MONTREAL, Dec. 21, 2021 (GLOBE NEWSWIRE) — Premier Health of America Inc. (TSXV: PHA) (the “Corporation”), a leading Canadian Healthtech company, announces it has filed its Audited Consolidated Financial Statements and MD&A for its fiscal year ended September 30, 2021.
Summary
- The Corporation had revenues of $17.6M for the fourth quarter period ($66.6M for the 12-month period compared to $20.7M for the same period in 2020, a material increase attributable to the consolidation of the Code Bleu and Solution Nursing acquisitions as well as organic growth)
- The gross margin for the quarter was 25.1% (24.4% average for the 12-month period), in line with our long-term target of 25%.
- EBITDA(1) for the quarter was $1.7M ($5.9M for the 12-month period compared to $2.1M for the same period in 2020).
- Net income was $0.6M ($1.5M for the 12-month period compared to $27,921 for the same period in 2020).
“Fiscal 2022 will be determinant on many fronts for Premier Health as we expand our activities in other provinces,” said Martin Legault, CEO of Premier Health. “We also anticipate stability in demand for our services in the short term and over what we anticipate to be a fairly long post-pandemic recovery period considering recent developments.”
Fourth Quarter 2021 and FY2021 Results Highlights
| September 30, 2021 (3 months) | September 30, 2020 (3 months) | September 30, 2021 (12 months) | September 30, 2020 (12 months) | |||
| Revenues | $17,628,914 | $6,937,019 | $66,628,858 | $20,739,973 | ||
| From last period | +154% | +221% | ||||
| Gross margin | $4,431,674 | $2,163,581 | $16,254,208 | $5,712,190 | ||
| From last period | +105% | +185% | ||||
| EBITDA (1) | $1,734,773 | $429,420 | $5,902,079 | $2,135,987 | ||
| From last period | +304% | +176% | ||||
| Net Income | $644,925 | $6,993 | $1,496,788 | $27,921 | ||
(1) Adjusted EBITDA before non-recurring items
Business Highlights
- Many long-term contracts were renewed in the normal course of business during the period.
- The Corporation provided 253,701hours of services during the quarter for a total of 991,076 for the year (307,020 in FY2020).
- The Corporation has completed its technology roadmap exercise and has identified future development axes for its platform.
- The Corporation hired a new Chief…