Nova Leap Health (NLH) Q3 2024 earnings summary

Executive summary

• Achieved 11th consecutive quarter of positive Adjusted EBITDA and 6th consecutive quarter of positive operating income.

• Maintained a strong balance sheet with no bank debt and positive net cash flows.

• Announced two pending acquisitions in Florida and Nova Scotia, expected to close in Q4 2024.

Financial highlights

• Q3 2024 revenue was $6,406,528, up 1.1% from Q2 2024 and down 2.2% from Q3 2023.

• Adjusted EBITDA for Q3 2024 was $379,116, down 7.1% from Q2 2024 and 12.7% from Q3 2023.

• Net loss of $207,871 in Q3 2024, compared to net income of $226,998 in Q2 2024 and $380,353 in Q3 2023.

• Gross profit margin was 38.0% in Q3 2024, compared to 38.4% in Q2 2024 and 37.4% in Q3 2023.

• Cash balance increased by $195,632 in Q3 2024, with $1,361,000 available as of September 30, 2024.

Outlook and guidance

• Management remains focused on growth through acquisitions, leveraging available borrowing capacity.

• Forward-looking statements highlight expectations for continued expansion and cost savings, but note significant risks and uncertainties.