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

Jack Nathan Medical Corp. (TSXV: JNH, OTCQB: JNHMF) (“Jack Nathan Health”, “JNH” or the “Company”) announced today its audited consolidated annual financial results for the fourth quarter of fiscal 2024, and fiscal year ended January 31, 2024. Jack Nathan Health’s financial statements are prepared in accordance with International Financial Reporting Standards (“IFRS”).

Management Commentary

In discussing the company's performance and future prospects, Dr. Glenn Copeland, Chairman and Chief Executive Officer, emphasized: "Our partnership with Walmart continues to drive robust financial outcomes, evidenced by a stronger 24% increase in revenue year over year. As our main partner, Walmart plays a pivotal role in laying the groundwork for our future expansion. We anticipate reaping the rewards of our joint efforts as the newly opened clinics reach maturity."

Marcy Herriman, Chief Operating Officer added: “The Company has designed, constructed and opened 9 new state of the art clinics in fiscal 2024 in Canada. This was only possible due to the hard work of the team. Going forward, the Company will focus on increasing its footprint in the medical space in Canada and ramp up sales in the newly opened clinics.”

Laura Camacho, Managing Director, JNH Mexico commented: “JNH Mexico experienced a significant growth last year with a 23% increase in clinic footprint, 78% increase in revenues, and 155% increase in net income. With the opening of the first Multidisciplinary clinic and the projection to open 2 more in fiscal 2025, the Company is positioning itself to improve access to highest quality healthcare.”

Financial Highlights for the fiscal year ended January 31, 2024

Operating Results
	Three months ended January 31		Year ended January 31
	2024	2023	2024	2023
	$	$	$	$
Revenues	5,409,709	3,685,688	19,144,923	15,487,698
Operating expenses	(8,015,685)	(7,208,977)	(25,589,015)