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Jack Nathan Health (JNHMF) reported Q3 fiscal 2025 results with revenue growth of 16% year-to-date, reaching $15.9M compared to $13.7M in 2023. The company’s Mexican operations, which added 7 new clinics during Q3 bringing the total to 168 corporate-owned clinics, drove this growth. Clinic operations generated 89% of total revenues at $4.7M for Q3.
The company reported an operating loss of $4.5M for the nine months ended October 31, 2024, up from $3.8M in 2023. Post-quarter, the company completed the sale of its Canadian operations to WELL Health Technologies for $5M, resulting in the elimination of over $15M in debt owed to Wal-Mart Canada Corp. The company now focuses on Mexican operations and MedSpa sector expansion.
Jack Nathan Health (JNHMF) ha riportato i risultati del terzo trimestre dell’esercizio fiscale 2025, con una crescita dei ricavi del 16% dall’inizio dell’anno, raggiungendo $15,9 milioni rispetto ai $13,7 milioni del 2023. Le operazioni dell’azienda in Messico, che hanno aggiunto 7 nuove cliniche durante il terzo trimestre portando il totale a 168 cliniche di proprietà aziendale, hanno fornito un contributo significativo a questa crescita. Le operazioni cliniche hanno generato l’89% dei ricavi totali, pari a $4,7 milioni per il terzo trimestre.
L’azienda ha registrato una perdita operativa di $4,5 milioni per i nove mesi conclusi il 31 ottobre 2024, in aumento rispetto ai $3,8 milioni del 2023. Dopo il trimestre, l’azienda ha completato la vendita delle sue operazioni canadesi a WELL Health Technologies per $5 milioni, con conseguente eliminazione di oltre $15 milioni di debiti verso Wal-Mart Canada Corp. L’azienda ora si concentra sulle operazioni messicane e sull’espansione nel settore MedSpa.
Jack Nathan Health (JNHMF) informó los resultados del tercer trimestre del ejercicio fiscal 2025, con un crecimiento de ingresos del 16% en lo que va del año, alcanzando $15,9 millones en comparación con $13,7 millones en 2023. Las operaciones de la empresa en México, que añadieron 7 nuevas clínicas durante el tercer trimestre, llevando el total a 168 clínicas de propiedad corporativa, impulsaron este crecimiento. Las operaciones clínicas generaron el 89% de los ingresos totales, que ascienden a $4,7 millones para el tercer trimestre.
La empresa reportó una pérdida operativa de $4,5 millones para los nueve meses que terminaron el 31 de octubre de 2024, en comparación con $3,8 millones en 2023. Después del trimestre, la empresa completó la venta de sus operaciones en Canadá a WELL Health Technologies por $5 millones, lo que resultó en la eliminación de más de $15 millones en deudas a Wal-Mart Canada Corp. La empresa ahora se centra en las operaciones en México y en la expansión del sector MedSpa.
Jack Nathan Health (JNHMF)는 2025 회계연도 3분기 결과를 발표하며, 올해 누적 수익이 16% 증가하여 1,590만 달러에 도달했으며, 이는 2023년의 1,370만 달러와 비교됩니다. 회사의 멕시코 운영은 3분기에 7개의 새로운 클리닉을 추가하여 총 168개의 법인 소속 클리닉을 보유하게 되었고, 이로 인해 성장이 촉진되었습니다. 3분기 클리닉 운영은 총 수익의 89%인 470만 달러를 생성했습니다.
회사는 2024년 10월 31일 종료된 9개월 동안 운영 손실을 450만 달러로 보고했으며, 이는 2023년의 380만 달러에서 증가한 수치입니다. 분기 후, 회사는 WELL Health Technologies에 캐나다 운영을 500만 달러에 매각하는 계약을 완료하였고, 이를 통해 Wal-Mart Canada Corp.에 대한 1,500만 달러 이상의 부채를 제거했습니다. 회사는 이제 멕시코 운영과 MedSpa 부문의 확장에 집중하고 있습니다.
Jack Nathan Health (JNHMF) a annoncé les résultats du troisième trimestre de l’exercice fiscal 2025, avec une croissance des revenus de 16% depuis le début de l’année, atteignant 15,9 millions de dollars contre 13,7 millions de dollars en 2023. Les opérations de l’entreprise au Mexique, qui ont ajouté 7 nouvelles cliniques durant le troisième trimestre, portant le total à 168 cliniques détenues par la société, ont stimulé cette croissance. Les opérations cliniques ont généré 89% des revenus totaux, soit 4,7 millions de dollars pour le troisième trimestre.
L’entreprise a enregistré une perte opérationnelle de 4,5 millions de dollars pour les neuf mois se terminant le 31 octobre 2024, contre 3,8 millions de dollars en 2023. Après le trimestre, l’entreprise a finalisé la vente de ses opérations canadiennes à WELL Health Technologies pour 5 millions de dollars, ce qui a entraîné l’élimination de plus de 15 millions de dollars de dettes envers Wal-Mart Canada Corp. L’entreprise se concentre désormais sur les opérations mexicaines et sur l’expansion du secteur MedSpa.
