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HALIFAX, Nova Scotia, May 07, 2026 (GLOBE NEWSWIRE) -- NOVA LEAP HEALTH CORP. (TSXV: NLH) (“Nova Leap” or “the Company”), a growing provider of home-based and community care services in North America, is pleased to announce the release of financial results for the quarter ended March 31, 2026. All amounts are in United States dollars unless otherwise specified.

Nova Leap Q1 2026 Financial Results

Financial results for the quarter ended March 31, 2026 include the following:

• Q1 2026 revenues of $7,851,894 increased by 10.7% relative to Q1 2025 revenues of $7,093,624.
• Trailing twelve-month revenues for the period from April 1, 2025 to March 31, 2026 were $32,225,075, the highest for any twelve-month period in the Company’s history.

• Q1 2026 Adjusted EBITDA of $461,308 was an increase of 59.6% over Q1 2025 Adjusted EBITDA of $289,060. (see calculation of Adjusted EBITDA below).
• Trailing twelve-month Adjusted EBITDA for the period from April 1, 2025 to March 31, 2026 was $2,218,421, the highest for any twelve-month period in the Company’s history.

• Gross profit margin as a percentage of revenues remained strong at 39.9% in Q1 2026. Gross profit margin percentage was 39.0% in Q1 2025.
• The Company generated income from operating activities in Q1 2026 of $291,242, an increase of $216,090 from Q1 2025.
• The Company recorded net income of $324,587 in Q1 2026 as compared to a net loss of $78,299 in Q1 2025.
• The Company had available cash of $1,605,102 as of March 31, 2026 as well as full access to the unutilized revolving credit facility of $1,076,117 (CAD$1,500,000).
• The Company had total demand loans and promissory notes outstanding as of March 31, 2026 of $1,962,421, representing a leverage ratio of 0.88 times to trailing twelve-month Adjusted EBITDA.
• On May 1, 2026, the Company acquired the shares of a home care services company located in Nova Scotia, Canada. Under the terms of the agreement, the acquisition was for total consideration of CAD$3,500,000 of which CAD$3,200,000 was payable with cash on closing and CAD$300,000 by way of a promissory note repayable over a three-year period. The cash on closing was funded by way of a CAD$2,200,000 draw on the Company’s acquisition debt facility with its lender and by CAD$1,000,000 of cash on hand.
• As of the current date, the Company has access to up to $3,050,000 in available credit for business acquisitions through its existing credit agreement to support its long-term growth strategy.
  
  

President & CEO’s Comments

“Nova Leap delivered a strong start to 2026, with Q1 results reflecting continued growth and a meaningful step up in profitability,” said Chris Dobbin, President & CEO. “Revenue increased 10.7% year-over-year, while Adjusted EBITDA grew 59.6%. This level of Adjusted EBITDA growth relative to revenue is consistent with what we would expect to see as the business scales and operating leverage becomes more evident.

On a trailing twelve-month basis, Nova Leap has now reached the highest levels in its history, with revenues exceeding $32 million and Adjusted EBITDA surpassing $2.2 million. More importantly, these results are not isolated. They reflect a business that is operating at a higher level than in prior periods, with improved consistency across the network.

We are continuing to build Nova Leap as an integrated home and community-based care platform. During the quarter, we advanced our care management and palliative care initiatives, both of which remain in the early stages but represent a deliberate expansion of our role within the continuum of care. These investments are being made with a long-term view and are supported by the strength of our core home care operations.

At the same time, we continue to expand within our existing markets, increasing density and strengthening local execution. This remains a core part of our model and supports both organic growth and operating efficiency over time.

Subsequent to quarter end, we completed the acquisition of a home care provider in Nova Scotia, a market where we have strong existing operations. The transaction enhances our scale and expected profitability in the region and is consistent with our approach of pursuing acquisitions that are operationally straightforward, financially accretive, and aligned with our long-term strategy.

Our balance sheet remains in a strong position, with over $3 million of available acquisition capacity. This provides flexibility to continue executing on opportunities as they arise.

