Jack Nathan Health Announces Its Q4 and Year End Fiscal 2024 Financial Results - Seite 2

(22,448,399)

Loss from operations

(2,605,976)

(3,523,289)

(6,444,092)

(6,960,701)

For the three months ended January 31, 2024, total revenues were $5,409,709 (January 31, 2023 - $3,685,689), an increase of $1,724,020 or 47%. For the year ended January 31, 2024, revenues were $19,144,923 (January 31, 2023 - $15,487,698), resulting in an increase of $3,657,225 or 24%. The Company saw significant growth in revenues driven from its clinic operations. The Company expects license revenues to be a smaller percentage of total revenues as clinic operations continue to grow.

Clinic operations revenues of $5,219,950 accounted for 96% of total revenues for the three months ended January 31, 2024, compared to $3,349,234 or 91% of revenues for the three months ended January 31, 2023. The clinic operations revenues during the three months ended January 31, 2024 increased due to the opening of additional clinics. For the year ended January 31, 2024, clinic operations revenues of $16,873,212 accounted for 88% of total revenues compared to $12,708,992 or 82% of revenues for the year ended January 31, 2023. Clinic operations increased by 33% compared to last year due to the expansion of the medical clinics throughout Mexico and due to the new medical services offered in Canada. As of January 31, 2024, the Company owned and operated 24 medical clinic locations inclusive of four rehab and six MedSpa locations in Canada and 155 corporate owned and operated clinics in Walmart locations across Mexico, 5 clinics inside Walmart Distribution Centers servicing Walmart Associates, and 1 Multidisciplinary clinic. The increase in clinic operations is aligned with the Company’s strategic plan of expanding corporate-owned and operated medical centres with strategic partner Walmart.

Loss from operations for the year ended January 31, 2024 was $6,444,092 (2023 - $6,960,701) representing a decrease of $516,609 or 7%. The decrease in net loss was primarily due to prior year containing an impairment loss which was not present in the current year. The direct clinical costs increased at the same rate as revenues and produced the same margins year over year. All other expenses decreased slightly contributing to the overall decrease in net loss.