Premier Health Reports 2025 Third Quarter Results

Core Insights - Premier Health of America Inc. has reported its unaudited financial results for the third quarter ended June 30, 2025, showing a decline in revenues and an increase in net loss compared to the same period in 2024 [1][2][10] Financial Performance - Revenues for Q3 2025 were CAD 21.91 million, down from CAD 41.48 million in Q3 2024, representing a decrease of approximately 47% [2] - Gross margin for Q3 2025 was CAD 3.49 million, with a gross margin percentage of 15.9%, slightly up from 15.4% in Q3 2024 [2] - Adjusted EBITDA for Q3 2025 was CAD 22, a significant drop from CAD 367K in Q3 2024 [2][10] - The net loss for Q3 2025 was CAD 3.53 million, an improvement from a net loss of CAD 8.45 million in Q3 2024 [2][10] Operational Challenges - The implementation of Quebec's Bill 10 has negatively impacted the Per Diem segment, which now accounts for about 4% of revenues [3] - The travel nurse and northern communities' services are performing well overall, except for a decline in British Columbia due to centralization efforts by health authorities [4] - The company is reorganizing its Quebec operations, including workforce reductions, to align with cost-saving initiatives disclosed in Q4 2024 [5][6] Strategic Focus - The company is shifting its focus from the Per Diem segment to Travel Nurses and is exploring opportunities in the Home Care sector [6] - Ongoing efforts are being made to enhance cost reduction, debt management, and operational efficiency while pursuing organic growth opportunities [6]