Saskatoon councillors brace for budget cuts
WATCH: Saskatoon city councillors got another preview of the upcoming city budget on Wednesday. It doesn't look good.
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National Post
29 minutes ago
- National Post
NEUPATH HEALTH REPORTS SECOND QUARTER 2025 RESULTS
Article content TORONTO — NeuPath Health Inc. (TSXV:NPTH), ('NeuPath' or the 'Company'), owner and operator of a network of clinics delivering category-leading chronic pain treatment, today announced its financial and operating results for the three and six months ended June 30, 2025 and information regarding the Company's investor webinar on Thursday, August 21, 2025. All figures are in Canadian dollars, unless otherwise noted. Article content 'Our core business continues to perform well, supported by improved capacity utilization, strong early demand for Arthrosamid ®, and the continued focus by the entire NeuPath team on the patient journey and outcomes,' said Joe Walewicz, NeuPath's Chief Executive Officer. 'Adjusting for the benefit of a one-time retroactive payment, we delivered strong growth and improved cash flows that reflect the work of our team to mitigate cost pressures and optimize our clinic footprint. We expect further investments in the second half of the year to enhance our clinic network, and with the addition of Stephen Lemieux as President, we are accelerating our focus on strategic opportunities. We believe we are well-positioned for continued growth in the second half of 2025 and beyond.' Article content Financial and Operational Highlights Article content Record total revenue of $23.6 million and $43.0 million for the three and six months ended June 30, 2025, up 25% and 18% year-over-year; Adjusted EBITDA was $2.2 million and $3.5 million for the three and six months ended June 30, 2025, up 69% and 61% year-over-year; For the six months ended June 30, 2025, capacity utilization improved to 79%, up from 75% for the six months ended June 30, 2024; As at June 30, 2025, the Company had $3.8 million in cash and cash equivalents and interest-bearing long-term debt of $6.5 million; and Following the launch of Arthrosamid (2.5% iPAAG) in March, there was substantial uptake in Q2, with continued patient interest in this novel procedure. Article content Q2 2025 Financial Results Article content Total Revenue Article content Total revenue is comprised of clinic revenue and non-clinic revenue. Total revenue was $23.6 million and $43.0 million for the three and six months ended June 30, 2025 compared to $18.9 million and $36.4 million for the three and six months ended June 30, 2024. Article content Clinic Revenue Article content Clinic revenue is generated through the provision of medical services to patients. Clinic revenue was $22.2 million and $40.3 million for the three and six months ended June 30, 2025 compared to $17.3 million and $33.4 million for the three and six months ended June 30, 2024. The increase in clinic revenue for the three and six months ended June 30, 2025 was primarily due to positive adjustments to physician reimbursement rates including a material one-time payment in the quarter related to prior period physician reimbursements and stronger revenues from fluoroscopy. Capacity utilization was 84% and 79% for the three and six months ended June 30, 2025 compared to 77% and 75% in the three and six months ended June 30, 2024. The improvement in capacity utilization was primarily driven by stronger revenues and the continued optimization of clinic space. Article content Non-clinic Revenue Article content Non-clinic revenue was $1.4 million and $2.7 million for the three and six months ended June 30, 2025 compared to $1.6 million and $2.9 million for the three and six months ended June 30, 2024. Non-clinic revenue is earned from physician staffing allocation services where the Company provides physicians for provincial and federal correctional institutions across Canada, and from contract research services provided to pharmaceutical companies and clinical research organizations. This revenue fluctuates depending on the need for physicians in certain institutions and the timing and enrolment of clinical studies that the Company is working on. Article content Gross margin % was 19.8% and 19.4% for the three and six months ended June 30, 2025 compared to 20.0% and 19.3% for the three and six months ended June 30, 2024. The increase in gross margin during the current three and six-month periods was primarily driven by positive adjustments to physician reimbursement rates including a material one-time payment in the quarter related to prior period physician reimbursements and stronger revenues from fluoroscopy (see Non-IFRS Financial Measures – Gross Margin and Gross Margin %). Article content Adjusted EBITDA was $2.2 million and $3.5 million for the three and six months