{"id":396356,"date":"2020-12-09T08:34:20","date_gmt":"2020-12-09T13:34:20","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=396356"},"modified":"2020-12-09T08:34:20","modified_gmt":"2020-12-09T13:34:20","slug":"conversion-labs-approved-for-nasdaq-capital-market-listing-trading-to-commence-tomorrow-december-10-2020-under-the-symbol-cvlb","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/conversion-labs-approved-for-nasdaq-capital-market-listing-trading-to-commence-tomorrow-december-10-2020-under-the-symbol-cvlb\/","title":{"rendered":"Conversion Labs Approved for Nasdaq Capital Market Listing; Trading to Commence Tomorrow, December 10, 2020, Under the Symbol, CVLB"},"content":{"rendered":"<div class=\"mw_release\">\n<p align=\"justify\">NEW YORK, Dec.  09, 2020  (GLOBE NEWSWIRE) &#8212; <strong><a href=\"https:\/\/www.globenewswire.com\/Tracker?data=6MABWLjxRxgE3oquk1VZlwrhfCIxNhrRE_uCxdVOo0U6VhftwBuUTwHQit-GqhG8EHrJu1R8bBMdYpMGPJoTteH1XQpW4x-d764PUAcaJ1eaTL-92rplyW9rOv6ldLJG0m67tvZC6-IECFg_M9M5_bXVkMHIba50K0rkRQ0omkXEhy96hycRqdPjrAVBt0-uDfieoaDm1uJ1MdrfZkk38EC1z4wIKJDeQInkyjbSg-eI4nnp7SlHpBGC2xJ5OhDcaHG0Wm-dnHWEatHYFvSDKQ==\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">Conversion Labs, Inc.<\/a><\/strong>\u00a0(OTCQB: CVLB), a direct-to-consumer telemedicine and wellness company, has received approval to uplist to the Nasdaq Capital Market<sup>\u00ae<\/sup>. The company\u2019s common stock will commence trading on the exchange at the opening of the market tomorrow, December 10, 2020, under the same symbol, CVLB.<\/p>\n<p>\u201cAs the leading securities exchange for emerging growth stocks, we anticipate a Nasdaq listing will elevate our corporate profile and increase awareness of our growth story across the financial community,\u201d stated Conversion Labs CEO, Justin Schreiber. \u201cWe expect this to support greater liquidity, broaden our shareholder base of retail and institutional investors, and attract analyst coverage.\u201d<\/p>\n<p>The Nasdaq listing represents another major milestone for Conversion Labs, which has grown from essentially zero revenue in 2016 to an annualized revenue run-rate of nearly $50 million, with gross margins exceeding 75%.<\/p>\n<p>In addition to Conversion Labs\u2019 rapid topline growth, its annual recurring revenue (ARR) from subscriptions to products and services has reached $22.1 million, up 514% over last year. This growing level of customer retention demonstrates a high level of customer satisfaction and increasing leverage in the company\u2019s business model.<\/p>\n<p>\u201cWe expect sales to continue to accelerate into the new year as we launch additional telemedicine offerings, such as Nava MD\u2122, our <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=j_dv5t8ZwRYZVypNa3yDIcjba443ztKnXzF-0FBTJpS6AlJIlD9Igro4xODAYRRftXZu2JltbXNaEfiuHzLVlyrMn5KHhhLbC4USBl9MH2J6OIqhj-KpfKw2AFytZ2QPuTjQ6vH4dlTCAtWr_hIalQ==\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">recently announced<\/a> first teledermatology and over-the-counter skincare brand with patented and clinically proven formulations,\u201d continued Schreiber. \u201cThe launch of Nava MD will be supported by the upcoming roll out of our new telemedicine platform, Veritas MD\u2122.\u201d<\/p>\n<p>Conversion Labs\u2019 new head of corporate development, Corey Deutsch, who is also the founder of Paradigm Opportunities, a hedge fund that served as one of the lead participants in the company\u2019s recently oversubscribed $16 million private placement, commented: \u201cAs a hands-on investor I try to find opportunities where I believe I can make a strong contribution. I\u2019m excited to join Conversion Labs at this pivotal stage in its development. The team has done a tremendous job building the company into a leading player in the direct-to-consumer telemedicine space.\u201d<\/p>\n<p>\u201cWe expect the enhanced exposure created by this Nasdaq listing to help attract valuable institutional investors,\u201d added Deutsch. \u201cMoreover, the listing affirms the company\u2019s promising future ahead, as we capitalize on the major paradigm shift in the healthcare sector created by the increasing adoption of telehealth.