Nova Leap Health Corp. Posts Q1 2024 Results - Seite 2

President & CEO’s Comments

“This was a steady quarter for the Company as we re-engaged our acquisition program”, said Chris Dobbin, President & CEO of Nova Leap.   “Following the repayment of all bank debt in Q4 2023, we continued to focus on operations and building cash while entering into discussions regarding acquisition opportunities. Those discussions led to the first acquisition of 2024, the closing of which was announced on May 6, 2024.

As the Company has no bank debt and has been generating positive cash flows, we continue to examine additional acquisition opportunities.”     

This news release should be read in conjunction with the Unaudited Condensed Interim Consolidated Financial Statements for the three months ended March 31, 2024 and 2023 including the notes to the financial statements and Management's Discussion and Analysis dated May 9, 2024, which have been filed on SEDAR.

About Nova Leap

Nova Leap is an acquisitive home health care services company operating in one of the fastest-growing industries in the U.S. & Canada. The Company performs a vital role within the continuum of care with an individual and family centered focus, particularly those requiring dementia care. Nova Leap achieved the #42 ranking on the 2021 Report on Business ranking of Canada’s Top Growing Companies, the #2 ranking on the 2020 Report on Business ranking of Canada’s Top Growing Companies and the #10 Ranking in the 2019 TSX Venture 50 in the Clean Technology & Life Sciences sector. The Company is geographically diversified with operations in 10 different U.S. states within the New England, Southeastern, South Central and Midwest regions as well as in Nova Scotia, Canada.

NON-IFRS AND OTHER MEASURES:

This release contains references to certain measures that do not have a standardized meaning under IFRS as prescribed by the International Accounting Standards Board (“IASB”) and are therefore unlikely to be comparable to similar measures presented by other companies. Rather, these measures are provided as additional information to complement IFRS measures by providing a further understanding of operations from management’s perspective. Accordingly, non-IFRS financial measures should not be considered in isolation or as a substitute for analysis of financial information reported under IFRS. The Company presents non-IFRS financial measures, specifically Adjusted EBITDA (as such term is hereinafter defined), as well as supplementary financial measures such as annualized revenue and annualized adjusted EBITDA. The Company believes these non-IFRS financial measures are frequently used by lenders, securities analysts, investors and other interested parties as a measure of financial performance, and it is therefore helpful to provide supplemental measures of operating performance and thus highlight trends that may not otherwise be apparent when relying solely on IFRS financial measures.