VANCOUVER, BC, May 11, 2022 /PRNewswire/ - WELL Health Technologies Corp. (TSX: WELL) (the "Company" or "WELL"), a digital healthcare company focused on positively impacting health outcomes by leveraging technology to empower healthcare practitioners and their patients globally, today announced its audited consolidated annual financial results and results for the fiscal first quarter ended March 31, 2022.
Hamed Shahbazi, Chairman and CEO of WELL commented, "First quarter 2022 was an exceptional quarter which exemplified our organic growth potential. We are very pleased with our Q1 results in which we surpassed half a billion in annualized run-rate revenue. We managed to achieve approximately 15% YoY organic growth in the first quarter which demonstrates a 50% acceleration from our previous quarters' organic growth rate; all this despite the effects of seasonality that normally exists in the first quarter in our US based specialist business. We witnessed strength across all segments of our business in Q1 including both primary and specialized care in both online and in-person channels. Our impressive results were driven by strong patient visits in the quarter. During Q1-2022 WELL delivered more than one million combined omni-channel, diagnostic and asynchronous patient interactions. We've added significant scale to our business and increased our leadership position as the preeminent end-to-end healthcare company in Canada, while our US businesses continue to flourish in their respective sectors. Also, WELL is a profitable business that generated $11.8 million free cash flow attributable to shareholders(4) in Q1 which is used to fund the Company's future organic and in-organic growth."
Mr. Shahbazi added, "Our outlook for the remainder of 2022 remains very positive. Despite the current geo-political, inflationary, and turbulent economic environment, the Company does not see any material influences or challenges that would impair its ability to deliver strong results in 2022. Many of the key variables inherent in the execution of WELL's business are firmly in its own grasp and not dependent on outside factors."
First Quarter 2022 Financial Highlights:
First quarter 2022 Patient Visit Metrics:
Total omni channel patient visits in Q1-2022 increased by 62% to 772,093 compared to Q1-2021 and reflected a 10% increase as compared to Q4-2021. In addition, MyHealth conducted 149,906 diagnostic visits in Q1-2022, while Wisp completed 142,988 asynchronous patient consultations. Combining WELL's omni-channel patient visits, MyHealth's diagnostic visits and Wisp's asynchronous patient consultations, WELL achieved a total of 1,064,987 patient interactions in Q1-2022, representing an annual run-rate of 4.26 million patient interactions.
First quarter 2022 Business Highlights:
Events Subsequent to March 31, 2022:
WELL's outlook for 2022 remains strong and resilient. To date, WELL's performance in Q2 continues to be very positive across all its business units and for the entire Company as a whole. The cash flows generated by the Company will continue to be re-invested in the business and allocated in a disciplined manner, which may come in the form of further acquisitions, share repurchases, or to accelerate organic growth.
As a result of WELL's healthy organic growth, the Company is increasing its guidance for 2022 annual revenue to exceed $525 million, from the previous guidance of over $500 million in annual revenue. Furthermore, WELL expects to generate Adjusted EBITDA approaching $100 million in 2022 and the Company expects to be profitable for the full year 2022, on an Adjusted Net Income basis.
In Canada, WELL is quickly expanding on what it has built - the most consequential network of non-governmental healthcare assets across the country with significant operations and interoperability between its outpatient clinics, EMR, Diagnostics and Telehealth businesses.
Meanwhile, WELL's strategy in the US is to focus on key specialty areas such as: Gastroenterology, Women's health, and Primary care with a focus on specialty niches such as mental health. WELL's US-based virtual patient services businesses, which includes Circle Medical and Wisp, continued to demonstrate robust growth in Q1-2022. Based on March 2022 results, the combined businesses generated positive Adjusted EBITDA3 with the revenue run-rate exceeding $100 million. It is expected that the combined businesses will exceed $130 million on a revenue run-rate basis later this year.
WELL is a well-diversified, fast growing digital health and tech enabled healthcare company delivering on a strong ESG (Environmental, Social and Governance) program and building societal value. WELL is a purpose-driven business that aims to transform the world for the better, as such the Company has embarked on an ongoing ESG program. The Company plans on publishing a report in the coming weeks highlighting WELL's ESG strategy, reporting initiatives and targeted actions.
Conference Call:
WELL will hold a conference call to discuss its 2022 First Quarter financial results on Thursday, May 12, 2022, at 1:00 pm ET (10:00 am PT). Please use the following dial-in numbers: +1-416-764-8650 (Toronto local and International), 778-383-7413 (Vancouver local), 1-888-664-6383 (Toll-Free), with Conference ID: 57493220.
