FUJIFILM VisualSonics Launches the Vevo F2 LAZR-X20 Photoacoustic Imaging Platform for Preclinical Ultrasound
The world's first ultra-high to low frequency ultrasound system is designed to enhance research efforts across multiple applications, including oncology, cardiovascular, neurobiology and molecular biology
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TORONTO — FUJIFILM VisualSonics Inc., a world leader in ultra-high frequency ultrasound and photoacoustic imaging systems, today announced the availability of the multi-modal Vevo F2 LAZR-X20 Photoacoustic Imaging Platform. The system features high-powered, intelligent laser technology for advanced tissue characterization with high anatomical accuracy for preclinical animal models.
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'For more than two decades, FUJIFILM VisualSonics has been delivering ultra-high frequency ultrasound and photoacoustic imaging solutions to the scientific research community,' said Greg Nesbitt, vice president, global high frequency, FUJIFILM VisualSonics Inc. 'As a leader in the space, we saw an opportunity to expand the scope of questions that can be answered using photoacoustics. The Vevo LAZR-X20 underscores our commitment to constantly innovating and bringing more applications and capabilities to a broader set of research domains.'
The advanced laser technology in the Vevo F2 LAZR-X20 provides enhanced imaging depth and high-resolution in real time, allowing researchers to visualize and measure various tissue types and contrast agents. Leveraging a unique wavelength range of 660-1320 nm, the system unlocks advanced tissue characterization capabilities that were beyond reach with our previous-generation technologies. Tissue chromophores like lipids and collagen, which exhibit unique absorption profiles within this range, can be detected non-invasively. This enables researchers to visualize tumor microenvironments and opens the potential for quantifying therapeutic efficiency. This paves the way for possible deeper insights and more impactful discoveries.
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'This cutting-edge product represents a significant advancement in our portfolio, seamlessly integrating photoacoustics with ultrasound imaging into a single platform,' said Andrew Needles, director, product innovation, FUJIFILM VisualSonics Inc. 'The new system provides excellent image quality and an expanded spectral range, providing researchers with comprehensive data for their imaging studies. We believe this breakthrough technology will not only enhance current research capabilities but also has the potential to unlock new applications, particularly in the fields of oncology and neurobiology.'
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Learn more about the multi-modal Vevo F2 LAZR-X20 here. About Fujifilm FUJIFILM VisualSonics, Inc., is a global leader in real time, in vivo, ultra-high frequency ultrasound and photoacoustic imaging systems. With headquarters in Toronto, Canada and offices around the world, FUJIFILM VisualSonics is represented globally across an integrated sales network. FUJIFILM VisualSonics is recognized worldwide for providing cutting edge imaging technologies for the advancement of preclinical research, particularly in cardiovascular, oncology, neurobiology and developmental biology areas. With the expansion of the product portfolio to include a new preclinical product, FUJIFILM VisualSonics now broadens their range of imaging technologies across the preclinical market. FUJIFILM VisualSonics is a subsidiary of FUJIFILM Sonosite, Inc. and a part of FUJIFILM Holdings Corporation. For more information, please go to: www.visualsonics.com.
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FUJIFILM Holdings Corporation, headquartered in Tokyo, leverages its depth of knowledge and proprietary core technologies to deliver innovative products and services across the globe through the four key business segments of healthcare, electronics, business innovation, and imaging with over 70,000 employees. Guided and united by our Group Purpose of 'giving our world more smiles,' we address social challenges and create a positive impact on society through our products, services, and business operations. Under its medium-term management plan, VISION2030, which ends in FY2030, we aspire to continue our evolution into a company that creates value and smiles for various stakeholders as a collection of global leading businesses and achieve a global revenue of 4 trillion yen (29 billion USD at an exchange rate of 140 JPY/USD). For more information, please visit: https://holdings.fujifilm.com/en.
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National Post
12 minutes ago
- National Post
Bragg Gaming Group Reports Second Quarter 2025 Revenue Increase 4.9% over the Second Quarter of 2024 to EUR 26.1M; 21% year-over-year¹ revenue growth excluding The Netherlands, Proprietary Content Revenue up 44% year over year
Article content TORONTO — Bragg Gaming Group (BRAG:CA) ('Bragg' or the 'Company'), a leading content and technology provider to the online gaming industry, today announced its financial results for the second quarter of 2025. Article content Article content Summary of 2Q25 Financial and Operational Highlights Euros (millions) (1) 2Q25 2Q24 Change Revenue € 26.1 € 24.9 4.9 % Gross profit € 13.7 € 12.4 10.8 % Gross profit margin 52.7 % 49.9 % 280bps Adjusted EBITDA (2) € 3.5 € 3.6 (4.3 )% Adjusted EBITDA Margin (2) 13.3 % 14.5 % (128)bps Operating loss € (2.3 ) € (1.2 ) 93.3 % Article content (1) Bragg's reporting currency is Euros. The exchange rate provided is EUR 1.00 = USD 1.17. Due to fluctuating currency exchange rates, this reference rate is provided for convenience only. (2) 'Adjusted EBITDA' and 'Adjusted EBITDA Margin' are non-IFRS measures. For important information on the Company's non-IFRS measures, see 'Non-IFRS Financial Measures' below. Article content Matevž Mazij, Chief Executive Officer for Bragg, commented: 'In our 2024 strategic review, we identified cash flow, integration and margin as key priorities and value drivers for Bragg Gaming Group. In Q2 we began to focus on integration and optimization. We identified and actioned key areas where we have now optimized our cost structure and have implemented strategies