Q3 2024 Carebook Technologies Inc Earnings Call Transcript
Key Points
- Carebook Technologies Inc (TSXV:CRBK) maintained its margins despite lower growth in the third quarter, thanks to additional revenue from new and existing customers.
- The company continued to strengthen its pharmacy platform, benefiting clients in Ontario and Quebec.
- Carebook's employer vertical showed positive trends with successful software implementations and increased user adoption.
- The new standardized product offering is expected to appeal to small and medium businesses, potentially shortening the sales cycle.
- The company successfully renewed and amended its credit facilities, providing financial flexibility and better financing terms.
- Carebook Technologies Inc (TSXV:CRBK) experienced a slowdown in year-over-year growth, with only a 2% increase in revenue compared to the previous year.
- Pharmacy revenue is expected to decrease slightly in Q4 due to a reduction in the scope of work for a key client.
- The company recorded a one-time bad debt expense of approximately $0.1 million, impacting profitability.
- Adjusted EBITDA for the third quarter was slightly negative, with a margin of minus 1%, compared to a positive margin in the previous year.
- Net loss increased to $0.7 million for the quarter, up from $0.4 million in the same period last year, partly due to the bad debt expense.
And regulators on the plus.
The company will also make reference to certain non IFRS measures and key performance indicators under called today.
These measures are not standardized financial measures under IFRS and do not have a standardized meaning prescribed by IFRS and are therefore unlikely to be comparable to similar measures presented by other companies.
Rather, these measures are provided as additional information to complement those IFRS measures by providing further understanding of the results of operations or management's perspective.
Accordingly. These measures should not be considered in isolation nor as a substitute or analysis of the financial information reported by the company under IFRS.
You can read the cautionary notice and find out more about these measures in the company's press release this trip. I did this morning as well as your columns with canadian regulators on the plus.
After the speaker's remarks, there will be a question and answer section. If you would like to ask a question during this time, simply press star. Then
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