LevelJump Healthcare Corp. (TSXV: JUMP) announced last week its financial results for Q1 2021, which recorded $1.56 million revenue. This is an increase from last year’s revenue of $1.28 million for the three month period.
Gross profit for the quarter came in at $0.31 million, a climb from the previous year’s $0.25 million. The company said it continues to see increased volume from current clients and the new hospital network added during the quarter, despite limited hospital activities due to the ongoing pandemic.
The company posted a net loss of $0.70 million for the quarter, compared to last year’s net profit of $0.10 million. The loss can be attributed to a $0.39 million stock-based compensation expense. Adding this back, among other expenses, the company’s adjusted EBITDA is at a negative $0.21 million.
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The company ended the quarter with $0.60 million in cash and cash equivalents, down from last quarter’s $0.91 million, with the company having conducted a financing to the tune of $1.5 million following the end of the quarter. LevelJump CEO Mitch Geisler relayed that “the recent private placement strengthened [the company’s] cash position and aligned strategic investors with [its] long-term corporate vision.”
LevelJump Healthcare Corp. last traded at $0.35 on the TSX Venture.
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