First Quarter Total Revenues of $1.02 Billion, Up 23.4% Year Over Year
Subscription Revenue of $882.0 Million, Up 25.8% Year Over Year
Subscription Revenue Backlog of $8.19 Billion, Up 20.5% Year Over YearPLEASANTON, Calif., May 27, 2020 (GLOBE NEWSWIRE) — Workday, Inc. (NASDAQ: WDAY), a leader in enterprise cloud applications for finance and human resources, today announced results for the fiscal 2021 first quarter ended April 30, 2020.First Quarter Fiscal 2021 ResultsTotal revenues were $1.02 billion, an increase of 23.4% from the first quarter of fiscal 2020. Subscription revenue was $882.0 million, an increase of 25.8% from the same period last year.
Operating loss was $144.5 million, or negative 14.2% of revenues, compared to an operating loss of $123.4 million, or negative 15.0% of revenues, in the same period last year. Non-GAAP operating income for the first quarter was $130.5 million, or 12.8% of revenues, compared to a non-GAAP operating income of $107.7 million, or 13.1% of revenues, in the same period last year.1
Net loss per basic and diluted share was $0.68, compared to a net loss per basic and diluted share of $0.52 in the first quarter of fiscal 2020. Non-GAAP net income per diluted share was $0.44, compared to a non-GAAP net income per diluted share of $0.43 in the same period last year.2
Operating cash flows were $263.7 million compared to $209.2 million in the prior year.
Cash, cash equivalents, and marketable securities were $2.60 billion as of April 30, 2020.Comments on the News“The cloud is playing a critical role in today’s climate, with organizations leaning on Workday to pivot – whether it’s helping employees learn virtually, closing books remotely, or scenario planning to determine what path to take. In many of these situations, our customers are running essential businesses, which we are incredibly grateful for,” said Aneel Bhusri, co-founder and CEO, Workday. “Amidst the current environment, we are pleased with our strong Q1 results, which include several new Fortune 500 customers as well as many virtual go-lives. Our employees never cease to amaze me and despite this entirely new way of remote working, they delivered our most recent release with more than 400 new features and moved Workday Extend to general availability.”“Despite a challenging environment, we reported solid first-quarter results, which we believe are a direct reflection of the mission-critical nature of our solutions,” said Robynne Sisco, co-president and chief financial officer, Workday. “While we believe we remain well-positioned for the long term, we are reducing our fiscal 2021 subscription revenue guidance to account for the near-term impact from COVID-19. We now expect fiscal 2021 subscription revenue in a range of $3.67 billion to $3.69 billion. We expect second-quarter subscription revenue of $913.0 million to $915.0 million. We are raising our fiscal 2021 non-GAAP operating margin guidance to 16.0%. We remain confident in the fundamental strength of our business model, and we plan to operate with agility while continuing to drive innovation to support sustainable, long-term growth.”Recent HighlightsWorkday is continuing to prioritize the safety and wellbeing of its community in response to the COVID-19 pandemic. Its efforts include temporarily closing the majority of its global offices, with most employees working remotely; a one-time cash bonus equivalent to two-weeks’ pay – totaling $79 million in additional expense for the company – for the majority of employees; and benefits like expanded back-up care and extended sick leave for those who contract COVID-19. Workday had more than 90 virtual customer go-lives – consisting of organizations using Workday as the core system of record for finance and human resources – in the months of March and April, including two organizations with more than 85,000 employees.Workday announced that Workday Rising and Workday Rising Europe will move to one global, digital experience on Oct. 7-8, 2020. In addition, Workday hosted Adaptive Live virtually on May 20, with more than 2,500 online attendees.Workday’s Co-Founder and CEO Aneel Bhusri volunteered to forgo his equity awards grant during the spring fiscal 2021 annual compensation cycle. His annual base salary remains at the statutory minimum of $65,000 a year.Workday made donations to causes on the front lines of the COVID-19 crisis, including donating a combined total of $1.5 million to the Silicon Valley Community Foundation, the Centers for Disease Control and Prevention, and the United Nations Foundation. Workday appointed Michael C. Bush, CEO of Great Place to Work Institute, to its board of directors. As part of its long-term capital structure strategy, Workday announced the closing of a $750 million term loan and a $750 million revolving credit facility. The product portfolio of Adaptive Insights is now Workday Adaptive Planning, reflecting