Carerx Corporation · TSX:CRRX
Carerx — Q1 2024 Earnings Presentation
13 slides from Carerx's earnings presentation, May 10, 2024
Slide 1: Q1 2024 Earnings Call
Q1 2024 Earnings Call May 10, 2024
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 & Chief Executive Officer
Puneet Khanna President & Chief Executive Officer 3
Slide 4: Q1 2024 Highlights
Q1 2024 • Revenue in Q1 2024 of $89.7 million • Adjusted EBITDA in Q1 2024 of $7.4 million • Previously scheduled LTC pharmacy funding change paused for a further year • Entered into Automatic Share Purchase Plan under NCIB 4
Slide 5: Andrew Mok, Chief Financial Officer
Andrew Mok Chief Financial Officer 5
Slide 6: Financial Results | Revenue
Q1 2024 Financial Results | Revenue (millions) 110 100 $91.4 $91.1 $89.7 • Average beds serviced of 90,913: -3.7% vs 90 Q1 2023 80 70 • Year-over-year and quarter-over-quarter 60 revenue decline primarily driven by a modest net reduction in average number 50 of beds serviced 40 30 20 10 0 Q1 2023 Q4
Slide 7: Financial Results | Adjusted EBITDA
Q1 2024 Financial Results | Adjusted EBITDA (millions) 10 9 8 $7.5 $7.4 • Year-over-year Adjusted EBITDA increase $6.8 7 primarily the result of efficiencies and cost 6 savings initiatives that commenced during the second half of 2023 5 4 • Adjusted EBITDA margin increased to 8.3% or 80 3 basis poin
Slide 8: Financial Results | Net Income
Q1 2024 Financial Results | Net Income (millions) Q1 2023 Q4 2023 Q1 2024 • Year-over-year and quarter-over-quarter 5 decline in net loss driven primarily by 4 decreases in finance costs and the impact of cost savings initiatives that commenced 3 during the second half of 2023 2 1 • Decline partiall
Slide 9: Balance Sheet
Balance Sheet (millions except ratio) At Mar 31/24 • Quarter-over-quarter increase in cash balance and decline in net debt due to increase in cash flows Cash $11.4 M from operations and a reduction in outflows related to interest and capex Net Debt1 $48.8 M Net Debt to Adjusted EBITDA2 1.6x 9 1. Deb
Slide 10: Puneet Khanna, President & Chief Executive Officer
Puneet Khanna President & Chief Executive Officer 10
Slide 11: Operational Optimization
Operational Optimization ➢ Procurement initiatives and best practices to augment purchasing power ➢ Standardized operating model and policies and procedures to enhance operational efficiencies ➢ Expanding Lean methodology to generate data-driven decisions that increase productivity, promote continuo
Slide 12: Growth Strategy
Growth Strategy ➢ Broadening scope of products and services (e.g. Revicare, BOOMR, etc.) ➢ Leverage scale & capabilities to provide superior pharmacy services offering Organic Bed Wins ➢ Increased focus on expansion to other congregate care settings ➢ LTC occupancy increasing post-Covid Home Partner
Slide 13: Questions
Questions Visit our website at www.carerx.ca | Follow @CareRx on Twitter