ARCPOINT REPORTS 2024 YEAR END FINANCIAL RESULTS AND ANNOUNCES MANAGEMENT CHANGE

Core Viewpoint - ARCpoint Inc. has reported its 2024 year-end audited financial results, highlighting a significant improvement in net income and a strategic focus on expanding its healthcare ecosystem through technology integration and partnerships [1][7]. Financial Performance - Total revenues for FY2024 were $5.5 million, a decrease from $6.7 million in FY2023, primarily due to the absence of royalty and franchising revenues following the CRESSO transaction [7]. - Net income for FY2024 was $1.3 million, a notable recovery from a net loss of $8.9 million in FY2023, driven by a $5.8 million gain on deconsolidation related to the CRESSO transaction [7]. - Operating cash flow for FY2024 was negative $2.6 million, an improvement from negative $4.2 million in FY2023 [7]. Strategic Developments - The appointment of Adam Ho as interim Chief Financial Officer effective May 1, 2025, aims to strengthen the company's financial leadership as it integrates Any Lab Test Now locations into its MyARCpointLabs technology platform [2][3]. - The CRESSO transaction, completed on August 20, 2024, has positioned ARCpoint and Any Lab Test Now as the largest franchise network of its kind in the U.S., enhancing their market presence [4][5]. Non-IFRS Financial Measures - EBITDA for FY2024 was reported at $2.5 million, a significant improvement from negative $7.7 million in FY2023 [14]. - Adjusted EBITDA for FY2024 was negative $2.4 million, compared to negative $4.3 million in FY2023, indicating a trend towards operational efficiency [14].