Jack Nathan Health Announces Its Q1 Fiscal 2025 Financial Results
Jack Nathan Health (TSXV: JNH, OTCQB: JNHMF) announced its Q1 fiscal 2025 financial results, highlighting a 25% revenue growth to $5.28 million, driven by its clinic operations and expansion to 243 locations globally. Despite the revenue increase, the company reported an operating loss of $1.61 million due to higher expenses associated with new clinic openings. The company now operates 82 clinics in Canada and 161 clinics in Mexico, predominantly within Walmart locations. As of April 30, 2024, JNH reported cash of $1.77 million, total assets of $8.90 million, and total liabilities of $16.77 million. The company has 87,099,159 common shares outstanding and a secured convertible debenture with Walmart worth $8 million, maturing in July 2026.
- 25% revenue growth to $5.28 million in Q1 fiscal 2025.
- Expansion to 243 global locations including 82 in Canada and 161 in Mexico.
- Increased focus on clinic operations with 90% of total revenues from clinics.
- Operating loss increased to $1.61 million from $748,360.
- Cash reserves decreased to $1.77 million from $3.07 million.
- Higher operating expenses leading to increased losses.
Jack Nathan Health reports a strong start in Q1 fiscal 2025 with
Management Commentary
In discussing the Company's performance and future prospects, Dr. Glenn Copeland, Chairman and Chief Executive Officer, emphasized: "The Company is beginning to see the fruits of our labour as evidenced by the
Marcy Herriman, Chief Operating Officer added: “Our Team delivered another strong quarter and continues to do so year over year. Growth of
Financial Highlights for the three months ended April 30, 2024
Operating Results
Three months ended April 30 | ||
2024 |
2023 |
|
$ |
$ |
|
Revenues | 5,279,209 |
4,227,391 |
Operating expenses | (6,889,636) |
(4,975,751) |
Loss from operations | (1,610,427) |
(748,360) |
For the three months ended April 30, 2024, total revenues were
Clinic operations revenues of
The loss from operations for the three months ended April 30, 2024, was
Balance Sheet as of April 30, 2024
-
Cash of
(January 31, 2024 -$1.77 million )$3.07 million -
Total assets of
(January 31, 2024 -$8.90 million )$11.18 million -
Total liabilities of
(January 31, 2024 -$16.77 million )$17.13 million
Shares Outstanding
As of April 30, 2024, the Company had 87,099,159 common shares outstanding, 5,365,000 stock options outstanding, 8,500,000 RSUs outstanding and 502,506 DSUs outstanding.
The Company also has outstanding a secured convertible debenture in the principal amount of
For further information regarding the Company’s financial results for Q1 fiscal 2025, please refer to the unaudited interim consolidated financial statements of the Company for the three months ended April 30, 2024 together with the corresponding MD&A, available at www.sedarplus.ca and the JNH website https://www.jacknathanhealth.com
About Jack Nathan Medical Corp.
Jack Nathan Medical Corp., operating as Jack Nathan Health®, is one of Canada’s largest healthcare networks. Jack Nathan Health® is an innovative healthcare company that is improving access for millions of patients by co-locating physician and ancillary medical services conveniently inside Walmart® stores.
Jack Nathan Health® provides an exceptional level of patient care, made possible through patient-centric physicians, a variety of medical services, technology, and programs, designed to put patients first. Our mission is to provide everyone access to the finest quality retail medical centers, with both in-clinic physicians and digital telemedicine, so you and your loved ones can “Live Your Best Life”.
Jack Nathan Health® was established in 2006 and continues to expand its international footprint, delivering exceptional, state-of-the-art, turn-key medical centers in 243 locations globally, with 183 corporately owned and operated. In
For more information, visit www.jacknathanhealth.com or www.sedarplus.ca.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Appendix:
Certain statements contained in this press release constitute "forward-looking information" as such term is defined in applicable Canadian securities legislation. The words "may", "would", "could", "should", "potential", "will", "seek", "intend", "plan", "anticipate", "believe", "estimate", "expect" and similar expressions as they relate to Jack Nathan are intended to identify forward- looking information. All statements other than statements of historical fact may be forward- looking information. Such statements reflect the Company's current views and intentions with respect to future events, and current information available to them, and are subject to certain risks, uncertainties, and assumptions Many factors could cause the actual results, performance or achievements that may be expressed or implied by such forward-looking information to vary from those described herein should one or more of these risks or uncertainties materialize. Such factors include but are not limited to: changes in economic conditions or financial markets; increases in costs; litigation; legislative and other judicial, regulatory, political, and competitive developments; and operational difficulties. This list is not exhaustive of the factors that may affect forward-looking information. These and other factors should be considered carefully, and readers should not place undue reliance on such forward- looking information. Should any factor affect the Company in an unexpected manner, or should assumptions underlying the forward-looking information prove incorrect, the actual results or events may differ materially from the results or events predicted. Any such forward-looking information is expressly qualified in its entirety by this cautionary statement. Moreover, the Company does not assume responsibility for the accuracy or completeness of such forward- looking information. The forward-looking information included in this press release is made as of the date of this press release and the Company undertakes no obligation to publicly update or revise any forward- looking information, other than as required by applicable law.
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Jack Nathan Medical Corp., Bharat Choudhary, Chief Financial Officer, 416-637-2240
Source: Jack Nathan Medical Corp.
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