the full integration of the two brands and demonstrating Workday’s ongoing commitment to planning.Workday Extend, formerly known as Workday Cloud Platform, is now generally available for customers and partners to build apps that extend existing Workday-delivered applications to meet their unique business needs. Workday Cloud Platform now refers to the broader portfolio of tools and solutions that support extensibility across Workday, including Workday Extend and Workday Integration Cloud.Workday delivered Workday 2020 Release 1, which includes key additions in talent optimization, planning, learning, and analytics that help enable customers to better respond to a changing business landscape and initiate a return to the workplace. Key features released include enhanced workforce planning with Workday Adaptive Planning; availability of Workday Assistant, an intuitive chatbot to guide employees; new machine learning-based skills capabilities in Workday Human Capital Management to verify current employee skills and support re-skilling efforts; and new data visualization and benchmarking features with Workday Prism.Earnings Call DetailsWorkday plans to host a conference call today to review its fiscal 2021 first quarter financial results and to discuss its financial outlook. The call is scheduled to begin at 1:30 p.m. PT/4:30 p.m. ET and can be accessed via webcast. The webcast will be available live, and a replay will be available following completion of the live broadcast for approximately 90 days.Workday uses the Workday Blog as a means of disclosing material non-public information and for complying with its disclosure obligations under Regulation FD.About Workday
Workday is a leading provider of enterprise cloud applications for finance and human resources. Founded in 2005, Workday delivers financial management, human capital management, planning, and analytics applications designed for the world’s largest companies, educational institutions, and government agencies. Organizations ranging from medium-sized businesses to Fortune 50 enterprises have selected Workday.Use of Non-GAAP Financial MeasuresReconciliations of non-GAAP financial measures to Workday’s financial results as determined in accordance with GAAP are included at the end of this press release following the accompanying financial data. For a description of these non-GAAP financial measures, including the reasons management uses each measure, please see the section of the tables titled “About Non-GAAP Financial Measures.” A reconciliation of our forward outlook for non-GAAP operating margin with our forward-looking GAAP operating margin is not available without unreasonable efforts as the quantification of share-based compensation expense, which is excluded from our non-GAAP operating margin, requires additional inputs such as the number of shares granted and market prices that are not ascertainable.Forward-Looking StatementsThis press release contains forward-looking statements including, among other things, statements regarding Workday’s second quarter and full year fiscal 2021 subscription revenue outlook, Workday’s full year fiscal 2021 non-GAAP operating margin, impacts from COVID-19, and Workday’s business model, innovation, and growth. The words “believe,” “may,” “will,” “estimate,” “continue,” “anticipate,” “intend,” “expect,” “seek,” “plan,” “project,” “looking ahead,” “look to,” “move into,” and similar expressions are intended to identify forward-looking statements. These forward-looking statements are subject to risks, uncertainties, and assumptions. If the risks materialize or assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. Risks include, but are not limited to: (i) the impact of the ongoing COVID-19 pandemic on our business, as well as our customers, prospects, partners, and service providers; (ii) our ability to implement our plans, objectives, and other expectations with respect to the Scout RFP business or that of any other acquired company; (iii) breaches in our security measures, unauthorized access to our customers’ or other users’ personal data, or disruptions in our data center or computing infrastructure operations; (iv) service outages, delays in the deployment of our applications, and the failure of our applications to perform properly; (v) our ability to manage our growth effectively; (vi) competitive factors, including pricing pressures, industry consolidation, entry of new competitors and new applications, advancements in technology, and marketing initiatives by our competitors; (vii) the development of the market for enterprise cloud applications and services; (viii) acceptance of our applications and services by customers and individuals, including any new features, enhancements, and modifications, as well as the acceptance of any underlying technology such as machine learning, artificial intelligence, and blockchain; (ix) adverse