\u201d<\/p>\n<p>\n        <strong>About Nasdaq<\/strong><br \/>\n        <br \/>Nasdaq, Inc. (Nasdaq: NDAQ) is a global technology company serving the capital markets and other industries. Its diverse offering of data, analytics, software and services enables clients to optimize and execute their business vision with confidence. The Nasdaq Stock Market is a trusted pillar of capital markets and innovation, providing U.S. equity markets liquidity, resiliency and transparency that propel investment ideas to fruition. For more about Nasdaq, go to www.nasdaq.com.<\/p>\n<p>\n        <strong>About\u00a0Conversion Labs<\/strong><br \/>\n        <br \/>Conversion Labs, Inc. is a telemedicine company with a portfolio of online direct-to-consumer brands. The company\u2019s brands combine virtual medical treatment with prescription medications and unique over-the-counter products. Its network of licensed physicians offers telemedicine services and direct-to-consumer pharmacy to consumers across the U.S. To learn more, visit\u00a0<a href=\"https:\/\/www.globenewswire.com\/Tracker?data=6MABWLjxRxgE3oquk1VZl4ZvdzsNoIcgs6OLB3f3nVZnQ-rS2j4O_zZ-5XJ1S7f0vAmZlbbeLr1AyjR6A6Ay6Mfni4DjSbNQbFCkUopd_zDuT82xytBFiBm4TJbXlzGW8P63wXdAD2nNdrBVX2Q0y9w8orw7Nj15qSscqPxg1ZMpz_sEgvLL2twe0VijtTxY2vn2qXtLEbjiv4XR3YwrJVHNzv5nE0ZguQcBQwTmd29j5J2d5sNXcMXtng_QJFYh\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">Conversionlabs.com<\/a>.<\/p>\n<p>\n        <strong>Annual Recurring Revenue<\/strong><br \/>\n        <br \/>Conversion Labs calculates annual recurring revenue (ARR) by multiplying by 12 the monthly sum of revenue attributed exclusively to automatic subscription sales from customers that are engaged in the company\u2019s rebill structure for the brands of Shapiro MD, Rex MD and PDFSimpli. In the company\u2019s calculation of ARR, it does not consider sales from customers that repurchase its products themselves in the company\u2019s checkout pages, Amazon Marketplace or through assistance of the company\u2019s customer service representatives, since those sales have a marginal advertising\/marketing expense associated with the respective sale. The company also does not consider the revenue attributed to the initial purchase upon acquisition of the respective customer.<\/p>\n<p>\n        <strong>Important Cautions Regarding Forward-Looking Statements<\/strong><br \/>\n        <br \/>This news release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, as amended, regarding, among other things our plans, strategies and prospects &#8212; both business and financial. Although we believe that our plans, intentions and expectations reflected in or suggested by these forward-looking statements are reasonable, we cannot assure you that we will achieve or realize these plans, intentions or expectations. Forward-looking statements are inherently subject to risks, uncertainties and assumptions. Many of the forward-looking statements contained in this news release may be identified by the use of forward-looking words such as &#8220;believe,&#8221; &#8220;expect,&#8221; &#8220;anticipate,&#8221; &#8220;should,&#8221; &#8220;planned,&#8221; &#8220;will,&#8221; &#8220;may,&#8221; &#8220;intend,&#8221; &#8220;estimated,&#8221; and &#8220;potential,&#8221; among others. Important factors that could cause actual results to differ materially from the forward-looking statements we make in this news release include market conditions and those set forth in reports or documents that we file from time to time with the United States Securities and Exchange Commission. All forward-looking statements attributable to Conversion Labs, Inc. or a person acting on its behalf are expressly qualified in their entirety by this cautionary language.