Greenbrook TMS Inc. (TSX: GTMS) (“Greenbrook” or the “Company”) today announced its fourth quarter (“Q4 2019”) and year-end 2019 (“Fiscal 2019”) operational and financial results. All values in this press release are in United States dollars, unless otherwise stated.
FOURTH QUARTER AND YEAR END 2019 FINANCIAL AND OPERATIONAL HIGHLIGHTS
- Q4 2019 revenue increased by 77% to a record $12.5 million, up $5.4 million from the fourth quarter of fiscal 2018 (“Q4 2018”).
- Fiscal 2019 revenue increased by 68% to $35.7 million, up $14.4 million from the 2018 fiscal year-end (“Fiscal 2018”).
- Q4 2019 regional operating income increased by 36% to $1.9 million, up $0.5 million from Q4 2018(1).
- Fiscal 2019 regional operating income increased by 54% to $4.3 million, up $1.5 million from Fiscal 2018(1).
- Added 62 TMS Centers during Fiscal 2019, 55 of which are active TMS Centers, bringing our total to 121 TMS Centers as at the date of this press release.
- Completed the acquisition of Achieve TMS Centers, LLC and Achieve TMS Alaska, LLC (collectively, “Achieve TMS”), which, provides the Company with a national footprint of over 100 TMS Centers. The acquisition also provides a platform for further expansion in the western United States, which is enhanced by Achieve TMS’ excellent brand recognition, physician reputation and high visibility in the local TMS community.