TRxADE HEALTH Reports Third Quarter Gross Margin of 58% and Q3 2022 Financial Results Continues Nationwide Expansion of Breakthrough Digital Healthcare Services IT Platform TAMPA, FL

HEALTH Reports Third Quarter Gross Margin of 58% and Q3 2022 Financial Results

Nationwide Expansion of Breakthrough Digital Healthcare Services IT Platform

FL, November 7, 2022 - TRxADE HEALTH, INC.

(NASDAQ: MEDS)("TRxADE" or the "Company"), a health services IT company focused on digitalizing the retail pharmacy

experience by optimizing drug procurement, the prescription journey and patient engagement in the U.S., today announced its financial

results for the 2022 third quarter (Q3) ended September 30, 2022.

Quarter 2022 and Subsequent Operational Highlights

continued to expand the TRxADE drug procurement marketplace nationwide, adding 291 new registered members in Q3 2022 and 1,149 new registered

members during the first nine months of 2022, bringing the total registered members to approximately 14,100+ at September 30, 2022.

announced in September 2022 that Bonum Health, its Digital Healthcare business subsidiary, had signed a Telemedicine Services Distribution

agreement with Wakefern Food Corp., to deploy telemedicine services throughout ShopRite pharmacy-led locations in New Jersey, New York,

Pennsylvania, Connecticut, and Maryland.

Health will provide affordable telemedicine services and prescription discount savings to ShopRite customers by offering Bonum Health's

signature Mobile Health Services application and prescriber program, staffed by over 650+ Board-Certified Medical Providers. The service,

which allows customers to connect virtually with doctors and healthcare providers, to get the care they need, also provides access to

prescription discount savings through the innovative Bonum Health telemedicine application, which can be downloaded from both Google

Play and Apple App stores.

October 2022, TRxADE announced that Bonum Health had entered into a strategic services distribution agreement with multiple insurance

brokerage firms to offer access to telemedicine services for small to medium employer groups.

Ajjarapu, commented, "These first nine months of 2022 have been an exciting and challenging time for TRxADE. We continue to focus

the Company's strategic plans and partnerships working towards creating sustainable value for our stockholders. I am pleased with

the growth we have experienced in our TRxADE platform. We continue to achieve key milestones in our internal roadmap with a focus on

innovation and development through our various complementary growth opportunities."

Quarter 2022 Financial Summary

revenues for the third quarter of 2022 compared to the third quarter of 2021, decreased 6% to $2.4 million, compared to $2.6 million,

respectively. The consolidated decrease in revenue, is driven by decreases in revenue attributed to our TRxADE Prime and Community Specialty

Pharmacy subsidiaries. The revenues generated by the TRxADE Platform in the three and nine months ended September 30, 2022, increased

6% and 10%, respectively, as compared to the same periods in 2021.

profit increased to $1.4 million in the third quarter of 2022 compared to $1.3 million for the same period in 2021. As a percent of revenue,

gross profit increased to 58% in the third quarter of 2022, as compared to 50% in the third quarter of 2021. The increase in gross profit

was primarily attributable to increased revenue generated by the TRxADE Platform that does not have cost of goods expense and the improved

gross margins generated by TRxADE Prime in the third quarter of 2022.

expenses in the third quarter of 2022 were $1.8 million, compared to $2.6 million in the same quarter last year.

loss in the third quarter of 2022 was ($0.5) million, or ($0.06) per basic and diluted share outstanding, compared to a net loss of ($1.3)

million, or ($0.16) per basic and diluted share outstanding, in the same quarter last year.

EBITDA, a non-GAAP financial measure was ($0.4) million for the third quarter of 2022, compared to $0.7 million in the same quarter

last year. See "Use of Non-GAAP Financial Information" below, and the reconciliation of Adjusted EBITDA to GAAP set forth

at the end of this release.

metrics related to our key performance are as follows:

the nine-month period ended September 30, 2022, the TRxADE Platform increased its registered users by 1,149. For the three-month period

ended September 30, 2022, new registrations were 291, compared to 195 for the same period in 2021. Total registered users increased 9%

to approximately 14,100+ from 12,962, as of September 30, 2022 and 2021, respectively.

table below summarizes the key metrics that management evaluated in relation to the activity on the TRxADE Platform for the three-month

period ended September 30, 2022 compared to the same period in 2021:

the three-month period ended September 30, 2022, compared to the same period in 2021, Integra Pharma Solutions, LLC ("TRxADE Prime")

processed sales volume decreased 28% and units sold decreased 35 %.

