Q3 2024 WELL Health Technologies Corp Earnings Call Transcript
Key Points
- WELL Health Technologies Corp (WHTCF) achieved record quarterly performances for revenue, adjusted EBITDA, free cash flow, patient visits, and organic growth.
- The company surpassed $1 billion in annualized revenue run rate, one quarter ahead of its previously stated plan.
- WELL Health Technologies Corp (WHTCF) reported a 35% revenue growth in its Canadian patient services business and 23% overall organic growth.
- The company delivered $32.7 million in adjusted EBITDA, reflecting a 16% year-over-year growth and 6% sequential quarter-over-quarter growth.
- WELL Health Technologies Corp (WHTCF) increased its annual revenue guidance to between $985 million to $995 million, reflecting recent clinic acquisitions and healthy organic growth.
- The company reported an IFRS net loss of $75.8 million in Q3 2024, primarily due to unrealized losses on its investment in HEALWELL AI.
- WELL Health Technologies Corp (WHTCF) maintained its annual adjusted EBITDA guidance due to the negative impact of hurricanes on its PR business.
- The company's leverage ratio, including convertible notes, ended up at 3.26% for the quarter.
- There was a buildup in accounts receivable balance due to delays in cash collections on anesthesia claims, resulting from a cybersecurity incident at its billing partner.
- The company expects a temporary negative impact on its P&L in 2025 due to the transformation and digitization work on the Jack Nathan Health clinics.
Welcome to the WELL Health Technologies Corp. third-quarter 2024 financial results conference call. My name is Ina, and I'll be your operator for today's call. (Operator Instructions). Please note, this conference is being recorded.
I'll now turn the call over to Tyler Baba, Manager, Investor Relations. Mr. Baba, you may begin.
Thank you, operator, and welcome, everyone, to WELL Health fiscal third-quarter financial results conference call for the three months ended September 30, 2024. Joining me on the call today are Hamed Shahbazi, Chairman and CEO; and 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.
Portions of today's call other than historical performance include statements of forward-looking information within the meaning of applicable securities laws, including future-oriented financial information and financial outlook information.
These forward-looking
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