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LevelJump Announces Record Revenues from Operations; Q1 Revenue Increase of 27%; Q1 2022 Earnings and Results
Toronto, Ontario--(Newsfile Corp. - May 31, 2022) - LevelJump Healthcare Corp. (TSXV: JUMP) (O...
About this update from Leveljump Healthcare Corp.
[{"type":"text","content":"LevelJump Announces Record Revenues from Operations; Q1 Revenue Increase of 27%; Q1 2022 Earnings and ResultsToronto, Ontario--(Newsfile Corp. - May 31, 2022) - LevelJump Healthcare Corp. (TSXV: JUMP) (OTCQB: JMPHF) (FSE: 75J) (\"LevelJump\" or the \"Company\"), a Canadian leader in B2B telehealth solutions, is pleased to announce today it has reported financial results for the first fiscal quarter ended March 31, 2022. All amounts are expressed in Canadian dollars.Financial and Operational HighlightsRevenues from Canadian Teleradiology Services, Inc. (\"CTS\") operations hits record level with $1,979,860 in revenues for the first quarter.Gross profit from CTS operations was $495,176 for the quarter, a 25% margin;Year over Year Q1 revenue increase of $419,139 an increase of 27%.CTS completed acquisition of 3 diagnostic imaging centers in Belleville and Cobourg, Ontario;Credit facility of $3.2 million secured from TD Canada Trust at 4.02%2021 Q1 Financial Results for LeveljumpJUMP EBITDA of $(197,516) and adjusted EBITDA of $33,484 for Q1.Management Comments\"We had another record quarter of revenue with positive adjusted EBITDA\", said Mitch Geisler CEO. \"CTS continues to grow each quarter as the demand for our teleradiology services increases. Additionally, we acquired three clinics providing crucial services to the communities they serve. The Company continues to focus on broadening it's telehealth solutions, increasing its radiology services for critical care and show growth organically and through strategic acquisitions.\"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 an...