CRH Medical posted revenues of $28.73 million for the third quarter of 2018, fueled by a $6.8 million increase in anesthesia service growth.
Here's what you should know.
1. The company's revenues increased 30 percent year over year.
2. CRH made a series of acquisition and expansions over the past two years, as it grows its gastrointestinal anesthesia line. Combined, the company has added $10.1 million in revenues from these actions.
3. For the quarter, CRH served 71,044 patients, up from 49,113 patients year over year.
4. CRH's only loss was in product revenue, which decreased 7 percent year over year from $2.86 million to $2.66 million.
4. For the first three quarters, CRH Medical has $80.73 million in revenue and $41.91 million in operating expenses. The company touts an operating EBITDA of $38.82 million. CRH's product sales are down about 7 percent from $8.43 million to $7.87 million.
5. CRH CEO Edward Wright said, "We are very pleased with our strong third quarter and year to date financial and operating results. Revenue growth and operating margins remain very strong, with year to date adjusted shareholder EBITDA more than $25 million. This shows the impressive strength of our business model and ability to execute."