changes in general economic or market conditions; (x) the regulatory, economic, and political risks associated with our domestic and international operations; (xi) the regulatory risks related to new and evolving technologies such as machine learning, artificial intelligence, and blockchain; (xii) delays or reductions in information technology spending; and (xiii) changes in sales, which may not be immediately reflected in our results due to our subscription model. Further information on these and additional risks that could affect Workday’s results is included in our filings with the Securities and Exchange Commission (“SEC”), including our Form 10-K for the fiscal year ended January 31, 2020, and our future reports that we may file with the SEC from time to time, which could cause actual results to vary from expectations. Workday assumes no obligation to, and does not currently intend to, update any such forward-looking statements after the date of this release.Any unreleased services, features, or functions referenced in this document, our website, or other press releases or public statements that are not currently available are subject to change at Workday’s discretion and may not be delivered as planned or at all. Customers who purchase Workday services should make their purchase decisions based upon services, features, and functions that are currently available.© 2020 Workday, Inc. All rights reserved. Workday, Adaptive Insights, and the Workday Logo are trademarks or registered trademarks of Workday, Inc. registered in the United States and elsewhere. All other brand and product names are trademarks or registered trademarks of their respective holders.
Condensed Consolidated Balance Sheets
Condensed Consolidated Statements of Operations
(in thousands, except per share data)
Condensed Consolidated Statements of Cash Flows
Reconciliation of GAAP to Non-GAAP Data
Three Months Ended April 30, 2020
(in thousands, except percentages and per share data)
Reconciliation of GAAP to Non-GAAP Data
Three Months Ended April 30, 2019
(in thousands, except percentages and per share data)
About Non-GAAP Financial Measures
To provide investors and others with additional information regarding Workday’s results, we have disclosed the following non-GAAP financial measures: non-GAAP operating income (loss) and non-GAAP net income (loss) per share. Workday has provided a reconciliation of each non-GAAP financial measure used in this earnings release to the most directly comparable GAAP financial measure. Non-GAAP operating income (loss) differs from GAAP in that it excludes share-based compensation expenses, employer payroll tax-related items on employee stock transactions, and amortization expense for acquisition-related intangible assets. Non-GAAP net income (loss) per share differs from GAAP in that it excludes share-based compensation expenses, employer payroll tax-related items on employee stock transactions, amortization expense for acquisition-related intangible assets, non-cash interest expense related to our convertible senior notes, and income tax effects.Workday’s management uses these non-GAAP financial measures to understand and compare operating results across accounting periods, for internal budgeting and forecasting purposes, for short- and long-term operating plans, and to evaluate Workday’s financial performance. Management believes these non-GAAP financial measures reflect Workday’s ongoing business in a manner that allows for meaningful period-to-period comparisons and analysis of trends in Workday’s business. Management also believes that these non-GAAP financial measures provide useful information to investors and others in understanding and evaluating Workday’s operating results and prospects in the same manner as management and in comparing financial results across accounting periods and to those of peer companies.Management believes excluding the following items from the GAAP Condensed Consolidated Statements of Operations is useful to investors and others in assessing Workday’s operating performance due to the following factors:Share-based compensation expenses. Although share-based compensation is an important aspect of the compensation of our employees and executives, management believes it is useful to exclude share-based compensation expenses to better understand the long-term performance of our core business and to facilitate comparison of our results to those of peer companies. Share-based compensation expenses are determined using a number of factors, including our stock price, volatility, and forfeiture rates, that are beyond our control and generally unrelated to operational decisions and performance in any particular period. Further, share-based compensation expenses are not reflective of the value ultimately received by the grant recipients.Other operating expenses. Other operating expenses includes employer payroll