LONDON, UK / ACCESSWIRE / November 7, 2022 / Physitrack (STO:PTRK) Another strong quarter, with top line growth of 72 per cent, significant EBITDA growth, and growing momentum in the Wellness segment
Jul - Sep 2022
· Revenue increased by 72 per cent from the comparative period in 2021 to generate total sales of EUR 3.4m (EUR 2.0m). On a proforma basis revenue grew by 28 per cent. This proforma growth was achieved in both the Lifecare Technology (17 per cent) and Virtual Wellness (57 per cent) divisions.
· Adjusted EBITDA of EUR 0.9m (EUR 0.6m) was generated resulting in an Adjusted EBITDA margin of 27 per cent (30 per cent). This movement was driven by recent acquisitions, as well as the Group's focus on continued investment in the two divisions allowing a strong footing for their scale-up ambitions.
· Operating profit after taxation of EUR 0.02m (EUR 0.03m).
· Adjusted operating profit of EUR 0.2m (EUR 0.2m) was generated resulting in a margin of 6 per cent (10 per cent).
· Adjusted ordinary and diluted profit per share totalled EUR 0.01 (EUR 0.01).
· Cashflow generated from operations before the payment of adjusting items equalled EUR 0.5m (EUR 0.1m).
Jan - Sep 2022
· Revenue increased by 65 per cent from the comparative period in 2021 to generate total sales of EUR 9.0m (EUR 5.4m). On a proforma basis revenue grew by 30 per cent. This proforma growth was achieved in both the Lifecare Technology (22 per cent) and Wellness (53 per cent) divisions.
· EBITDA increased by 340 per cent from the comparative period in 2021 to EUR 1.2m (EUR 0.3m).
· Adjusted EBITDA of EUR 2.6m (EUR 1.8m) was generated resulting in an Adjusted EBITDA margin of 29 per cent (32 per cent).
· Adjusted operating profit of EUR 0.9m (EUR 0.7m) was generated resulting in a margin of 11 per cent (12 per cent).
· Adjusted ordinary and diluted profit per share totalled EUR 0.05 (EUR 0.05).
· Cashflow generated from operations before the payment of adjusting items equalled EUR 1.7m (EUR 1.7m).
· Continued investment in Access Ecosystem to broaden the Champion Offering for the inclusion of mental health therapy and further acceleration of Champion Health - Physiotherapy.
· Launched the re-branded Champion Health - Nordics and Champion Health in Germany.
· Transition of development team in-house, comprising seventeen highly skilled tech developers. Through a fresh perspective, the new team have fast tracked development of key features including Easylink, EasyPrint and EasyAssign.
· Investment in a new Learning Management System (LMS) forming the backbone of the continued education element of this business line.
Henrik Molin, Co-founder and CEO of Physitrack PLC, commented:
"Despite the challenging macro environment for businesses and individuals, Physitrack Group manages to strengthen the position further this quarter as we keep experiencing significant top line and EBITDA growth. Underpinned by its robust business model, the Group is well positioned to continue enhancing offerings in both operating segments. We see a strong momentum in the Wellness segment, with a massive market opportunity ahead of us, further propelled by increasing demands for cost savers such as higher efficiency and less employee turnover."
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Monday November 7, 2022 at 10.00 CET. The presentation will be held in English and will be available on https://www.physitrackgroup.com/investors/reports-presentations after the webcast conference.
Henrik Molin, CEO
Charlotte Goodwin, CFO
Participants will be able to ask questions through the web chat.
Enquiries regarding this announcement should be addressed to:
Physitrack PLC, founded in 2012, is a global digital healthcare provider, focused on the B2B wellness and virtual-first care markets. With staff on four continents, customers in 17 time zones, and end users in 187 countries, Physitrack is a truly global company.
The company has two business lines:
Lifecare Technology - SaaS platform tailored mainly to physiotherapy and musculoskeletal care, enabling practitioners to deliver clinical home exercises, education prescription, outcomes tracking, triaging and Telehealth.
Virtual-first Wellness / Champion Health - SaaS platform for Employee Wellness and care powered by a combination of world-leading technology and wellness professionals based in the United Kingdom, Germany and the Nordics.
Physitrack PLC is headquartered in London, United Kingdom, and listed on Nasdaq First North Premier Growth Market (PTRK).
Visit us at https://www.physitrackgroup.com/
FNCA Sweden AB
+46 8 528 00399
This information is information that Physitrack is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, at 2022-11-07 08:00 CET.
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