RE:RE:RE:Q1 2023 estimates Hi Colourama.
Billable hours has been trending down. Premier Health and Premier Health Nordik has been stable but Code Bleu has not. The good news is the company is able to increase the prices on these billable hours. It is expected that we will see stability in hours billed for 2023 according to management.
It will be interesting to see if there were any additional wage pressures due to the increase in cost of living. Any surprises could have an impact on ebitda margins.
At $22m in revenue and 9% ebitda margins, we still get about $2m in ebitda. If billable hours continues to trend down and there were no additional increase in "price per billable hour" then revenue would be lower than Q4.
For the y/y Q4 comparison, billable hours is down 20% if we exclude the Ontario acquisition. I want to see this back to stability to be confident that we're back to organic growth.