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Skylight Health Group Inc SLHGF

Skylight Health Group Inc. is a Canada-based healthcare services and technology company. The Company operates a Florida-based primary care health network comprised of physical practices providing a range of services from primary care, sub-specialty, allied health and laboratory/diagnostic testing. The Company is focused on helping small and independent practices shift from a traditional fee-for-service (FFS) model to value-based care (VBC) through tools, including proprietary technology, data analytics and infrastructure. The Company has two segments related to its medical services and software and corporate businesses, which also align with the two countries in which it operates, namely, United States and Canada. It provides a range of healthcare services, including primary and urgent care, sub-specialists, allied health and wellness, and laboratory/diagnostic testing.


GREY:SLHGF - Post by User

Comment by Rc0gburnon Feb 03, 2022 11:34am
286 Views
Post# 34393274

RE:Excellent YT analysis on Skylight Health

RE:Excellent YT analysis on Skylight Health I thought the video was pretty good, but he did spend most of it just reviewing Skylight's recent corporate presentation.

I have been in and out of this name quite a bit and I believe the critical issue for the company is CASH.

Last year they had almost $20million of negative cash flow as they went on an acquisition spree, built up revenues, incurred costs, etc.

As of Sept 30, they had $5mill in cash. They raised another approx $5.5 million via a pref issue in Dec 2021.

The revenue run rate is likely $40million or more for 2022, putting it at 1x revenue or less. Looks cheap! But...they need to hoard cash and get profitable or close to profitable to move the SP higher. It makes no sense to issue equity at these levels. If they can limit their cash burn this could be a rocket ship, especially if the sector gets a bounce. I like the team and think its a great opportunity but it does have a LOT of risk.

For a less risky trade, Look at the prefs, issued at 21 (11% yield), now at 16.5 - a 14% yield, coupon paid monthly.

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