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NexgenRx Announces 2017 Annual Results


NexgenRx Announces 2017 Annual Results

Toronto, Ontario (FSCwire)NEXGENRX INC. (“NexgenRx” or the “Company”) is pleased to announce its 2017 annual financial results.

The Company’s core recurring revenue stream (transaction and admin fees) increased slightly in 2017, following 19% growth in the prior year. Core recurring revenue growth remains the Company’s primary focus. Gross revenue for the year ended December 31, 2017 was $5,671,550, with cost of sales of $1,119,176, resulting in gross profit of $4,552,374. While additional new staff (primarily sales) hired during 2017 contributed to the Company’s net loss position of $625,907, the Company anticipates that this will translate into accelerated revenue growth in 2018.

Assets, primarily cash, increased by 18% in 2017, funded by a private placement with a strategic investor and the CEO. Continued investment in our leading-edge technology with superior user interfaces such as our mobile app and web browser enhancements make us a leader in the marketplace.

“As stated last year, our goals were to improve our balance sheet and cash position, both of which were achieved during 2017. In addition, we invested in additional resources in sales and marketing which had a short term impact resulting in a loss this year. These investments are expected to position us well for accelerated revenue growth in 2018,” stated Ron Loucks, President and CEO.

About NexgenRx

NexgenRx is Canada’s only independent full service claims adjudicator with full front end administration capability. These combined capabilities allow NexgenRx to provide complete solutions to plan sponsors that need sophisticated health benefit technology applications, in a cost- effective manner. NexgenRx is committed to building partnerships with organizations looking to exceed the expectations of their clients and deliver superior administration and claims processing solutions at a competitive cost. More information on NexgenRx can be found at

Caution Regarding Forward-Looking Statements

Except for statements of historical fact, this news release contains certain “forward-looking information” within the meaning of applicable securities law. Forward-looking information is frequently characterized by words such as “plan”, “expect”, “project”, “intend”, “believe”, “anticipate”, “estimate” and other similar words, or statements that certain events or conditions “may” or “will” occur. In particular, forward-looking information in this press release includes, but is not limited to references to future revenue growth. Although we believe that the expectations reflected in the forward-looking information are reasonable, there can be no assurance that such expectations will prove to be correct. We cannot guarantee future results, performance or achievements. Consequently, there is no representation that the actual results achieved will be the same, in whole or in part, as those set out in the forward-looking information.

Forward-looking information is based on the opinions and estimates of management at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking information. Some of the risks and other factors that could cause the results to differ materially from those expressed in the forward-looking information include, but are not limited to: uncertainty as to whether our strategies and business plans will yield the expected benefits; availability and cost of capital; the ability to identify and develop and achieve commercial success for existing and new products and technologies; the level of expenditures necessary to maintain and improve the quality of products and services; changes in technology and changes in laws and regulations; continued development and enhancement of the Company’s proprietary software technology; cyber security risks and the other risks and uncertainties disclosed in our annual Management’s Discussion and Analysis, as filed under our profile on SEDAR at Readers are cautioned that this list of risk factors should not be construed as exhaustive.

The forward-looking information contained in this news release is expressly qualified by this cautionary statement. We undertake no duty to update any of the forward-looking information to conform such information to actual results or to changes in our expectations except as otherwise required by applicable securities legislation. Readers are cautioned not to place undue reliance on forward-looking information.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of the release.


Ronald C. Loucks

Kelly Ehler CPA, CA

NexgenRx Inc.

NexgenRx Inc.

President and CEO

Chief Financial Officer

416.695.3393 x801


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