Business
LevelJump Record Revenues; Q1 Revenue Increase of 39%
Toronto, Ontario--(Newsfile Corp. - May 23, 2023) - LevelJump Healthcare Corp. (TSXV: JUMP) (OTCQ...
About this update from Leveljump Healthcare Corp.
[{"type":"text","content":"LevelJump Record Revenues; Q1 Revenue Increase of 39%Toronto, Ontario--(Newsfile Corp. - May 23, 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 first fiscal quarter ended March 31, 2023. All amounts are expressed in Canadian dollars.Financial and Operational HighlightsRevenues from Canadian Teleradiology Services, Inc. (\"CTS\") operations hits record level with $2,755,833 in revenues for the first quarter.Gross profit from CTS operations was $753,553 for the quarter, a 27% margin (2% increase from margins in Q1 2022).CTS Year over Year Q1 revenue increased $775,973, an increase of 39%.2023 Q1 Financial Results for LevelJumpConsolidated EBITDA of $(84,518) and adjusted EBITDA of $15,482.Management Comments\"We had another record quarter of revenue and are now tracking over $10 million annually in revenues not including our share of Real Time Medical,\" said Mitch Geisler, CEO. \"CTS continues to grow each quarter as the demand for our teleradiology services increases. Additionally, we are showing growth with strong potential at our IHF's. The Company continues to focus on broadening its telehealth solutions, increasing its radiology services for critical care and show growth organically and through strategic acquisitions. As our Yonge Sheppard location comes online, we expect revenues to grow and the Company's EBITDA to consistently be 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 l...