The conference call will also be simultaneously webcast and can be accessed at the following audience URL: https://www.well.company/for-investors/events/
Selected Unaudited Financial Highlights:
Please see SEDAR for complete copies of the Company's consolidated financial statements and MD&A for the three months ended March 31, 2022.
restated |
restated |
||
Three |
Three |
Three |
|
$ '000 |
$ '000 |
$ '000 |
|
Revenue |
126,508 |
115,680 |
25,560 |
Cost of sales (excluding depreciation and amortization) |
(57,120) |
(52,197) |
(15,521) |
Adjusted gross profit(1) |
69,388 |
63,483 |
10,039 |
Adjusted gross margin(1) |
54.8% |
54.9% |
39.3% |
Adjusted EBITDA(2) |
23,493 |
25,679 |
527 |
Net (loss)/income |
(2,310) |
(4,181) |
(7,520) |
Adjusted net income (loss) (3) |
8,648 |
9,754 |
(2,404) |
Net (loss) income per share, basic and diluted (in $) |
(0.04) |
(0.05) |
(0.05) |
Adjusted Net (loss)/income per share, basic and diluted (in $) (3) |
0.04 |
0.05 |
(0.01) |
Weighted average number of common shares outstanding, basic and diluted |
210,014,960 |
208,101,672 |
163,123,252 |
Weighted average number of common shares outstanding, diluted |
187,778,646 |
187,778,646 |
126,181,778 |
Reconciliation of net loss to Adjusted EBITDA(2) |
|||
Net (loss)/income for the period |
(2,310) |
(4,181) |
(7,520) |
Depreciation and amortization |
12,739 |
13,324 |
2,029 |
Income tax expense (recovery) |
2,123 |
1,448 |
215 |
Interest income |
(102) |
(69) |
(320) |
Interest expense |
5,154 |
4,059 |
458 |
Rent expense on finance leases |
(2,152) |
(1,899) |
(810) |
Stock-based compensation |
5,139 |
4,263 |
2,993 |
Foreign exchange (gain) loss |
(41) |
282 |
11 |
Time-based earn-out expense |
2,521 |
1,805 |
891 |
Change in fair value of investments |
(602) |
- |
- |
Share of net loss of associates |
148 |
56 |
64 |
Revenue precluded from recognition under IFRS 15 |
- |
3,110 |
- |
Transaction, restructuring, & integration costs expensed |
876 |
3,481 |
2,516 |
Adjusted EBITDA(2) |
23,493 |
25,679 |
527 |
Attributable to WELL shareholders |
16,096 |
17,811 |
463 |
Attributable to Non-controlling interests |
7,397 |
7,868 |
64 |
Adjusted EBITDA(2) |
|||
Canada and others |
1,484 |
1,177 |
1,111 |
US operations |
22,009 |
24,502 |
(584) |
Adjusted EBITDA(2) attributable to WELL shareholders |
|||
Canada and others |
1,295 |
955 |
870 |
US operations |
14,801 |
16,856 |
(407) |
Adjusted EBITDA(2) attributable to Non-controlling interests |
|||
Canada and others |
189 |
222 |
241 |
US operations |
7,208 |
7,646 |
(177) |
Reconciliation of net loss to Adjusted Net Income/(loss) (3) |
|||
Net (loss)/income for the period |
(2,310) |
(4,181) |
(7,520) |
Amortization of intangible assets |
9,609 |
9,942 |
1,186 |
Time-based earn-out expense |
2,521 |
1,805 |
891 |
Stock-based compensation |
5,139 |
4,263 |
2,993 |
Change in fair value of investments |
(602) |
- |
- |
Non-controlling interest included in net income |
(5,709) |
(5,185) |
46 |
Revenue precluded from recognition under IFRS 15 |
- |
3,110 |
- |
Adjusted Net Income/(loss) (3) |
8,648 |
9,754 |
(2,404) |
Adjusted Net Income (loss) per share (3) |
0.04 |
0.05 |
(0.01) |
Notes: |
|
(1) |
Non-GAAP financial measure and ratio. Adjusted gross profit and adjusted gross margin do not have any standardized meaning under IFRS and therefore may not be comparable to similar measures presented by other issuers. The Company defines adjusted gross profit as revenue less cost of sales (excluding depreciation and amortization) and adjusted gross margin as adjusted gross profit as a percentage of revenue. Adjusted gross profit and adjusted gross margin should not be construed as an alternative for revenue or net loss determined in accordance with IFRS. The Company does not present gross profit in the financial statements as it is a non-GAAP financial measure. The Company believes that adjusted gross profit and adjusted gross margin are meaningful metrics that are often used by readers to measure the Company's efficiency of selling its products and services. |
(2) |