to leverage synergies from acquisitions such as Spin Games and Wild Streak Gaming. Article content Specifically, we have realized EUR 2 Million in annualized synergies from the business, unlocking improved margins for the second half of 2025. Our leadership conducted a comprehensive review of the business to ensure cash flow and margin remain central to all decisions, supported by Bragg's strong underlying cash generation and margin profile. Article content While our top-line growth may appear modest, I want to be clear about our strategic focus. With increasing gaming taxes being implemented in key markets like Brazil, The Netherlands, and Romania, we're prioritizing improved margin and cash flow performance over aggressive revenue expansion. That said, we believe that there are substantial, highly accretive growth opportunities ahead for this business. We intend to pursue these opportunities methodically, with a focus on both margins and cash flow. Article content In terms of content and markets, proprietary content is growing in the U.S. and LatAm. While market conditions in The Netherlands remain challenging with the igaming market gross gaming revenue down 25% this year, Bragg is still outperforming the market, despite these factors coming into play. Article content With this focus on margin and cash flow we have also revised our revenue expectations for the year, while forecasting an improved Adjusted EBITDA Margin for the second half of 2025. We are prioritizing high margin opportunities versus low margin revenue. Article content We've also enhanced our leadership team with two transformational key hires, firstly adding Luka Pataky as our new EVP of AI and Innovation. Luka's appointment comes as we launch an initiative to drive an all encompassing AI-first cultural and technology based change at Bragg. Article content In addition, experienced iGaming industry executive Scott Milford also joins us as our EVP of Group Content, and will propel the next phase in the growth of our online casino content. Article content In summary, we are focused on driving cash flow, integration, and margin, and positioning Bragg for sustainable, profitable growth. The actions taken in Q2 position us to achieve a 20% Adjusted EBITDA Margin target in the second half of 2025.' Article content Key Highlights: Article content Strategic Market Expansion: Launched content with Fanatics Casino across Tri-State area, significantly expanding U.S. content footprint. U.S. Growth Acceleration: Signed exclusive content development agreement with Hard Rock Digital; builds on momentum in U.S. market with increasing share of proprietary content revenue. Brazil Market Focus: Strengthened position in newly regulated Brazilian iGaming market through strategic partnership and investment in local studio RapidPlay. Innovation and Product Development: Launched Big Ticket Bonanza, a gamification tool to drive player engagement. Leadership Strengthening: Appointed Scott Milford as EVP, Group Content, and Luka Pataky as EVP, AI and Innovation, enhancing leadership across AI, content, innovation and technology. Debt: During the quarter, we repaid USD 5.0m of the USD 7.0m secured promissory note that is outstanding. The loan maturity has been extended to September 15, 2025, with an option for a further one-month extension if required. We are in the advanced stages of securing a new working capital revolving debt faculty from a Tier 1 Canadian bank. While the process is taking longer than anticipated, we are optimistic that this will close in Q3. Operational Update: Issued corporate update outlining growth priorities, improved margin initiatives, and expanding addressable markets. Article content 2025 Outlook Article content Previously, the Company anticipated double-digit growth in revenue and Adjusted EBITDA for the full year of 2025 which was driven by a strategic focus on expanding in regulated markets, growing proprietary and exclusive content portfolio, and continuing momentum in growth markets such as the U.S. and LatAm. Article content The Company's focus is on cash flow, integration and margin and as such, while the strategy remains the same, the areas of attention and focus have shifted. The full year 2025 guidance has been revised to reflect higher gaming taxes and market softness in the Netherlands and headwinds in Brazil, as well as broader market conditions impacting key regulated markets. The Company now anticipates full year 2025 revenue between €106.0 million and €108.5 million and Adjusted EBITDA of €16.5 million to €18.5 million. Article content This change reflects a deliberate shift toward higher-quality earnings. The Company is prioritizing margin and cash generation over lower-margin revenue, and synergies realized post-quarter end to become a leaner operation put the Company on track to move Adjusted EBITDA Margin a few percentages higher in the second half of the year compared to the first half of the year. The Company remains focused on growing the business in a sustainable and margin-accretive manner, with strong momentum in the proprietary content and technology pipeline positioning Bragg for long-term profitable growth. Article content Investor Conference Call Article content The Company will host a conference call today at 8:30 a.m. Eastern, and management will discuss the financial and operational performance of the company. A presentation of these results will be made available to download at : To join the call, please use the below dial-in information: Participant Dial-In Numbers USA / International Toll +1 (646) 307-1963 USA – Toll-Free +1 (800) 715-9871 Canada – Toronto +1 (647) 932-3411 Canada – Toll-Free +1 (800) 715-9871 United Kingdom: +44 800 358 0970 Conference ID: 3967732 Article content A webcast of the call may also be followed at: An audio recording of the Event will be available via the Echo Replay platform until August 21, 2025. To access the platform by phone, please dial-in using one of the numbers listed below and input Playback ID: 3967732 followed by # key: Article content Cautionary Statement Regarding Forward-Looking Information Article content This news release contains forward-looking statements or 'forward-looking information' within the meaning of applicable Canadian securities laws ('forward-looking statements'), including, without