Toronto, Ontario--(Newsfile Corp. - May 30, 2023) - Justera Health Ltd. (CSE: VTAL) (OTCQB: SCRSF) (formerly ScreenPro Security Inc.) ("Justera" orthe "Company") is pleased to announce the first quarter ("Q1 2023") financial results for the Company. The Company has filed its financial statements ("FS") and management discussion and analysis ("MD&A") on SEDAR for the three months ending on March 31, 2023 ("Q1 2023").
Financial Highlights:
The Company reported revenue of over $920,825 and a net loss of $915,423 for the three months ending on March 31, 2023. The Company also reported total assets of $4,716,541, EBITDA of $788,488, and adjusted EBITDA of $719,622.
The following financial information from the financial results for the three months ending ending on March 31, 2023, and Management Discussion & Analysis ("MD&A") are available for review on SEDAR.
Please refer to the Q1 2023 filing in its entirety, which is available under Justera Health's profile at www.sedar.com.
Financial Summary
The following table summarizes revenue, net loss, ETBITDA*, and adjusted EBITDA*
All figures are in Canadian dollars unless otherwise noted.
|
March 31, 2023 |
March 31, 2022 |
| Total Revenue |
$920,825 |
$4,688,551 |
| Net Loss |
($915,423) |
($333,826) |
| Net Income/(loss) per share - basic |
(0.01) |
(0.01) |
| Depreciation and amortization |
$126,975 |
$406,021 |
| EBITDA* |
($788,448) |
($72,192) |
| Adjusted EBITDA* |
($719,622) |
$72,192 |
Recent Developments & Outlook
The Company recently announced the completion of its name change to Justera Health Ltd. This name change signifies a transformative direction for the organization. With this strategic rebranding, the Company solidifies its transition from being primarily focused on COVID-19 and screening solutions to expanding its presence and reinforces its commitment to advancing to the health and wellness landscape.
The focus for the remainder of the year will be on expanding further into the health and wellness industry, which includes the Company set to open two new brick-and-mortar retail stores in British Columbia this year.
By venturing into physical retail stores and pharmacies, the Company aims to further enhance its revenue and profitability while solidifying a strong presence in the health and wellness Canadian market. This strategic move reflects the Company's determination to transition away from COVID-19 and embrace a growth-oriented strategy that reinvents the organization.
The Company foresees that expanding further into the health and wellness industry and opening physical retail stores will play a crucial role in its transformation and success. These significant milestones in the pipeline are set to shape the future of the Company.
"We are focused on revenue generation and have some upcoming developments in the pipeline. By expanding into the health and wellness industry and into brick-and-mortar retail locations, we are not only diversifying our offerings and increasing our accessibility to customers for Naturevan but also offering a personalized shopping experience. Our goal is to create a strong and lasting connection with our customers, providing them with the highest level of service and a wide range of health and wellness products and services, which is expected to improve company earnings," said Alex MacKay, Chief Executive Officer and Chairman of the Company.
About Justera Health Ltd.
Founded in 2020, Justera Health Ltd. is a health and wellness management company that provides Canadians with professional health and medical solutions. With a focus on concierge medical services, Justera Health offers personalized healthcare services such as IV vitamin therapy, personal home care, nurse care, on-call urgent medical care, nutrition, and health screening services, such as COVID-19 testing. Our team of board-certified physicians and healthcare professionals brings years of expertise to provide knowledgeable and trustworthy solutions to improve patients' overall health outcomes.
For additional information on Justera Health and other corporate information, please visit the Company's website at https://www.justerahealth.com/.
For more information about the Company, please refer to the Company's profile on SEDAR at www.sedar.com.
Neither the Canadian Securities Exchange (the "CSE") nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.
For further information:
Investor Relations & Communications
Priya Monique Atwal, Director of Communications
Tel: (416) 901-5611 x 204
Email: priya@justerahealth.com
Alex MacKay, CEO, and Chairman
Tel: (416) 989-1067
Email: amackay@justerahealth.com
Forward-Looking Statements:
Certain statements contained in this news release may constitute forward-looking information, including statements relating to the future development of Justera's business. Forward-looking information is often, but not always, identified by the use of words such as "anticipate", "plan", "estimate", "expect", "may", "will", "intend", "should", and similar expressions. Forward-looking information involves known and unknown risks, uncertainties, and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking information. The actual results of Justera could differ materially from those anticipated in this forward-looking information as a result of regulatory decisions, competitive factors in the industries in which Justera operates, prevailing economic conditions, changes to Justera's strategic growth plans, and other factors, many of which are beyond the control of Justera. Management of Justera believes that the expectations reflected in the forward-looking information herein are reasonable, but no assurance can be given that these expectations will prove to be correct and such forward-looking information should not be unduly relied upon. Any forward‐looking information contained in this news release represents Justera's expectations as of the date hereof and is subject to change after such date. Justera disclaims any intention or obligation to update or revise any forward‐looking information whether as a result of new information, future events, or otherwise, except as required by applicable securities legislation.
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