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NexgenRx Announces Q3 2022 Financial Results with Continued Revenue Growth, Positive EBITDA and Free Cash Flow

TORONTO, ON / ACCESSWIRE / November 29, 2022 / NEXGENRX INC. ("NexgenRx" or the "Company") is pleased to announce its interim financial results for the third quarter ended September 30, 2022, highlighted by continued revenue growth, positive EBIDTA …

TORONTO, ON / ACCESSWIRE / November 29, 2022 / NEXGENRX INC. ("NexgenRx" or the "Company") is pleased to announce its interim financial results for the third quarter ended September 30, 2022, highlighted by continued revenue growth, positive EBIDTA and increased free cash flow. During Q3 2022, the Company showed revenue growth of 15.81% over the same period last year. Revenue for the third quarter was $3,317,358 and $9,401,460 year-to-date. The Company continued to achieve a positive EBITDA of $280,638 and shareholder free cash flow in Q3 2022. EBITDA in Q3 2022 was smaller compared to prior period last year as a result of costs associated with client growth initiatives. With new client commitments, the Company anticipates that additional increased revenue will contribute continued positive financial results in the upcoming quarters. The Company continued to add free cash flow in the quarter, bringing its year-to-date number to $1,993,822, as a result of reduced working capital expenditures and continued cost control measures.

During the third quarter of the year 2022, the Company was busy on organizational matters. Its head office move was completed in July 2022 on schedule, with the new premises representing more than a 60% decrease in the Company's overall office footprint, representing further cost savings and efficiencies (reflecting the Company's successful remote work initiatives). The quarter was very active, and the NexgenRx sales management team engaged many prospective clients with exciting business development initiatives.

The Company carefully evaluated its future cash flow requirements, together with the consideration of two consecutive quarters in increased cash flow, and declared a dividend on September 23, 2022 of $0.005 in respect of all of its outstanding common shares and series 1 preferred shares.

Ron Loucks, President and CEO, stated "the management team continually monitors revenue growth prospects and the Company's cost structure to keep a balance between the Company's push for growth and the resources necessary to accomplish our plans. September year-to-date revenue increased by $972,167 over the prior year, the growth in revenue was partially offset by the investments made upfront to develop and maintain customer relationships. With this process complete, new revenues are expected to be incremental, without any additional significant cost."

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NexgenRx Announces Q3 2022 Financial Results with Continued Revenue Growth, Positive EBITDA and Free Cash Flow TORONTO, ON / ACCESSWIRE / November 29, 2022 / NEXGENRX INC. ("NexgenRx" or the "Company") is pleased to announce its interim financial results for the third quarter ended September 30, 2022, highlighted by continued revenue growth, positive EBIDTA …

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