Business
LevelJump Healthcare Corp. Announces Record Revenues; Q2 Revenue Increase of 34%
Toronto, Ontario--(Newsfile Corp. - August 29, 2023) - LevelJump Healthcare Corp. (TSXV: JUMP) (O...
About this update from Leveljump Healthcare Corp.
[{"type":"text","content":"LevelJump Healthcare Corp. Announces Record Revenues; Q2 Revenue Increase of 34%Toronto, Ontario--(Newsfile Corp. - August 29, 2023) - 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 fiscal quarter ended June 30, 2023. All amounts are expressed in Canadian dollars.Financial and Operational HighlightsRevenues from Canadian Teleradiology Services, Inc. (\"CTS\") operations hits record level with $3,122,046 in revenues for the second quarter.Gross profit from CTS operations was $912,353 for the quarter, a 29% margin (2% increase from margins in Q1 2023).CTS Year over Year Q2 revenue increased 34%.Management Comments\"We had another record quarter of revenue and are now tracking over $12 million annually in revenues,\" said Mitch Geisler CEO. \"As our Yonge Sheppard location comes online, and once we close the Alberta acquisition, we expect revenues to grow to over $20 million annually with a margin of over 30%, 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, n...