Non-GAAP financial measure. Earnings before interest, taxes, depreciation and amortization ("EBITDA") and Adjusted EBITDA should not be construed as alternatives to net income/loss determined in accordance with IFRS. EBITDA and Adjusted EBITDA do not have any standardized meaning under IFRS and therefore may not be comparable to similar measures presented by other issuers. The Company defines Adjusted EBITDA as EBITDA (i) less net rent expense on premise leases considered to be finance leases under IFRS and (ii) before transaction, restructuring, and integration costs, time-based earn-out expense, change in fair value of investments, share of loss of associates, foreign exchange gain/loss, and stock-based compensation expense, and (iii) Revenue precluded from recognition under IFRS 15 that relates to certain patient services revenue that the Company believes should be recognized as revenue based on its contractual relationships. For the three months ended December 31, 2021, the Company was precluded from recognizing certain potential patient services revenue under IFRS 15 - Revenue from contracts with customers. The Company determined that there was insufficient certainty regarding a customer's intent to pay $3,110 and therefore did not recognize the revenue. The Company will recognize these amounts as revenue only if and when they are ultimately collected. The Company considers Adjusted EBITDA a financial metric that measures cash that the Company can use to fund working capital requirements, service future interest and principal debt repayments and fund future growth initiatives. |
(3) |
Non-GAAP financial measure and ratio. The Company defines Adjusted Net Income as net income, after excluding the effects of stock-based compensation expense, amortization of acquired intangibles, time-based earnout expense, change in fair value of investments, non-controlling interests, and revenue precluded from recognition under IFRS 15 that relates to certain patient services revenue that the Company believes should be recognized as revenue based on its contractual relationships. For the three months ended December 31, 2021, the Company was precluded from recognizing certain potential patient services revenue under IFRS 15 - Revenue from contracts with customers. IFRS 15 requires that certain conditions be met in order to recognize revenue, including that it is probable that the Company will collect the amount recognized, which is based upon a customer's ability and intention to pay. The Company determined that there was insufficient certainty regarding a customer's intent to pay $3,110 and therefore did not recognize the revenue. The Company has an agreement setting fixed reimbursement rates for the provision of anesthesia services for which collections have not been received as a result of what the Company believes to be an administrative issue. Adjusted Net Income Per Share is Adjusted Net Income dividend by weighted average number of shares outstanding. The Company believes that these non-GAAP financial measure and ratio provide useful information to analyze our results, enhance a reader's understanding of past financial performance and allow for greater understanding with respect to key metrics used my management in decision making. More specifically, WELL believes Adjusted Net Income is a financial metric that tracks the earning power of the business that is available to WELL shareholders. Adjusted Net income and Adjusted Net income Per Share are not recognized measure and ratio for financial statement presentation under IFRS and do not have a standardized meaning. As such, these measures may not be comparable to similar measures or ratios presented by other companies. Adjusted Net Income and Adjusted Net Income Per Share should be considered a supplement to, and not as a substitute for, or superior to, the corresponding measures calculated in accordance with IFRS. |
(4) |
Non-GAAP financial measure and ratio. The Company defines Free Cash Flow Attributable to Shareholders as Adjusted EBITDA Attributable to Shareholders, less cash interest, less cash taxes and less capital expenditures. |
WELL HEALTH TECHNOLOGIES CORP.
Per: "Hamed Shahbazi"Hamed ShahbaziChief Executive Officer, Chairman and Director
About WELL Health Technologies Corp.
WELL is a practitioner focused digital healthcare company whose overarching objective is to positively impact health outcomes to empower and support healthcare practitioners and their patients. WELL has built an innovative practitioner enablement platform that includes comprehensive end-to-end practice management tools inclusive of virtual care and digital patient engagement capabilities as well as Electronic Medical Records (EMR), Revenue Cycle Management (RCM) and data protection services. WELL uses this platform to power healthcare practitioners both inside and outside of WELL's own omni-channel patient services offerings. As such, WELL owns and operates Canada's largest network of outpatient medical clinics serving primary and specialized healthcare services and is the provider of a leading multi-national, multi-disciplinary telehealth offering. WELL is publicly traded on the Toronto Stock Exchange under the symbol "WELL" and is part of the TSX Composite Index. To learn more about the Company, please visit: www.well.company.
