for your interest Neighbourly Pharmacy Inc. (NBLY.TO), a network of community pharmacies, on Tuesday reported a net loss of $76.9 million or $7.50 per share for its fiscal first quarter ended June 19, compared with a loss of just under $5 million or $10.80 per share in the same period a year ago.
The company attributed the bigger loss to $74.1 million in one-time and non-cash items related to the conversion of its preferred shares and warrants into common shares concurrent with its IPO in late May.
The company recorded revenue of $85.3 million in its fiscal first quarter 2022, up 55.2% from $55.0 million a year ago on the back of 40 pharmacies added to the network over the period. Same-store sales growth rose to 8.2% from 0.1%.
Adjusted EBITDA came in at $10.1 million, up from $6.6 million in the year-ago quarter, mainly due to the incremental profitability of pharmacies added to the company's network.
Neighbourly Pharmacy intends to further expand its network over the year ahead, citing more than 3,600 independent pharmacies across Canada that meet its acquisition criteria