Jack Nathan Health Announces Its Q2 Fiscal 2025 Financial Results
Jack Nathan Health reports a
Management Commentary
Dr. Glenn Copeland, Chairman and Chief Executive Officer, commented: “In Q2 fiscal 2025, we saw the positive impact of our efforts to mature our clinic operations. The
Marcy Herriman, Chief Operating Officer, added: “Our focus this quarter was on bringing our clinics to full capacity and enhancing service delivery. The steady revenue growth reflects our commitment to operational excellence.”
Financial Highlights for the three and six months ended July 31, 2024
Operating Results
Three months ended July 31 |
Six months ended July 31 |
|||
2024 |
2023 |
2024 |
2023 |
|
$ |
$ |
$ |
$ |
|
Revenues | 5,391,339 |
4,568,207 |
10,670,548 |
8,795,598 |
Total operating expenses | (7,068,819) |
(6,080,333) |
(13,846,109) |
(11,056,084) |
Loss from operations | (1,677,480) |
(1,512,126) |
(3,175,561) |
(2,260,486) |
Revenues for the six months ended July 31, 2024, were
Clinic operations revenues of
Loss from operations for the six months ended July 31, 2024, was
Balance Sheet as of July 31, 2024
-
Cash of
(January 31, 2024 -$768,012 )$3.07 million -
Total assets of
(January 31, 2024 -$7.06 million )$11.18 million -
Total liabilities of
(January 31, 2024 -$17.22 million )$17.13 million
On September 13, 2024, the Company signed a non-binding letter of intent (the “LOI”) with an unrelated party for a proposed transaction as part of the Company’s ongoing efforts to explore certain strategic alternatives (see the Company’s September 13, 2024 press release). The proposed transaction is subject to, among other conditions, the completion of satisfactory due diligence by the other party to the LOI and the negotiation and execution of a definitive agreement. The LOI includes a 30-day exclusivity period with the other party and conditional funding to support the Company’s cash flow needs while the parties work towards negotiating and entering into the definitive agreement. The LOI does not create any legally binding obligations to enter into a definitive agreement, and no assurance can be provided that a definitive agreement will be signed. If a definitive agreement is signed, transaction details will be provided by the Company at that time.
Shares Outstanding
As of July 31, 2024, the Company had 87,099,159 common shares outstanding, 5,215,000 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 Q2 fiscal 2025, please refer to the unaudited interim consolidated financial statements of the Company for the three and six months ended July 31, 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.
Cautionary Note Concerning Forward-Looking Information
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., Mike Marchelletta, Vice Chairman; phone: (416) 518-1000
Source: Jack Nathan Medical Corp.