Forward-Looking Statements
This news release may contain "Forward-Looking Information" within the meaning of applicable Canadian securities laws, including, without limitation: information regarding the Company's goals, strategies and growth plans; expectations regarding continued revenue and EBITDA growth; the expected benefits and synergies of completed acquisitions; capital allocation plans in the form of more acquisitions or share repurchases; the expected financial performance as well as information in the "Outlook" section herein. Forward-Looking Information are necessarily based upon a number of estimates and assumptions that, while considered reasonable by management, are inherently subject to significant business, economic and competitive uncertainties, and contingencies. Forward-Looking Information generally can be identified by the use of forward-looking words such as "may", "should", "will", "could", "intend", "estimate", "plan", "anticipate", "expect", "believe" or "continue", or the negative thereof or similar variations. Forward-Looking Information involve known and unknown risks, uncertainties and other factors that may cause future results, performance, or achievements to be materially different from the estimated future results, performance or achievements expressed or implied by the Forward-Looking Information and the Forward-Looking Information are not guarantees of future performance. WELL's comments expressed or implied by such Forward-Looking Information are subject to a number of risks, uncertainties, and conditions, many of which are outside of WELL 's control, and undue reliance should not be placed on such information. Forward-Looking Information are qualified in their entirety by inherent risks and uncertainties, including: direct and indirect material adverse effects from the COVID-19 pandemic; adverse market conditions; risks inherent in the primary healthcare sector in general; regulatory and legislative changes; that future results may vary from historical results; inability to obtain any requisite future financing on suitable terms; any inability to realize the expected benefits and synergies of acquisitions; that market competition may affect the business, results and financial condition of WELL and other risk factors identified in documents filed by WELL under its profile at www.sedar.com, including its most recent Annual Information Form. Except as required by securities law, WELL does not assume any obligation to update or revise any forward-looking information, whether as a result of new information, events or otherwise.
This news release contains future-oriented financial information and financial outlook information (collectively, "FOFI") about estimated annual run-rate revenue and Adjusted EBIDTA, all of which are subject to the same assumptions, risk factors, limitations, and qualifications as set out in the above paragraph. The actual financial results of WELL may vary from the amounts set out herein and such variation may be material. WELL and its management believe that the FOFI has been prepared on a reasonable basis, reflecting management's best estimates and judgments. However, because this information is subjective and subject to numerous risks, it should not be relied on as necessarily indicative of future results. Except as required by applicable securities laws, WELL undertakes no obligation to update such FOFI. FOFI contained in this news release was made as of the date hereof and was provided for the purpose of providing further information about WELL's anticipated future business operations on an annual basis. Readers are cautioned that the FOFI contained in this news release should not be used for purposes other than for which it is disclosed herein.
Neither the TSX nor its Regulation Services Provider (as that term is defined in policies of the TSX) accepts responsibility for the adequacy or accuracy of this release.
SOURCE WELL Health Technologies Corp.
ВАНКУВЕР, Британская Колумбия, 11 мая 2022 г. /PRNewswire/ - WELL Health Technologies Corp. (TSX: WELL) ("Компания" или "WELL"), компания цифрового здравоохранения, специализирующаяся на позитивном влиянии на состояние здоровья путем использования технологий для расширения возможностей практикующих врачей и их пациентов по всему миру, сегодня объявила о своих аудированных консолидированных годовых финансовых результатах и результатах за первый финансовый квартал, закончившийся 31 марта 2022 года.
Хамед Шахбази, председатель и главный исполнительный директор WELL, прокомментировал: "Первый квартал 2022 года был исключительным кварталом, который продемонстрировал наш потенциал органического роста. Мы очень довольны нашими результатами за 1 квартал, по которым годовой доход превысил полмиллиарда долларов. Нам удалось добиться органического роста примерно на 15% в годовом исчислении в первом квартале, что демонстрирует ускорение на 50% по сравнению с темпами органического роста в предыдущих кварталах; и все это, несмотря на влияние сезонности, которое обычно наблюдается в первом квартале в нашем специализированном бизнесе в США. В первом квартале мы стали свидетелями роста во всех сегментах нашего бизнеса, включая как первичную, так и специализированную медицинскую помощь как онлайн, так и очно. Наши впечатляющие результаты были обусловлены большим количеством посещений пациентов в этом квартале. В течение 1 квартала 2022 года WELL обеспечила более миллиона комбинированных многоканальных, диагностических и асинхронных взаимодействий с пациентами. Мы значительно расширили масштабы нашего бизнеса и укрепили наши лидирующие позиции в качестве ведущей комплексной медицинской компании в Канаде, в то время как наши предприятия в США продолжают процветать в своих соответствующих секторах. Кроме того, WELL - прибыльный бизнес, который в 1 квартале принес акционерам свободный денежный поток в размере 11,8 млн долларов (4), который используется для финансирования будущего органического и неорганического роста Компании".
