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LevelJump Announces Q3 2024 Financial Results; Provides Update on Cease Trade Order
Toronto, Ontario--(Newsfile Corp. - December 2, 2024) - LevelJump Healthcare Corp.  (TSXV: J...
About this update from Leveljump Healthcare Corp.
[{"type":"text","content":"LevelJump Announces Q3 2024 Financial Results; Provides Update on Cease Trade OrderToronto, Ontario--(Newsfile Corp. - December 2, 2024) - LevelJump Healthcare Corp. (TSXV: JUMP) (\"LevelJump\" or the \"Company\"), announced today its financial results for the quarter ended September 30, 2024.Q3 Financial and Operational HighlightsRevenues from operations were $4.45 million in the third quarter an increase of 57% compared to the third quarter of 2023.Gross profit from operations was $880,194 in the third quarter.Consolidated net loss in the third quarter of 2024 was $(18,960) compared to a loss of $(1,668,916) in 2023.EBITDA in the third quarter was $704,834.2024 Nine Month Financial Results for LevelJumpRevenues of $12.9 million in the first 9 monthsYear to date consolidated net loss of $(749,839), compared to a net loss of $(2,117,250) in the same period of 2023.Year to date EBITDA of $1,365,030.EBITDA for the first nine months of 2024, per share of $0.014.Management Comments\"The third quarter was quite strong, and we are now tracking over $17 million annually in revenues\", said Mitch Geisler CEO. \"We are working diligently to add modalities to our centres and increase the patient volumes at our new Yonge Sheppard location, which opened in September.\"Update on Cease Trade OrderFurther to its new release of September 3, 2024, the Company advises that its application to revoke the FFCTO continues to be processed by the OSC. The Company has responded to an initial set of comments and is working diligently to reply to a secondary set of comments which includes finalizing the presentation of the 3rd quarter financial statements. The Company is hopeful that it will be able to resolve all issues in the very near future and to commence the process to reinstate trading of the Company's shares on the TSX Venture Exchange.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 pres...