Neovasc Announces Q4 And FY22 Financial Results And Provides Corporate Update; FY22 Revenue $$3.8M Vs $2.55M YoY; FY22 EPS $(15.07) Vs $(9.88) YoY

Financial Results for the Fiscal Year Ended December 31, 2022

Revenues increased by 49% to $3,805,017 for the year ended December 31, 2022, compared to revenues of $2,547,406 for the same period in 2021.

The cost of goods sold for the year ended December 31, 2022 was $773,834 compared to $555,697 for the same period in 2021. The overall gross margin for the year ended December 31, 2022 was 80%, compared to 78% gross margin for the same period in 2021.

Total expenses for the year ended December 31, 2022 were $37,177,906 compared to $33,101,250 for 2021, representing an increase of $4,076,656.

The operating losses and comprehensive losses for the year ended December 31, 2022 were $34,146,723 and $41,421,356, respectively, or $15.07 basic and diluted loss per share, as compared with $31,109,541 operating losses and $25,158,376 comprehensive losses, or $9.88 basic and diluted loss per common share in the capital of the Company (each, a "Share"), for the same period in 2021.