Г-н Шахбази добавил: "Наш прогноз на оставшуюся часть 2022 года остается очень позитивным. Несмотря на текущую геополитическую, инфляционную и неспокойную экономическую обстановку, Компания не видит каких-либо существенных воздействий или проблем, которые могли бы повлиять на ее способность добиваться высоких результатов в 2022 году. Многие из ключевых переменных, присущих ведению бизнеса WELL, находятся в ее собственном ведении и не зависят от внешних факторов".
Основные финансовые показатели Первого квартала 2022 года:
Показатели посещений пациентов в первом квартале 2022 года:
Общее количество посещений пациентов по омниканалу в 1 квартале 2022 года увеличилось на 62% до 772 093 по сравнению с 1 кварталом 2021 года и отражает увеличение на 10% по сравнению с 4 кварталом 2021 года. Кроме того, MyHealth провела 149 906 диагностических посещений в 1 квартале 2022 года, в то время как Wisp завершила 142 988 асинхронных консультаций с пациентами. Объединяя многоканальные визиты пациентов WELL, диагностические визиты MyHealth и асинхронные консультации пациентов Wisp, WELL обеспечила в общей сложности 1 064 987 взаимодействий с пациентами в 1 квартале 2022 года, что составляет 4,26 миллиона взаимодействий с пациентами в год.
Основные бизнес-события первого квартала 2022 года:
События, произошедшие после 31 марта 2022 года:
Прогноз WELL на 2022 год остается сильным и устойчивым. На сегодняшний день показатели WELL во 2 квартале продолжают оставаться очень положительными во всех ее бизнес-подразделениях и для всей Компании в целом. Денежные потоки, генерируемые Компанией, будут по-прежнему реинвестироваться в бизнес и распределяться дисциплинированным образом, что может быть в форме дальнейших приобретений, выкупа акций или ускорения органического роста.
В результате здорового органического роста WELL Компания увеличивает свой прогноз на 2022 год, чтобы годовой доход превысил 525 миллионов долларов по сравнению с предыдущим прогнозом в размере более 500 миллионов долларов годового дохода. Кроме того, WELL ожидает, что скорректированная EBITDA приблизится к 100 миллионам долларов в 2022 году, и Компания ожидает, что будет прибыльной в течение всего 2022 года на основе скорректированной чистой прибыли.
В Канаде WELL быстро расширяет то, что она создала, - самую значимую сеть неправительственных медицинских активов по всей стране со значительными операциями и взаимодействием между ее амбулаторными клиниками, EMR, диагностическими и телемедицинскими предприятиями.
Между тем стратегия WELL's в США заключается в том, чтобы сосредоточиться на ключевых специализированных областях, таких как: Гастроэнтерология, здоровье женщин и первичная медицинская помощь, с акцентом на специализированные ниши, такие как психическое здоровье. Базирующийся в США бизнес WELL по оказанию виртуальных услуг пациентам, в который входят Circle Medical и Wisp, продолжил демонстрировать уверенный рост в 1 квартале 2022 года. Основываясь на результатах марта 2022 года, объединенные предприятия получили положительный скорректированный показатель EBITDA3, а показатель выручки превысил 100 миллионов долларов. Ожидается, что в конце этого года совокупный доход компаний превысит 130 миллионов долларов.
WELL - это хорошо диверсифицированная, быстрорастущая компания в области цифрового здравоохранения и высокотехнологичного здравоохранения, реализующая мощную программу ESG (Экологическая, социальная и управленческая) и создающая общественную ценность. WELL - это целенаправленный бизнес, который стремится изменить мир к лучшему, поэтому компания приступила к постоянной программе ESG. Компания планирует опубликовать отчет в ближайшие недели, в котором будет освещена стратегия WELL в области ESG, инициативы по отчетности и целевые действия.
Конференц-связь:
WELL проведет телефонную конференцию, чтобы обсудить свои финансовые результаты за первый квартал 2022 года в четверг, 12 мая 2022 года, в 13:00 по восточному времени (10:00 утра по североамериканскому времени). Пожалуйста, используйте следующие телефонные номера: +1-416-764-8650 (местный и международный в Торонто), 778-383-7413 (местный в Ванкувере), 1-888-664-6383 (звонок бесплатный), с идентификатором конференции: 57493220.
