Carerx Corporation · TSX:CRRX
Carerx — Q3 2023 Earnings Presentation
15 slides from Carerx's earnings presentation, Nov 8, 2023
Slide 1: Q3 2023 Earnings Call
Q3 2023 Earnings Call November 8, 2023
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: Q3 2023
Q3 2023 • Revenue in Q3 2023 of $93.8 million • Adjusted EBITDA in Q3 2023 of $7.3 million • Announced NCIB to repurchase up to 1,000,000 common shares 4
Slide 5: Andrew Mok, Chief Financial Officer
Andrew Mok Chief Financial Officer 5
Slide 6: Q3 2023 Financial Results | Revenue
Q3 2023 Financial Results | Revenue (millions) • Average beds serviced of 93,906: -2.7% vs Q3 2022 110 $97.4 $94.5 $93.8 100 • Year-over-year revenue decline primarily the 90 result of a change in the mix of branded and generic drugs dispensed during the third quarter 80 of 2023. This did not negati
Slide 7: Q3 2023 Financial Results | Adjusted EBITDA
Q3 2023 Financial Results | Adjusted EBITDA (millions) 10 9 $7.7 • Year-over-year Adjusted EBITDA decline primarily 8 $7.0 $7.3 the result of incremental costs associated with 7 continued challenges in the healthcare labour 6 market totaling approximately $1.6 million in the quarter 5 4 • Quarter-ov
Slide 8: Q3 2023 Financial Results | Net Income
Q3 2023 Financial Results | Net Income (millions) • Year-over-year decline in net loss was driven primarily by decreases in share-based Q3 2022 Q2 2023 Q3 2023 compensation expense, transaction and 5 restructuring costs, finance costs and the loss on the change in fair value of contingent 4 consider
Slide 9: Balance Sheet
Balance Sheet (millions except ratio) • Increase in cash balance and reduction in net debt At Sept 30/23 driven primarily by cash from operating activities Cash $36.4 M • No impact from rising interest rates due to fixed rate debt Net Debt1 $56.2 M Net Debt to Adjusted EBITDA2 1.9x 9 1. Debt = borro
Slide 10: Puneet Khanna, President & Chief Executive Officer
Puneet Khanna President & Chief Executive Officer 10
Slide 11: Strategic Priorities
Strategic Priorities Optimize business operations Strengthen balance sheet and improve cash generation Continue to grow revenue Expand industry advocacy efforts 11
Slide 12: BD Rowa Update
BD Rowa Update • Commenced packaging in Q1 2023 • Innovative technology enabling higher volumes without additional labour costs, improved accuracy and reduced downtime • Over 11,000 beds serviced by end of Q3 2023 • Expect 13,000 beds to be online in Q4 2023 12 Optimized, higher volume and speed of
Slide 13: Optimize Business Operations
Optimize Business Operations • Procurement initiatives and best practices to augment purchasing power • Standardized operating model and policies and procedures to enhance operational efficiencies • Introducing Lean methodology to generate data-driven decisions that increase productivity, promote co
Slide 14: Multiple Paths For Growth
Multiple Paths For Growth Grow with existing customers • LTC occupancy increasing post-Covid ~94,0001 beds 19% • Home operators expanding through increased capacity, new construction, new bed license allocations and acquisitions • Increased penetration and broadening scope of services (e.g. Revicare
Slide 15: Questions
Questions Visit our website at www.carerx.ca | Follow @CareRx on Twitter