limitation, statements with respect to the following: the Company's strategic growth initiatives and corporate vision and strategy; financial guidance for 2025, expected performance of the Company's business; expansion into new markets, our strategy for customer retention, growth, product development, and market position; expected future growth and expansion opportunities; expected benefits of transactions; expected future actions and decisions of regulators and the timing and impact thereof. Forward-looking statements are provided for the purpose of presenting information about management's current expectations and plans relating to the future and allowing readers to get a better understanding of the Company's anticipated financial position, results of operations, and operating environment. Often, but not always, forward-looking statements can be identified by the use of words such as 'plans', 'expects' or 'does not expect', 'is expected', 'budget', 'scheduled', 'estimates', 'forecasts', 'intends', 'anticipates' or 'does not anticipate', or 'believes', or describes a 'goal', or variation of such words and phrases or state that certain actions, events or results 'may', 'could', 'would', 'might' or 'will' be taken, occur or be achieved. Article content All forward-looking statements contained in this news release or the conference call reflect the Company's beliefs and assumptions based on information available at the time the statements were made. Actual results or events may differ from those predicted in these forward-looking statements. All of the Company's forward-looking statements are qualified by the assumptions that are stated or inherent in such forward-looking statements, including the assumptions listed below. Although the Company believes that these assumptions are reasonable, this list is not exhaustive of factors that may affect any of the forward-looking statements. The key assumptions that have been made in connection with the forward-looking statements include the regulatory regime governing the business of the Company; the operations of the Company; the products and services of the Company; the Company's customers; the growth of the Company's business, meeting minimum listing requirements of the stock exchanges on which the Company's shares trade; the integration of technology; and the anticipated size and/or revenue associated with the gaming market globally. Article content Forward-looking statements involve known and unknown risks, future events, conditions, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from any future results, prediction, projection, forecast, performance or achievements expressed or implied by the forward-looking statements. Such factors include, among others, the following: risks related to the Company's business and financial position; that the Company may not be able to accurately predict its rate of growth and profitability; risks associated with general economic conditions; adverse industry events; future legislative and regulatory developments; the inability to access sufficient capital from internal and external sources; the inability to access sufficient capital on favourable terms; realization of growth estimates, income tax and regulatory matters; the ability of the Company to implement its business strategies; competition; economic and financial conditions, including volatility in interest and exchange rates, commodity and equity prices; changes in customer demand; disruptions to our technology network including computer systems and software; natural events such as severe weather, fires, floods and earthquakes; any disruptions to operations as a result of the strategic alternatives review process; and risks related to health pandemics and the outbreak of communicable diseases. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. 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, readers should not place undue reliance on forward-looking statements. The Company disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events, or otherwise, except in accordance with applicable securities laws. Article content Non-IFRS Financial Measures Article content Statements in this news release make reference to non-IFRS financial measures, including 'Adjusted EBITDA' and 'Adjusted EBITDA Margin', which are non-IFRS financial measures that the Company believes are appropriate to provide meaningful comparison with, and to enhance an overall understanding of, the Company's past financial performance and prospects for the future. The Company believes these non-IFRS financial measures will provide investors with useful supplemental information about the financial performance of its business, enable comparison of financial results between periods where certain items may vary independent of business performance, and allow for greater transparency with respect to key metrics used by management in operating its business and making decisions. Although management believes these financial measures are important in evaluating the Company, they are not intended to be considered in isolation or as a substitute for, or superior to, financial information prepared and presented in accordance with IFRS. Non-IFRS measures are not recognized measures under IFRS and do not have standardized meanings prescribed by IFRS. These measures may be different from non-IFRS financial measures used by other companies, limiting their usefulness for comparison purposes. These non-IFRS measures and metrics are used to provide investors with supplemental measures of our operating performance and liquidity and thus highlight trends in our business that may nor otherwise be apparent when relying solely on IFRS measures. Article content 'Adjusted EBITDA' means EBITDA after: (i) adding back share based compensation; (ii) adding back or deducting gain (loss) on lease modification; (iii) deducting lease payments recorded as a depreciation of right-of-use assets and lease interest expense; (iv) adding back or deducting gain (loss) on re-measurement of contingent and deferred consideration; (v) adding back or deducting gain (loss) on re-measurement of derivative liabilities; (vi) adding back or deducting gain (loss) on settlement of convertible debt; (vii) adding back or deducting gain (loss) on disposal of intangible assets and (viii) adding back certain exceptional costs. 