tax-related items on employee stock transactions and amortization of acquisition-related intangible assets. The amount of employer payroll tax-related items on employee stock transactions is dependent on our stock price and other factors that are beyond our control and do not correlate to the operation of the business. For business combinations, we generally allocate a portion of the purchase price to intangible assets. The amount of the allocation is based on estimates and assumptions made by management and is subject to amortization. The amount of purchase price allocated to intangible assets and the term of its related amortization can vary significantly and are unique to each acquisition and thus we do not believe it is reflective of ongoing operations.Amortization of convertible senior notes debt discount and issuance costs. Under GAAP, we are required to separately account for liability (debt) and equity (conversion option) components of the convertible senior notes that were issued in private placements in June 2013 and September 2017. Accordingly, for GAAP purposes we are required to recognize the effective interest expense on our convertible senior notes and amortize the issuance costs over the term of the notes. The difference between the effective interest expense and the contractual interest expense, and the amortization expense of issuance costs are excluded from management’s assessment of our operating performance because management believes that these non-cash expenses are not indicative of ongoing operating performance. Management believes that the exclusion of the non-cash interest expense provides investors an enhanced view of Workday’s operational performance.Income tax effects. We utilize a fixed long-term projected tax rate in our computation of the non-GAAP income tax provision to provide better consistency across the reporting periods. In projecting this long-term non-GAAP tax rate, we utilize a three-year financial projection that excludes the direct impact of share-based compensation and related employer payroll taxes, amortization of acquisition-related intangible assets, and amortization of debt discount and issuance costs. The projected rate considers other factors such as our current operating structure, existing tax positions in various jurisdictions, and key legislation in major jurisdictions where we operate. For fiscal 2020, we determined the projected non-GAAP tax rate to be 17%. For fiscal 2021, we determined the projected non-GAAP tax rate to be 19%, which reflects currently available information, as well as other factors and assumptions. We will periodically re-evaluate this tax rate, as necessary, for significant events, based on our ongoing analysis of the 2017 U.S. Tax Cuts and Jobs Act, relevant tax law changes, material changes in the forecasted geographic earnings mix, and any significant acquisitions.The use of non-GAAP operating income (loss) and non-GAAP net income (loss) per share measures have certain limitations as they do not reflect all items of income and expense that affect Workday’s operations. Workday compensates for these limitations by reconciling the non-GAAP financial measures to the most comparable GAAP financial measures. These non-GAAP financial measures should be considered in addition to, not as a substitute for or in isolation from, measures prepared in accordance with GAAP. Further, these non-GAAP measures may differ from the non-GAAP information used by other companies, including peer companies, and therefore comparability may be limited. Management encourages investors and others to review Workday’s financial information in its entirety and not rely on a single financial measure.Investor Relations Contact:
+1 (925) 379-6000
+1 (415) 828-3034
GENFIT: Enhances Board of Directors with Two Strategic Appointments
Lille (France), Cambridge (Massachusetts, United States), July 7, 2020 – GENFIT (Nasdaq and Euronext: GNFT), a late-stage biopharmaceutical company dedicated to improving the lives of patients with metabolic and liver diseases, today announced, following its annual Shareholders Meeting, the appointment of Ms. Katherine Kalin and Mr. Eric Baclet to the company’s Board of Directors. Together, they bring more than 50 years of combined pharmaceutical experience and deep subject matter expertise that will aid in the next phase of Genfit’s growth.Pascal Prigent, CEO of GENFIT, noted: “We are delighted to announce the appointments of Katherine and Eric to the board. Both bring a wealth of highly relevant life science industry experience. Ms. Kalin has extensive strategic and financial management experience in both pharmaceutical and diagnostic solutions, with a deep understanding of the U.S. market. Mr. Baclet has a broad experience covering therapeutic drug development, as well as commercial management in several markets, including China. Both will bring strong knowledge