Innovus Pharma (OTC: INNV) reported Q3 EPS of ($0.01), versus ($0.01) reported last year. Revenue for the quarter came in at $7.4 million, versus $2.22 million reported last year.

• Revenues of approximately $7.4 million, highest gross revenue quarter in Company’s history and up 232% year-over-year;
• Gross margin remains relatively consistent at 79% from prior quarter;
• Quarter subscription net revenue increased 31.7% from prior quarter to $861,000;
• Sales & Marketing expenses declined 4.3% from prior quarter to 71.3%
• Fifth straight quarter of revenue growth;
• FlutiCare® is now the Company’s third highest selling product in terms of units shipped and its number one selling product on its Amazon stores;
• Extended its Beyond Human™ marketing and sales platform to Canada resulting in 25% of total net sales, thus increasing its country diversification away from a reliance on the U.S. market;
• GlucoGorx™ blood glucose monitoring system received coding for Medicare reimbursement;
• Continued growth of cooperative marketing revenue by 27%;
• Expanded its e-commerce business to potentially a $3 million per year business;
• No significant increase in net operating loss;
• Increased product pipeline to 10 additional products;
• Expect approval of 3 new products in Canada for 2018;
• Received approval to expand its Amazon stores to Europe, Mexico and Japan; and
• Currently have seven products that are now sold in certain retail stores in the US and Canada (Zestra®, Zestra Glide®, Androferti®, UriVarx®, Apeaz®, ProtaGorx®, and Uxor®)

“We are very pleased to announce that our third quarter gross revenues of approximately $7.4 million have been the highest in the Company’s history,” stated Bassam Damaj, President and Chief Executive Officer of Innovus Pharma. “We are happy to see that the proportion of our gross revenues from Canada have increased to 25% thereby broadening the reach of our Beyond Human® marketing and sales platform.”

“While we have seen record quarterly revenues and a broadening of our sales efforts, we were also able to decrease our marketing and sales expense and we are diligently working towards exiting the fourth quarter of 2018 profitable,” continued Dr. Damaj.

For earnings history and earnings-related data on Innovus Pharma (INNV) click here.