Engaged in advancing innovative solutions for large-scale market applications
TEL AVIV, Israel, May 04, 2023 — Medigus Ltd. (Nasdaq: MDGS) (“Medigus”), a technology company engaged in advanced medical solutions, innovative internet technologies and electric vehicle and charging solutions, today announced financial results and the filing of its annual report on Form 20-F for the year ended December 31 2022, with the U.S. Securities and Exchange Commission (SEC).
The annual report on Form 20-F, containing audited consolidated financial statements for the year ended December 31, 2022, as filed with the Securities and Exchange Commission on May 3, 2023, is available on the company’s website (https://medigus.com/). Shareholders may receive a hard copy of the annual report free of charge upon request. This press release is being issued pursuant to Nasdaq Listing Rule 5250(d)(1)(C).
- Generated record revenues of $91.8 million in the year ended on December 31, 2022, compared to $10.1 million revenues in the same period of 2021
- Gross profit reached a record $14.4 million in the year 2022, up 201% from a gross profit of $4.8 million in year ended on December 31, 2021
- Shareholders’ equity improved to $54.6 million as of December 31, 2022, up from $51.4 million at December 31, 2021
2022 and recent highlights:
- Medigus distributed cash capital of $1.6 million
- IPO – Jeffs’ Brands Ltd. (34.87%) announced the closing of its $15.5 million initial public offering
- Viewbix (through Gix internet (42.25%)) Reported its financial results for 2022 with a 114% growth in revenues totaling $97 million
- Charging Robotics merged with Fuel Doctor, a public company in the US and commenced trading on the OTC market
- Eventer (46.21%) concluded 2022 with revenues of $2.4million, compared to $1.1 million in 2021
“I am pleased to announce that 2022 was a remarkable year for Medigus, with record high revenues of $91.8 million. The successful performance of our subsidiaries was a significant driver of this achievement,” said Liron Carmel, Chief executive officer of Medigus, “Furthermore, since 2022, two of our subsidiaries have become public companies traded on the Nasdaq and OTC Market, which emphasizes our commitment to sustain growth and provide value to our shareholders. These results are a testament to the diligent efforts and unwavering dedication of our entire team towards realizing the vision of Medigus as an innovation company.”
The Company’s loss before taxes on income for 2022 was approx. $10 million, compared to profit before taxes on income of approx. $4.1 million in 2021. Operating loss for the year ended on December 31, 2022, was $13.7 million, compared to operating loss for the year ended on December 31, 2021, of approx. $9.9 million.