'Adjusted EBITDA Margin' means Adjusted EBITDA divided by revenue. A reconciliation to IFRS financial measures is provided in this news release as well as in Company's Management's Discussion and Analysis ('MD&A') for the three-month period ended June 30, 2025. Article content Future Oriented Financial Information Article content This news release and, in particular the information in respect of Bragg's prospective revenues, Adjusted EBITDA and Adjusted EBITDA Margin may contain future oriented financial information ('FOFI') within the meaning of applicable securities laws. The FOFI has been prepared by management to provide an outlook on Bragg's proposed activities and potential results and may not be appropriate for other purposes. The FOFI has been prepared based on assumptions with respect to customer growth and market expansion. Bragg and its management believe that the FOFI has been prepared on a reasonable basis, reflecting management's best estimates and judgments; however, the actual results of operations of Bragg and the resulting financial results may vary from the amounts set forth herein and such variations may be material. FOFI contained in this news release was made as of the date of this news release and Bragg disclaims any intention or obligation to update or revise any FOFI contained in this news release, whether as a result of new information, future events or otherwise, unless required pursuant to applicable law. Article content ( Article content , Article content TSX: BRAG Article content ) is an iGaming content and turnkey technology solutions provider serving online and land-based gaming operators with its proprietary and exclusive content, and cutting-edge technology. Bragg Studios offer high-performing and passionately crafted casino game titles using the latest in data-driven insights from in-house brands including Wild Streak Gaming, Atomic Slot Lab and Indigo Magic. Its proprietary content portfolio is complemented by a cross section of exclusive titles from carefully selected studio partners under the Powered By Bragg program. Games built on Bragg's remote games server (Bragg RGS) technology are distributed via the Bragg Hub content delivery platform and are available exclusively to Bragg customers. Bragg's flexible, modern, omnichannel Player Account Management (PAM) platform powers multiple leading iCasino and sportsbook brands and at all points is supported by expert in-house managed, operational, and marketing services. Content delivered via the Bragg Hub either exclusively or from the Bragg aggregated games portfolio is managed from a single back-office which is supported by powerful data analytics tools, and Bragg's award-winning Fuze™ player engagement toolset. Bragg is licensed, certified, approved and operational in many regulated iCasino markets globally, including the U.S., Canada, Brazil, United Kingdom, Italy, the Netherlands, Germany, Sweden, Spain, Malta and Colombia. Article content Article content LinkedIn Article content Article content Facebook Article content Article content Instagram Article content Financial tables follow: Article content Three Months Ended June 30, Six Months Ended June 30, 2025 2024 2025 2024 Revenue 26,079 24,861 51,584 48,672 Cost of revenue (12,336 ) (12,457 ) (23,557 ) (24,391 ) Gross Profit 13,743 12,404 28,027 24,281 Selling, general and administrative expenses (16,091 ) (13,702 ) (31,898 ) (26,089 ) Gain (Loss) on remeasurement of derivative liability — 38 — (140 ) Gain on settlement of convertible debt — — — 65 Gain (Loss) on remeasurement of deferred consideration — 45 (157 ) (600 ) Operating Loss (2,348 ) (1,215 ) (4,028 ) (2,483 ) Net interest expense and other financing charges (14 ) (930 ) (360 ) (1,522 ) Loss Before Income Taxes (2,362 ) (2,145 ) (4,388 ) (4,005 ) Income taxes (expense) recovery 533 (255 ) (81 ) (299 ) Net Loss (1,829 ) (2,400 ) (4,469 ) (4,304 ) Items to be reclassified to net loss: Cumulative translation adjustment (2,680 ) 387 (4,103 ) 4 Net Comprehensive Loss (4,509 ) (2,013 ) (8,572 ) (4,300 ) Basic Loss Per Share (0.07 ) (0.10 ) (0.18 ) (0.18 ) Diluted Loss Per Share (0.07 ) (0.10 ) (0.18 ) (0.18 ) Millions Millions Millions Millions Weighted average number of shares – basic 25.2 24.0 25.1 23.6 Weighted average number of shares – diluted 25.2 24.0 25.1 23.6 Article content As at As at June 30, December 31, 2025 2024 Cash and cash equivalents 4,242 10,467 Trade and other receivables 24,983 20,072 Prepaid expenses and other assets 4,141 2,624 Total Current Assets 33,366 33,163 Property and equipment 1,299 1,341 Right-of-use assets 3,152 3,510 Intangible assets 31,011 35,859 Goodwill 31,235 32,722 Investments 500 — Other assets 378 — Total Assets 100,941 106,595 Trade payables and other liabilities 26,639 19,946 Income taxes payable 445 463 Lease obligations on right of use assets 867 882 Deferred consideration — 1,244 Share appreciation rights liability 525 — Loans payable 1,696 6,579 Total Current Liabilities 30,172 29,114 Deferred income tax liabilities 594 680 Lease obligations on right of use assets 2,376 2,815 Share appreciation rights liability 437 — Other non-current liabilities 487 487 Total Liabilities 34,066 33,096 Share capital 133,253 131,729 Contributed surplus 18,104 17,680 Accumulated deficit (85,679 ) (81,210 ) Accumulated other comprehensive income 1,197 5,300 Total Equity 66,875 73,499 Total Liabilities and Equity 100,941 106,595 Article content BRAGG GAMING GROUP INC. RECONCILIATION OF OPERATING LOSS TO EBITDA AND ADJUSTED EBITDA PRESENTED IN EUROS (THOUSANDS, EXCEPT SHARE AND PER SHARE AMOUNTS) Three Months Ended June 30, Six Months Ended June 30, EUR 000 2025 2024 2025 2024 Net Loss (1,829 ) (2,400 ) (4,469 ) (4,304 ) Income taxes (expense) recovery (533 ) 255 81 299 Loss Before Income Taxes (2,362 ) (2,145 ) (4,388 ) (4,005 ) Net interest expense and other financing charges 14 930 360 1,522 Depreciation and amortization 4,969 3,994 9,689 7,871 EBITDA 2,621 2,779 5,661 5,388 Depreciation of right-of-use assets (215 ) (147 ) (429 ) (373 ) Lease interest expense (25 ) (26 ) (52 ) (60 ) Gain on lease modification (101 ) — Share based compensation 739 420 1,585 604 Exceptional costs 339 672 722 792 (Gain) Loss on remeasurement of derivative liability — (38 ) — 140 Gain on settlement of convertible debt — — — (65 ) (Gain) Loss on remeasurement of deferred consideration — (45 ) 157 600 Article content Article content Article content Article content Contacts Article content For media enquiries or interview requests, please contact: Article content Robert Simmons, Head of Communications at Bragg Gaming Group press@ Article content Investors: Robert Bressler, Chief Financial Officer, Bragg Gaming Group +1 647-480-1591 investors@ Article content
