Medigus Announces $53.3 million in Revenues for the First Six Months of 2023


MEDIGUS LTD.
INTERIM CONDENSED CONSOLIDATED STATEMENTS OF LOSS
AND OTHER COMPREHENSIVE LOSS

      Six months ended June 30,  
      2023     2022  
        Unaudited  
      USD in thousands  
Revenues          
Products    3,871   2,343 
Services    49,514   32,616 
     53,385   34,959 
           
Cost of revenues:          
Products    3,497   1,933 
Services    41,688   26,834 
     45,185   28,767 
                   
Gross profit         8,200       6,192  
Research and development expenses         2,632       2,500  
Sales and marketing expenses         1,868       2,240  
General and administrative expenses         8,274       5,057  
Net change in fair value of financial assets at fair value through profit or loss         3,978       813  
Equity losses         1,238       1,910  
Operating loss         (9,790 )     (6,328 )
                     
Gain from initial recognition of assets and liabilities upon consolidation of Gix Internet         -       (2,300 )
Loss from sale of investments         -       (68 )
Other income         (154 )     (176 )
Changes in fair value of warrants issued to investors         (238 )     99  
Changes in fair value of warrants issued to third party investors by a consolidated subsidiary         (1,017 )     63  
Financial loss, net         978       793  
Loss before taxes on income         (9,359 )     (4,739 )
Tax expenses         (177 )     (9 )
Net loss for the period         (9,536 )     (4,748 )
                     
Other comprehensive income (loss)                    
Items that may be reclassified to profit or loss                    
Share of other comprehensive income (loss) of consolidated subsidiaries and associates accounted for using the equity method         306       (961 )
Other comprehensive income (loss) for the period         306       (961 )
Total comprehensive loss for the period         (9,230 )     (5,709 )
                     
Net loss for the period is attributable to:                    
Owners of Medigus         (8,200 )     (3,590 )
Non-controlling interests         (1,336 )     (1,158 )
          (9,536 )     (4,748 )
Total comprehensive loss for the period is attributable to:                    
Owners of Medigus         (8,061 )     (4,275 )
Non-controlling interests         (1,169 )     (1,434 )
          (9,230 )     (5,709 )
Loss per ordinary share attributed to Medigus ltd                    
Basic         (0.33 )     (0.15 )
Diluted         (0.33 )     (0.15 )
                     
Weighted average ordinary shares outstanding (in thousands)                    
Basic         24,490       24,109  
Diluted         24,490       24,109  

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