Executive Summary
Healthconn Corp reported QQ1 2024 revenue of 298.6 million TWD, down 3.8% year-over-year and 53.0% quarter-over-quarter, accompanied by a gross margin of 17.99%. Despite a positive EBITDA of 2.02 million TWD, the quarter showed an operating loss of 4.19 million TWD and a net income of 0.11 million TWD, highlighting an ongoing shift from top-line growth to profitability leverage. The company also displayed solid liquidity with a total asset base of 1.41 billion TWD and a substantial equity cushion (92.54 million? No—the equity stands at 925.375 million TWD) while reporting net debt in negative territory, indicating a cash-rich balance sheet relative to borrowings. Operating cash flow was negative (-14.7 million), and free cash flow was also negative (-17.3 million), driven by working capital movements and other investing activities, signaling near-term cash-burn pressures even as the balance sheet remains resilient.
Key Performance Indicators
QoQ: -52.99% | YoY:-3.79%
QoQ: -57.28% | YoY:-6.74%
QoQ: -158.78% | YoY:-94.49%
QoQ: -99.01% | YoY:102.54%
QoQ: -99.04% | YoY:102.42%
Key Insights
Revenue: 298,573,000 TWD; YoY -3.79%, QoQ -52.99%. Gross Profit: 53,704,000 TWD; Gross Margin 17.99%; YoY -6.74%, QoQ -57.28%. Operating Income: -4,185,500 TWD; Margin -1.40%; YoY -94.49%, QoQ -158.78%. EBITDA: 2,016,000 TWD; EBITDA Margin 0.68%. Net Income: 106,500 TWD; Net Margin 0.04%; YoY +102.54%, QoQ -99.01%. EPS: 0.0023 TWD; YoY +102.42%, QoQ -99.04%. Weighted average shares: 45,357,751. Cash flow from operations: -14,703,500 TWD; Free cash flow: -17,321,500 TWD. Balance sheet highlights:...
Financial Highlights
Revenue: 298,573,000 TWD; YoY -3.79%, QoQ -52.99%. Gross Profit: 53,704,000 TWD; Gross Margin 17.99%; YoY -6.74%, QoQ -57.28%. Operating Income: -4,185,500 TWD; Margin -1.40%; YoY -94.49%, QoQ -158.78%. EBITDA: 2,016,000 TWD; EBITDA Margin 0.68%. Net Income: 106,500 TWD; Net Margin 0.04%; YoY +102.54%, QoQ -99.01%. EPS: 0.0023 TWD; YoY +102.42%, QoQ -99.04%. Weighted average shares: 45,357,751. Cash flow from operations: -14,703,500 TWD; Free cash flow: -17,321,500 TWD. Balance sheet highlights: total assets 1,413,643,000 TWD; total liabilities 488,268,000 TWD; total stockholders’ equity 925,375,000 TWD. Debt: total debt 190,000,000 TWD; net debt -178,942,000 TWD. Liquidity: current ratio 2.67; quick ratio 2.36; cash ratio 0.912. Valuation signals (as reported): P/B 1.341; P/S 4.15; P/E 2,912.05; Cash flow-based ratios indicate negative free cash flow despite a sizable equity base.
Income Statement
| Metric |
Value |
YoY Change |
QoQ Change |
| Revenue |
298.57M |
-3.79% |
-52.99% |
| Gross Profit |
53.70M |
-6.74% |
-57.28% |
| Operating Income |
-4.19M |
-94.49% |
-158.78% |
| Net Income |
106.50K |
102.54% |
-99.01% |
| EPS |
0.00 |
102.42% |
-99.04% |
Key Financial Ratios
operatingProfitMargin
-1.4%
operatingCashFlowPerShare
$-0.32
freeCashFlowPerShare
$-0.38
priceEarningsRatio
2912.05
Management Commentary
No earnings call transcript data were provided in the dataset. Consequently, no management quotes or theme-based highlights are available to accompany the QQ1 2024 results.
No earnings call transcript quotes are available in the dataset for QQ1 2024.
— N/A
Forward Guidance
There is no explicit forward guidance in the provided data for Healthconn’s QQ1 2024 results. In the absence of management-provided targets, outlook assessments rely on sector dynamics and the company’s own strategic positioning. Near-term earnings visibility depends on stabilizing quarterly revenue, achieving operating leverage, and sustaining working capital efficiency. Potential catalysts include: (i) scale effects from the Smart Health 365 ecosystem and corporate health services; (ii) cost discipline and mix shift to higher-margin services; (iii) improved utilization of existing asset base and partnerships in preventive care. Key risks include continued quarterly revenue volatility, competitive intensity in health management services, reimbursement and regulatory shifts, and execution risk in scaling integrated service offerings. Monitoring metrics: quarterly revenue trajectory (QoQ recovery), gross margin stabilization or expansion, operating and EBITDA margin progression, and cash flow deltas driven by working capital and capex.