PharmaCorp Rx Inc. Reports Q2 2025 Financial Results

Toronto Star

3 days ago

SASKATOON, Saskatchewan, Aug. 15, 2025 (GLOBE NEWSWIRE) — PHARMACORP RX INC. ('PharmaCorp' or the 'Corporation') (TSXV: PCRX) a growing national platform for pharmacist-led community pharmacy ownership, today reported its financial results for the three and six months ended June 30, 2025.
The second quarter reflected continued operational momentum, expanding pharmacy-level contribution, and disciplined progress on the Corporation's national acquisition strategy. Following quarter-end, PharmaCorp completed the acquisition of a fourth pharmacy in Western Canada, building further scale and reinforcing the platform's coast-to-coast ambitions.
Q2 2025 Financial Highlights
Revenues generated from three operating pharmacies, with continued growth in both prescription volumes and front-of-store sales
Operating infrastructure was successfully deployed to support national scalability, including systems integration, pharmacy onboarding, and co-ownership execution
Net loss for the quarter reflects continued investment in corporate infrastructure and the catch-up of executive compensation deferred from 2024
Solid pharmacy-level contribution margins and a consistent weighted average EBITDA multiples across acquisitions support PharmaCorp's long-term accretive growth model
A strong balance sheet positions the Corporation to fund additional acquisitions already under letter of intent
Same-store sales, a supplementary financial measure, increased 11.3% year-over-year compared to Q2 2024, reflecting continued organic growth across our pharmacy network
Prescription volumes continue to grow, with total script count rising 3.5% year-over-year compared to Q2 2024, demonstrating sustained patient engagement and activity across the network
Management Commentary
'We are pleased with the momentum we're seeing across our early acquisitions and the continued appetite from independent pharmacy owners exploring succession,' said Alan Simpson, Executive Chairman of PharmaCorp. 'This quarter reflects continued progress in scaling our platform through disciplined execution. We continue to maintain a consistent, disciplined weighted average EBITDA multiple across our acquisitions, which supports our goal of delivering accretive growth. As we expand our national footprint, we remain focused on sourcing high-quality pharmacies that align with our long-term acquisition strategy and contribute meaningfully to accretion.'
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Operational Update
During the quarter, the Corporation made key investments in systems, personnel, and integration processes necessary to support scalable national growth. The reported net loss includes compensation charges related to deferred 2024 executive remuneration, which were brought current in Q2 as part of aligning leadership incentives with long-term shareholder value.
Subsequent Events
On July 31, 2025, the Corporation closed the acquisition of its fourth pharmacy, located in Western Canada, further expanding its national footprint and operating base under the PharmaCorp co-ownership platform.
On August 13, 2025, the Corporation entered into a credit agreement with Canadian Imperial Bank of Commerce ('CIBC') providing the Corporation with up to $20,500,000 of committed credit facilities (the 'Credit Facilities'), plus a $10,000,000 accordion feature and a $1,000,000 Visa credit facility. The Credit Facilities will support PharmaCorp's acquisition strategy and the expansion of its acquisition and operating platforms. In conjunction with the above Credit Facilities, CIBC is also supporting PharmaCorp's Pharmacist Co-Ownership Program through a separate $5,000,000 credit facility which makes loans available to pharmacists wishing to acquire an ownership position in the PharmaCorp pharmacy where they work.
Pipeline Progress
PharmaCorp continues to advance its previously announced pipeline of transactions. The Corporation is actively working to finalize definitive purchase and sale agreements in furtherance of the letters of intent announced on May 29, 2025, and expects to close additional transactions in the second half of the year.
Further Information
For comprehensive disclosure of PharmaCorp's financial performance for the three and six months ended June 30, 2025 and its financial position as at such date, please see PharmaCorp's unaudited Condensed Consolidated Interim Financial Statements and related Management's Discussion and Analysis for the three and six months ended June 30, 2025 filed on SEDAR+ at www.sedarplus.ca.
Supplementary Financial Measures
This news release also makes reference to 'same-store sales', which is a supplementary financial measure. 'Same-store sales' is defined as sales from pharmacy locations owned and operated by PharmaCorp as at the current reporting period end and historical sales information from the pharmacies operating systems. It is used to provide investors with a supplemental measure of the Corporation's operating performance and thus highlight trends in its core business that may not otherwise be apparent when relying solely on IFRS financial measures. Management uses supplementary financial measures such as same-store sales in order to facilitate operating performance comparisons from period to period. Management also believes that supplementary financial measures are meaningful to investors because they enable investors to better understand the level of growth of our business. The Corporation cautions readers that same-store sales used in this news release may not be comparable to similar measures used by other issuers.
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About PharmaCorp Rx Inc.
