Avalon GloboCare reports LSM 2022 revenue $14.7M, net income $6.3M; 40% interest acquired Feb 2023

Avalon GloboCare Corp.

LSM FY2022: revenue $14.7M, gross profit $8.1M, net income $6.3M, total operating expense $2.4M.
Avalon acquired 40% of LSM in Feb 2023; profit-sharing arrangement expected to produce significant future cash flow.
LSM provides broad diagnostic tests (drug testing, toxicology, pharmacogenetics, etc.) and has completed 600K+ tests since inception.
CEO cites fragmented lab market as roll-up opportunity to leverage LSM infrastructure for synergies.

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Avalon GloboCare Corp. reported the twelve months ended December 31, 2022 results: revenue $14.7 million, net income $6.3 million.

Period: the twelve months ended December 31, 2022
Revenue: $14.7 million
Net income: $6.3 million
Result: reported results

Exact text from the filing

LSM 2022 Financial Highlights · Revenue was $14.7 million · Gross profit was $8.1 million · Total operating expense was $2.4 million · Net income was $6.3 million

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Avalon GloboCare Corp. filing history →

Source: SEC EDGAR

accession 0001213900-23-033285

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