Well Health Provides Vague Preliminary Q4 Results, Announces Return Of Buyback Program

Well Health (TSX: WELL) is looking to boost its share price. The firm this morning published preliminary earnings for the fourth quarter, indicating that its current revenue run rate exceeds the prior guidance of “exceeding $450 million” on an annualized basis.

In addition to the revenue run rate exceeding $450 million, the company also indicated that its adjusted EBITDA run rate for the year should be exceeding $100 million as well. The quarter reportedly had “strong organic growth,” which came from both virtual services and omni-channel patient services.

Further details on financial results for the fourth quarter were not provided. However, the company did indicate that it had a total of 692,913 omni-channel visits in the quarter, along with 146,116 diagnostic visits for MyHealth and 126,265 patient consultations.

The company also indicated this morning that it will be “re-activating” its normal course issuer bid announced last April, a result of the firms share price falling dramatically in recent weeks. The program is slated to be re-activated following the release of its 2021 financial results.

Well Health last traded at $3.83 on the TSX.

Information for this briefing was found via Sedar and the companies mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

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