Jack Nathan Health (JNHMF) hat die Ergebnisse des dritten Quartals des Geschäftsjahres 2025 bekannt gegeben, mit einem Umsatzwachstum von 16% von Jahresbeginn bis jetzt und einem Erreichen von 15,9 Millionen US-Dollar im Vergleich zu 13,7 Millionen US-Dollar im Jahr 2023. Der Umsatzwachstum wurde durch die mexikanischen Aktivitäten des Unternehmens vorangetrieben, das während des dritten Quartals 7 neue Kliniken eröffnete und nun insgesamt 168 eigenen Kliniken hat. Die Klinikbetriebe trugen 89% der Gesamteinnahmen mit 4,7 Millionen US-Dollar für das dritte Quartal bei.
Das Unternehmen berichtete über einen operativen Verlust von 4,5 Millionen US-Dollar für die neun Monate, die am 31. Oktober 2024 endeten, ein Anstieg gegenüber 3,8 Millionen US-Dollar im Jahr 2023. Nach dem Quartal hat das Unternehmen den Verkauf seiner kanadischen Aktivitäten an WELL Health Technologies für 5 Millionen US-Dollar abgeschlossen, was zur Eliminierung von über 15 Millionen US-Dollar Schulden an Wal-Mart Canada Corp. führte. Das Unternehmen konzentriert sich nun auf die mexikanischen Aktivitäten und die Expansion im MedSpa-Sektor.
Positive
- 16% revenue growth YTD to $15.9M
- Addition of 7 new clinics in Mexico, expanding to 168 total corporate-owned locations
- Elimination of $15M+ debt through sale of Canadian operations
- $5M cash injection from sale of Canadian business
Negative
- Operating loss increased to $4.5M from $3.8M YoY
- Higher operating expenses in associate fees, clinic operations, and professional services
- 57% of Canadian operations sale proceeds used for debt settlement and severance costs
TORONTO–(BUSINESS WIRE)– Jack Nathan Medical Corp. (TSXV: JNH; OTCQB: JNHMF) (“Jack Nathan Health” or the “Company”) announced today its unaudited interim consolidated financial results for the third quarter of fiscal 2025, three and nine months ended October 31, 2024. Jack Nathan Health’s financial statements are prepared in accordance with International Financial Reporting Standards (“IFRS”).
Management Commentary
Mike Marchelletta, Chief Executive Officer, commented:
“The third quarter marks a transformative period for Jack Nathan Health. While our Canadian clinic and license operations contributed to our overall revenue growth of 16% year-to-date, the completion of the sale of our Canadian operations post-quarter-end allows us to streamline our focus on our Mexican business. We are committed to driving growth through operational excellence, including the addition of 7 new clinics in Mexico this quarter, and exploring opportunities in the MedSpa sector, which provides an exciting avenue for strategic expansion and diversification.”
Financial Highlights for the three and nine months ended October 31, 2024:
Operating Results
|
Three months ended October 31 |
Nine months ended October 31 |
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|
2024 |
2023 |
2024 |
2023 |
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|
|
|
$ |
|
$ |
|
|
|
$ |
| Revenues |
5,249,102 |
4,939,617 |
15,919,650 |
13,735,215 |
||||
| Operating expenses |
(6,536,100) |
(6,517,703) |
(20,382,209) |
(17,573,786) |
||||
| Loss from operations |
(1,286,998) |
(1,578,086) |
(4,462,559) |
(3,838,571) |
||||
Revenues for the nine months ended October 31, 2024, were $15,919,650 (2023 – $13,735,215), representing an increase of $2,184,435 or 16%. The growth was driven by the Company’s Mexican clinic operations, which added 7 new clinics during the quarter, bringing the total in Mexico to 168 corporate-owned and operated clinics.
Clinic operations revenues of $4,690,698 accounted for 89% of total revenues for the three months ended October 31, 2024, compared to $4,246,386 or 86% of revenues for the same period in 2023. Year-to-date clinic operations revenues totaled $14,276,338, representing 90% of total revenues, compared to $11,653,262 or 85% for the same period in 2023.
Loss from operations for the nine months ended October 31, 2024, was $4,462,559 (2023 – $3,838,571), reflecting an increase in operating loss of $623,988, driven primarily by higher operating expenses related to associate fees, clinic operations, and professional services.
Strategic Milestone: Sale of Canadian Business
Subsequent to the quarter-end, effective December 1, 2024, the Company completed the sale (the “Asset Sale”) of its Canadian clinic operations and license business to WELL Health Technologies Corp. (“WELL”) for $5,000,000 (the “Purchase Price”). Approximately 57% of the proceeds from the Purchase Price for the Asset Sale were utilized to (i) settle Purchase Price advances made by WELL prior to closing the Asset Sale (the “Closing”) to support the Company’s cash flow requirements and business continuity needs pursuant to the previously reported interim financing agreement entered into between WELL and the Company, (ii) pay transaction costs (mainly legal costs) incurred in connection with the Asset Sale and certain accounts payable, and (iii) pay severance costs for staff and senior management who are not transferring to WELL and not remaining with the Company post-Closing. In connection with the Asset Sale, over $15,000,000 in debt owed by the Company to Wal-Mart Canada Corp. has been extinguished. These transactions significantly improved the Company’s balance sheet and liquidity position. The proceeds will support the Company’s retained operations in Mexico and the MedSpa sector.
