Skylight Health Group Inc V.SLHG.H

Impressive Q3 results from SLHG!

[waves1]

Third quarter 2022 financial results from SLHG:

• Increased revenue to $20.8M compared to $16.1M in previous quarter w/ 152% growth year over year
• Net loss from continuing operations reduced by 16% from previous quarter to $4.3M, compared to $5.2M
• Adjusted EBITDA loss reduced by 27% from previous quarter
• Established new Medicare Advantage plans in Florida with expected 2023 participation in ACO Reach with traditional Medicare members moving to full-risk
• Reduced annual cost base by over $10M w/ further operational improvements by year end
• Closed non-brokered private placement for $2.35M

 

This quarter was a major step for SLHG in achieving its 2022 goals, with increased top line while reducing costs & improving adjusted EBITDA.

Further improvement in adjusted EBITDA are expected by SLHG for Q4 w/ aim toward adjusted EBITDA break-even by 2022

 

Notably, SLHG accelerated its journey to VBC by 3 years with acquisition of NMD & partnership with CHS.

Going forward, SLHG is strongly positioned for organic growth, expected to primarily be driven by value-based-care contribution in Medicare and Medicare Advantage growth.

[yureja79]

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[StockDoctor101]

Impressive growth - nice to see that significant increase in top line revenue and cutting costs. Lots to look out for as SLHG keeps growing and could definitely see them hitting their goal of an adjusted EBITDA break-even by 2022.