Jack Nathan Health Announces Its Q3 Fiscal 2024 Financial Results

Jack Nathan Medical Corp. (TSXV: JNH, OTCQB: JNHMF) (“Jack Nathan Health”, “JNH” or the “Company”) announced today its unaudited interim consolidated financial results for the third quarter of fiscal 2024, nine months ended October 31, 2023. Jack Nathan Health’s financial statements are prepared in accordance with International Financial Reporting Standards (“IFRS”).

Management Commentary

Commenting on the Company’s performance and outlook, Dr. Glenn Copeland, Chairman and Chief Executive Officer stated, “We continue to produce tremendous results with 16% growth in revenue year over year. The Company is well financed and well-staffed both in Canada and Mexico to enter the next phase of its growth.”

Marcy Herriman, Chief Operating Officer added: “The growth the Company has experienced has been due to the hard work of both the Canadian and Mexican operations team. I am humbled to lead such a strong, talented group of individuals.”

Bharat Choudhary, Chief Financial Officer added: “I am excited to be part of this great organization. The growth demonstrated by the current leadership team, the opportunity that lies ahead, and the strong partnership with Wal-mart are the right ingredients for the recipe for success.”

Financial Highlights for the Three and Nine Months Ended October 31, 2023

Operating Results

		Three months ended October 31				Nine months ended October 31
		2023		2022		2023		2022
		$		$		$		$
Revenues		4,939,616		4,278,029		13,735,214		11,802,010
Total operating expenses		(6,517,702)		(5,139,163)		(17,573,785)		(15,239,422)
Loss from operations		(1,578,086)		(861,134)		(3,838,571)