PharmaCorp Rx Inc. is a Canadian pharmacy acquisition and ownership platform focused on empowering pharmacists to become equity partners while supporting continuity of care and succession for retiring pharmacy owners. PharmaCorp combines operational support, capital, and strategic guidance to build a national network of locally rooted community pharmacies. PharmaCorp currently operates four PharmaChoice Canada bannered pharmacies in Canada and will continue to acquire PharmaChoice Canada branded pharmacies as they come to market in conjunction with its strategic alliance agreement with PharmaChoice Canada. The Corporation will also acquire independently owned non-PharmaChoice Canada bannered pharmacies in Canada, and thereafter, continue to operate such acquired pharmacies under a ‎PharmaChoice Canada banner. PharmaCorp shares trade on the TSX Venture Exchange under the symbol: PCRX.
PharmaCorp actively welcomes discussions with pharmacy owners considering succession or sale. For more information about our acquisition program and process, please visit www.PharmaCorpRx.ca or contact our team confidentially. We are committed to seamless transitions that protect your legacy and serve your community.
For further information, please contact:
Investor Relations
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Neither the 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.
Forward-Looking Information: This news release contains 'forward-looking information' regarding the Corporation within the meaning of applicable Canadian securities legislation. All statements, other than statements of historical fact, included herein are forward-looking information. In particular, this news release contains forward-looking information in relation to: the Corporation's continued operational momentum, expanding pharmacy-level contribution, and disciplined progress on the Corporation's national acquisition strategy; the Corporation's coast-to-coast platform and acquisitions ambitions; the Corporation's long-term accretive growth model; the funding available for acquisitions already under letters of intent; the continued appetite from independent pharmacy owners exploring succession; the Corporation's goal of delivering accretive growth; the Corporation's focus on sourcing high-quality pharmacies that align with its long-term acquisition strategy and contribute meaningfully to accretion; the Credit Facilities, including the accordion feature, the impact of the Credit Facilities on the Corporation's acquisition strategy and its acquisition and operating platforms; the Pharmacist Co-Ownership Program including the $5,000,000 credit facility to support the program, the availability of the $5,000,000 credit facility and the terms of this credit facility; the Corporation's work to finalize definitive purchase and sale agreements in furtherance of previously announced letters of intent; the Corporation's expectation to close additional transactions in the second half of the year; and the Corporation's goal to continue to acquire pharmacies as they come to market and to operate such pharmacies under the PharmaChoice Canada banner. This forward-looking information reflects current beliefs and is based on information currently available to the management of the Corporation and on assumptions the Corporation believes are reasonable. These assumptions include, but are not limited to: the completion of previously announce acquisitions; market acceptance of previously announced acquisitions‎; the continued appetite from independent pharmacy owners exploring succession; market acceptance of the Pharmacist Co-Ownership Program and the terms of the credit facility under such program; the volume of acquisition opportunities presented to the Corporation being equal to or greater than historical volumes; and the continued supply of pharmacies for purchase by the Corporation at prices satisfactory to the Corporation and the ability of the Corporation to acquire such pharmacies. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Corporation to be materially different from those expressed or implied by such forward-looking information. Such risks and other factors may include, but are not limited to: general business, economic, competitive, political and social uncertainties; general capital market conditions and market prices for securities; delay or failure to receive board of directors, third party or regulatory approvals; competition; changes in legislation, including pharmacy regulation, affecting the Corporation; the timing and availability of external financing on acceptable terms; conclusions of economic evaluations and appraisals; and lack of qualified, skilled labour or loss of key individuals. A description of additional risk factors that may cause actual results to differ materially from forward-looking information can be found in the Corporation's disclosure documents on the SEDAR+ website at www.sedarplus.ca. Although the Corporation has attempted to identify important risks and factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. Readers are cautioned that the foregoing list of factors is not exhaustive. Readers are further cautioned not to place undue reliance on forward-looking information as there can be no assurance that the plans, intentions or expectations upon which they are placed will occur. Forward-looking information contained in this news release is expressly qualified by this cautionary statement. The forward-looking information contained in this news release represents the expectations of the Corporation as of the date of this news release and, accordingly, is subject to change after such date. However, the Corporation expressly disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities law.