<\/p>\n<p>\n        <strong>Company Contact<\/strong><br \/>\n        <br \/>Conversion Labs<br \/>Juan Manuel Pi\u00f1eiro Dagnery<br \/>CFO<br \/><a href=\"https:\/\/www.globenewswire.com\/Tracker?data=rzk1VxO2tG_vh99XivfcxtXsSQW549KNsd6C5tyzRYjJ8_7f1-I7Zgqkte9zrRNYfOzorIoQfGBIFPsHBjT3GB7ctxJmNIwLxIj3hJBCLpY=\" rel=\"nofollow noopener noreferrer\" target=\"_blank\"><u>Email Contact<\/u><\/a><\/p>\n<p>\n        <strong>Media and Investor Relations Contact<\/strong><br \/>\n        <br \/>Ron Both or Grant Stude<br \/>CMA Investor Relations<br \/>Tel (949) 432-7566<br \/><a href=\"https:\/\/www.globenewswire.com\/Tracker?data=rzk1VxO2tG_vh99Xivfcxm6yTtRxJAH0t6xeJYEl0c3UXQLTabK6YJfSAC7T5VXgLajRnGXg4H35TGWOZIg9BEaDxivahHxe_T8lb2Y6xGY=\" rel=\"nofollow noopener noreferrer\" target=\"_blank\"><u>Email Contact<\/u><\/a><\/p>\n<\/p>\n<p>      <img loading=\"lazy\" decoding=\"async\" class=\"__GNW8366DE3E__IMG\" src=\"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODA5OTQ2NyMzODYzNzg2IzIwMTkzNTc=\" width=\"1\" height=\"1\" \/><br \/>\n      <br \/>\n      <img loading=\"lazy\" decoding=\"async\" class=\"__GNW8366DE3E__IMG\" src=\"https:\/\/ml.globenewswire.com\/release\/track\/ac6702d1-74b6-4075-b0df-504650bdff23\" width=\"1\" height=\"1\" \/>\n    <\/div>\n<div class=\"mw_contactinfo\"><\/div>\n","protected":false},"excerpt":{"rendered":"<p>NEW YORK, Dec. 09, 2020 (GLOBE NEWSWIRE) &#8212; Conversion Labs, Inc.\u00a0(OTCQB: CVLB), a direct-to-consumer telemedicine and wellness company, has received approval to uplist to the Nasdaq Capital Market\u00ae. The company\u2019s common stock will commence trading on the exchange at the opening of the market tomorrow, December 10, 2020, under the same symbol, CVLB. \u201cAs the leading securities exchange for emerging growth stocks, we anticipate a Nasdaq listing will elevate our corporate profile and increase awareness of our growth story across the financial community,\u201d stated Conversion Labs CEO, Justin Schreiber. \u201cWe expect this to support greater liquidity, broaden our shareholder base of retail and institutional investors, and attract analyst coverage.\u201d The Nasdaq listing represents another major milestone for Conversion Labs, which &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/conversion-labs-approved-for-nasdaq-capital-market-listing-trading-to-commence-tomorrow-december-10-2020-under-the-symbol-cvlb\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Conversion Labs Approved for Nasdaq Capital Market Listing; Trading to Commence Tomorrow, December 10, 2020, Under the Symbol, CVLB&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-396356","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.5 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Conversion Labs Approved for Nasdaq Capital Market Listing; Trading to Commence Tomorrow, December 10, 2020, Under the Symbol, CVLB - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/conversion-labs-approved-for-nasdaq-capital-market-listing-trading-to-commence-tomorrow-december-10-2020-under-the-symbol-cvlb\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Conversion Labs Approved for Nasdaq Capital Market Listing; Trading to Commence Tomorrow, December 10, 2020, Under the Symbol, CVLB - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"NEW YORK, Dec. 09, 2020 (GLOBE NEWSWIRE) &#8212; Conversion Labs, Inc.\u00a0(OTCQB: CVLB), a direct-to-consumer telemedicine and wellness company, has received approval to uplist to the Nasdaq Capital Market\u00ae. The company\u2019s common stock will commence trading on the exchange at the opening of the market tomorrow, December 10, 2020, under the same symbol, CVLB. \u201cAs the leading securities exchange for emerging growth stocks, we anticipate a Nasdaq listing will elevate our corporate profile and increase awareness of our growth story across the financial community,\u201d stated Conversion Labs CEO, Justin Schreiber. \u201cWe expect this to support greater liquidity, broaden our shareholder base of retail and institutional investors, and attract analyst coverage.