ended June 30, 2025 compared to $1.3 million and $2.2 million for the three and six months ended June 30, 2024. Article content Liquidity and Capital Resources Article content As at June 30, 2025, the Company's net debt was $2.7 million, an improvement from $3.1 million as at June 30, 2024. The Company's net debt as at June 30, 2025 consisted of $3.8 million of cash and cash equivalents and long-term debt of $6.5 million compared to $2.9 million of cash and cash equivalents and long-term debt of $6.0 million as at June 30, 2024. Article content For more information see Note 5, Long-Term Debt in the Company's Condensed Consolidated Interim Financial Statements for the three and six months ended June 30, 2025, and Note 6, Long-Term Debt in the Company's Condensed Consolidated Interim Financial Statements for the three and six months ended June 30, 2024. Article content Non-IFRS Financial and Other Measures Article content The Company discloses non-IFRS measures (such as EBITDA, Adjusted EBITDA, and gross margin) and non-IFRS ratios (such as gross margin %) that do not have standardized meanings prescribed by International Financial Reporting Standards ('IFRS'). The Company believes that shareholders, investment analysts and other readers find such measures helpful in understanding the Company's financial performance. Non-IFRS financial measures and other measures do not have any standardized meaning prescribed by IFRS and may not have been calculated in the same way as similarly named financial measures presented by other reporting issuers and therefore unlikely to be comparable to similar measures presented by other companies. Furthermore, these non-IFRS measures and other measures should not be considered in isolation or as a substitute for measures of performance or cash flows as prepared in accordance with IFRS. These measures should be considered as supplemental in nature and not as a substitute for related financial information prepared in accordance with IFRS. Article content EBITDA and Adjusted EBITDA Article content 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, excluding stock-based compensation expense, executive long-term performance and retention bonus, restructuring costs, gain on derecognition of other obligations, fair value adjustments, transaction costs, impairment charges, gain on sale of building, government loans forgiveness, finance income and loss or gain on sale of property, plant and equipment. Management believes EBITDA and Adjusted EBITDA are useful supplemental non-GAAP measures to determine the Company's ability to generate cash available for operations, working capital, capital expenditures, debt repayments, interest expense and income taxes. Article content Three months ended June 30 Six months ended June 30 2025 2024 2025 2024 $ $ $ $ Net and comprehensive income 342 362 15 18 Add back: Depreciation and amortization 574 553 1,171 1,134 Interest cost 189 240 485 479 Income tax expense 148 66 281 123 EBITDA 1,253 1,221 1,952 1,754 Add back: Stock-based compensation 52 30 95 64 Transaction costs 406 70 759 354 Executive long-term performance and retention bonus 525 – 700 – Adjusted EBITDA 2,236 1,321 3,506 2,172 Attributed to: Shareholders of NeuPath Health Inc. 2,102 1,235 3,235 2,032 Non-controlling interest 134 86 271 140 2,236 1,321 3,506 2,172 Article content Gross Margin and Gross Margin % Article content 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 ('COMS'). Gross margin % is calculated as gross margin divided by total revenue. Article content The following table provides a reconciliation of total revenue to gross margin: Article content (1) Gross margin and gross margin % are non-IFRS measures. Please refer to Non-IFRS Financial Measures above. Article content For further details on the results, please refer to NeuPath's Management, Discussion and Analysis and Condensed Consolidated Interim Financial Statements for the three and six months ended June 30, 2025, which are available on the Company's website ( and under the Company's profile on SEDAR+ ( Article content Event: Article content Article content Presentation Date & Time: Article content Thursday, August 21, 2025 at 10:00 AM ET / 7:00 AM PT Article content Article content Webcast Registration Link: Article content About NeuPath Article content NeuPath operates a network of healthcare clinics and related businesses focused on improved access to care and outcomes for patients by leveraging best-in-class treatments and delivering patient-centered multidisciplinary care. We operate a network of medical clinics in Ontario and Alberta that provide comprehensive assessments and rehabilitation services to patients with chronic pain, musculoskeletal/back injuries, sports related injuries and concussions. In addition, NeuPath provides workplace health services and independent medical assessments to