The business is performing well, and we remain focused on disciplined execution. As always, our results are driven by the quality of our caregivers and operating teams, who continue to deliver at a high level across the organization.”

This news release should be read in conjunction with the Unaudited Condensed Interim Consolidated Financial Statements for the three months ended March 31, 2026 and 2025 including the notes to the financial statements and Management's Discussion and Analysis dated May 7, 2026, which have been filed on SEDAR+.

About Nova Leap
Nova Leap is a North American healthcare services company providing home-based and community-based care. Through its network of local agencies, the Company delivers personal care, dementia care, companion services, care management and palliative care, enabling individuals to remain safely and independently in their homes.

Nova Leap operates an integrated platform across the continuum of care, with a focus on scale, operational excellence, and high-quality outcomes for clients and communities.

NON-IFRS AND OTHER MEASURES:

This release contains references to certain measures that do not have a standardized meaning under IFRS as prescribed by the International Accounting Standards Board (“IASB”) and are therefore unlikely to be comparable to similar measures presented by other companies. Rather, these measures are provided as additional information to complement IFRS measures by providing a further understanding of operations from management’s perspective. Accordingly, non-IFRS financial measures should not be considered in isolation or as a substitute for analysis of financial information reported under IFRS. The Company presents non-IFRS financial measures, specifically Adjusted EBITDA (as such term is hereinafter defined), as well as supplementary financial measures such as annualized revenue and annualized adjusted EBITDA. The Company believes these non-IFRS financial measures are frequently used by lenders, securities analysts, investors and other interested parties as a measure of financial performance, and it is therefore helpful to provide supplemental measures of operating performance and thus highlight trends that may not otherwise be apparent when relying solely on IFRS financial measures.

Adjusted Earnings before interest, taxes, amortization and depreciation (“Adjusted EBITDA”), is calculated as income from operating activities plus amortization and depreciation and stock-based compensation expense. The most directly comparable IFRS measure is income from operating activities.

The reconciliation of Adjusted EBITDA to the income from operating activities is as follows:

FORWARD LOOKING INFORMATION:

Certain information in this press release may contain forward-looking statements, such as statements regarding future expansions and cost savings and plans regarding future acquisitions and business growth, including anticipated revenues growth, annualized revenue or annualized recurring revenue run rate growth and anticipated consolidated Adjusted EBITDA margins. This information is based on current expectations and assumptions, including assumptions described elsewhere in this release and those concerning general economic and market conditions, availability of working capital necessary for conducting Nova Leap’s operations, availability of desirable acquisition targets and financing to fund such acquisitions, and Nova Leap’s ability to integrate its acquired businesses and maintain previously achieved service hour and revenue levels, that are subject to significant risks and uncertainties that are difficult to predict. Actual results might differ materially from results suggested in any forward-looking statements. All forward-looking statements, including any financial outlook or future-oriented financial information, contained in this press release are made as of the date of this release and included for the purpose of providing information about management's current expectations and plans relating to the future, and these statements may not be appropriate for other purposes. The Company assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those reflected in the forward-looking statements unless and until required by securities laws applicable to the Company. Additional information identifying risks and uncertainties is contained in the Company's filings with the Canadian securities regulators, which filings are available at www.sedarplus.com. 

CAUTIONARY STATEMENT:

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

A photo accompanying this announcement is available at

https://www.globenewswire.com/NewsRoom/AttachmentNg/a1093558-bfa0-423d-827b-10c04fa3374d

https://www.globenewswire.com/NewsRoom/AttachmentNg/e3b61a21-cfc0-4cb1-a906-8b3e93d95b95

For further information:

Chris Dobbin, CPA, ICD.D
Director, President and CEO   
T: 902 401 9480  
E: cdobbin@novaleaphealth.com

Revenue in USD $

Revenue in USD $

Adjusted EBITDA & Operating Income (Loss) in USD $

Adjusted EBITDA & Operating Income (Loss) in USD $

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