\u201d The Nasdaq listing represents another major milestone for Conversion Labs, which &hellip; Continue reading &quot;Conversion Labs Approved for Nasdaq Capital Market Listing; Trading to Commence Tomorrow, December 10, 2020, Under the Symbol, CVLB&quot;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.marketnewsdesk.com\/index.php\/conversion-labs-approved-for-nasdaq-capital-market-listing-trading-to-commence-tomorrow-december-10-2020-under-the-symbol-cvlb\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Newsdesk\" \/>\n<meta property=\"article:published_time\" content=\"2020-12-09T13:34:20+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODA5OTQ2NyMzODYzNzg2IzIwMTkzNTc=\" \/>\n<meta name=\"author\" content=\"Newsdesk\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Newsdesk\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"4 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/conversion-labs-approved-for-nasdaq-capital-market-listing-trading-to-commence-tomorrow-december-10-2020-under-the-symbol-cvlb\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/conversion-labs-approved-for-nasdaq-capital-market-listing-trading-to-commence-tomorrow-december-10-2020-under-the-symbol-cvlb\\\/\"},\"author\":{\"name\":\"Newsdesk\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"headline\":\"Conversion Labs Approved for Nasdaq Capital Market Listing; 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Trading to Commence Tomorrow, December 10, 2020, Under the Symbol, CVLB - Market Newsdesk","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.marketnewsdesk.com\/index.php\/conversion-labs-approved-for-nasdaq-capital-market-listing-trading-to-commence-tomorrow-december-10-2020-under-the-symbol-cvlb\/","og_locale":"en_US","og_type":"article","og_title":"Conversion Labs Approved for Nasdaq Capital Market Listing; Trading to Commence Tomorrow, December 10, 2020, Under the Symbol, CVLB - Market Newsdesk","og_description":"NEW YORK, Dec. 09, 2020 (GLOBE NEWSWIRE) &#8212; Conversion Labs, Inc.\u00a0(OTCQB: CVLB), a direct-to-consumer telemedicine and wellness company, has received approval to uplist to the Nasdaq Capital Market\u00ae. The company\u2019s common stock will commence trading on the exchange at the opening of the market tomorrow, December 10, 2020, under the same symbol, CVLB. \u201cAs the leading securities exchange for emerging growth stocks, we anticipate a Nasdaq listing will elevate our corporate profile and increase awareness of our growth story across the financial community,\u201d stated Conversion Labs CEO, Justin Schreiber. \u201cWe expect this to support greater liquidity, broaden our shareholder base of retail and institutional investors, and attract analyst coverage.\u201d The Nasdaq listing represents another major milestone for Conversion Labs, which &hellip; Continue reading \"Conversion Labs Approved for Nasdaq Capital Market Listing; Trading to Commence Tomorrow, December 10, 2020, Under the Symbol, CVLB\"","og_url":"https:\/\/www.marketnewsdesk.com\/index.php\/conversion-labs-approved-for-nasdaq-capital-market-listing-trading-to-commence-tomorrow-december-10-2020-under-the-symbol-cvlb\/","og_site_name":"Market Newsdesk","article_published_time":"2020-12-09T13:34:20+00:00","og_image":[{"url":"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODA5OTQ2NyMzODYzNzg2IzIwMTkzNTc=","type":"","width":"","height":""}],"author":"Newsdesk","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Newsdesk","Est. reading time":"4 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/conversion-labs-approved-for-nasdaq-capital-market-listing-trading-to-commence-tomorrow-december-10-2020-under-the-symbol-cvlb\/#article","isPartOf":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/conversion-labs-approved-for-nasdaq-capital-market-listing-trading-to-commence-tomorrow-december-10-2020-under-the-symbol-cvlb\/"},"author":{"name":"Newsdesk","@id":"https:\/\/www.marketnewsdesk.com\/#\/schema\/person\/482f27a394d4fda80ecb5499e519d979"},"headline":"Conversion Labs Approved for Nasdaq Capital Market Listing; 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