GREY:SLHGF - Post by User
Post by
waves1on Nov 16, 2022 5:38pm
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Post# 35104978
Impressive Q3 results from SLHG!
Impressive Q3 results from SLHG! 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.