Q2 2024 WELL Health Technologies Corp Earnings Call Transcript
Key Points
- Achieved 22nd consecutive record-breaking revenue quarter with 42% year-over-year revenue growth.
- Significant reduction in debt and leverage ratios in Q2 2024.
- Improved annual revenue guidance to between $970 million and $990 million for the year.
- Record 1.4 million patient visits in Q2 2024, a 38% increase compared to Q2 2023.
- Strong performance in Canadian clinics with over 3,900 providers and clinicians delivering care.
- Higher costs due to lower share issuance and stock-based incentives impacting adjusted EBITDA.
- Temporary negative impact on P&L from the transformation and digitization of acquired Shoppers Drug Mart clinics.
- Delays in cash collections on anesthesia claims due to a cybersecurity incident at billing partner Change Healthcare.
- Increased accounts receivable and other liabilities due to advanced funding from Change Healthcare.
- Potential risks associated with the planned spinout of the SaaS and services provider solutions business.
Welcome to the WELL Health Technologies Corp second-quarter 2024 financial results conference call. My name is Ynna, and I'll be your conference operator today. (Operator Instructions) Please note that this conference is being recorded.
I will now turn the call over to Mr. Tyler Baba, Manager, Investor Relations. Mr. Baba, you may begin.
Thank you, operator, and welcome, everyone, to WELL Health's fiscal second quarter financial results conference call for the three months ended June 30, 2024. Joining me today on the call are Hamed Shahbazi, Chairman and CEO; Eva Fong, the company's CFO.
I trust that everyone has received a copy of our financial results, press release that was issued earlier today. Please also note that we will be using some slides to assist us in our presentation today. If you are on a webcast, you will automatically see these. If not, you will need to download these from our investor site on our financials page.
Portions of today's call, other
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