National Post
12 minutes ago
- National Post
Covalon Announces Conference Call to Discuss Third Quarter Fiscal 2025 Financial Results
Article content MISSISSAUGA, Ontario — Covalon Technologies Ltd. (the 'Company' or 'Covalon') (TSXV: COV; OTCQX: CVALF), an advanced medical technologies company, will release its Q3 Fiscal 2025 financial results on Wednesday, August 21, 2025, before markets open. A conference call and webcast to discuss the financial results will be held on Wednesday, August 21, 2025, at 8:30am ET. Article content To view, listen to, and participate in the live webcast, please follow the link below: Article content Article content To listen and participate via the conference call, please dial: Article content North American Toll-Free: 1-800-549-8228 Local (Toronto): 289-819-1520 Local (New York): 646-564-2877 Conference ID: 77702 Article content Participants will be able to ask questions of Company management during the Q&A portion of the conference call either by asking them on the call or by submitting them using the chat function on the webcast. Article content Copies of Covalon's financial statements and MD&A can be obtained on SEDAR PLUS at and under SEDAR Filings on the Investors tab of Covalon's website. Article content About Covalon Article content Covalon is a leading medical device company dedicated to improving patient outcomes through innovative and compassionate medical products and technologies. Our expertise spans advanced wound care, vascular access, and surgical consumables, with a strong focus on enhancing healing, reducing healthcare-associated infections (HAIs), and protecting skin integrity. Our solutions are designed for patients and made for care providers. The Company is listed on the TSX Venture Exchange (COV) and trades on the OTCQX Market (CVALF). To learn more about Covalon, visit our website at Article content . Article content 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. Article content This news release may contain forward-looking statements which reflect the Company's current expectations regarding future events. The forward-looking statements are often, but not always, identified by the use of words such as 'seek', 'anticipate', 'plan', 'estimate', 'expect', 'intend', or variations of such words and phrases or state that certain actions, events, or results 'may', 'could', 'would', 'might', 'will' or 'will be taken', 'occur', or 'be achieved'. In addition, any statements that refer to expectations, projections or other characterizations of future events or circumstances contain forward-looking information. Statements containing forward-looking information are not historical facts, but instead represent management's expectations, estimates, and projections regarding future events. Forward-looking statements involve risks and uncertainties, including, but not limited to, the factors described in greater detail in the 'Risks and Uncertainties' section of our management's discussion and analysis of financial condition and results of operations for the year ended September 30, 2024, which is available on the Company's profile at Article content Article content , any of which could cause results, performance, or achievements to differ materially from the results discussed or implied in the forward-looking statements. Investors should not place undue reliance on any forward-looking statements. The forward-looking statements contained in this news release are made as of the date of this news release, and the Company assumes no obligation to update or alter any forward-looking statements, whether as a result of new information, further events, or otherwise, except as required by law. Article content Article content
National Post
12 minutes ago
- National Post
WELL Health Reports Record Revenue, Adjusted EBITDA, and Adjusted Net Profit in Q2-2025, Upgrades Guidance, and Delivers First-Ever Quarter With More Than 1 Million Patient Visits in Canada
Article content WELL achieved record quarterly revenues of $356.7 million in Q2-2025, an increase of 57% compared to Q2-2024 driven by organic growth and acquisitions. Excluding the impact from Circle Medical's deferred revenue adjustments or 'CM Deferrals', revenue would have been $347.0 million in Q2-2025, representing 53% year-over-year growth. Results were positively impacted during the quarter by the addition of $40.5 million of revenue from the inclusion of HEALWELL AI. WELL achieved record Adjusted EBITDA (1) of $49.7 million in Q2-2025, an increase of 231% compared to Q2-2024. Excluding the impact from CM Deferrals, Adjusted EBITDA would have been $40.0 million in Q2-2025. Improved EBITDA led to record Adjusted Net Income of $25.8 million or $0.10/share which was 532% higher than Q2-2024 and IFRS Net Income of approximately $17M for the quarter. Canadian Patient Services revenue was $114.5 million in Q2-2025, an increase of 49% compared to $76.7 million in Q2-2024, partially driven by organic growth of 17.8% Consolidated gross margins increased by 423 bps to 44.5%. Excluding CM Deferrals, consolidated gross margins would have increased by 270 bps to 43.0%. WELL reaffirms its previously provided annual guidance for annual revenue between $1.40 billion to $1.45 billion with Adjusted EBITDA between $190 million to $210 million. Excluding CM Deferrals, WELL reaffirms guidance for annual revenue between $1.35 billion to $1.40 billion and Adjusted EBITDA between $140 million and $160 million, In both cases, WELL is pleased to improve guidance to the upper half of the guidance ranges noted above. Article content VANCOUVER, British Columbia — WELL Health Technologies Corp. (TSX: WELL, OTCQX: WHTCF) (the ' Company ' or ' WELL '), a digital healthcare company focused on positively impacting health outcomes by leveraging technology to empower healthcare practitioners and their patients globally, is pleased to announce