employers and disability insurers through a national network of healthcare providers, as well as contract research services to pharmaceutical and biotechnology companies. NeuPath is focused on enabling each individual to live their best life. For additional information, please visit Article content Forward-Looking Statements Article content This news release contains forward-looking statements. All statements, other than statements of historical fact, that address activities, events or developments that the Company believes, expects or anticipates will or may occur in the future including, without limitation, the Company's expectation of continued operational improvements in 2025 and the execution of the Company's growth opportunities are forward-looking statements. These forward-looking statements reflect the current expectations or beliefs of the Company based on information currently available to the Company. Forward-looking statements are subject to a number of risks and uncertainties that may cause the actual results of the Company to differ materially from those discussed in the forward-looking statements, and even if such actual results are realized or substantially realized, there can be no assurance that they will have the expected consequences to, or effects on, the Company. Factors that could cause actual results or events to differ materially from current expectations included in this news release include, among other things, adverse market conditions, risks associated with obtaining and maintaining the necessary governmental permits and licenses related to the business of the Company, increasing competition in the market and other risks generally inherent in the chronic pain, sports medicine, concussion and workplace health services markets. A comprehensive discussion of these and other risks and uncertainties can be found in the Company's Annual Information Form dated March 26, 2025 filed on SEDAR Article content + Article content . Article content Any forward-looking statement speaks only as of the date on which it is made and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise. Although the Company believes that the assumptions underlying the forward-looking statements are reasonable, forward-looking statements are not guarantees of future performance and accordingly undue reliance should not be put on such statements due to their inherent uncertainty. Article content Article content Article content Article content Article content Contacts Article content Article content Article content
National Post
29 minutes ago
- National Post
Realbotix Reports Financial Results for Q3-2025
Article content LAS VEGAS — Realbotix Corp. (TSX-V: XBOT) (Frankfurt Stock Exchange: 76M0.F) (OTC: XBOTF) (' Realbotix ' or the 'Company'), a leading in AI-powered humanoid robots, reports its interim financial results for the three and nine months ended June 30, 2025 (' Q3-2025 '). All dollar figures are reported in United States dollars (' USD '), unless otherwise stated. Article content Q2-2025 Financial and Operating Highlights Article content Article content 97% increase in revenue to $615k (CAD$850k), for the three months ended June 30, 2025, compared to the three months ended June 30, 2024. 173% increase in revenue to $2.2 million (CAD$3.1 million), for the nine months ended June 30, 2025, compared to the nine months ended June 30, 2024. As at August 11, 2025, Realbotix held cash and cash equivalents of $6.0 million (CAD$8.3 million) with an estimated budgeted monthly cash burn of $385k, excluding unforeseen unique expenses that may arise. On May 13, 2025, Realbotix announced a collaboration with Tix4 to deploy an AI powered customer service humanoid robot, running concierge and ticketing AI, as a Tix4 sales representative. This robotic customer service representative was showcased live at The Venetian Resort, Las Vegas, from May 27 to 29, 2025. On May 27, 2025, Realbotix robot 'Melody' was launched and acted as a greeter at the Bitcoin 2025 conference in Las Vegas at the Venetian Expo offering conference attendees directions, speaker schedule, and booth locations. On July 7, 2025, Realbotix announced a new AI development with its robot able to communicate fluently in 15 major languages, with access to more than 147 additional languages and dialects through cloud-based support. On August 5, 2025 Realbotix launched a public activation of its robot 'Melody', who acted as a customer service representative at the Tix4 kiosk in a high traffic tourist location offering information and ticket sales to popular Las Vegas shows and attractions. On August 7, 2025, Realbotix collaborated with Radium to power real-time AI companions on serverless infrastructure, and deliver lightning-fast conversations for its next-generation robotic companions. Article content 'While we are pleased to see gaining traction on robot sales, our focus in 2025 is on building the business, showcasing our robots and AI, establishing partnerships for the future, and having meaningful acceleration of sales into 2026 and beyond,' said Andrew Kiguel, CEO of Realbotix. 