- Third quarter total revenue of $17.6 million, up 9% year-over-year
- Adjusted EBITDA(1) of $0.7 million, up 9% year-over-year, and our 23rd consecutive quarter of positive adjusted EBITDA
- Positive cash flow, with net debt down 8% versus September 30, 2023, and with significant investments in our facilities to support future growth
TORONTO, ONTARIO, November 14, 2024 – NeuPath Health Inc. (TSXV:NPTH), (“NeuPath” or the “Company”), owner and operator of a network of clinics delivering category-leading chronic pain treatment, today announced its financial and operating results for the three and nine months ended September 30, 2024. All figures are in Canadian dollars, unless otherwise noted.
“Continued organic growth and a focus on operations is funding investments in our clinics, which will drive growth in coming years,” said Joe Walewicz, NeuPath’s Chief Executive Officer. “Additionally, our improving Balance Sheet is allowing us to evaluate new opportunities for organic and inorganic growth to better serve more patients, with more services, in more communities.”
Financial and Operational Highlights
- Total revenue was $17.6 million and $53.9 million for the three and nine months ended September 30, 2024, up 9% over the prior year three-month and nine-month periods;
- Adjusted EBITDA was $0.7 million and $2.9 million for the three and nine months ended September 30, 2024, up 9% over the prior year three-month period and up 20% over the prior year nine-month period;
- For the nine months ended September 30, 2024, capacity utilization improved to 74%, up from 67% for the nine months ended September 30, 2023; and
- As at September 30, 2024, the Company had $3.1 million in cash and cash equivalents and long-term debt of $6.0 million, of which $2.3 million is interest-bearing.
(1) Non-International Financial Reporting Standard (“IFRS”) and Other Financial Measures defined by the Company below.
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