Carerx Corporation · TSX:CRRX
Carerx — Q1 2025 Earnings Presentation
14 slides from Carerx's earnings presentation, May 7, 2025
Slide 1: Q1 2025 Earnings Call
Q1 2025 EARNINGS CALL MAY 7, 2025
Slide 2: Cautionary Statements
Cautionary Statements Forward Looking Statements Certain of the statements contained in this presentation are "forward looking information within the meaning of applicable Canadian securities legislation. Forward looking information includes, but is not limited to, business strategy, plans and other
Slide 3: Puneet Khanna, President and Chief Executive Officer
PUNEET KHANNA PRESIDENT AND CHIEF EXECUTIVE OFFICER 3
Slide 4: Q1 2025 Highlights
Q1 2025 • Revenue in Q1 2025 of $89.6 million • Adjusted EBITDA in Q1 2025 of $7.8 million • Net Income in Q1 2025 of $0.2 million • New state-of-the-art pharmacy in British Columbia fully transitioned all beds in Q1 • B.C. Ministry of Health tour of the new Lower Mainland Pharmacy • Ontario capitat
Slide 5: Suzanne Brand, Chief Financial Officer
SUZANNE BRAND CHIEF FINANCIAL OFFICER 5
Slide 6: Financial Results | Revenue
Q1 2025 Financial Results | Revenue (millions) 110 100 $89.7 $92.2 $89.6 90 • Average beds serviced of 87,675: -3.6% vs Q1 2024 80 • Revenue remained stable primarily due to a 70 change in the mix of branded and generic 60 pharmaceuticals dispensed 50 40 30 20 10 0 Q1 2024 Q4 2024 Q1 2025 6
Slide 7: Financial Results | Adjusted EBITDA
Q1 2025 Financial Results | Adjusted EBITDA (millions) 10 9 $7.6 $7.8 • Adjusted EBITDA increased primarily due to 8 $7.4 certain efficiencies and cost savings initiatives 7 6 • Adjusted EBITDA margin increased 40 basis 5 points year-over-year to 8.7% and increased 4 50 basis points quarter-over-qua
Slide 8: Financial Results | Net Income
Q1 2025 Financial Results | Net Income (millions) Q1 2024 Q4 2024 Q1 2025 2 • Elimination of net loss was driven primarily by 1 decreases in finance costs, and depreciation and $0.2 amortization expenses; partially offset by increase in transaction, restructuring and other costs and 0 reduced favour
Slide 9: Balance Sheet
Balance Sheet (millions except ratio) At Mar 31/25 Cash $11.2 M • Quarter-over-quarter increase in cash balance and decline in net debt due to net increase in cash generated from operations and repayment of term Net Debt $33.4M loan Net Debt to Adjusted EBITDA1 1.1x 1. TTM Q1 2025 Adjusted EBITDA. 9
Slide 10: Puneet Khanna, President and Chief Executive Officer
PUNEET KHANNA PRESIDENT AND CHIEF EXECUTIVE OFFICER 10
Slide 11: Operational Excellence
Operational Excellence • Opened new high-volume fulfillment centre in North Burnaby, British Columbia and fully transitioned all beds before the end of Q1 • LEAN management implementation • Learnings from European pharmacy tour • Procurement • IT operations and governance 11 11 Positioning for long-
Slide 12: Growth
Growth • Previously announced beds will be fully onboarded before the end of Q2 • Robust sales pipeline • Large national and regional customers continue to build new homes and acquire smaller competitors
Slide 13: The Heart of What We Do
The Heart of What We Do 13 Well positioned for organic growth, tuck-in acquisitions and expanded services
Slide 14: CareRx
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