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Newtopia Q3 2024 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2024 earnings summary27 Nov, 2024
Executive summary
Achieved industry-leading participant engagement and clinically significant weight loss and A1C reductions, serving over 125,000 individuals across diverse populations.
Operational enhancements and cost structure improvements are paving the way toward profitability in 2025, supported by a new US supplemental payvider partnership.
Strategic focus on new partnerships, client renewals, and leveraging health AI and clinical discovery collaborations.
Only provider in its space with Full-Plus CDC accreditation and industry-leading engagement rates, supporting both medication and non-medication-based interventions.
Leveraging genetic data and AI to deliver personalized coaching and digital tools for chronic disease risk reduction and cost savings for payers.
Financial highlights
Q3 2024 revenue was approximately C$986K–C$1.0 million, down from C$2.4 million year-over-year, mainly due to client loss and incentive changes.
Gross profit for Q3 2024 was C$0.33–0.4 million, with a gross margin of 34%–37%.
Selling, general, and administrative expenses improved 16% year-over-year to C$1.0 million.
Technology and development expenses improved 18% year-over-year to C$0.4 million.
EBITDA/adjusted operating loss for Q3 2024 was C$987,000, compared to a gain of C$21,000 in Q3 2023.
Outlook and guidance
Targeting cash flow positivity and profitability in 2025, supported by new partnership channels and operational efficiencies.
Anticipates reporting full results of the Heartland Whole Health Institute project in Q4 and publishing data in 2025.
Focused on expanding innovation partnerships, integrating GLP-1 drugs, and leveraging health AI.
Significant expansion opportunities exist within current client bases, with only 35% population access achieved to date.
Positioned to benefit from the growing demand for GLP-1 drugs, as its platform is essential for sustainable outcomes and payer ROI.
Assess the payvider partnership's potential impact.
What drove the revenue decline in Q3 2024?
Detail the progress in health AI partnerships.
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Frequently asked questions
Newtopia Inc. is a healthcare technology company specializing in delivering personalized health and wellness programs aimed at disease prevention and management. The company offers behavior change programs that focus on weight management, stress reduction, and physical activity to reduce the risk of chronic conditions such as obesity, diabetes, and heart disease. By leveraging data analytics, genetic testing, and digital engagement tools, Newtopia creates tailored plans for individuals to improve long-term health outcomes. Its services are primarily targeted toward large employers, health insurers, and health systems looking to reduce healthcare costs through preventative care solutions. The company is headquartered in Toronto, Ontario, and its shares are listed on the TSXV.
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