bases and strategic insights as the company works to determine the next corporate steps that will shape its transformation.”Ms. Kalin’s healthcare industry expertise spans diagnostics, medical devices, and pharmaceuticals. Ms. Kalin is currently a director on the boards of Clinical Genomics, a molecular diagnostic firm, Brown Advisory, a strategic advisory and investment firm, and Primari Analytics, a startup in artificial intelligence. From 2012-17, Ms. Kalin led corporate strategy at Celgene, a global biopharmaceutical company, for 5 1/2 years. Prior to that, Ms. Kalin held executive leadership roles in marketing, sales, strategy and new business development at Johnson & Johnson (J&J) from 2002 to 2011. Prior to J&J, Ms. Kalin served as a Partner at McKinsey and Company, a global management consulting firm, where she negotiated and led consulting assignments, as a strategic advisor to pharmaceutical, medical device and other healthcare companies.Mr. Eric Baclet has over 30 years of experience with Eli Lilly in international drug development, management, and commercialization, all expertise he gained as President and General Manager of Lilly Italia, General Manager of Lilly China, VP of Global Marketing, and Executive Directorship of International Marketing, to name a few. Throughout his tenure at Eli Lilly, Mr. Baclet spearheaded international drug launches across multiple geographies, and led multi-disciplinary teams involved in biopharmaceutical value-chain management in more than seven countries.Jean-François Mouney, Chairman of the Board, added: “The Board is thrilled to welcome Katherine and Eric. We look forward to working with Pascal and the GENFIT team to help the company build value and succeed in its development programs in therapeutic areas with high unmet medical need.” ABOUT GENFITGENFIT is a late-stage biopharmaceutical company dedicated to the discovery and development of innovative therapeutic and diagnostic solutions in metabolic and liver related diseases where there are considerable unmet medical needs, corresponding to a lack of approved treatments. GENFIT is a pioneer in the field of nuclear receptor-based drug discovery, with a rich history and strong scientific heritage spanning more than two decades. Its drug candidate, elafibranor, is currently being evaluated in a pivotal Phase 3 clinical trial (“RESOLVE-IT”) as a potential treatment for NASH and GENFIT plans to initiate a Phase 3 clinical trial of elafibranor in patients with PBC. As part of GENFIT’s comprehensive approach to clinical management of patients with NASH, the Company is also developing a new, non-invasive blood-based diagnostic technology, NIS4™, which, if approved, could enable easier identification of patients with at-risk NASH. With facilities in Lille and Paris, France, and Cambridge, MA, USA, the Company has approximately 200 employees. GENFIT is a publicly traded company listed on the Nasdaq Global Select Market and on compartment B of Euronext’s regulated market in Paris (Nasdaq and Euronext: GNFT). www.genfit.com
FORWARD LOOKING STATEMENTSThis press release contains certain forward-looking statements, including those within the meaning of the Private Securities Litigation Reform Act of 1995, with respect to GENFIT, including statements about the Company’s next development and transformation steps, its potential to create value, and new Directors’ contribution to value creation. The use of certain words, including “believe,” “potential,” “expect” and “will” and similar expressions, is intended to identify forward-looking statements. Although the Company believes its expectations are based on the current expectations and reasonable assumptions of the Company’s management, these forward-looking statements are subject to numerous known and unknown risks and uncertainties, which could cause actual results to differ materially from those expressed in, or implied or projected by, the forward-looking statements. These risks and uncertainties include, among other things, the uncertainties inherent in research and development, including related to safety, biomarkers, progression of, and results from, its ongoing and planned clinical trials, review and approvals by regulatory authorities of its drug and diagnostic candidates and the Company’s continued ability to raise capital to fund its development, as well as those risks and uncertainties discussed or identified in the Company’s public filings with the French Autorité des marchés financiers (“AMF”), including those listed in Section 2.1 “Main Risks and Uncertainties” of the Company’s 2019 Universal Registration Document filed with the AMF on May 27, 2020 under n° D.20-0503, which is available on GENFIT’s website (www.genfit.com) and on the website of the AMF (www.amf-france.org) and public filings and reports filed with the U.S. Securities and Exchange Commission (“SEC”), including the