Business
Everyday People Financial Reports Strong Financial Results for the Three and Six Months Ended June 30, 2023
Revenue of $10.8 million for the three months ended June 30, 2023, up 125% as compared to $4.8 mi...
About this update from Everyday People Financial Inc
[{"type":"text","content":"Everyday People Financial Reports Strong Financial Results for the Three and Six Months Ended June 30, 2023Revenue of $10.8 million for the three months ended June 30, 2023, up 125% as compared to $4.8 million for the same period in 2022Revenue of $18.8 million for the six months ended June 30, 2023, up 102% as compared to $9.3 million for the same period in 2022Positive Adjusted EBITDA, net of finance costs for the three and six months ended June 30, 2023Edmonton, Alberta--(Newsfile Corp. - August 14, 2023) - Everyday People Financial Corp. (TSXV: EPF) (\"Everyday People\" or the \"Company\"), a Canadian-based revenue cycle management consolidator and financial service provider, is pleased to announce its consolidated financial and operational results for the three and six months ended June 30, 2023. All figures are in Canadian dollars unless otherwise stated. \"We are excited to report strong financial results in our second quarter, which was a direct result of our dedication to our new strategy going forward.\" said Barret Reykdal, CEO of Everyday People. \"We will continue to expand our revenue cycle management business line through accretive acquisitions in Canada and beyond, to drive profitability and build shareholder value.\" Key Financial Highlights for the Three Months Ended June 30, 2023Revenue of $10.8 million for the three months ended June 30, 2023, up 125% compared to $4.8 million for the same period in 2022.Pro-forma revenue of $20.6 million for the three months ended June 30, 2023, assuming Pastdue Credit Solutions Limited (\"PDC\") and Zinc Group Limited (\"Zinc\") were acquired on April 1, 2023. Refer to the \"Reconciliation of Non-IFRS Financial Measures\" disclosed in the Company's \"Management's Discussion and Analysis\" report.Adjusted EBITDA of $1.0 million1 for the three months ended June 30, 2023, compared to adjusted EBITDA loss of $0.6 million for the same period in 2022, reflecting a $1.6 million (267%) increase compared to the same period in 2022. Refer to \"Reconciliation of Non-IFRS Financial Measures\" disclosed in the Company's \"Management's Discussion and Analysis\" report.Positive adjusted EBITDA, net of finance costs of $0.3 million1 for the three months ended June 30, 2023, compared to adjusted EBITDA (loss) of $0.9 million for the same period in 2022, reflecting a $1.2 million (133%) incre...