Business
Nova Leap Health Corp. Posts Q1 2025 Results
NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES HA...
About this update from Nova Leap Health Corp.
[{"type":"text","content":"Nova Leap Health Corp. Posts Q1 2025 Results\n\n\n\n\n NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES\n \n\n\n HALIFAX, Nova Scotia, May 08, 2025 (GLOBE NEWSWIRE) -- NOVA LEAP HEALTH CORP. (TSXV: NLH) (“Nova Leap” or “the Company”), a growing home health care organization, is pleased to announce the release of financial results for the quarter ended March 31, 2025.\n \n\n All amounts are in United States dollars unless otherwise specified.\n \n\n\n\n\n Nova Leap Q1 2025 Financial Results\n \n\n\n Financial results for the first quarter ended March 31, 2025 include the following:\n \n\n\n Q1 2025 revenues of $7,093,624 increased by 7.7% relative to Q4 2024 revenues of $6,585,825 and 10.3% relative to Q1 2024 revenues of $6,429,721.\n \n\n\n\n\n\n\n\n Q1 2025 Adjusted EBITDA of $289,060 was a decrease of 30.0% over Q4 2024 Adjusted EBITDA of $412,947 and 20.1% over Q1 2024 Adjusted EBITDA of $361,802 (see calculation of Adjusted EBITDA below).\n \n\n\n\n\n\n\n\n Gross profit margin as a percentage of revenues remained strong at 39.0% in Q1 2025. Gross profit margin percentage was 39.1% in Q4 2024 and 38.0% in Q1 2024\n \n\n The Company generated income from operating activities in Q1 2025 of $75,152, a decrease of $111,557 and $146,032 from Q1 2024 and Q4 2024.\n \n\n\n\n The Company recorded a net loss of $78,299 in Q1 2025 as compared to net income of $473,073 and $886,268 in Q1 2024 and Q4 2024.\n \n\n On January 20, 2025, the Company acquired two affiliated home care businesses located in Nova Scotia. The acquisition was for total consideration of CAD$1,380,000, plus working capital adjustments. The acquisition was financed with the proceeds of a non-readvanceable demand loan issued from the company’s credit agreement.\n \n\n On May 5, 2025, the Company acquired a home care business located in Nova Scotia. The acquisition was for total consideration of CAD$390,000, all of which was paid on closing. The acquisition was financed with cash on hand.\n \n\n The Company had available cash of $1,333,115 as of March 31, 2025 as well as full access to the unutilized revolving credit facility of $1,043,406 (CAD$1,500,000).\n \n\n The Company had total demand loans and promissory notes outstanding as of March 31, 2025 of $2,526,202, representing a leverage ratio...