Jack Nathan Health Announces Its Q2 Fiscal 2024 Financial Results - Seite 2

 

(1,318,102)

 

(2,260,486)

 

(2,576,278)

Other income (expense)  

(24,509)

 

(83,801)

 

(66,045)

 

(101,330)

Net loss before income taxes  

(1,536,635)

 

(1,401,903)

 

(2,326,531)

 

(2,677,608)

For the three months ended July 31, 2023, total revenues were $4,568,207 (2022 - $3,630,659), an increase of $937,548 or 26%. For the six months ended July 31, 2023, total revenues were $8,795,598 (2022 - $7,523,981), an increase of $1,271,617 or 17% compared to the first half of last fiscal year. The Company saw significant growth in revenues driven from its clinic operations.

Clinic operations revenues of $3,909,899 accounted for 86% of total revenues for the three months ended July 31, 2023, compared to $2,953,598 or 81% of revenues for the three months ended July 31, 2022. For the six months ended July 31, 2023, clinic operations revenues of $7,406,876 accounted for 84% of total revenues compared to $6,098,789 or 81% of revenues for the six months ended July 31, 2022. The clinic operations during the three and six months ended July 31, 2023 are slightly higher than the same periods last year, but are expected to increase during the remainder of fiscal 2024 with the opening of additional clinics. The increase in clinic operations is aligned with the Company’s strategic plan of expanding corporate-owned and operated medical centres with strategic partner Walmart.

The loss from operations for the six months ended July 31, 2023, was $2,260,486 (2022 - $2,576,278) representing a decrease in operating loss of $315,792. The overall decrease in the loss from operations was due to the following: i) the Company experienced a 17% grown in revenues compared to the same period last year, ii) operating expenses were 126% of revenues in the current period compared to 134% in the same period last year, iii) the Company reduced certain expenses such as professional fees, license fees, development fees, and consulting fees, iv) while variable operating expenses such as clinic supplies, salaries and wages, etc. increased, the Company was more efficient in generating revenues for every $1 of operating expense incurred.