An email has been sent to your address with instructions for changing your password.
There is no user registered with this email.
Sign Up
To create a free account, please fill out the form below.
Thank you for signing up!
A confirmation email has been sent to your email address. Please check your email and follow the instructions in the message to complete the registration process. If you do not receive the email, please check your spam folder or contact us for assistance.
Welcome to our platform!
Oops!
Something went wrong while trying to create your new account. Please try again and if the problem persist, Email Us to receive support.
Jack Nathan Health reported a 24% growth in revenue for the fiscal year 2024, reaching $19.1 million. The company expanded to 245 locations globally, with a focus on Canada and Mexico. The partnership with Walmart drove robust financial outcomes, leading to an increase in revenue. The company opened 9 new clinics in Canada and experienced significant growth in Mexico. Operating expenses decreased, resulting in a smaller net loss compared to the previous year. The balance sheet showed an increase in cash and total assets, with total liabilities also increasing. The company had 87,099,159 common shares outstanding as of January 31, 2024.
Jack Nathan Health ha registrato una crescita del fatturato del 24% nell'anno fiscale 2024, raggiungendo i 19,1 milioni di dollari. La compagnia si è espansa a 245 sedi globalmente, con un focus sul Canada e il Messico. La partnership con Walmart ha portato a solidi risultati finanziari, risultando in un aumento del fatturato. L'azienda ha aperto 9 nuove cliniche in Canada e ha registrato una crescita significativa in Messico. Le spese operative sono diminuite, portando a una riduzione della perdita netta rispetto all'anno precedente. Il bilancio mostra un aumento di contanti e attivi totali, con un aumento anche delle passività totali. Al 31 gennaio 2024, l'azienda aveva 87.099.159 azioni ordinarie in circolazione.
Jack Nathan Health reportó un crecimiento en ingresos del 24% para el año fiscal 2024, alcanzando los 19.1 millones de dólares. La empresa se expandió a 245 ubicaciones globalmente, con un enfoque en Canadá y México. La asociación con Walmart impulsó resultados financieros robustos, llevando a un incremento en los ingresos. La compañía abrió 9 nuevas clínicas en Canadá y experimentó un crecimiento significativo en México. Los gastos operativos disminuyeron, resultando en una menor pérdida neta en comparación con el año anterior. El balance general mostró un incremento en efectivo y activos totales, con un aumento también en las obligaciones totales. Al 31 de enero de 2024, la compañía contaba con 87,099,159 acciones comunes en circulación.
잭 네이선 헬스는 2024 회계연도에 매출이 24% 증가하여 1,910만 달러에 달했습니다. 이 회사는 전 세계적으로 245개 지점으로 확장되었으며, 특히 캐나다와 멕시코에 중점을 두었습니다. 월마트와의 파트너십은 강력한 재무 성과를 이끌어 매출 증가로 이어졌습니다. 회사는 캐나다에 9개의 새 클리닉을 개설했고 멕시코에서도 큰 성장을 경험했습니다. 운영 비용이 감소되어 전년 대비 순손실이 줄어들었습니다. 재무제표는 현금과 총 자산의 증가를 보여주었고, 총 부채도 증가했습니다. 2024년 1월 31일 기준으로 회사는 87,099,159주의 보통주가 발행되었습니다.
Jack Nathan Health a rapporté une croissance de ses revenus de 24% pour l'exercice fiscal 2024, atteignant 19,1 millions de dollars. L'entreprise s'est étendue à 245 sites à l'échelle mondiale, en mettant l'accent sur le Canada et le Mexique. Le partenariat avec Walmart a mené à des résultats financiers robustes, entraînant une augmentation des revenus. La société a ouvert 9 nouvelles cliniques au Canada et a connu une croissance significative au Mexique. Les dépenses d'exploitation ont diminué, résultant en une perte nette réduite par rapport à l'année précédente. Le bilan a montré une augmentation des liquidités et des actifs totaux, avec également une augmentation des passifs totaux. Au 31 janvier 2024, la société comptait 87 099 159 actions ordinaires en circulation.
Jack Nathan Health verzeichnete im Geschäftsjahr 2024 ein Umsatzwachstum von 24%, was einem Ertrag von 19,1 Millionen Dollar entspricht. Das Unternehmen hat seine Präsenz auf 245 Standorte weltweit ausgeweitet, mit einem Schwerpunkt auf Kanada und Mexiko. Die Partnerschaft mit Walmart führte zu starken finanziellen Ergebnissen und einem Umsatzanstieg. Das Unternehmen eröffnete 9 neue Kliniken in Kanada und verzeichnete ein deutliches Wachstum in Mexiko. Die Betriebskosten sanken, was zu einem geringeren Nettoverlust im Vergleich zum Vorjahr führte. Die Bilanz zeigte eine Zunahme an Bargeld und Gesamtvermögen, wobei auch die Gesamtverbindlichkeiten stiegen. Am 31. Januar 2024 hatte das Unternehmen 87.099.159 ausgegebene Stammaktien.
Positive
Revenue growth of 24% for the fiscal year 2024, reaching $19.1 million.
Expansion to 245 locations globally, including Canada and Mexico.
Robust financial outcomes driven by the partnership with Walmart.
Opening of 9 new state-of-the-art clinics in Canada.
Significant growth in Mexico with a 23% increase in clinic footprint and revenue.
Decrease in operating loss for the year, primarily due to the absence of an impairment loss.
Increase in cash and total assets on the balance sheet.
Negative
Total liabilities on the balance sheet increased to $17.13 million.
Loss from operations for the year, although decreased, was $6.44 million.
Operating expenses remained high at $25.59 million for the fiscal year.
