Dalrada Financial Corporation Files Form 10-Q, Announces Third Quarter Revenue of $10.3 Million

Company’s pharmaceutical subsidiary continues to drive impressive growth accounting for nearly 80% of Q3 2024 revenue

SAN DIEGO, May 16, 2024 (GLOBE NEWSWIRE) -- Dalrada Financial Corporation (OTCQB: DFCO, “Dalrada,” “the Company”), announced today it had filed a Form 10-Q for the quarter ended March 31, 2024, posting $10.3 million in revenue and highlighting consistent revenue generation, particularly from its specialty pharmacy subsidiary.

“Q3 showed us that the pharmaceutical market is thriving. Driven by our Genefic Specialty Pharmacy subsidiary, our health segment saw $8.6 million in revenue—up $4.2 million from the previous quarter—accounting for the lion’s share of the company's overall revenue,” according to Dalrada CEO and Chairman, Brian Bonar.

Notably, Dalrada’s health segment, Genefic, posted a revenue increase of 80% ($3.8 million) compared to the same quarter of fiscal year 2023, capitalizing on the specialty pharmacy’s extended services, growing client base, and improving internal efficiencies through streamlined business operations.

Important highlights from Q3 2024:

• Dalrada overall revenue: $10.3 million
  • Genefic revenue:
    • $8.6 million
    • Up $4.2 million (95.5%) from previous quarter
    • Up $3.8 million (80.1% increase from Q3 2023)
      
• $13.3 million of affiliate debt converted to Series I preferred shares  
  

“The company continues to make tremendous strides in clearing debt and reducing expenditures while increasing revenue. I’m pleased to report that with this latest filing, Dalrada’s net equity is currently $8.8 million and net losses are $2.9 million—their lowest since 2021,” added Bonar. “Our health segment will remain strong and I’m confident that our climate technology and home heat pumps will also boost revenue in the coming quarters.”

The Dalrada executive team expects ongoing quarter-to-quarter growth during Q4 as well as a year-over-year revenue increase by the end of the fiscal year 2024 (June 30).

About Dalrada Corporation
Dalrada Financial Corporation (OTCQB: DFCO) is a multi-national holding company that develops, manufactures, and sells a robust suite of products and services in the Clean Energy and Health Care sectors. Dalrada’s core segments include Dalrada Climate Technology, which offers cutting-edge heat pump technology for industrial and residential applications, and Genefic Specialty Pharmacy, which provides end-to-end prescription services as well as patient advocacy and support.