Nova Leap Health (NLH) Q1 2025 earnings summary

Executive summary

• Q1 2025 revenues reached $7.09M, up 7.7% from Q4 2024 and 10.3% year-over-year.

• Adjusted EBITDA for Q1 2025 was $289K, down 30% from Q4 2024 and 20.1% from Q1 2024.

• Net loss of $78K in Q1 2025 compared to net income of $473K in Q1 2024 and $886K in Q4 2024.

• Three acquisitions in the past five months, with Nova Scotia now the fastest growing segment.

Financial highlights

• Gross profit margin held steady at 39.0% in Q1 2025, compared to 39.1% in Q4 2024 and 38.0% in Q1 2024.

• Income from operating activities was $75K, down $111K from Q1 2024 and $146K from Q4 2024.

• Available cash as of March 31, 2025 was $1.33M, with full access to a $1.04M revolving credit facility.

Outlook and guidance

• Management anticipates record quarterly revenues in Q2 2025, surpassing previous highs.

• Adjusted EBITDA expected to lag in the near term due to ongoing investments, but long-term gains anticipated.