Company’s 20-F dated May 27, 2020. In addition, even if the Company’s results, performance, financial condition and liquidity, and the development of the industry in which it operates are consistent with such forward-looking statements, they may not be predictive of results or developments in future periods. These forward-looking statements speak only as of the date of publication of this document. Other than as required by applicable law, the Company does not undertake any obligation to update or revise any forward-looking information or statements, whether as a result of new information, future events or otherwise.CONTACTGENFIT | InvestorsNaomi EICHENBAUM – Investor Relations | Tel: +1 (617) 714 5252 | firstname.lastname@example.org
PRESS RELATIONS | MediaHélène LAVIN – Press relations | Tel: +333 2016 4000 | email@example.com
AttachmentGENFIT: Enhances Board of Directors with Two Strategic Appointments
Second Front Systems Raises $6 Million to Provide Immediate Impact to National Security, led by ARTIS Ventures
San Francisco, CA, July 07, 2020 (GLOBE NEWSWIRE) — Second Front Systems, a software company working to disrupt the traditional aerospace and defense industry by acting as a beachhead for cutting-edge startups, today announced an oversubscribed $6 million in seed funding led by ARTIS Ventures. Additional investors include Kleiner Perkins, 8VC, Gula Tech Adventures, and Abstract Ventures. The venture funding will be used to expand the capabilities of Second Front’s software platform, Atlas Fulcrum, which has recently received a major contract award from the General Services Administration (GSA) and the Air Force’s AFWERX. The U.S. military recognizes that commercially driven tech, such as autonomy, cyber, biotech, and AI, has surpassed the defense base in relevance to national security in the 21st century. Acting as a “digital prime,” the Atlas Fulcrum platform empowers the U.S. government to regain control from the traditional defense industry in scouting, vetting, and securely fielding cutting-edge technology at scale.Austin Walne, partner at ARTIS Ventures will join Second Front’s board with General Peter Pace, former Chairman of the Joint Chiefs of Staff, General Stanley McChrystal, former commander of U.S. and international forces in Afghanistan, and Alberto Yepez, co-founder and managing director of ForgePoint Capital.
“The U.S. Military is actively seeking advances in artificial intelligence and synthetic biology. This aligns with ARTIS Ventures’ focus on the convergence of computer science and life science,” said Austin Walne, partner at ARTIS Ventures, whose firm is also an investor in Palantir. “Second Front’s executive team comes with proven military backgrounds, giving them an insider’s perspective on vetting and integrating technologies that will have an immediate impact on national security.”
Second Front was started by former Marine Corps Major Peter Dixon, a scout sniper platoon commander who worked with In-Q-Tel and DARPA to pioneer counter-cartel and counter-insurgency technologies, including early adoption of Palantir, at the State Department and Pentagon, and retired Marine Corps Colonel Mark Butler, a fighter and test pilot who helped form the Marines’ arm of Cyber Command.
“I came back from combat deployments in Iraq and Afghanistan where my men and I were hamstrung by outdated technology that negated what should have been an advantage against insurgent adversaries,” said Second Front CEO Peter Dixon. “Subsequently, at the Pentagon, I watched as billions of dollars were awarded to traditional defense companies, many of whom were unable to deliver usable technology to front-line troops. This venture financing and initial partnerships gives Second Front the velocity to build a new type of ‘lean systems integrator’ that can harness the innovations of the American entrepreneurial ecosystem where the traditional defense firms have failed.” Biotech and the Military
As the U.S. military looks to reshape the national security and innovation base to respond to pandemics and embrace evolving technologies such as synthetic biology, biotech has become a crucial focus area for the government.
As stated by Dr. Will Roper, Assistant Secretary of the Air Force for Acquisition, Technology and Logistics in Breaking Defense, “There are so many breakthroughs that are happening. We don’t typically think about biology as a core competency in the Air Force, but biology teaches us a ton.”
Second Front Systems is a public benefit corporation operating in a new class of venture-backed defense companies that includes Palantir, Anduril, and Rebellion Defense.
About Second Front Systems
Second Front Systems is a veteran-owned small business that builds software so U.S. and allied governments can harness disruptive technology from venture capital-backed, commercially proven companies. For more information visit https://secondfront.com/.
