Q2 2024 LifeSpeak Inc Earnings Call Transcript
Key Points
- Consistent revenue of $12.4 million and adjusted EBITDA of $2.6 million for Q2 2024.
- Strong interest in LifeSpeak Inc (LSPKF)'s digital well-being services, leading to new agreements with notable clients.
- Significant partnership signed with Greenfield, a leading Canadian Integrated Health and Benefits Organization.
- Appointment of Lee Dabberdt as the new CFO, bringing over 25 years of financial and capital markets experience.
- Operational efficiencies and cost management supported a strong adjusted EBITDA margin of 21% for Q2 2024.
- Revenue for Q2 2024 was 6% lower compared to the same quarter in 2023.
- Net loss for Q2 2024 was $2.3 million, although an improvement from the $6.3 million loss in Q2 2023.
- NDR for Q2 2024 was 84%, slightly higher than Q1 2024 but 5% lower compared to Q2 2023.
- Logo retention rate was 75% for Q2 2024, slightly lower than Q1 2024 and 7% lower compared to Q2 2023.
- The company breached financial covenants as of June 30, 2024, triggering an event of default with its credit facilities.
Good morning, and welcome to LifeSpeak's second quarter 2024 results conference call. (Operator Instructions) Before we start, we would like to remind you that all amounts discussed in this call are denominated in Canadian dollars unless otherwise indicated.
Please note that statements made during this call include forward-looking statements and information and future-oriented financial information regarding LifeSpeak and its business and disclosure regarding possible events, conditions or results that are based on information currently available to management which indicate management's expectation of future growth, results of operations, business performance, business prospects and opportunities.
Such statements are made as of this date hereof, LifeSpeak assumes no obligation to update or revise them to reflect events, disclosures or circumstances except as required by applicable securities laws. Such statements involve significant risks and uncertainties and are not a guarantee of future performance or results.
A number of these risks and uncertainties could cause results to
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