'Realbotix has established meaningful relationships and is laying the groundwork for more collaborations as we roll out our updated robot and AI technology. With a healthy fiat cash balance in-hand, the funding of the near-term future growth of the business is budgeted.' Article content Corporate Treasury and Cryptocurrency Update Article content As previously disclosed, Realbotix has been systematically disposing of its liquid cryptocurrency holdings to fund working capital and to reserve sufficient fiat capital for its ongoing operations. As a result, the Company has sold all of its liquid digital assets as of August 11, 2025. In addition, as at August 11, Realbotix holds cash and cash equivalents of $6.0 million (CAD$8.3 million). Article content The Company currently has a monthly cash burn rate of approximately $385,000, assuming current overheads and excluding any unforeseen unique items that may arise. At current operating budget, Realbotix has in excess of 12 months of capital to meet its business requirements. While management prudently manages company expenses, the Company may look to expand its monthly burn if there is a visible return on the use of that capital. The Company does not undertake to update this forward-looking information except as required by law. Article content While the Company had utilized cryptocurrencies as a treasury asset in the past, the volatility inherent in digital assets made it difficult for management to accurately budget for future growth that is capital intensive. Management believes this is the most prudent way to successfully finance the building of its robotics and AI business. In the future, the Company may seek to re-establish a crypto treasury strategy. Article content The Company still has approximately 65 ETH and 9,100 SOL still under receivership with Genesis Global Trading (' Genesis '), with an approximate value, as of August 11, 2025, of $1.9 million and 1,111,111,111 Blaze token with approximate value of $31k. As a result of the uncertainty in collecting the value of these digital assets, they are carried at zero value on the Company's balance sheet. Genesis is undergoing a restructuring and there can be no assurances that Realbotix will be able to realize any value on those digital assets. Article content A complete financial reporting package, including the Interim Financial Statements and Management's Discussion & Analysis, is available on the SEDAR+ website ( Article content An investor call has been scheduled to discuss the Company's Q3-2025 financial results, hosted by CEO Andrew Kiguel, starting at 1:00 pm ET on August 14, 2025. Date: August 14, 2025 Article content Zoom Webinar Registration: Article content Article content To join the webinar, register using the link provided above. Upon registration, a Zoom link will be emailed to the registered email address. The webinar will be available via computer, tablet, and smartphone devices. In addition, a dial-in phone number will be provided in the email upon registration. Callers dialing in using a telephone will automatically be placed in a listen-only mode. The question period will not be available to dial-in callers. Article content Realbotix designs and manufactures AI powered humanoid robots that improve the human experience through connection, companionship and intelligent interaction. Article content Manufactured in the United States, Realbotix specializes in realistic, customizable robots built for entertainment, customer service, and personal well-being. Our patented AI and robotics technologies enable lifelike expression, motion, and social engagement, making us a category leader in the rapidly evolving field of human-centric robotics. Article content : Product site. Article content Article content : Corporate and Investor site. Article content Forward-Looking Statements Article content This news release includes certain forward-looking statements as well as management's objectives, strategies, beliefs and intentions. Forward looking statements are frequently identified by such words as 'may', 'will', 'plan', 'expect', 'anticipate', 'estimate', 'intend' and similar words referring to future events and results. Forward-looking statements are based on the current opinions and expectations of management. All forward-looking information is inherently uncertain and subject to a variety of assumptions, risks and uncertainties, as described in more detail in our securities filings available at Actual events or results may differ materially from those projected in the forward-looking statements and we caution against placing undue reliance thereon. We assume no obligation to revise or update these forward-looking statements except as required by applicable law. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. Article content Article content Article content Article content Contacts Article content Contact@ Article content Article content Article content