Shares Outstanding
As of the date of this press release, the Company has outstanding 87,099,159 common shares, 1,650,000 stock options and 335,004 DSUs. The secured convertible debenture of the Company which had been held by Wal-Mart Canada Corp. was cancelled and terminated in connection with the sale of the Company’s Canadian business referred to above, resulting in the elimination of 152,380,952 potentially issuable shares that had been so issuable pursuant to a conversion of the debenture and exercise of the underlying warrants. As well, as part of the severance arrangements referred to above, 8,500,000 restricted share units previously outstanding under the Company’s Omnibus Equity Incentive Plan have been cancelled, further enhancing the Company’s capital structure.
For further information regarding the Company’s financial results for Q3 fiscal 2025, please refer to the unaudited interim consolidated financial statements of the Company for the three and nine months ended October 31, 2024 together with the corresponding MD&A, available at www.sedarplus.ca.
About Jack Nathan Medical Corp.
Jack Nathan Medical Corp., operating as Jack Nathan Health®, is an innovative healthcare company co-locating physician and ancillary medical services conveniently inside Walmart® stores. Jack Nathan Health® provides an exceptional level of patient care, made possible through patient-centric physicians, a variety of medical services, technology, and programs, designed to put patients first. Our mission is to provide everyone access to the finest quality retail medical centers, with both in-clinic physicians and digital telemedicine, so you and your loved ones can “Live Your Best Life”.
Jack Nathan Health® was established in 2006, delivering exceptional, state-of-the-art, turn-key medical centers. In Mexico, the Company has 168 corporate owned or operated clinics, including 162 retail clinics in Walmart locations, 5 clinics inside Walmart Distribution Centers servicing Walmart Associates, and 1 large format Multi-disciplinary clinic in Mexico City. In Canada, there are currently 4 Rehab clinics and 3 MedSpa clinics, all of which are corporate owned and operated.
For more information, see the Company’s filings on SEDAR+ at www.sedarplus.ca.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Note Concerning Forward-Looking Information
Certain statements contained in this press release constitute “forward-looking information” as such term is defined in applicable Canadian securities legislation. The words “may”, “would”, “could”, “should”, “potential”, “will”, “seek”, “intend”, “plan”, “anticipate”, “believe”, “estimate”, “expect” and similar expressions as they relate to Jack Nathan are intended to identify forward-looking information. All statements other than statements of historical fact may be forward-looking information. Such statements reflect the Company’s current views and intentions with respect to future events, and current information available to them, and are subject to certain risks, uncertainties, and assumptions. Many factors could cause the actual results, performance or achievements that may be expressed or implied by such forward-looking information to vary from those described herein should one or more of these risks or uncertainties materialize. Such factors include but are not limited to: changes in economic conditions or financial markets; increases in costs; litigation; legislative and other judicial, regulatory, political, and competitive developments; and operational difficulties. This list is not exhaustive of the factors that may affect forward-looking information. These and other factors should be considered carefully, and readers should not place undue reliance on such forward- looking information. Should any factor affect the Company in an unexpected manner, or should assumptions underlying the forward-looking information prove incorrect, the actual results or events may differ materially from the results or events predicted. Any such forward-looking information is expressly qualified in its entirety by this cautionary statement. Moreover, the Company does not assume responsibility for the accuracy or completeness of such forward-looking information. The forward-looking information included in this press release is made as of the date of this press release and the Company undertakes no obligation to publicly update or revise any forward-looking information, other than as required by applicable law.
View source version on businesswire.com: https://www.businesswire.com/news/home/20241230394581/en/
Jack Nathan Medical Corp., Mike Marchelletta, Chief Executive Officer, 416-518-1000.
Source: Jack Nathan Medical Corp.
FAQ
What was Jack Nathan Health’s (JNHMF) revenue growth in Q3 2025?
Jack Nathan Health reported a 16% year-to-date revenue growth, reaching $15.9 million compared to $13.7 million in 2023.
How many clinics does JNHMF operate in Mexico as of Q3 2025?
JNHMF operates 168 corporate-owned clinics in Mexico, having added 7 new clinics during Q3 2025.
What was the sale price of JNHMF’s Canadian operations to WELL Health Technologies?
JNHMF sold its Canadian operations to WELL Health Technologies for $5 million, effective December 1, 2024.
How much debt was eliminated through JNHMF’s sale of Canadian operations?
The sale of Canadian operations resulted in the elimination of over $15 million in debt owed to Wal-Mart Canada Corp.
What was JNHMF’s operating loss for the nine months ended October 31, 2024?
JNHMF reported an operating loss of $4.46 million for the nine months ended October 31, 2024, compared to $3.84 million in 2023.
