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VitalHub - CEO, Dan Matlow
CEO, Dan Matlow
Source: Business & Innovation Magazine
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  • VitalHub (VHI) has filed its interim consolidated financial statements and MD&A report for the three and nine months ended September 30, 2021
  • Highlights include revenue of $6,619,047, an increase of 107 per cent from the comparative period last year
  • Gross profit as a percentage of revenue for Q3 2021 was 82 per cent
  • Adjusted EBITDA of $1,277,573, or 19 per cent of revenue
  • Vitalhub Corp is Canadian-based firm that develops technology solutions for health and human services providers
  • Vitalhub Corp. (VHI) is up 3.52 per cent on the day, trading at C$2.94 per share at 1:15 pm ET

VitalHub (VHI) has filed its interim consolidated financial statements and MD&A report for the three and nine months ended September 30, 2021.

VitalHub CEO Dan Matlow commented on the results.

“Although Q3 is traditionally a slower quarter due to the summer months, we have continued to experience strong organic growth and improved earnings year-over-year and quarter-over-quarter. Despite experiencing some extraordinary costs pertaining to our uplisting to the TSX and bank financing transaction, we have continued to see operational and financial improvement from the previous quarter. While the valuations of digital health providers have experienced multiple compression in recent months, we believe our status as a near pure SaaS-based software company differentiates us significantly, and is continually substantiated by improvements in key performance indicators and our reported financials.”

Third quarter 2021 highlights

  • Revenue of $6,619,047, an increase of $3,426,881 or 107 per cent from the comparative period last year.
  • Gross profit as a percentage of revenue for Q3 2021 was 82 per cent compared to 81 per cent in Q3 2020 and 77 per cent compared to Q2 2021.
  • ARR grew by $1,811,726 to $21,569,032, achieving 9 per cent growth in Q3 2021 versus Q2 2021.
  • ARR consists of $513,488 or 2.60% organic growth and $1,298,238 or 6.57 per cent acquisition growth in Q3 2021 versus Q2 2021.
  • Net loss of $575,792 compared to a net loss of $1,065,505 from the comparative period in the prior year.
  • EBITDA of $189,088 compared to ($419,362) from the comparative period in the prior year.
  • Adjusted EBITDA of $1,277,573, or 19 per cent of revenue, compared to $502,595 or 16% of revenue from the comparative period in the prior year.
  • On September 23, 2021 the company commenced trading on the Toronto Stock Exchange. 

Vitalhub Corp is a Canadian-based firm that develops technology solutions for health and human services providers. Vitalhub Corp. (VHI) is up 3.52 per cent on the day, trading at C$2.94 per share at 1:15 pm ET.

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