its interim consolidated financial results for the quarter ended June 30, 2025. Article content Hamed Shahbazi, Chairman and CEO of WELL commented, 'I am very proud of our performance this quarter as it reflects a very significant milestone in our history with best-ever performances across most of our key financial metrics. We delivered record performances across Revenue, Adjusted EBITDA, Adjusted Net Income, and patient visits. Furthermore, we would have reported best-ever Free Cash Flow Available to Shareholders had we not had elevated cash taxes and capital expenditures due to new investments made in our Canadian clinics, executive health and longevity health portfolios, which have historically delivered excellent returns on capital invested (ROIC). Importantly, we also delivered $17M in IFRS net profit for the quarter demonstrating our ability to deliver on all key adjusted and non-adjusted metrics. Article content I'm also very pleased to commemorate that we delivered more than 1 million patient visits in Canada during the quarter for the first time ever reflecting 38% YoY growth; approximately a third of which came from organic growth. It's important to remember the significance of each of those visits and how vital it can be to a person's health and wellness. This awareness, along with our growing scale and relevance in the healthcare ecosystem, is top of mind for us. We think about it every day as we are committed to making the investments that are designed to help healthcare providers deliver the best care and patient outcomes possible. Article content One positive by-product of our investments is the growing productivity of our providers. The average provider at WELL grew its number of patient visits by 22%. While there are many contributors to this improvement, we believe improved tooling and technology to be one of those key reasons.' Article content Mr. Shahbazi further added, 'We are also very pleased to report our first quarter with the inclusion of HEALWELL AI, a company that we helped launch and incubate almost two years ago and in which we took a majority voting control position this past April. Yesterday HEALWELL reported record financial performance along with its first profitable quarter on an Adjusted EBITDA basis and signalled its intent to become a pure-play SaaS and Services company now that it has achieved significant scale in delivering data science and healthcare software expertise to large enterprise customers in 11 countries globally. In parallel, we continue to evaluate strategic alternatives for our U.S. assets to simplify our business and sharpen our focus on our core Canadian operations. Across the WELL ecosystem, our teams are focused on driving sustainable, profitable growth and delivering meaningful impact through technology, innovation, and operational excellence.' Article content Eva Fong, WELL's Chief Financial Officer, commented, 'Our second quarter results demonstrate the strength of our operating model and disciplined approach to capital allocation. Year to date, we have completed fourteen transactions and are pleased to report fifteen signed LOIs representing approximately $134 million in revenues. Our high-quality pipeline of acquisition opportunities mostly includes targets across Canadian Clinics and WELLSTAR. Also, notably our WELLSTAR platform delivered another strong 'Rule of 40' performance with strong organic revenue growth and healthy Adjusted EBITDA margins, while executing on its M&A pipeline. WELLSTAR's goal is to exceed $100 million in revenues next year with continued strong margins and growth metrics. Overall, we remain committed to improving margin profile and operating leverage across the organization, while evaluating strategic opportunities to streamline and optimize our portfolio. With a strong balance sheet and increasing cash generation, we are well-positioned to support long-term growth and return value to shareholders.' Article content WELL achieved record quarterly revenue of $356.7 million in Q2-2025, an increase of 57% compared to revenue of $227.3 million generated in Q2-2024. This growth was mainly driven by organic growth, acquisitions that have occurred over the last twelve months and the addition of $40.5 million of revenue in Q2-2025 from the inclusion of HEALWELL, as per IFRS reporting requirements following the company's execution of a call option to acquire voting shares of HEALWELL on April 1, 2025, relating to our majority voting position with HEALWELL. Excluding the impact of 'CM Deferrals', revenue would have reached $347.0 million, representing a 53% increase compared to the previous year. Adjusted Gross Profit (1) was $158.7 million in Q2-2025, an increase of 73% compared to Adjusted Gross Profit of $91.5 million in Q2-2024. Adjusted Gross Margin (1) percentage was 44.5% during Q2-2025 compared to Adjusted Gross Margin percentage of 40.3% in Q2-2024. The increase in Adjusted Gross Margin percentage was primarily driven by revenue mix and the addition of higher margin HEALWELL revenue, while being offset by the addition of lower margin Provider Staffing revenue from the acquisition of Harmony in January 2025. Adjusted EBITDA (1) was $49.7 million in Q2-2025, an increase of 231% compared to Adjusted EBITDA of $15.0 million in Q2-2024. Excluding the impact of CM Deferrals, Adjusted EBITDA would have reached $40.0 million, representing a 166% increase compared to the previous year. Adjusted EBITDA Attributable to WELL shareholders was $37.5 million in Q2-2025, an increase of 215% compared to Adjusted EBITDA Attributable to WELL shareholders of $11.9 million in Q2-2024. Adjusted Net Income (1) was $25.8 million, or $0.10 per share in Q2-2025, compared to Adjusted Net Income of $4.1 million, or $0.02 per share in Q2-2024. Free Cash Flow Available to Shareholders (or FCFA2S) was $11.7 million in Q2-2025 an increase of 34% compared to FCFA2S of $8.7 million in Q2-2024. Note that FCFA2S was impacted by elevated cash taxes and capital expenditures which were focused on investments in upgrading our clinical portfolio. : Article content Canadian Patient Services revenue was $114.5 million in Q2-2025, an increase of 49% compared to $76.7 million in Q2-2024. U.S. Patient Services revenue was $184.8 million in Q2-2025, an increase of 38% compared to $133.7 million in