s post-pandemic business plan.
“I am very happy to see that ScreenPro turned the corner and started showing the profit,” said ScreenPro chairman Andrew Ryu. “Everyone worked hard to stabilize its operating costs to be profitable, and we are now poised to further growth with stable cash flow.”
ScreenPro is a screening and medical technology company that provides turnkey screening solutions with its proprietary medical alerting software.
Shares in ScreenPro Security Inc. (SCRN) opened trading at $0.02 per share.
