TJJ Testing: N, 2
LOS ANGELES--(BUSINESS WIRE)--TJJ Testing:
The following table provides a reconciliation of net and comprehensive income (loss) to EBITDA and adjusted EBITDA:
|
Three months ended June 30 |
Six months ended June 30 |
||
|
2024 |
2023 |
2024 |
2023 |
(in thousands) |
$ |
$ |
$ |
$ |
Net and comprehensive income (loss) |
362 |
46 |
18 |
(179) |
Add back: |
|
|
|
|
Depreciation and amortization |
553 |
610 |
1,134 |
1,238 |
Interest cost |
240 |
242 |
479 |
426 |
Income tax expense |
66 |
71 |
123 |
124 |
EBITDA |
1,221 |
969 |
1,754 |
1,609 |
Add back: |
|
|
|
|
Stock-based compensation |
30 |
45 |
64 |
92 |
Transaction costs |
70 |
21 |
354 |
52 |
Finance income |
- |
(3) |
- |
(6) |
Adjusted EBITDA |
1,321 |
1,032 |
2,172 |
1,747 |
Attributed to: |
|
|
|
|
Shareholders of N |
1,235 |
1,043 |
2,032 |
1,770 |
Non-controlling interest |
86 |
(11) |
140 |
(23) |
|
1,321 |
1,032 |
2,172 |
1,747 |
Gross Margin and Gross Margin %
Management believes gross margin and gross margin % are important supplemental non-GAAP measures for evaluating operating performance and to allow for operating performance comparability from period-to-period. Gross margin is calculated as total revenue minus cost of medical services. Gross margin % is calculated as gross margin divided by total revenue.
The following table provides a reconciliation of total revenue to gross margin:
|
Three months ended June 30 |
Six months ended June 30 |
||
|
2024 |
2023 |
2024 |
2023 |
(in thousands, except for %s) |
$ |
$ |
$ |
$ |
Clinic revenue |
17,266 |
15,977 |
33,434 |
30,859 |
Non-clinic revenue |
1,614 |
1,171 |
2,932 |
2,350 |
Total revenue |
18,880 |
17,148 |
36,366 |
33,209 |
Cost of medical services |
15,096 |
13,920 |
29,349 |
27,085 |
Gross margin(1) |
3,784 |
3,228 |
7,017 |
6,124 |
Gross margin %(1) |
20.0% |
18.8% |
19.3% |
18.4% |
(1) Gross margin and gross margin % are non-IFRS measures. Please refer to Non-IFRS Financial Measures above. |