Q2-2024. WELLSTAR, the Company's pure-play SaaS technology subsidiary, achieved revenue of $15.2 million in Q2-2025, an increase of 49% compared to $10.2 million in Q2-2024. WELLSTAR's growth was driven by healthy organic growth and acquisitions. Article content Second Quarter 2025 Patient Visit Metrics: Article content WELL achieved a total of 1.7 million patient visits in Q2-2025, an increase of 21% compared to 1.4 million patient visits in Q2-2024. Canadian Patient Services visits increased 38% while US Patient Services visits decreased 1%, on a year-over-year basis. Notably, the Company achieved over 1 million patient visits across its Canadian operations, a new quarterly milestone. Growth in patient visits over the past year was primarily driven by acquisitions as well as double-digit organic growth, including the clinic absorption program. Article content In addition, WELL achieved over 2.7 million Care Interactions (2) in Q2-2025, representing approximately 10.8 million patient interactions on an annualized run-rate basis. Article content Second Quarter 2025 Business Highlights: Article content On April 1, 2025, the Company and the pre-HEALWELL founders amended the terms of the conditional call option held by the Company to acquire up to 30.8 million Class A Subordinate Voting Shares of HEALWELL at $0.125 per share and 30.8 million Class B Multiple Voting shares of HEALWELL at $0.0001 per share such that it became exercisable, and the Company exercised the call option to acquire such shares for total consideration of $3.9 million. On April 1, 2025, the release conditions were satisfied related to the Company's January 21, 2025, subscription for HEALWELL shares and the Company received 0.5 million Class A voting shares and 0.25 million share purchase warrants with each warrant exercisable into one Class A Subordinate Voting share at $2.50 per share for a period of 36 months in accordance with the terms of the subscription agreement. Article content As of April 1, 2025, the Company held 97.2 million Class A Subordinate Shares and 30.8 million Class B Multiple Voting shares of HEALWELL, representing approximately 37% of the economic interest and approximately 69% of the voting rights in HEALWELL on a non-diluted basis. As a result, the Company obtained control of HEALWELL under IFRS, and accordingly, began to consolidate the financial results of HEALWELL as a subsidiary of the Company effective April 1, 2025. Article content On May 6, 2025, the Company announced the rebranding of its cybersecurity division as CYBERWELL and the appointment of Jeffrey Engle as CEO. CYBERWELL consolidates four firms: Source44, SeekIntoo, Cycura, and Proack Security into a unified cybersecurity company. The division will focus on recurring revenue, acquisitions, and international expansion. WELL noted plans for CYBERWELL to potentially be spun out in the future and serve as a key growth engine. Article content On May 7, 2025, WELLSTAR announced the launch of Nexus AI, a new AI-powered clinical documentation solution available across Canada. The product is initially focused on AI scribing and will expand through partnerships across the WELL ecosystem. Nexus AI is supported by government funding for up to 10,000 providers through Canada Health Infoway's AI Scribe pilot program. Article content On May 28, 2025, the Company announced that subsidiaries of HEALWELL and WELLSTAR, Intrahealth, Pentavere, and OceanMD, were selected as recipients of Canada Health Infoway's 2025 Vendor Innovation Program. The program supports the development and implementation of real-world interoperability solutions aligned with national digital health priorities. The selected projects aim to enhance data quality, care coordination, and access to standardized health information across Canada, with deployments planned in five provinces. Three of the eight recipients are affiliated with the WELL and HEALWELL group. Article content On June 24, 2025, the Company announced the availability of over 45,000 new primary care patient openings across its clinic network in Ontario, Alberta, and Manitoba. The expansion is enabled by investments in physician recruitment, including the onboarding of internationally trained medical graduates, and the implementation of digital infrastructure powered by WELLSTAR Technologies. The Company's National Patient Registration system, supported by OceanMD's eForms, online booking, and automated triage tools, is streamlining access and enabling clinics to accelerate the creation of new patient panels. Article content Events Subsequent to June 30, 2025: Article content On July 8, 2025, the Company announced the completion of two clinic acquisitions in British Columbia, effective July 1, 2025. The acquired clinics include a personalized health clinic in Vancouver and a multidisciplinary clinic in Burnaby, expanding the Company's presence in preventative health and specialty care. Article content On July 8, 2025, the Company announced an expansion and extension of its senior secured credit facility, led by Royal Bank of Canada, increasing total capacity to approximately $200 million and extending the maturity to 2027. The revised facility converts the accordion feature into a revolving credit line, enhancing the Company's financial flexibility to support continued growth. Article content On July 15, 2025, the Company announced that its majority-owned subsidiary, WELLSTAR Technologies Corp., executed three letters of intent for acquisitions expected to contribute approximately $15 million in ARR, $16 million in annual revenue, and over $5 million in Adjusted EBITDA on a run-rate basis. The targets deliver high-margin SaaS solutions that expand WELLSTAR's clinician enablement platform and support its strategy of disciplined, accretive growth. Article content On July 16, 2025 HEALWELL acquired the remaining 49% of Pentavere Research Group Inc. ('Pentavere'), by exercising a call option that it had previously negotiated at the time of its original acquisition of a majority interest in Pentavere in 2023. Pursuant to the call option, HEALWELL acquired all of the remaining issued and outstanding shares of Pentavere for an aggregate purchase price of $13,978 which was satisfied with the issuance of 10,161,562 HEALWELL Class A Subordinate Voting Shares. With 100% ownership of Pentavere, HEALWELL