Source: Nova Leap Health Corp.
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  • Nova Leap Health (NLH) released its financial results for the quarter ended June 30, 2022
  • Q2 2022 revenues were the 2nd highest in the company’s history, US$6,986,758, a 37.4 per cent relative to Q2 2021, thanks to five business acquisitions completed late last year
  • Revenues decreased by 4.2 per cent from Q1 2022 revenues of $7,296,609 due in part to the ongoing impact of COVID-19, as well as a lawsuit filed by the company in July seeking $1.2 million
  • Nova Leap Health Corp. (NLH) is down 3.80 per cent, trading at C$0.38 at 11:00 am ET

Nova Leap Health (NLH) released its financial results for the quarter ended June 30, 2022.

Q2 2022 revenues were the 2nd highest in the company’s history, US$6,986,758, a 37.4 per cent relative to Q2 2021, thanks to five business acquisitions completed late last year.

Revenues decreased by 4.2 per cent from Q1 2022 revenues of US$7,296,609 due in part to the ongoing impact of COVID-19, as well as a lawsuit filed by the company in July seeking US$1.2 million.

Adjusted EBITDA was $33,950 in Q2 2022, a decrease from US$42,974 in Q2 2021 and US$227,562 in Q1 2022.

Gross profit margin as a percentage of revenues was 35.4 per cent in Q2 2022, an increase from the gross profit margin of 34.8 per cent in Q1.

The company recorded a net loss of US$24,746 in Q2 2022 as compared to net income of US$345,470 in Q2 2021.

Nova Leap’s CEO and President, Chris Dobbin stated that the team focused on investment in its agencies to drive organic growth in Q2.

“During the quarter, management implemented additional organic growth initiatives through an expansion of service lines at select locations to include both private duty nursing and geriatric care management services. Over time, we believe these initiatives will allow us to become one of the largest providers of integrated care management and home care services in North America. The improving gross margins is indicative of the Company’s pricing power while operating in an inflationary environment.”

Nova Leap is an acquisitive home health care services company operating in one of the fastest-growing industries in the U.S. & Canada. It performs a vital role within the continuum of care with an individual and family-centered focus, particularly for those requiring dementia care.

Nova Leap Health Corp. (NLH) is down 3.80 per cent, trading at C$0.38 at 11:00 am ET.


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