From GlobeNewswire: 2024-11-07 17:02:00

Nova Leap Health Corp. released its financial results for Q3 of 2024, reporting positive Adjusted EBITDA and net cash flows, maintaining no bank debt. Revenues were $6,406,528, up 1.1% from Q2 2024. Adjusted EBITDA was $379,116, a decrease of 7.1% from Q2 2024. The company executed agreements for acquisitions in Florida and Nova Scotia.

The company reported a gross profit margin of 38.0% in Q3 2024 and income from operating activities of $208,110. A net loss of $207,871 was recorded for the quarter. Available cash was $1,361,000 as of September 30, 2024, with access to a revolving credit facility. The acquisitions are expected to close in November and December 2024.

Nova Leap President & CEO, Chris Dobbin, commented on the steady performance in Q3, highlighting positive results, cash flows, and no bank debt. The company is actively pursuing growth opportunities through acquisitions, leveraging its strong balance sheet and borrowing capacity. The company is in the home health care services industry in the U.S. and Canada.

Adjusted EBITDA, a key financial measure for Nova Leap, was calculated at $379,116 for Q3 2024. The company provides non-IFRS financial measures to complement IFRS measures and enhance understanding of operations. Forward-looking information in the press release includes plans for expansions, cost savings, acquisitions, and growth strategies. The company cautions that actual results may differ from forward-looking statements.



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