Revenue of $19.1 million for the year ended January 31, 2024 versus prior year of $15.5 million.
24% Overall growth in revenue
The Company expanded to 245 locations globally (185 corporately owned and operated)
TORONTO--(BUSINESS WIRE)--
Jack Nathan Medical Corp. (TSXV: JNH, OTCQB: JNHMF) (“Jack Nathan Health”, “JNH” or the “Company”) announced today its audited consolidated annual financial results for the fourth quarter of fiscal 2024, and fiscal year ended January 31, 2024. Jack Nathan Health’s financial statements are prepared in accordance with International Financial Reporting Standards (“IFRS”).
Management Commentary
In discussing the company's performance and future prospects, Dr. Glenn Copeland, Chairman and Chief Executive Officer, emphasized: "Our partnership with Walmart continues to drive robust financial outcomes, evidenced by a stronger 24% increase in revenue year over year. As our main partner, Walmart plays a pivotal role in laying the groundwork for our future expansion. We anticipate reaping the rewards of our joint efforts as the newly opened clinics reach maturity."
Marcy Herriman, Chief Operating Officer added: “The Company has designed, constructed and opened 9 new state of the art clinics in fiscal 2024 in Canada. This was only possible due to the hard work of the team. Going forward, the Company will focus on increasing its footprint in the medical space in Canada and ramp up sales in the newly opened clinics.”
Laura Camacho, Managing Director, JNH Mexico commented: “JNH Mexico experienced a significant growth last year with a 23% increase in clinic footprint, 78% increase in revenues, and 155% increase in net income. With the opening of the first Multidisciplinary clinic and the projection to open 2 more in fiscal 2025, the Company is positioning itself to improve access to highest quality healthcare.”
Financial Highlights for the fiscal year ended January 31, 2024
Operating Results
Three months ended January 31
Year ended January 31
2024
2023
2024
2023
$
$
$
$
Revenues
5,409,709
3,685,688
19,144,923
15,487,698
Operating expenses
(8,015,685)
(7,208,977)
(25,589,015)
(22,448,399)
Loss from operations
(2,605,976)
(3,523,289)
(6,444,092)
(6,960,701)
For the three months ended January 31, 2024, total revenues were $5,409,709 (January 31, 2023 - $3,685,689), an increase of $1,724,020 or 47%. For the year ended January 31, 2024, revenues were $19,144,923 (January 31, 2023 - $15,487,698), resulting in an increase of $3,657,225 or 24%. The Company saw significant growth in revenues driven from its clinic operations. The Company expects license revenues to be a smaller percentage of total revenues as clinic operations continue to grow.
Clinic operations revenues of $5,219,950 accounted for 96% of total revenues for the three months ended January 31, 2024, compared to $3,349,234 or 91% of revenues for the three months ended January 31, 2023. The clinic operations revenues during the three months ended January 31, 2024 increased due to the opening of additional clinics. For the year ended January 31, 2024, clinic operations revenues of $16,873,212 accounted for 88% of total revenues compared to $12,708,992 or 82% of revenues for the year ended January 31, 2023. Clinic operations increased by 33% compared to last year due to the expansion of the medical clinics throughout Mexico and due to the new medical services offered in Canada. As of January 31, 2024, the Company owned and operated 24 medical clinic locations inclusive of four rehab and six MedSpa locations in Canada and 155 corporate owned and operated clinics in Walmart locations across Mexico, 5 clinics inside Walmart Distribution Centers servicing Walmart Associates, and 1 Multidisciplinary clinic. The increase in clinic operations is aligned with the Company’s strategic plan of expanding corporate-owned and operated medical centres with strategic partner Walmart.
Loss from operations for the year ended January 31, 2024 was $6,444,092 (2023 - $6,960,701) representing a decrease of $516,609 or 7%. The decrease in net loss was primarily due to prior year containing an impairment loss which was not present in the current year. The direct clinical costs increased at the same rate as revenues and produced the same margins year over year. All other expenses decreased slightly contributing to the overall decrease in net loss.
Balance Sheet as of January 31, 2024
Cash of $3.07 million (January 31, 2023 - $1.46 million)
Total assets of $11.19 million (January 31, 2023 - $6.45 million)
Total liabilities of $17.13 million (January 31, 2023 - $8.32 million)
Shares Outstanding
As of January 31, 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 $8,000,000, which is held by Wal-Mart Canada Corp. (“Wal-Mart”). Subject to earlier conversion, the Debenture will mature on July 20, 2026. The principal amount outstanding under the debenture is convertible, at the option of Wal-Mart, into units of the Company at a price of $0.105 per unit. Each such unit shall consist of one common share of the Company and one warrant, with each such warrant entitling the holder to purchase one common share of the Company at an exercise price of $0.105 until the date that is three years following the date of issue of such warrant.
For further information regarding the Company’s financial results for fiscal year ended January 31, 2024, please refer to the audited annual consolidated financial statements of the Company as at and for the 12 months ended January 31, 2024 together with the corresponding MD&A, available at www.sedarplus.caand 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 Canada, the Company has 81 clinics in Walmart locations in British Columbia, Alberta, Saskatchewan, Manitoba, Ontario, and Quebec and 3 independent locations for a total of 84 clinics. There are currently 24 corporate owned and operated clinics of which 4 include Rehab services and 6 include MedSpa services. In Mexico, the Company has 155 corporate owned and operated clinics in Walmart locations, 5 Clinics inside Walmart Distribution Centers servicing Walmart Associates, and 1 Multidisciplinary clinic. During the most recent quarter, Jack Nathan Health, Mexico started operation of its first medical center in Mexico City.
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 ofthe 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.
