Empowering Government Efficiency via Enterprise & Mobile Solutions

Announces Acquisition Agreement Valuing the Company at $33.3 Million

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Message: Questions for Victoria Rutherford

Hi, 

To answer your questions, 

  1. There is no current research coverage of HealthSpace. 
  2. HSPay's adoption will be slower at first for two reasons: gov't agencies onboarding it have to get the word out to citizens that the option for online payment is available and their billing cycles are cyclical, typically with the majority of their revenue being billed in a single quarter of the year.  That means it'll take a full year before any one customer's full potential of HSPay adoption is realized.  For that reason, we are not putting projections on HSPay revenue likely until 2022.  Once we do start receiving HSPay revenue, regardless of the amount, we intend on creating a revenue line for it in our financials and/or the MD&A.
  3. Yes, the hiring will grow incrementally from this point forward.  At the start of 2019, the company had around 20 full time employees.  As of right now, we have around 75.  A lot of the initial large volume of hiring was really to catch the company up to where it needed to be for customer service and implementations.  Going forward, the hires will be incremental to support specific company needs such as R&D and product lines like GovCall and HSPay.
  4. We project that we should be nearing break even by end of 2021.  If we continue to execute on the sales pipeline, we should be profitable sometime in 2022.

I hope this helps!
Victoria 

 

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