About ARTIS Ventures
ARTIS Ventures (AV) partners with entrepreneurs who are driven to impact the world by reshaping and reinventing industries. The team supports its portfolio companies through their entire life-cycle, from initial venture investment to public offering and beyond. As an early leader in the emerging TechBio sector, ARTIS Ventures funds companies at the intersection of computer science and life science, applying engineering principles and data-enabled discovery to the healthcare space. Notable companies the firm has backed include YouTube, Modern Meadow, Nimble Storage, StemCentrx, Palantir, IDbyDNA, Versa Networks, Cohesity, Locus Biosciences, Eko, Excision BioTherapeutics, Aether, Unnatural Products, Inc., and more. For more information visit www.av.co or email firstname.lastname@example.org.
DIAGNOS Announces that its Client in California, the Chaparral Medical Group of Clinics, is Reopening the Screening Services for Diabetic Retinopathy after the COVID-19 Shutdown
BROSSARD, Quebec, July 07, 2020 (GLOBE NEWSWIRE) — Diagnos Inc. (“DIAGNOS” or the “Corporation”) (TSX Venture: ADK) (OTCQB: DGNOF), a leader in early detection of critical health issues using advanced Artificial Intelligence (AI), is pleased to announce that its client, Chaparral Medical Group (“Chaparral”), is reopening amid additional safety extra measures being implemented to address the COVID-19 situation.
Dr. Prasad Jeereddi, MD, Diabetes Specialist, President, and Medical Director of Chaparral stated: “The remote screenings are conducted using a telemedicine application which temporarily replaces the requirement for patients to be seen in person by a specialist. It only takes 5 minutes to perform the screening test. It prevents the need for the diabetic patient to get their eyes tested in a different location. Chaparral operates 33 clinics across the state of California. Diabetic patients are vulnerable to COVID-19 and the convenience of the test in our clinic reduces the risk for COVID-19 exposure.”Telemedicine refers to the practice of caring for patients remotely when the provider and patient are not physically present with each other.Mr. Yves-Stephane Couture, vice-president of sales at DIAGNOS added: “We are pleased to provide extra service at the point of care (POC) for Chaparral’s patients. While the patient is in the clinic, it’s an excellent opportunity to check their eyes for diabetic retinopathy. Diabetes is the most common cause of vision impairment and blindness among working-age adults in the United States as per the US Centers for Disease Control and Prevention.”
About Chaparral Medical Group
Chaparral Medical Group is a multi-specialty healthcare group serving the communities of Claremont, La Verne, San Dimas, Fontana, Pomona, Rancho Cucamonga, Upland, Chino Hills and Diamond Bar in Southern California. Over 20 primary care physicians serve as the group’s clinical core, and work together with their medical and surgical specialists to provide outstanding care to the patient population of Southern California. They have been serving the community since 1978 and their unwavering commitment to patient care and physician work satisfaction are what have driven them to become the most trusted and relied-upon group of physicians in their area.
DIAGNOS is a publicly-traded Canadian corporation with a mission of early detection of critical health issues through the use of its Artificial Intelligence (“AI”) tool CARA (Computer Assisted Retina Analysis). CARA is a tele-ophthalmology platform that integrates with existing equipment (hardware and software) and processes at the point of care. CARA’s Artificial Intelligence image enhancement algorithms make standard retinal images sharper, clearer and easier to read. CARA is accessible securely over the internet and is compatible with all recognized image formats and brands of fundus cameras and is EMR compatible. CARA is a cost-effective tool for screening large numbers of patients in real-time. CARA complies with local regulations, is FDA cleared for commercialization in the United States of America is Health Canada licensed for commercialization in Canada and is CE marking compliant in Europe.Additional information is available at www.diagnos.com and www.sedar.comThis news release contains forward-looking information. There can be no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in these statements. DIAGNOS disclaims any intention or obligation to publically update or revise any forward-looking information, whether as a result of new information, future events or otherwise. The forward-looking information contained in this news release is expressly qualified by this cautionary statement.Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.For further information, please contact: Mr. André Larente, President
Tel: 450-678-8882 ext. 224
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