Конференц-связь также будет одновременно транслироваться в Интернете, и доступ к ней можно получить по следующему URL-адресу аудитории: https://www.well.company/for-investors/events/
Избранные Неаудированные Финансовые показатели:
Пожалуйста, ознакомьтесь с SEDAR для получения полных копий консолидированной финансовой отчетности Компании и MD&A за три месяца, закончившихся 31 марта 2022 года.
restated |
restated |
||
Three |
Three |
Three |
|
$ '000 |
$ '000 |
$ '000 |
|
Revenue |
126,508 |
115,680 |
25,560 |
Cost of sales (excluding depreciation and amortization) |
(57,120) |
(52,197) |
(15,521) |
Adjusted gross profit(1) |
69,388 |
63,483 |
10,039 |
Adjusted gross margin(1) |
54.8% |
54.9% |
39.3% |
Adjusted EBITDA(2) |
23,493 |
25,679 |
527 |
Net (loss)/income |
(2,310) |
(4,181) |
(7,520) |
Adjusted net income (loss) (3) |
8,648 |
9,754 |
(2,404) |
Net (loss) income per share, basic and diluted (in $) |
(0.04) |
(0.05) |
(0.05) |
Adjusted Net (loss)/income per share, basic and diluted (in $) (3) |
0.04 |
0.05 |
(0.01) |
Weighted average number of common shares outstanding, basic and diluted |
210,014,960 |
208,101,672 |
163,123,252 |
Weighted average number of common shares outstanding, diluted |
187,778,646 |
187,778,646 |
126,181,778 |
Reconciliation of net loss to Adjusted EBITDA(2) |
|||
Net (loss)/income for the period |
(2,310) |
(4,181) |
(7,520) |
Depreciation and amortization |
12,739 |
13,324 |
2,029 |
Income tax expense (recovery) |
2,123 |
1,448 |
215 |
Interest income |
(102) |
(69) |
(320) |
Interest expense |
5,154 |
4,059 |
458 |
Rent expense on finance leases |
(2,152) |
(1,899) |
(810) |
Stock-based compensation |
5,139 |
4,263 |
2,993 |
Foreign exchange (gain) loss |
(41) |
282 |
11 |
Time-based earn-out expense |
2,521 |
1,805 |
891 |
Change in fair value of investments |
(602) |
- |
- |
Share of net loss of associates |
148 |
56 |
64 |
Revenue precluded from recognition under IFRS 15 |
- |
3,110 |
- |
Transaction, restructuring, & integration costs expensed |
876 |
3,481 |
2,516 |
Adjusted EBITDA(2) |
23,493 |
25,679 |
527 |
Attributable to WELL shareholders |
16,096 |
17,811 |
463 |
Attributable to Non-controlling interests |
7,397 |
7,868 |
64 |
Adjusted EBITDA(2) |
|||
Canada and others |
1,484 |
1,177 |
1,111 |
US operations |
22,009 |
24,502 |
(584) |
Adjusted EBITDA(2) attributable to WELL shareholders |
|||
Canada and others |
1,295 |
955 |
870 |
US operations |
14,801 |
16,856 |
(407) |
Adjusted EBITDA(2) attributable to Non-controlling interests |
|||
Canada and others |
189 |
222 |
241 |
US operations |
7,208 |
7,646 |
(177) |
Reconciliation of net loss to Adjusted Net Income/(loss) (3) |
|||
Net (loss)/income for the period |
(2,310) |
(4,181) |
(7,520) |
Amortization of intangible assets |
9,609 |
9,942 |
1,186 |
Time-based earn-out expense |
2,521 |
1,805 |
891 |
Stock-based compensation |
5,139 |
4,263 |
2,993 |
Change in fair value of investments |
(602) |
- |
- |
Non-controlling interest included in net income |
(5,709) |
(5,185) |
46 |
Revenue precluded from recognition under IFRS 15 |
- |
3,110 |
- |
Adjusted Net Income/(loss) (3) |
8,648 |
9,754 |
(2,404) |
Adjusted Net Income (loss) per share (3) |
0.04 |
0.05 |
(0.01) |
Notes: |
|
(1) |
Non-GAAP financial measure and ratio. Adjusted gross profit and adjusted gross margin do not have any standardized meaning under IFRS and therefore may not be comparable to similar measures presented by other issuers. The Company defines adjusted gross profit as revenue less cost of sales (excluding depreciation and amortization) and adjusted gross margin as adjusted gross profit as a percentage of revenue. Adjusted gross profit and adjusted gross margin should not be construed as an alternative for revenue or net loss determined in accordance with IFRS. The Company does not present gross profit in the financial statements as it is a non-GAAP financial measure. The Company believes that adjusted gross profit and adjusted gross margin are meaningful metrics that are often used by readers to measure the Company's efficiency of selling its products and services. |
(2) |
