Leveljump Healthcare Reports 2020 Revenues Of $5.45 Million, Net Loss Of $11.6 Million
Leveljump Healthcare (TSXV: JUMP) today reported its fiscal 2020 financial results. The company recognized revenues of $5.45 million for the fiscal year, along with a net loss of $11.6 million.
The fourth quarter saw revenues of $1.48 million for the period ended December 31, 2020, which is down slightly from the $1.51 million recognized in the prior quarter. The company recognized a net loss of $11.7 million for the quarter, primarily a result of listing expenses of $8.8 million and a royalty buyout of $2.0 million. Adjusted EBITDA for the quarter meanwhile came in at $83,000.
For the fiscal year, the company reported revenues of $5.45 million along with adjusted EBITDA of $283,000. Net income here was again impacted by the aforementioned listing expense and royalty buyout. Revenue was up on a year over year basis from the $5.37 million recognized by the company for 2019.
Looking ahead, the company indicated that it is looking to grow its client base to increase trailing twelve month revenues to $10 million on an annualized basis while reducing operating costs and improving margins.
“In the midst of the pandemic, we had a very exciting year in terms of growth, increased revenue and going public onto the TSXV. We were able to navigate through a tough second quarter due to COVID-19 and still have increased revenue and profitability for 2020. This represents the fifth consecutive year over year revenue growth for our operations.”Mitch Geisler, CEO
Leveljump Healthcare last traded at $0.23 on the TSX Venture.
FULL DISCLOSURE: Leveljump Healthcare Corp is a client of Canacom Group, the parent company of The Deep Dive. The author has been compensated to cover Leveljump Healthcare Corp on The Deep Dive, with The Deep Dive having full editorial control. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security.
As the founder of The Deep Dive, Jay is focused on all aspects of the firm. This includes operations, as well as acting as the primary writer for The Deep Dive’s stock analysis. In addition to The Deep Dive, Jay performs freelance writing for a number of firms and has been published on Stockhouse.com and CannaInvestor Magazine among others.