Mr. Mitchell Geisler reports

LEVELJUMP HEALTHCARE CORP. ANNOUNCES RECORD REVENUES; Q2 REVENUE INCREASE OF 34%

Leveljump Healthcare Corp. has released its financial results for the fiscal quarter ended June 30, 2023. All amounts are expressed in Canadian dollars.

Financial and operational highlights:

• Revenues from Canadian Teleradiology Services Inc. (CTS) operations hits record level with $3,122,046 in revenues for the second quarter.
• Gross profit from CTS operations was $912,353 for the quarter, a 29-per-cent margin (2-per-cent increase from margins in Q1 2023).
• CTS year-over-year Q2 revenue increased 34 per cent.

Management comments

"We had another record quarter of revenue and are now tracking over $12-million annually in revenues," said Mitch Geisler, chief executive officer. "As our Yonge Sheppard location comes on line and once we close the Alberta acquisition, we expect revenues to grow to over $20-million annually with a margin of over 30 per cent and the company's EBITDA to be healthy and consistently positive."

Non-IFRS (international financial reporting standards) financial measures

This news release contains financial terms (such as adjusted EBITDA (earnings before interest, taxes, depreciation and amortization)) that are not considered in IFRS. Such financial measures, together with measures prepared in accordance with IFRS, provide useful information to investors and shareholders, as management uses them to evaluate the operating performance of the company. The company's determination of these non-IFRS measures may differ from other reporting issuers and therefore is unlikely to be comparable with similar measures presented by other companies. Further, these non-IFRS measures should not be considered in isolation or as a substitute for measures of performance or cash flows prepared in accordance with IFRS. These financial measures are included because management uses this information to analyze operating performance and liquidity.

Adjusted EBITDA and annual revenue run rate

Management believes adjusted EBITDA is a useful supplemental measure to determine the company's ability to generate cash available for working capital, capital expenditures, debt repayments, interest expense and income taxes.

EBITDA refers to net income (loss) determined in accordance with IFRS, before depreciation and amortization, net interest expense (income) and income tax expense (recovery). The company defines adjusted EBITDA as EBITDA plus stock-based compensation expense, restructuring, fair value adjustments, listing expense and transaction costs, impairment, and finance income.

A reconciliation of adjusted EBITDA to net income (loss) is provided in the attached table.

About Leveljump Healthcare Corp.

Leveljump Healthcare provides telehealth solutions to client hospitals and imaging centres through its teleradiology division, as well as in-person radiology services through its IHFs (independent health care facilities). Leveljump focuses primarily on critical care for urgent and emergency patients, establishing integral relationships in the communities the company serves.

We seek Safe Harbor.