Successfully Closed IPO on February 6, 2025, at $4.00 per Share for Gross Proceeds of Approximately $5.7 Million, Including Partial Exercise of Over-Allotment Option
SPRING BRANCH, Texas, March 28, 2025 (GLOBE NEWSWIRE) -- Callan JMB INC. (NASDAQ: CJMB) ("Callan JMB" or the "Company"), an integrative logistics company empowering the healthcare industry and emergency management agencies through fulfillment, storage, monitoring, and cold chain logistics services, today announced its financial results for the full year ended December 31, 2024, and provided a business update.
"2024 was a pivotal year for Callan JMB as we continued to deliver exceptional service to our diverse client base while also preparing for our IPO," said Wayne Williams, CEO & Chairman of Callan JMB. "Closing our IPO in February 2025 was an exciting milestone and a testament to our team's hard work. For years, we have been a trusted partner to both public and private sector customers, consistently delivering excellence and reliability in emergency preparedness, logistics, and fulfillment."
"Looking ahead, we remain focused on scaling our existing business and expanding into new high-growth market opportunities. We are leveraging our core competitive strengths, including our proven success in thermal shipping, to capitalize on opportunities in the healthcare and food and beverage industries. Our leading end-to-end monitoring technology helps to ensure the quality and safety of shipments, giving customers confidence that their packages will arrive in pristine condition, and safeguarding patient health and consumer satisfaction. This competitive edge positions us well as we expand into GLP-1 transportation, compounding pharmacies, and high-end food packaging," concluded Mr. Williams.
Business Highlights to Date:
- Successfully closed IPO on February 6, 2025, at $4.00 per share with gross proceeds of approximately $5.7 million including partial exercise of over-allotment.
- Received request from the State of Texas Department of Health and Human Services to be on standby in readiness to assist with the response to the recent outbreak of measles.
- Extended the Company's arrangement with the Texas Department of State Health Services (DSHS) as the state transitions from heightened readiness to a sustainment phase following the COVID-19 pandemic. Callan will provide ongoing updates on facility and personnel readiness while consulting with the DSHS to maintain alignment for potential future elevated status responses as part of its contract with the agency.
- Awarded a second five-year contract by the Oregon Health Authority for medical emergency preparedness and response services. The new contract involves Callan JMB's services for storing and managing a broad inventory of medical countermeasures to meet all new threat assessments and event response missions in the State of Oregon.
- Launched a comprehensive lease program for vaccine management, enabling government agencies and private organizations to provide crucial immunizations without the financial burden of purchasing equipment outright.
- Supported Health Hero Tennessee's statewide voluntary immunization initiative.
- Joined Complete Group Services, the first-ever group service organization developed to support compounding and manufacturing companies. Together with the other members, Callan will offer support and services to the compounding and manufacturing communities and provide access to resources targeted at helping the members grow their businesses and increase profitability.
- Supported long-time client, the Chicago Department of Public Health, in successfully containing a measles outbreak through a comprehensive vaccine management plan.
Financial Highlights for the Year Ended December 31, 2024:
- Revenue for 2024 totaled $6.6 million.
- Revenue by distribution channel for 2024 was $3.8 million for emergency response and $2.8 million for specialty packaging.
- Cost of revenue for 2024 totaled $4 million.
- Gross profit and gross profit margin for 2024 totaled $2.6 million and was 39.1%, respectively.
- Operating income (loss) for 2024 was ($2.3) million.
- Net income (loss) for 2024 was ($2.3) million.
Revenue year-over-year was impacted by a reduction in related emergency preparedness services after the COVID-19 pandemic and a customer that temporarily suspended ordering in 2024. The Company anticipates continued business from this customer in the future.
About Callan JMB Inc.
Callan JMB Inc. is an integrative logistics company empowering the healthcare industry and emergency management agencies through fulfillment, storage, monitoring, and cold chain logistics services to secure medical materials and protect patients and communities with compliant, safe, and effective medicines. Our combined expertise in supply chain logistics, thermodynamics, biologics, inventory management, regulatory compliance and emergency preparedness is unparalleled in the industry. We offer a gold standard in client experience with customizable interfaces, next-level reliability in shipping and environmental sustainability in our specialty packaging.
Forward-Looking Statement
This press release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act") (which Sections were adopted as part of the Private Securities Litigation Reform Act of 1995). Statements preceded by, followed by or that otherwise include the words "believe," "anticipate," "estimate," "expect," "intend," "plan," "project," "prospects," "outlook," and similar words or expressions, or future or conditional verbs, such as "will," "should," "would," "may," and "could," are generally forward-looking in nature and not historical facts. These forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the Company's actual results, performance, or achievements to be materially different from any anticipated results, performance, or achievements for many reasons. The Company disclaims any intention to, and undertakes no obligation to, revise any forward-looking statements, whether as a result of new information, a future event, or otherwise. For additional risks and uncertainties that could impact the Company's forward-looking statements, please see the Company's Registration Statement Under the Securities Act of 1933 on Form S-1, including but not limited to the discussion under "Risk Factors" therein, which the Company filed with the SEC and which may be viewed at http://www.sec.gov/.
Investor Contacts:
Valter Pinto, Managing Director
KCSA Strategic Communications
CallanJMB@kcsa.com
212.896.1254
