Mobile-health Network Solutions (MNDR) Registration Filing summary

Company overview and business model

• Operates an integrated, all-in-one telehealth platform (MaNaDr) offering teleconsultations, e-commerce, and corporate wellness services across APAC, with over 1 million registered users and 1,500+ medical professionals as of June 2024.

• Business model includes B2C telemedicine, B2B pharmaceutical sales, online medical store, and corporate healthcare solutions, leveraging proprietary technology and AI for user engagement and operational efficiency.

• Recognized as the leading telehealth provider in Singapore by daily teleconsultations, with expansion into Malaysia, Vietnam, Indonesia, and Australia.

• Platform features include 24/7 virtual care, curated product marketplace, AI-driven health tools, and a global medical community.

Financial performance and metrics

• FY2024 revenue grew 77.4% to $14.0M (from $7.9M in FY2023), driven by private sector telemedicine and increased in-app sales.

• Gross profit rose to $2.5M (FY2023: $1.1M), but net loss widened to $15.6M (FY2023: $3.2M) due to higher operating and share-based compensation expenses.

• Cash and cash equivalents as of June 30, 2024: $6.7M; total assets: $8.0M; total liabilities: $3.8M; shareholders’ equity: $4.1M.

• Adjusted EBITDA for FY2024 was $(3.4)M, reflecting significant investment in growth and IPO-related costs.

Use of proceeds and capital allocation

• Proceeds from the equity purchase agreement (up to $10M) are intended for debt repayment and working capital, with management retaining broad discretion over allocation.

• No dividends are planned for the foreseeable future; focus remains on reinvestment for growth.