Non-GAAP financial measure. Earnings before interest, taxes, depreciation and amortization ("EBITDA") and Adjusted EBITDA should not be construed as alternatives to net income/loss determined in accordance with IFRS. EBITDA and Adjusted EBITDA do not have any standardized meaning under IFRS and therefore may not be comparable to similar measures presented by other issuers. The Company defines Adjusted EBITDA as EBITDA (i) less net rent expense on premise leases considered to be finance leases under IFRS and (ii) before transaction, restructuring, and integration costs, time-based earn-out expense, change in fair value of investments, share of loss of associates, foreign exchange gain/loss, and stock-based compensation expense, and (iii) Revenue precluded from recognition under IFRS 15 that relates to certain patient services revenue that the Company believes should be recognized as revenue based on its contractual relationships. For the three months ended December 31, 2021, the Company was precluded from recognizing certain potential patient services revenue under IFRS 15 - Revenue from contracts with customers. The Company determined that there was insufficient certainty regarding a customer's intent to pay $3,110 and therefore did not recognize the revenue. The Company will recognize these amounts as revenue only if and when they are ultimately collected. The Company considers Adjusted EBITDA a financial metric that measures cash that the Company can use to fund working capital requirements, service future interest and principal debt repayments and fund future growth initiatives. |
(3) |
Non-GAAP financial measure and ratio. The Company defines Adjusted Net Income as net income, after excluding the effects of stock-based compensation expense, amortization of acquired intangibles, time-based earnout expense, change in fair value of investments, non-controlling interests, and revenue precluded from recognition under IFRS 15 that relates to certain patient services revenue that the Company believes should be recognized as revenue based on its contractual relationships. For the three months ended December 31, 2021, the Company was precluded from recognizing certain potential patient services revenue under IFRS 15 - Revenue from contracts with customers. IFRS 15 requires that certain conditions be met in order to recognize revenue, including that it is probable that the Company will collect the amount recognized, which is based upon a customer's ability and intention to pay. The Company determined that there was insufficient certainty regarding a customer's intent to pay $3,110 and therefore did not recognize the revenue. The Company has an agreement setting fixed reimbursement rates for the provision of anesthesia services for which collections have not been received as a result of what the Company believes to be an administrative issue. Adjusted Net Income Per Share is Adjusted Net Income dividend by weighted average number of shares outstanding. The Company believes that these non-GAAP financial measure and ratio provide useful information to analyze our results, enhance a reader's understanding of past financial performance and allow for greater understanding with respect to key metrics used my management in decision making. More specifically, WELL believes Adjusted Net Income is a financial metric that tracks the earning power of the business that is available to WELL shareholders. Adjusted Net income and Adjusted Net income Per Share are not recognized measure and ratio for financial statement presentation under IFRS and do not have a standardized meaning. As such, these measures may not be comparable to similar measures or ratios presented by other companies. Adjusted Net Income and Adjusted Net Income Per Share should be considered a supplement to, and not as a substitute for, or superior to, the corresponding measures calculated in accordance with IFRS. |
(4) |
Non-GAAP financial measure and ratio. The Company defines Free Cash Flow Attributable to Shareholders as Adjusted EBITDA Attributable to Shareholders, less cash interest, less cash taxes and less capital expenditures. |
well health technologies corp.
По: "Хамед Шахбази"Хамед Шахбазичиф Исполнительный директор, Председатель и директор
О компании WELL Health Technologies Corp.
WELL - это ориентированная на практикующих специалистов компания в области цифрового здравоохранения, главной целью которой является положительное влияние на результаты в области здравоохранения для расширения возможностей и поддержки практикующих врачей и их пациентов. Компания WELL создала инновационную платформу поддержки практикующих врачей, которая включает в себя комплексные инструменты управления практикой, включающие возможности виртуального ухода и цифрового взаимодействия с пациентами, а также Электронные медицинские записи (EMR), Управление циклом доходов (RCM) и услуги по защите данных. WELL использует эту платформу для оказания помощи практикующим врачам как внутри, так и за пределами собственных многоканальных услуг для пациентов, предлагаемых WELL. Таким образом, WELL владеет и управляет крупнейшей в Канаде сетью амбулаторных медицинских клиник, предоставляющих первичные и специализированные медицинские услуги, и является поставщиком ведущего многонационального, многопрофильного телемедицинского предложения. WELL публично торгуется на фондовой бирже Торонто под символом "WELL" и является частью сводного индекса TSX. Чтобы узнать больше о Компании, пожалуйста, посетите: www.well.company .
