Conversion Labs Reports Record Third Quarter 2019 Revenue

NEW YORK, Oct. 10, 2019 (GLOBE NEWSWIRE) — Conversion Labs, Inc. (CVLB) (“Conversion Labs” or “Company”), an e-commerce and telemedicine company focused on creating and scaling proprietary health and wellness brands, today announced its unaudited financial results for the third fiscal quarter of 2019.
Conversion Labs and its majority owned SaaS subsidiary, LegalSimpli Software LLC (“LegalSimpli”), collectively achieved record gross revenues of $3.55 Million in the third quarter, representing growth of 42.2%, compared to the same period one year ago. LegalSimpli’s gross revenue grew to $760,000, which is a 192.3% increase from $260,000 reported in the first quarter of 2019, or the period six months prior.The Company anticipates continued revenue growth from all business units and from the launch of its telemedicine brands this quarter.“We’re very happy with the entire company’s performance in the third quarter,” stated Stefan Galluppi, CTO and COO of Conversion Labs, Inc. “Many of the investments we made in human capital and technology over the past 12 months are beginning to bear fruit and contribute meaningfully to revenue growth. With the addition of two prescription drug brands to our portfolio this quarter, I expect revenue and customer growth to remain strong over the coming 12 months.”About Conversion LabsForward-Looking Statements
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