Globe and Mail
29 minutes ago
- Globe and Mail
NG ENERGY ANNOUNCES SPUDDING OF ARUCHARA-4 AT MARIA CONCHITA AND PROVIDES SINU-9 PRODUCTION UPDATE
CALGARY, AB , /CNW/ - NG Energy International Corp. (" NGE" or the " Company") (TSXV: GASX) (OTCQX: GASXF) is pleased to announce the spudding of the Aruchara-4 well at Maria Conchita and that aggregate gross production from Sinu-9 has reached 22 MMcf/d. The Company is also pleased to provide an operational update for both Maria Conchita and Sinu-9. At Maria Conchita, the Company has commenced drilling of the Aruchara-4 well, which targets the Jimol formation and aims to develop the H1A and H1B accumulations while exploring the potential extension of reserves and resources in the H2 AA section and H3 and H4 fractures, as well as testing the limestone formation on top of the basement of the well. The Aruchara-4 well will be drilled to a total depth of 10,000 feet in four phases and upon successful completion, is expected to be tied in by the end of September 2025 . Following the drilling of the Aruchara-4 well, the rig will immediately commence a workover and recompletion of the Aruchara-3 well to address a downhole mechanical obstruction, restoring it to full production capacity, before moving to commence drilling of the Aruchara-5 well. Sinu-9 At Sinu-9, the Company is pleased to announce that production has increased to 22 MMcf/d while meeting the Unified Transportation Regulation's dew point quality standards. Installation of dew point handling equipment at the Central Processing Facility is nearing completion, with full installation expected by the end of August. Following installation of the dew point handling equipment, aggregate gross production at Sinu-9 is expected to increase up to 30 MMcf/d, filling current pipeline capacity. As announced in the Company's June 23, 2025 , news release, construction is underway on a twin pipeline with the Company's infrastructure partner INFRAES, which will double transportation capacity from Sinu-9. This project is being completed in two phases: (1) an 18-kilometer loop from Jobo along the existing right-of-way, which will increase transportation capacity at Sinu-9 to 40 – 45 MMcf/d; and (2) the full twin pipeline, which will increase transportation capacity at Sinu-9 to 60 MMcf/d and is expected to be completed in Q1 2026. About NG Energy International Corp. NG Energy International Corp. is a growth-orientated natural gas exploration and production company focused on delivering long-term shareholder and stakeholder value through the discovery, delineation and development of large-scale natural gas fields in the Americas, supporting energy transition and economic growth. NGE's team has extensive technical and capital markets expertise with a proven track record of building companies and creating significant value in South America . In Colombia , the Company is executing on this mission with a rapidly growing production base and an industry-leading growth trajectory, delivering natural gas into the premium-priced Colombian marketplace ( ~US$8 /MMBtu) with projected triple digit production growth over the next 2-3 years towards a production goal of 200 MMcf/d. To date, the Company has raised over US$200 million in debt and equity and has constructed and commissioned 3 gathering, processing and treatment facilities and associated pipelines with gross processing and transportation capacity of 60 MMcf/d expected in Q3 2025 with significant capital contributions from insiders who currently own approximately 32% of the Company. For more information, please visit SEDAR+ ( and the Company's website ( Cautionary Statement Regarding Forward-Looking Information This news release contains "forward-looking information" and "forward-looking statements" (collectively, "forward-looking statements") within the meaning of the applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this news release, including, without limitation, statements related to the timeline for completion of the drilling of the Aruchara-4 well, the timeline for the tie-in of the Aruchara-4 well, future uses for the rig at Maria Conchita, timeline for completion of full installation of the dew point handling equipment at the Central Processing Facility, future aggregate gross production volumes at Sinu-9 and the timeline for completion of the twin pipeline at Sinu-9. Any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as "expects", or "does not expect", "is expected", "anticipates" or "does not anticipate", "plans", "budget", "scheduled", "forecasts", "estimates", "believes" or "intends" or variations of such words and phrases or stating that certain actions, events or results "may" or "could", "would", "might" or "will" be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Factors that could cause actual results to differ materially from those anticipated in these forward-looking statements are described under the caption "Risk Factors" in the Company's most recent Management Discussion and Analysis and its Annual Information Form dated April 28, 2025 , which are available for view on SEDAR+ at These risks include but are not limited to, the risks associated with the oil and natural gas industry, such as exploration, production and general operational risks, the volatility of pricing for oil and natural gas, the inability to market natural gas production and changes in natural gas sale prices, changing investor sentiment about the oil and natural gas industry, any delays in production, marketing and transportation of natural gas, drilling costs and availability of equipment, regulatory approval risks and environmental, health and safety risks. Forward-looking statements contained herein are made as of the date of this news release, and the Company disclaims, other than as required by law, any obligation to update any forward-looking statements whether as a result of new information, results, future events, circumstances, or if management's estimates or opinions should change, or otherwise. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, the reader is cautioned not to place undue reliance on forward-looking statements. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. Abbreviations The abbreviations set forth below have the following meanings: Information Regarding the Company's Working Interest Disclosure With regard to the Company's working interests held in both the Maria Conchita and Sinu-9 Blocks, in both the context of this news release and the Company's previous news releases, the term "working interest", ultimately refers to the rights and obligations agreed to, eventually, materialize a contractual interest in an exploration and production contract before the ANH, subject to the fulfillment of certain conditions. These conditions involve the assumption of financial risks and are generally linked to exploration by virtue of joint operating agreements. Once such conditions are fulfilled, the acquisition of a registered contractual interest, as party of record, in the exploration and production contract may materialize, by way of a request for approval of assignment before the ANH. For this reason, as is common practice within the oil and natural gas industry as a whole, the disclosed "working interest" may not coincide with the Company's current contractual interest in the exploration and production contract. The assignment and allocation of "working interests" does not affect or undermine, in any way, the rights and obligations of registered parties under the relevant exploration and production contracts. Registered parties remain wholly and totally liable before the ANH, the Colombian authorities and third parties in connection with any and all obligations, risks and liabilities derived from the execution, performance or termination of the exploration and production contracts. Conversely, the rights and obligations that comprise "working interests" are only enforceable vis a vis between the executing parties under private agreements, and have no legal effects before the ANH, the Colombian authorities or third parties. As of the date hereof, the Company is a party of record and holds a 51% contractual interest in the exploration and production contract for the Sinu-9 Block granted by and entered into with ANH. However, under the private agreements regarding the working interests in the Sinu-9 Block, the Company holds a 72% working interest. This means a 21% working interest is yet to be assigned and acknowledged as a contractual interest in the exploration and production contract, given the conditions to do so, including ANH approval, are yet to be fulfilled. Once these conditions are met, the Company will submit an approval request with ANH. As disclosed in the Company's news release dated February 10, 2025 , the Company has agreed to sell a 40% contractual interest in the exploration and production contract for the Sinu-9 Block to Etablissements Maurel & Prom S.A., effective as of February 1, 2025 . Additionally, Clean Energy Resources S.A.S. remains the operator of record under such exploration and production contract and before the ANH. With respect to the Maria Conchita Block, the Company holds 100% of the contractual interest as the sole party and operator of record under the relevant exploration and production contract entered into with the ANH, and holds an 80% working interest under private agreements with third parties.
