LONDON, GREAT BRITAIN / ACCESSWIRE / November 22, 2023 / Physitrack (STO:PTRK) Celebrating another successful quarter of growth, with adjusted EBITDA increasing to EUR 1.1m for the quarter showcasing the Group's continued dedication to financial excellence and sustainable success.
Quarter ended - Jul - Sep 2023
- Revenue increased by 14 per cent from the comparative period in 2022 to generate total sales of EUR 3.9m (EUR 3.4m). On an organic basis revenue grew by 17 per cent. This organic growth was achieved in both the Lifecare (11 per cent) and Wellness (29 per cent) divisions.
- Adjusted EBITDA of EUR 1.1m (EUR 0.9m) was generated resulting in an Adjusted EBITDA margin of 27 per cent (27 per cent).
- Adjusted operating profit of EUR 0.1m (EUR 0.2m) was generated resulting in a margin of 3 per cent (6 per cent).
- Adjusted ordinary and diluted loss per share totalled EUR 0.00 (EUR 0.01).
- Cashflow generated from operations before the payment of adjusting items equalled EUR 0.9m (EUR 0.5m).
- Free cash flow for the quarter was a net outflow of EUR 0.3m (outflow EUR 0.9m).
Nine months ended - Jan - Sep 2023
- Revenue increased by 26 per cent from the comparative period in 2022 to generate total sales of EUR 11.3m (EUR 9.0m). On an organic proforma basis revenue grew by 27 per cent. This proforma growth was achieved in both the Lifecare (13 per cent) and Wellness (61 per cent) divisions.
- Adjusted EBITDA of EUR 2.9m (EUR 2.6m) was generated resulting in an Adjusted EBITDA margin of 26 per cent (29 per cent).
- Adjusted operating profit of EUR 0.3m (EUR 1.0m) was generated resulting in a margin of 3 per cent (11 per cent).
- Adjusted ordinary and diluted profit per share totalled EUR 0.01 (EUR 0.05).
- Cashflow generated from operations before the payment of adjusting items equalled EUR 2.1m (EUR 1.7m).
Operational highlights
- The Group has always been at the forefront of technological innovation and is pleased to announce further enhancements to the Physitrack platform through the integration and utilisation of AI technology for a range of features and content production, further enhancing customer engagement and practical use.
- We have made significant enhancements to the existing Champion Health platform, streamlining user interfaces, improving performance, and introducing new features to enhance the overall user experience. The platform is now in a position which will allow it to be localised and rolled out to non-English speaking territories.
- Champion Health secured significant contracts during the quarter including a multi-year deal with E.ON, the UK's largest energy provider; Healix and Anaplan. These agreements support the continued growth of the Wellness division.
- With an unwavering commitment to an efficient and sustainable business model, the Group's strategy continues to focus on revenue stream enhancement and cost optimisation across all divisions, resulting in a EUR 0.1m quarter on quarter increase in adjusted EBITDA, to EUR 1.1m and an expansion of adjusted EBITDA margins to 27%. Our ongoing plan includes the continued strategic deployment of AI tools throughout the organisation to ensure peak operational and cost efficiency.
- The Group re-confirms that it is expected there will be no further deferred contingent consideration payments for the remainder of the financial year, and no capital raising via share issuance or debt.
Henrik Molin, Co-founder and CEO of Physitrack PLC, commented:
"I am proud to see our amazing teams continuing to thrive and remaining resilient in achieving our targets and achieving our mission of Elevating the World's Wellbeing, in an unpredictable macroeconomic environment for many of our target markets."
Group Key Performance Indicators:
| 3 Month period ended | 9 Month period ended | Year ended | |||
| EUR (€), unless otherwise stated | 30 Sep 23 | 30 Sep 22 | 30 Sep 23 | 30 Sep 22 | 31 Dec 22 |
| Revenue | 3,851,230 | 3,365,221 | 11,336,921 | 8,993,261 | 12,510,371 |
| Prior period revenue growth (%) | 14 | 72 | 26 | 65 | 57 |
| Organic revenue / Proforma revenue growth (%) | 17 | 28 | 27 | 30 | 27 |
| EBITDA | 825,654 | 714,430 | 2,269,334 | 1,249,692 | 2,543,318 |
| Operating (loss) / profit | (98,942) | 2,789 | (364,347) | (367,762) | 109,387 |
| Adjusted EBITDA | 1,051,111 | 917,001 | 2,926,857 | 2,569,935 | 3,446,475 |
| Adjusted EBITDA margin (%) | 27 | 27 | 26 | 29 | 28 |
| Adjusted operating profit | 126,515 | 205,360 | 293,177 | 952,481 | 1,012,544 |
| Adjusted operating margin (%) | 3 | 6 | 3 | 11 | 8 |
| Adjusted earnings per share | 0.00 | 0.01 | 0.01 | 0.05 | 0.06 |
| Operating cashflow before adjusting items | 852,284 | 454,308 | 2,076,842 | 1,706,726 | 2,897,554 |
| % of revenue which is subscription | 75 | 74 | 72 | 72 | 71 |
Webcast conference:
November 14, 2023, at 10.00 CEST. The presentation will be held in English and will be available on https://www.physitrackgroup.com/investors/reports-presentations after the webcast conference.
Speakers:
Henrik Molin, CEO
Charlotte Goodwin, CFO
Link to webcast registration:
https://us06web.zoom.us/webinar/register/WN_XBOR6-IySomnd5qguNH8Dw
Participants will be able to ask questions through the web chat.
Enquiries regarding this announcement should be addressed to:
Henrik Molin, CEO, Physitrack.
+44 208 133 9325
ir@physitrack.com
media@physitrack.com
About Physitrack
Physitrack PLC, founded in 2012, is a global digital healthcare provider, focused on the B2B wellness and virtual-first care markets. With staff with 12 nationalities 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:
1. Lifecare - SaaS platform tailored mainly to physiotherapy and musculoskeletal care, enabling practitioners to deliver clinical home exercises, education prescription, outcomes tracking, triaging and Telehealth.
2. 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/
This information is such information as Physitrack PLC is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above on November 14, at 8.00 am CEST.
Attachments
Q3 2023 Interim Report FINAL
SOURCE: Physitrack
View source version on accesswire.com:https://www.accesswire.com/808456/physitrack-plc--interim-report-january--september-2023
