Business
LevelJump Announces Q1 2024 Financial Results
Toronto, Ontario--(Newsfile Corp. - August 29, 2024) - LevelJump Healthcare Corp. - (TSXV: JUMP)...
About this update from Leveljump Healthcare Corp.
[{"type":"text","content":"LevelJump Announces Q1 2024 Financial ResultsToronto, Ontario--(Newsfile Corp. - August 29, 2024) - LevelJump Healthcare Corp. - (TSXV: JUMP) (\"LevelJump\" or the \"Company\"), announced today its financial results for the quarter ended March 31, 2024. Financial and Operational HighlightsRevenues from Canadian Teleradiology Services, Inc. (\"CTS\") were $4.1 million in the first quarter of 2024.CTS Year over Year Q1 revenues increased by 46%.2024 Q1 Financial Results for LevelJumpConsolidated net loss of $(501,480) for the first quarter of 2024.Consolidated EBITDA of $97,742 for the first quarter of 2024. Management Comments\"We had another strong quarter of revenue and are now tracking over $16 million annually in revenues,\" said Mitch Geisler CEO. \"Once our Yonge Sheppard location opens, we hope to see revenues to grow to over $20 million annually, and the Company's EBITDA to be healthy and consistently positive.\"Non-IFRS Financial MeasuresThis news release contains financial terms (such as adjusted EBITDA) that are not considered in IFRS. Such financial measures, together with measures prepared in accordance with IFRS, provide useful information to investors and shareholders, as management uses them to evaluate the operating performance of the Company. The Company's determination of these non-IFRS measures may differ from other reporting issuers, and therefore are unlikely to be comparable to similar measures presented by other companies. Further, these non-IFRS measures should not be considered in isolation or as a substitute for measures of performance or cash flows prepared in accordance with IFRS. These financial measures are included because management uses this information to analyze operating performance and liquidity.Adjusted EBITDA & Annual Revenue Run RateManagement believes adjusted EBITDA is a useful supplemental measure to determine the Company's ability to generate cash available for working capital, capital expenditures, debt repayments, interest expense and income taxes.EBITDA refers to net income (loss) determined in accordance with IFRS, before depreciation and amortization, net interest expense (income) and income tax expense (recovery). The Company defines adjusted EBITDA as EBITDA, plus stock-based compensation expense, restructuring, fair value adjustments, listing expense and transaction costs, ...