Gix Internet Reports 166% Year-Over-Year Revenue Growth to Approximately $43.4M in H1 2022

Medigus SA

Medigus’ Financial Results for the First Half of 2022 Will Include, for the First Time, the Consolidation of Gix Internet’s Financial Statements

Tel Aviv, Israel, August 30, 2022 (GLOBE NEWSWIRE) — Medigus Ltd. (Nasdaq: MDGS), a technology company specializing in advanced medical solutions, innovative internet technologies, and electric vehicle and charging solutions, today announced that its subsidiary Gix Internet, (“Gix”), in which Medigus holds 42.69% of its outstanding shares (49.11% on a fully diluted basis) (TASE: GIX), a global marketing technology (MarTech) solutions company for performance-based online marketing, published its financial results for the first half ended June 30, 2022.

Gix’s reported revenue for the first half of 2022 was approx. $43.4 million (NIS 141.8 million), a 166% increase from revenue of c. $16.3 million (NIS 53.3 million) in the same period of 2021.

Gix’s operating profit for the six months ended June 30, 2022 was approx. $0.6 million (NIS 2.2 million), compared to an operating loss of ca. $0.37 million (NIS 1.2 million) in the same period of 2021.

“Increasing our stake in Gix has been one of our primary goals over the past year, primarily due to our confidence in Gix’s ability to grow. We are delighted with Gix’s financial results and believe in its future and continued growth,” commented Liron Carmel. , CEO of Medigus.

Medigus is expected to consolidate Gix’s financial results (as of February 28, 2022) in its financial reports for the first half of 2022.

About Medigus

Based in Israel, Medigus Ltd. (Nasdaq: MDGS) is a technology company focused on innovative growth partnerships, primarily in advanced medical solutions, digital commerce electric vehicle markets, image-based platform, energy efficiency technology and security systems for commercial drones. Medigus’ in the field of medical solutions include ownership of Polyrizon Ltd. The Company’s subsidiaries in the image-based platform include ScoutCam Inc. The Company’s subsidiaries in digital commerce include Gix Internet Ltd., Jeffs’ Brands Ltd. and Eventer Technologies Ltd. vehicle market, Charging Robotics Ltd. and Revoltz Ltd. are also part of the Company’s portfolio of technology solution providers. The Company’s subsidiary in the energy sector includes Laminera Ltd. The Company’s subsidiary in the drone sectors includes Parazero technologies Ltd. To learn more about Medigus’ advanced technologies, please visit http://www.medigus.com/.

Caution Regarding Forward-Looking Statements

This press release may contain statements that are “forward-looking statements,” which are based on Medigus management’s current estimates, assumptions and expectations and knowledge of the relevant market. The Company has attempted, where possible, to identify such information and statements by using words such as “anticipate”, “believe”, “intend”, “estimate”, “expect”, “have the ‘intent to’, ‘may’, ‘plan’, ‘predict’, ‘project’, ‘target’, ‘potential’, ‘shall’, ‘should’, ‘could’, ‘should’, ‘continue’, ‘contemplate’ and other similar expressions and their derivatives in connection with any discussion of future events, trends or prospects or of future operating or financial performance, although not all forward-looking statements contain these identifying words. These forward-looking statements represent Medigus’ expectations or beliefs regarding future events, and it is possible that the results described in this press release will not be achieved. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the future results of Medigus’ or Gix’s business to differ materially from the content and implications of such statements. . Other risk factors affecting Medigus are discussed in detail in Medigus’ filings with the Securities and Exchange Commission. Forward-looking statements speak only as of the date they are made, and Medigus undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future developments or otherwise. . Neither Medigus nor its shareholders, officers and employees shall be responsible for any action and the results of any action taken by any person based on the information contained herein, including, without limitation, buying or selling Medigus titles.

Company Contact:
Tali Dinar
Financial director
+972-8-6466-880
[email protected]

Contact with Investor Relations:
David Gentry
Companies RedChip Inc.
1-800-RED-CHIP (733-2447)
Or 407-491-4498
[email protected]

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