- Leveljump Healthcare Corp. (JUMP) has announced its financial results for the year ended December 31, 2021
- Operations of the company’s subsidiary, Canadian Teleradiology Services, Inc. (CTS), hit record level with $6,719,272 in revenues for 2021
- LevelJump had revenues of $1,798,993 in Q4 and $6,719,272 for the year 2021, with a net loss of $537,965 for Q4 and a net loss of $2,228,986 for the year 2021
- The company recorded EBITDA of $(298,000) for Q4 and $(338,000) for the year 2021
- Leveljump Healthcare Corp. is a B2B telehealth solutions provider
- The share price of LevelJump Healthcare Corp. (JUMP) remained unchanged at $0.14 at the close of market
Leveljump Healthcare Corp. (JUMP) has announced its financial results for the year ended December 31, 2021.
Operations of the company’s subsidiary, Canadian Teleradiology Services, Inc. (CTS), hit a record level with $6,719,272 in revenues for 2021. There was a year-over-year revenue increase of $1,263,432, an increase of 23.2 per cent.
LevelJump had revenues of $1,798,993 in Q4 and $6,719,272 for the year 2021, with a net loss of $537,965 for Q4 and a net loss of $2,228,986 for the year 2021.
Canadian Teleradiology Services (CTS) had a net profit of $148,673 in Q4 and $508,703 for the year 2021.
LevelJump recorded adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) of $(298,000) for Q4 and $(338,000) for the year 2021.
The company completed some key transactions which included private placements for gross proceeds of approximately $1.5 million and the acquisition of 3 IHF x-ray centres in Ontario for $4.3 million of which $3.2 million was financed by TD Canada Trust.
In addition, the company increased its direct and indirect ownership in Real Time Medical Inc. to 36 per cent and also increased its ownership in Shaw Vision Inc. and Shaw Lens Inc. to 34.6 per cent.
“Our negative EBITDA is primarily due to administrative costs for the parent company, stock-based compensation, legal expenses and advertising and marketing, and we expect that those costs will be reduced further in 2022,” explained Rob Landau, CFO of LevelJump.
“With the revenue stream from our acquisitions completed as well as future acquisitions, along with the growth of CTS, profits from the operating businesses will eventually overshadow the costs of maintaining the public company,” he added.
“2021 was a year of record revenues from operations – the demand for telehealth solutions is increasing,” said Mitch Geisler CEO of LevelJump.
“Our 2022 acquisitions of the IHF centres will ensure our 2022 revenues set another record for the company,” he added.
Leveljump Healthcare Corp. provides radiology solutions for hospitals, emergency rooms and private clinics.
The share price of LevelJump Healthcare Corp. (JUMP) remained unchanged at $0.14 at the close of the market.