Прогнозные заявления
Этот пресс-релиз может содержать "Прогнозную информацию" по смыслу применимого канадского законодательства о ценных бумагах, включая, помимо прочего: информацию о целях, стратегиях и планах роста Компании; ожидания относительно дальнейшего роста выручки и EBITDA; ожидаемые выгоды и синергия от завершенных приобретений; планы распределения капитала в форме о новых приобретениях или выкупе акций; ожидаемые финансовые показатели, а также информация в разделе "Перспективы" здесь. Прогнозная информация обязательно основывается на ряде оценок и допущений, которые, хотя и считаются разумными руководством, по своей сути подвержены значительным деловым, экономическим и конкурентным неопределенностям, а также непредвиденным обстоятельствам. Прогнозная информация обычно может быть идентифицирована с помощью прогнозных слов, таких как "может", "должен", "будет", "может", "намереваться", "оценивать", "планировать", "предвидеть", "ожидать", "верить" или "продолжать", или его отрицательный результат, или аналогичные варианты. Прогнозная информация включает известные и неизвестные риски, неопределенности и другие факторы, которые могут привести к тому, что будущие результаты, показатели или достижения будут существенно отличаться от предполагаемых будущих результатов, показателей или достижений, выраженных или подразумеваемых Прогнозной информацией, а Прогнозная информация не является гарантией будущих результатов. Комментарии WELL, выраженные или подразумеваемые такой Прогнозной информацией, подвержены ряду рисков, неопределенностей и условий, многие из которых находятся вне контроля WELL, и не следует чрезмерно полагаться на такую информацию. Прогнозная информация в целом квалифицируется присущими ей рисками и неопределенностями, включая: прямые и косвенные существенные неблагоприятные последствия пандемии COVID-19; неблагоприятные рыночные условия; риски, присущие сектору первичной медико-санитарной помощи в целом; изменения в законодательстве и законодательстве; что будущие результаты могут отличаться от исторических результатов; невозможность получить любое необходимое финансирование в будущем на подходящих условиях; любая неспособность реализовать ожидаемые выгоды и синергию приобретений; что рыночная конкуренция может повлиять на бизнес, результаты и финансовое состояние WELL и другие факторы риска, указанные в документах, представленных WELL в соответствии с ее профилем на www.sedar.com , включая его самую последнюю Годовую Информационную форму. За исключением случаев, предусмотренных законом о ценных бумагах, WELL не берет на себя никаких обязательств по обновлению или пересмотру какой-либо прогнозной информации, будь то в результате новой информации, событий или иным образом.
Этот пресс-релиз содержит ориентированную на будущее финансовую информацию и информацию о финансовых перспективах (совместно именуемую "FOFI") о предполагаемом годовом доходе и скорректированном EBIDTA, все из которых основаны на тех же допущениях, факторах риска, ограничениях и требованиях, как указано в предыдущем параграфе. Фактические финансовые результаты WELL могут отличаться от сумм, указанных в настоящем документе, и такие различия могут быть существенными. WELL и ее руководство считают, что FOFI был подготовлен на разумной основе, отражая наилучшие оценки и суждения руководства. Однако, поскольку эта информация является субъективной и подвержена многочисленным рискам, на нее не следует полагаться как на обязательный показатель будущих результатов. За исключением случаев, предусмотренных применимым законодательством о ценных бумагах, WELL не берет на себя никаких обязательств по обновлению такого FOFI. FOFI, содержащийся в этом пресс-релизе, был составлен на дату настоящего документа и был предоставлен с целью предоставления дополнительной информации о предполагаемых будущих деловых операциях WELL на ежегодной основе. Обращаем внимание читателей на то, что FOFI, содержащийся в этом пресс-релизе, не должен использоваться для иных целей, кроме тех, для которых он раскрыт здесь.
Ни TSX, ни его Поставщик услуг регулирования (как этот термин определен в политике TSX) не несут ответственности за адекватность или точность этого выпуска.
ИСТОЧНИК WELL Health Technologies Corp.
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