Business
NexgenRx Announces 2024 Year End Results with Continued Strong Revenue Growth and Increasing Positive EBITDA
TORONTO, ON / ACCESS Newswire / April 3, 2025 / NEXGENRX INC. ("NexgenRx" or the "Company") ...
About this update from Nexgenrx Inc.
[{"type":"text","content":"NexgenRx Announces 2024 Year End Results with Continued Strong Revenue Growth and Increasing Positive EBITDATORONTO, ON / ACCESS Newswire / April 3, 2025 / NEXGENRX INC. (\"NexgenRx\" or the \"Company\") is pleased to announce its annual financial results for the financial year ended December 31, 2024, with continued revenue growth to $4,200,435 for the quarter and $16,475,286 for the year. Annual EBITDA was $2,339,422.The Company achieved solid revenue growth in 2024. The Company's 2024 annual results showed a significant increase in revenue of $2,628,957 or 19% over the prior year, with positive EBITDA of $2,339,422. The Company's net income and EBITDA improved by $946,539 and $1,272,175 respectively compared to the prior year. The Company's cash position at year-end remained strong at $1,705,666, after cash dividend payouts of $908,195 to the common and preferred shareholders during the year. The Company is well positioned to continue to generate free cash flow, supported by its strong recurring revenues and sales pipelines.The Company is well prepared for increased demand for efficient benefits administration and claims processing. Implementation of these opportunities is expected to provide increased meaningful revenue for the Company. NexgenRx's technology-driven offering is recognized as a differentiator for customers seeking more cost-effective solutions for their administration needs as well as adjudication of drug, extended health and dental benefits programs. This year, NexgenRx continues its next phase as a technology solution provider, promoting and expanding NexgenRx's fully managed SaaS solutions that empowers its customers to self-manage their benefit plans effectively and efficiently.Ron Loucks, President and CEO, stated \"2024 was a rewarding year, evidenced by the strong revenue growth to our top line. The Company closed several new clients from our sales pipeline. In 2025, the Company will continue to place its focus on market penetration by expanding its reach in the marketplace with new and innovative product solutions. As always, I would like to acknowledge our loyal shareholders, Board of Directors for their dedication, advice and counsel; our hard-working staff and most importantly, the continuous support and trust of our customers, in their commitment to the NexgenRx Group of Companies.\"About NexgenRxN...