IMAC Holdings reported $5 million in revenue in the second quarter and sequential quarterly growth at its retail clinics at Walmart locations.
Four things to know:
1. Second-quarter revenue grew 45 percent year over year to $5 million.
2. Patient visits to IMAC clinics were down 5.1 percent from the same period last year. Same-store visits increased 0.9 percent.
3. Sequential quarter visits to The BackSpace, a retail chiropractic space at select Walmart stores, grew 207 percent.
4. CEO Jeffrey Ervin said: "We are encouraged by the consumer adoption of The BackSpace spinal health and wellness services. The BackSpace experienced over 200 percent sequential quarter growth, and over 1,000 percent same-store growth from the comparable quarter. We expect The BackSpace to have a greater impact on total revenue in the second half of the year based on continued growth and a 10 percent price increase for chiropractic memberships. Additionally, we believe the recent addition of stretching services expands our universe of prospective patients."