Nova Leap Health (NLH) Q4 2025 earnings summary

Executive summary

• Achieved record consolidated revenues, gross margin, and Adjusted EBITDA for 2025, with both Canadian and U.S. segments posting all-time highs in these metrics.

• 2025 marked the strongest financial performance in company history, driven by disciplined financial management and growth across all operations.

Financial highlights

• 2025 annual revenues reached $31.5 million, up 22.2% year-over-year from $25.8 million in 2024.

• Adjusted EBITDA for 2025 was $2,046,173, a 31.0% increase over 2024; Q4 2025 Adjusted EBITDA was $508,500, up 23.1% from Q4 2024 but down 24.2% sequentially from Q3 2025.

• Gross profit margin improved to 39.7% in 2025 from 38.4% in 2024; Q4 2025 margin was 39.8%.

• Operating income for 2025 was $1,105,998, up 28.1% year-over-year; Q4 2025 operating income was $261,854.

• Q4 2025 revenues were $8,087,783, 22.8% higher year-over-year but 2.1% lower sequentially.

• Net loss of $53,728 in Q4 2025 compared to net income of $426,171 in Q3 2025 and $886,268 in Q4 2024.

Outlook and guidance

• Management expects continued investment in organic growth and strategic acquisitions, supported by strong liquidity and disciplined financial management.

• Forward-looking statements highlight anticipated growth in annualized revenue and Adjusted EBITDA margins, subject to market and operational risks.