Trxade Prime experienced a decrease in top line revenue, there was an improvement in gross margin. Gross margin improved from (6%) to

3% for the three-month periods ended September 30, 2021 and 2022, respectively. This improvement in gross margin for Trxade Prime contributed

to the improved consolidated gross margin of 58% for the three months ended September 2022.

the third quarter, the Company executed on several initiatives to drive down overhead expense and to improve gross margin. In addition

to the improved gross margin referenced above, the initiatives effectively reduced overhead expense 68% for the three-month period ended

September 2022, as compared to the same period in 2021 (less $630,000 of bad debt expense in 2021). Among these projects to reduce overhead

expense was the completion of additional automation software as well as administrative and warehouse staffing adjustments. As part of

the initiative to improve gross margin, the Company is focused on executing improved vendor pricing and vendor partnerships.

Company is committed to continued efforts designed to build a strong foundation for Trxade Prime and further growth.

will host a conference call on Monday, November 7, 2022, at 5:00 p.m. Eastern time to discuss TRxADE's third quarter 2022 financial

results. The call will conclude with Q&A from participants. To participate, please use the following information:

2022 Conference Call and Webcast

Monday, November 7, 2022

5:00 p.m. Eastern time

Dial-in: 1-844-825-9789

Dial-in: 1-412-317-5180

dial in at least 10 minutes before the start of the call to ensure timely participation.

playback of the call will be available through December 7, 2022. To listen, call 1-844-512-2921 within the United States or 1-412-317-6671

when calling internationally and enter replay pin number 10172776. A webcast will also be available for 30 days on the IR section of

the Trxade Health website or by clicking the webcast link above.

HEALTH, Inc. (NASDAQ: MEDS) is a health services IT company focused on digitalizing the retail pharmacy experience by optimizing drug

procurement, the prescription journey and patient engagement in the U.S. The Company operates the TRxADE drug procurement marketplace

serving a total of approximately 14,000+ members nationwide, fostering price transparency and under the Bonum Health brand, offering

patient centric telehealth services and tele vet services. For more information on TRxADE Health, please visit the Company's

IR website at investors.trxadehealth.com.

of Non-GAAP Financial Information

addition to our results calculated under generally accepted accounting principles in the United States ("GAAP"), in this

earnings release, we also present EBITDA and Adjusted EBITDA which are "non-GAAP financial measures" presented as supplemental

measures of the Company's performance. They are not presented in accordance with GAAP. EBITDA represents net income (loss) attributable

to TRxADE HEALTH, Inc. before interest, taxes, depreciation and amortization. Adjusted EBITDA is defined as EBITDA before stock-based

compensation expense, bad debt recovery, bad debt write-off, gain on disposal of asset, litigation expenses, loss (gain) on inventory

investment and loss (gain) on impairment of goodwill. EBITDA and Adjusted EBITDA are presented because we believe they provide additional

useful information to investors due to the various noncash items during the period. EBITDA and Adjusted EBITDA are also frequently used

by analysts, investors and other interested parties to evaluate companies in our industry. We believe these non-GAAP financial measures

are useful to investors both because (1) they allow for greater transparency with respect to key metrics used by management in its financial

and operational decision-making and (2) they are used by our institutional investors and the analyst community to help them analyze the

health of our business. EBITDA and Adjusted EBITDA have limitations as analytical tools, and you should not consider them in isolation,

or as a substitute for analysis of our operating results as reported under GAAP. Some of these limitations are: EBITDA and Adjusted EBITDA

do not reflect cash expenditures, future requirements for capital expenditures, or contractual commitments; EBITDA and Adjusted EBITDA

do not reflect changes in, or cash requirements for, working capital needs; and EBITDA and Adjusted EBITDA do not reflect the significant

interest expense, or the cash requirements necessary to service interest or principal payments, on debt or cash income tax payments.

Although depreciation and amortization are noncash charges, the assets being depreciated and amortized will often have to be replaced

in the future, and EBITDA and Adjusted EBITDA do not reflect any cash requirements for such replacements. Additionally, other companies

in our industry may calculate EBITDA and Adjusted EBITDA differently than TRxADE HEALTH, Inc. does, limiting its usefulness as a comparative

measure. EBITDA and Adjusted EBITDA are not recognized in accordance with GAAP, are unaudited, and have limitations as analytical tools,

and you should not consider them in isolation, or as substitutes for analysis of the Company's results as reported under GAAP.

The Company's presentation of these measures should not be construed as an inference that future results will be unaffected by

unusual or nonrecurring items. We compensate for these limitations by providing a reconciliation of each of these non-GAAP measures to

the most comparable GAAP measure. We encourage investors and others to review our business, results of operations, and financial information

in their entirety, not to rely on any single financial measure, and to view these non-GAAP measures in conjunction with the most directly

comparable GAAP financial measure. For more information on these non-GAAP financial measures, please see the section titled "Reconciliation

of Net Income (Loss) attributable to TRxADE HEALTH, INC., to Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)