Carerx Corporation · TSX:CRRX
Carerx — Q2 2024 Earnings Presentation
13 slides from Carerx's earnings presentation, Aug 8, 2024
Slide 1: Q2 2024 Earnings Call
Q2 2024 Earnings Call August 8, 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: Q2 2024 Highlights
Q2 2024 • Revenue in Q2 2024 of $92.0 million • Adjusted EBITDA in Q2 2024 of $7.5 million • Announced Board Chair transition • Announced CFO transition • Strengthened leadership team • Completed sale of non-core pharmacy ops • Hosted Premier of Ontario, Minister of LTC and MPPs at Oakville Fulfillm
Slide 5: Davide Pernarella, Interim Chief Financial Officer
Davide Pernarella Interim Chief Financial Officer 5
Slide 6: Financial Results | Revenue
Q2 2024 Financial Results | Revenue (millions) 110 100 $94.5 • Average beds serviced of 90,667: -4.8% vs $89.7 $92.0 90 Q2 2023 80 70 • Year-over-year revenue decline primarily driven by a net reduction in average 60 number of beds serviced 50 40 • Quarter-over-quarter revenue increase 30 primarily
Slide 7: Financial Results | Adjusted EBITDA
Q2 2024 Financial Results | Adjusted EBITDA (millions) 10 9 8 $7.4 $7.5 • Year-over-year Adjusted EBITDA increase $7.0 primarily the result of efficiencies and cost 7 savings initiatives that commenced during 2H 6 2023 as well as benefits from amended 5 procurement agreement with major supplier 4 •
Slide 8: Financial Results | Net Income
Q2 2024 Financial Results | Net Income (millions) Q2 2023 Q1 2024 Q2 2024 • Elimination of net income driven primarily by non-cash adjustments including intangible 5 asset impairment as a result of the sale of a 4 non-core pharmacy location, higher share- 3 based compensation expense and income tax
Slide 9: Balance Sheet
Balance Sheet (millions except ratio) At Jun 30/24 • Quarter-over-quarter decrease in cash balance and decline in net debt due to repayment of term Cash $7.2 M loan and operating loan Net Debt1 $46.8 M Net Debt to Adjusted EBITDA2 1.6x 9 1. Debt = borrowings (principal) not including November 2019 C
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 & procedures to enhance operational efficiencies ➢ Expanding Lean methodology to generate data- driven decisions that increase productivity, promote continuou
Slide 12: Growth Strategy
Growth Strategy Organic Bed Wins • Broadening scope of products and services (e.g. Revicare, BOOMR., etc.) • Leverage scale & capabilities to provide superior pharmacy services offering • Increased focus on expansion to other congregate care settings • LTC occupancy increasing post-Covid Existing Pa
Slide 13: Questions
Questions Visit our website at www.carerx.ca | Follow @CareRx on Twitter Visit our website at www.carerx.ca | Follow @CareRx on Twitter