Neupath Health Inc.

Good morning, everyone, and welcome to NewPath Health's Q2 2026 earnings call. Today is August the 13th, 2026. Financial statements and MD&A have been filed and are available on the CDAR Plus website. Stephen Lemieux, Chief Executive Officer, and Jeff Zygouras, NewPath's Chief Financial Officer, will present the company's financial results and provide a business update, followed by a Q&A session. Investors are encouraged to submit their questions via the Q&A box, and we will address them at the end of the session. Please make your questions clear and succinct. Welcome, gentlemen, and please begin your presentation.

Great. Thank you, Martin. Thank you everyone for joining us. We're just going to go through a brief presentation on the quarter and then we'll open the floor up to questions. So just a quick recap about NUPATH. So we are one of Canada's largest operators of community-based medical facilities, focusing on treating chronic and MSK pain. We have approximately 160 healthcare professionals in our network that see roughly 200,000 patients annually. And majority of our patients are referred to us from a network of over 5,000 referring physicians. We operate 12 facilities in Canada, mostly in Ontario and Alberta and we continue to have a high patient satisfaction rating. In our second quarter highlights, so to note here in our Q2 of 2025, we had a material one-time payment. It impacted revenue by 1.9 million and adjusted EBITDA by 0.6 million. We've revised the numbers you'll see in this presentation to reflect excluding that impact. So excluding that impact, our revenue grew 7% to 23.2 million, adjusted EBITDA grew 3% to 1.7%. We continue to be under levered, so we're at 0.4 times, which gives us a lot of capacity to work on some of the business development transactions we're looking at. Capacity utilization increased to 56% from 52, and we had record patient visits in the quarter that grew 6%. I'll now turn it over to Jeff to walk through our financial numbers.

Thank you, Stephen. Good morning, everybody. And thank you, Martin, for having us here today to be with you. So turning to our financial results for the quarter ended June 30th, 2026. And again, just a reminder to the audience that we previously disclosed the one-time award that Stephen just mentioned, which had a positive impact of 1.9 million to revenue in Q2 of 2025, as well as a positive impact on adjusted EBITDA and gross margin. Removing that one-time event, revenue grew by 7% to 23.2 million, for the three months ended June 30th, 2026, and adjusted EBITDA grew by 3% to $1.7 million for the same quarter. During the quarter, adjusted EBITDA was lower than expected due to some professional fees that were incurred in order to recruit some additional physicians and healthcare professionals that we anticipate will drive revenue in future quarters and future years. We also had an operational issue with one of our fluoroscopy suites at one of our clinics, which led to some downtime during the second quarter and had a negative impact on revenue and adjusted EBITDA. Next slide, please. On a year to date basis, we continue to see strong revenue growth and continued strength to the bottom line and adjusted EBITDA. with revenue growth of 9% to $44.7 million and adjusted EBITDA growth of approximately 8% to $3.2 million when adjusted for the one-time payment. Back to you.