Neupath Health Inc.

joining us this morning for New Paths Q3 results. The company will be making a presentation and discussing their business and their financial results. And then we will be taking questions from the audience. So please type your questions into the Zoom Q&A. function, and I will read those out to management. Please try to keep the questions clear and tight. It makes everything a lot better. Sometimes it's literally hard to understand what the question is. And with that, we're gonna get the show officially on the go here. NewPath is Canada's largest provider of health care services for the treatment and assessment of chronic pain, back injuries, sports-related injuries, and concussions. The company just released its Q3 results with over 26% revenue growth and adjusted EBITDA up 98%. CEO Joe Wolowitz and Stephen Lemieux, the president, are here to discuss the results. I'm Martin Gagel with Market Radius Research. Please remember, this is neither a recommendation nor investment advice. Gentlemen, welcome back and congrats on another strong quarter.

Thanks, Martin, and thanks for the intro there. I'm Joe Wolowitz. I'm the CEO of New Path Health, and I'm joined here by Stephen Lemieux, our president. And I apologize for those of you who know the story, I'm going to go over a little bit just background. So for those who are new to the story can get a little sense of what we do. So as Martin mentioned, we are Canada's largest network of chronic pain treatment facilities. Next slide, Martin. We will be making forward-looking statements today. I encourage all investors to have a look at our AIF and all our other documents filed on CDAR. We do also use non-IFRS measures. And just so everyone knows, all our details are in the financials and there's nothing, everything's there. And if you have any questions, just give us a call. So why invest in NewPath? Well, first and foremost, we do run, I mentioned regulated healthcare facilities. So in the past, we've talked a little bit about Sometimes some of our peers talk about clinics. These are regulated facilities, so we are a private provider of public health operating healthcare facilities that augment and supplement the public system. These require specialized personnel and training and very expensive equipment and a decent amount of capex, although we've put that behind us, I think, for the most part now. We've had a great organic growth profile, as you can see from our numbers. We've not made any material acquisitions in some time. The numbers are really driven by patient visits and doctors adding more time and spending more time with us. As of today, unfortunately, this is a large growing market. There's lots of people out there who are underserved and need our help. More importantly, we think that as the business has grown stronger, we have lots of opportunity for inorganic growth. Finally, growing cash flows. You can see the balance sheet. A few years ago, we had over $5 million net debt. We're now down to under $2 million, $1.7 million. So we've been really rejigging that balance sheet and using that cash flow to buy back stock and other things. So we're able to invest in new initiatives. So what do we do? People always kind of wonder, what does chronic pain treatment mean? And there's kind of people can imagine a bunch of different ways, but I think this helps to simplify a little bit. We do injections. For example, Botox. If you have a migraine, you may get a Botox injection, which, you know, for people don't know that Botox can be used for the treatment of chronic migraine. Things like prolotherapy and PRP for sports injuries. You know, you get nerve blocks for people who have sciatica. You know, these are things that you can do in addition to We do things like infusions, IV infusions of lidocaine for people with systemic pain. Ketamine can also be used for pain. And I just want to be clear, this is not a field trip kind of situation. What happens when you get ketamine in our clinics, it's usually lower dose than you would get for the psychological treatment. So these are lower dose for the treatment of chronic pain. Then, of course, there's other things, you know, radiofrequency ablation is a very important treatment modality for people with chronic lower back pain. We have physical therapy on site in Edmonton. We have one of our doctors actually does acupuncture. You know, we do cognitive behavioral therapy. We make that free, freely available to our patients. We do sessions every couple of months. And then, you know, we have a massage therapist comes in once in a while. So, you know, there's all these things that are ancillary to what we do, but the core business is really kind of injections, infusions, and things like radiofrequency ablation. Next slide, please. There. So for those of you who don't know, we are currently in Ontario and Alberta. We're in Ontario from Ottawa to Windsor and most places in between operating under two brands in Medic and New Pass Center for Pain and Spine. In 2021, we entered the Alberta market with our HealthPoint acquisition, which led to our expansion to Red Deer. And that site began operations really 23, but really accelerated in 24. It is one of our fastest growing sites now. And Steve, I'll pass it over to you.

Thanks, Joe. So just looking at our results for the quarter, as Martin mentioned, our Q3 revenue is up approximately 26%. And this is mainly driven by higher patient volumes at all of our clinics across all of our brands. On the year to date, we're up roughly 20% to $65 million compared to $53 million last year. And that, again, that's mainly driven by higher patient visits. And we did have a one-time revenue pickup we talked about in our Q2 results. On the next slide, looking at our adjusted EBITDA. So strong adjusted EBITDA growth both in the quarter and year to date. And this is really driven by our operational improvements. So looking at optimizing the available time that doctors give us to maximize the amount of patients we can get through the clinics. IT investments to help improve doctor's efficiency with respect to using artificial intelligence in their EMR systems, and as well as optimizing our real estate footprint to get the most out of the square footage we have, expanding where we need and contracting at clinics where we have additional space. And to our balance sheet, as Joe mentioned, our balance sheet is in great shape. We finished the quarter with $4.6 million in cash. Our net debt is 1.7 million. And we've been growing that cash balance while we've been investing in our facilities across the country. And this puts us into a great position to start growing the business. We've got a good cash balance that's growing and we've got a great partner with national banks. So we have the availability to increase our leverage and use acquisition lines to move forward as we continue to look at opportunities to grow our business in new markets. And with that, I'll turn it back to you, Joe.