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Skylight Health Group Inc. (NASDAQ: SLHG) Reports a 76% Revenue Growth Year over Year and 62% Sequentially in Q1 2021 Financial Results

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To empower their health, people need to have the correct information and tools. And knowing that hundreds of thousands of patients are always looking for accessible and highly affordable, Skylight Health Group Inc. (NASDAQ: SLHG) has brought the same to the United States. With decades of experience, expertise, and knowledge, the company always anticipates delivering tested and true ideas for improving its health. 

The multi-state primary care management group has made its Q1 2021 Financial Results and Q4 and FY 2020 results public. In Q1 2021, revenue increased by 76% to $5.2 million, overtaking the $2.9 million for the same period last year and $3.2 million of Q4 2020. In addition, a lot of acquisitions of clinics happened during FY 2020, 2020, and in Q1 2021, and according to the company’s CEO and Co-Founder, Prad Sekar, this attributed to the additional revenue. 

The gross profit margin rose to 69% compared to 65% for the same period last year and 68% for Q4 2020. “We exited Q1 profitable at the clinical level, and the investments made in the first quarter continue to be reflected in our ongoing solid growth….” Sekar clarified. He added that having the right leadership team would play a significant role in improving patient economics in the upcoming quarters. 

Skylight Health is Competing Aggressively for Market Share Growth in Three Areas

As it rapidly captures market share within the US healthcare network, Skylight Health is quickly positioning itself to meet this growing opportunity of affordable medical services. Its primary focus is on converting fee-for-service to value-based care, developing its single system of operation, and acquisition of primary care practice groups. 

And to help push forward strides of transformation, the company has made several adjustments to the leadership team. Paul Kulas takes over the COO position, Lynda Mikalauskas joins as Director of Quality and Patient Safety, while Jennifer Brooks joins as Director of Payor Contracting. The three bring a tremendous mixture of creativity, technology, and expertise and will work hand in hand to turn the company into a top-tier healthcare provider in the US.

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