Crossed $100 million milestone with the signing of $11 million in new ARR through important wins in the large enterprise customer segment
Strong quarterly results highlighted by revenue at the high end of guidance and better profitability
Expect to deliver another sequential improvement in adjusted EBITDA
MONTREAL, Jan. 25, 2023 /CNW Telbec/ - Dialogue Health Technologies Inc. (TSX: CARE) ("Dialogue" or the "Company"), Canada's premier virtual healthcare and wellness platform, provided today a business update and preview for the fourth quarter of 2022. For the three-month period ending December 31, 2022, Dialogue expects to deliver total revenue of $24.9 million, a gross margin in excess of 56%, and an adjusted EBITDA loss of approximately $2.4 million.
Dialogue Logo (CNW Group/Dialogue Health Technologies Inc.)
"We had an exceptionally strong performance to close out the year. We surpassed $100 million in annual recurring and re-occurring revenue ("ARR"), even after factoring the sale of our operations in Germany, and I couldn't be more proud of our team's hard work and commitment," said Cherif Habib, Chief Executive Officer of Dialogue. "During the quarter, we signed more than 200 new agreements and added $11 million in ARR. We continued to generate meaningful interest in the large enterprise customer segment – our top five direct wins represented nearly 100,000 members in total – and saw more than 70% of our new customers sign-on for multiple services. Finally, I also want to highlight the passion and dedication of our care team, all of whom were extremely busy during the quarter and delivered under demanding conditions."
Navaid Mansuri, Chief Financial Officer, added: "We expect to deliver another sequential improvement in profitability and remain on plan to reach our first quarter of breakeven EBITDA by the end of 2023. As we move towards this important milestone, we can count on a healthy balance sheet to support our growth plans and to provide optionality when we choose to act on the right acquisition opportunity. We view this as an important competitive advantage and will continue to use prudence as we proceed through the current market uncertainty."
These financial results are preliminary, unaudited and subject to change in connection with the completion of the Company's financial closing process and the preparation of its audited financial statements for 2022. Additionally, they do not reflect the sale of our Occupational Health and Safety business, which will be reported as discontinued operations.