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The company's revenue increased in Q2 of this year to $13.1 million compared to $10.7 million in the first quarter – still below the $18.3 million reported in Q2 2022.

The company also announced its intentions to seek FDA approval for EndeavorOTC, its over-the-counter product for adults with ADHD.

Medicare Advantage insurtech company Clover Health and virtual care company Hims & Hers Health also reported earnings.

Dr. John B. Halamka, president of Mayo Clinic Platform, discusses AI's "dizzying" evolution, Mayo’s strategy for approaching predictive AI versus generative AI, and its partnership with Google that practices agile development of AI.

The company will use the funds to grow its offerings, including its teletherapy platform, and expand its reach nationally.

The Tennessee-based company has regained compliance with the bid price requirement to remain listed on the NASDAQ.

The company also seeks to sell its U.K. business to third parties, exit the U.S. market and continue trying to sell Meritage Medical Network.

The company reported second-quarter revenue of $18.5 million with a net loss of $28.7 million, alongside operating expenses totaling $42.2 million.

Shawn Ellis, managing partner at Distributed Ventures, tells MobiHealthNews why and how the firm's recent raise will go toward advancing digital health.

The round brings the virtual care company's total raise to $205 million.