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Newtopia Inc. (NEWUF) is a tech-enabled whole health platform that focuses on creating sustainable habits to prevent, slow, and reverse chronic diseases. The company recently announced GLP-1 Sustain, a program designed to support users taking GLP-1 receptor agonists by maintaining long-term health benefits and cost savings. Newtopia's habit change platform has shown success in promoting positive lifestyle habits, resulting in significant weight loss and metabolic risk reduction. The company is dedicated to helping individuals develop constructive lifestyle habits for long-term health and well-being.
Newtopia reported Q3 2024 financial results with revenue of $1.0 million, down from $2.4 million in the prior year period. The decrease was attributed to a client loss in June 2024 and structural incentive changes. Gross profit was $0.3 million (34% of revenue). Adjusted operating expenses decreased 16% to $1.3 million, with an adjusted operating loss of $987 thousand compared to a gain of $21 thousand last year. The company announced a new partnership with a US supplemental payvider and expects to return to profitable growth in 2025.
Newtopia Inc. (TSXV: NEWU) (OTCQB: NEWUF) has signed a Framework Agreement with a supplemental insurance payvider to offer its habit change platform as a fully-covered benefit to thousands of U.S. workers starting in 2025. This partnership opens a new channel in supplemental insurance for Newtopia, aligning with its mission to cultivate whole health and wellbeing.
The payvider's platform serves major U.S. employers, representing millions of workers. Newtopia will provide its services to approximately 50% of plan members at risk of metabolic disease, with no out-of-pocket costs. Members will also have access to Newtopia's GLP-1 companion offerings, GLP-1 Ally and GLP-1 Sustain, designed to help maintain weight loss and healthier lifestyles.
CEO Jeff Ruby states this partnership aligns with Newtopia's diversified growth strategy and could accelerate progress toward cash flow positivity and profitability in 2025.
Newtopia Inc. (TSXV: NEWU) (OTCQB: NEWUF) has expanded its partnership with a global apparel leader to offer GLP-1 support programs to all employees and spouses taking GLP-1 medications. The company expects to enroll up to 1,000 new participants by early 2025. Newtopia's GLP-1 Ally and Sustain programs combine habit change coaching with nutrition, exercise, and mental well-being support to help maintain weight loss even after transitioning off GLP-1 medication.
CEO Jeff Ruby highlighted the potential for profitable growth and cash flow positivity in 2025. Additionally, Newtopia's Board is exploring value-maximizing alternatives, including a potential corporate sale, merger, or strategic investment. The company is in discussions with multiple parties about strategic transactions to address its goals and obligations, including subordinate debentures due on September 15, 2024.
Newtopia (TSXV: NEWU, OTCQB: NEWUF) reported its Q2 2024 financial results, showing a decline in revenue to $1.6 million from $2.4 million YoY. The gross profit margin decreased to 48% from 50%, and the company achieved an 18% reduction in operating expenses. Despite these improvements, Newtopia posted an operating loss of $727 thousand, larger than the $436 thousand loss in Q2 2023. The company ended the quarter with $0.52 million in cash.
The company highlighted ongoing successes, including high engagement rates and weight loss outcomes in recent trials, and outlined three strategic opportunities for growth: expanding partnerships, integrating its platform with GLP-1 drugs, and leveraging health AI and clinical discovery.
The company remains optimistic about its industry position and is focused on returning to EBITDA positivity.
Newtopia Inc. (TSXV: NEWU) (OTCQB: NEWUF), a tech-enabled whole health platform focusing on chronic disease prevention and reversal, has announced its schedule for the Second Quarter 2024 Earnings Release and Conference Call. The company will release its financial results for the quarter ended June 30, 2024, after market close on Thursday, August 8th, 2024. A conference call will follow at 5:00 p.m. eastern time to discuss the results in detail.
Investors can access the call by dialing (800) 717-1738 (U.S.) or (646) 307-1865 (International) and referencing Conference ID 04296. A live webcast will also be available on the company's investor relations website. For those unable to attend, a replay will be accessible until August 29, 2024, by dialing (844) 512-2921 (U.S.) or (412) 317-6671 (International) with passcode 11156555.
On July 10, 2024, Newtopia announced strategic steps to enhance shareholder value and address indebtedness, including a forbearance agreement with the Bank of Nova Scotia. This agreement allows Newtopia to explore various business options, such as a sale, merger, or investment opportunities. Newtopia is also reinstating trading on the TSX Venture Exchange, a positive development for shareholders.
Newtopia's CEO, Jeff Ruby, highlighted the company's achievements in engaging patients and improving health outcomes through clinical trials and corporate partnerships. Newtopia is currently exploring opportunities to expand innovation partnerships, integrate its platform with GLP-1 drugs, and collaborate with health AI innovators. However, the company faces significant financial challenges, including a working capital deficiency of $8,494,823 as of March 31, 2024.
The company plans to hold a shareholder meeting by September 30, 2024, to address key issues and provide updates on its strategic review process.
Newtopia has reported its Q4 2023, full year 2023, and Q1 2024 financial results. The company saw a decrease in revenue across all periods due to changes in a major client's incentive program. Q4 2023 revenue was $2.3M, down 25% YoY; full year 2023 revenue was $9.8M, down 12% YoY; and Q1 2024 revenue was $1.8M, down 31% YoY. Gross profit margins were 63%, 62%, and 50% for Q4 2023, full year 2023, and Q1 2024, respectively. Net cash stood at $0.4M at the end of Q4 2023 and $0.33M at the end of Q1 2024. The company has reduced operating expenses significantly. Newtopia is optimistic about growth opportunities with GLP-1 drugs and health AI partnerships.
Newtopia (TSXV: NEWU; OTCQB: NEWUF), a tech-enabled health platform focused on preventing chronic diseases, announced it will release combined financial results for Q4 2023 and Q1 2024 on May 23, 2024, after market close.
The company will hold a conference call at 5:00 p.m. Eastern Time on the same day to discuss these results. Interested parties can access the call via phone or live webcast.
A replay of the call will be available until June 13, 2024, and the webcast will be archived on Newtopia's investor relations website.
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