intends to deepen integration between its AI businesses and accelerate commercialization of AI products across healthcare offerings. Article content Outlook: Article content WELL intends to continue its focus on maintaining strong performance, while strategically enhancing operations in the pursuit of organic growth and profitability. WELL is expecting its momentum to continue in the second half of the year across its key business units. WELL's objective is to invest in and achieve significant growth while effectively managing its costs and delivering cash flow to shareholders. Article content Management is pleased to reaffirm its 2025 annual guidance for revenue to be between $1.40 billion to $1.45 billion, representing 52% to 58% annual growth compared to 2024. Excluding the impact of the CM Deferrals, the Company's annual revenue guidance would be between $1.35 billion to $1.40 billion. This annual revenue guidance only includes announced acquisitions; however, WELL expects to be in the upper half of this guidance range with the inclusion of planned acquisitions in the second half of the year. Article content Furthermore, management is pleased to increase its guidance for annual Adjusted EBITDA to be in the upper half of its previously provided guidance of $190 million to $210 million. Excluding the impact of CM Deferrals, the Company is similarly improving its guidance for annual Adjusted EBITDA to be in the upper half of its previously provided guidance of $140 million to $160 million. This improvement of the Company's annual Adjusted EBITDA guidance only includes announced acquisitions. Article content WELL continues to allocate capital thoughtfully in order to activate both organic and inorganic growth. The Company expects to continue to fund its acquisitions from its own cash flow as well as planned divestitures ensuring compounding gains over time on a per share basis. The Company also continues to focus most of its M&A and capital allocation activity in Canada where it is experiencing its strongest returns. Article content Conference Call: Article content WELL will release its Second Quarter 2025 financial results for the period ended June 30, 2025, on Thursday, August 14, 2025. The Company will hold a conference call and simultaneous webcast to discuss its results on the same day at 1:00 pm ET (10:00 am PT). Article content Please use the following dial-in numbers: 1-800-717-1738 (Toll Free) or 1-289-514-5100 (International). Article content Please see SEDAR for complete copies of the Company's condensed interim consolidated financial statements and interim MD&A for the quarter ended June 30, 2025. Article content Quarter ended Six months ended June 30, 2025 March 31, 2025 June 30, 2024 Restated June 30, 2025 June 30, 2024 Restated $'000 $'000 $'000 $'000 $'000 Revenue 356,673 294,137 227,312 650,810 450,795 Cost of sales (excluding depreciation and amortization) (197,934) (176,665) (135,766) (374,599) (265,108) Adjusted Gross Profit (1) 158,739 117,472 91,546 276,211 185,687 Adjusted Gross Margin (1) 44.5% 39.9% 40.3% 42.4% 41.2% Adjusted EBITDA (1) 49,735 27,577 15,045 77,312 35,280 Net income (loss) 16,998 (41,886) 105,574 (24,888) 119,357 Adjusted Net Income (1) 25,771 7,508 4,080 33,279 21,287 Earnings (Loss) per share, basic (in $) 0.05 (0.19) 0.42 (0.14) 0.47 Earnings (Loss) per share, diluted (in $) 0.05 (0.19) 0.41 (0.14) 0.45 Adjusted Net Income per share, basic (in $) 0.10 0.03 0.02 0.13 0.09 Adjusted Net income per share, diluted (in $) 0.10 0.03 0.02 0.13 0.09 Reconciliation of net income (loss) to Adjusted EBITDA (1): Net income (loss) for the period 16,998 (41,886) 105,574 (24,888) 119,357 Depreciation and amortization 25,395 19,546 17,307 44,941 33,867 Income tax expense (recovery) 5,923 (1,229) (6,392) 4,694 (8,832) Interest income (463) (519) (279) (982) (517) Interest expense 12,909 11,406 9,689 24,315 19,230 Rent expense on finance leases (5,407) (4,688) (4,129) (10,095) (8,243) Share-based payments 5,815 2,465 4,765 8,280 10,242 Foreign exchange (gain) loss (1,032) 84 (72) (948) (104) Time-based earnout expense 5,137 215 15 5,352 2,127 Change in fair value of investments (12,751) 35,235 (116,327) 22,484 (130,284) Change in fair value of derivative liability (2,130) – – (2,130) – Gain on disposal of assets and investments – (24) – (24) (11,284) Share of net loss (income) of associates 117 2,380 (177) 2,497 887 Transaction, restructuring and integration costs expensed 2,797 3,870 2,609 6,667 6,091 Legal settlements and defense (recovery) costs (3,573) (31) 1,709 (3,604) 1,990 Other items – 753 753 753 753 Adjusted EBITDA (1) 49,735 27,577 15,045 77,312 35,280 Attributable to WELL shareholders 37,458 20,293 11,914 57,751 27,619 Attributable to Non-controlling interests 12,277 7,284 3,131 19,561 7,661 Adjusted EBITDA (1) WELL Corporate (8,544) (6,519) (5,320) (15,063) (10,087) Canada and others 25,151 18,671 13,032 43,822 27,506 US operations 33,128 15,425 7,333 48,553 17,861 Adjusted EBITDA (1) attributable to WELL shareholders WELL Corporate (8,544) (6,519) (5,320) (15,063) (10,087) Canada and others 22,777 17,209 12,645 39,986 26,892 US operations 23,225 9,603 4,589 32,828 10,814 Adjusted EBITDA (1) attributable to Non-controlling interests Canada and others 2,374 1,462 387 3,836 614 US operations 9,903 5,822 2,744 15,725 7,047 Reconciliation of net income (loss) to Adjusted Net Income (1): Net income (loss) for the period 16,998 (41,886) 105,574 (24,888) 119,357 Amortization of acquired intangible assets 17,432 13,034 11,361 30,466 22,881 Time-based earnout expense 5,137 215 15 5,352 2,127 Share-based payments 5,815 2,465 4,765 8,280 10,242 Change in fair value of investments (12,751) 35,235 (116,327) 22,484 (130,284) Change in fair value of derivative liability (2,130) – – (2,130) – Share of net loss (income) of associates 117 2,380 (177) 2,497 887 Other items – 753 753 753 753 Non-controlling interest included in net income (loss) (4,847) (4,688) (1,884) (9,535) (4,676) Adjusted Net Income (1) 25,771 7,508 4,080 33,279 21,287 Article content Footnotes: Article content Non-GAAP financial measures and ratios. In addition to results reported in accordance with IFRS, the Company uses certain non-GAAP financial measures as supplemental indicators of its financial and operating performance. These non-GAAP financial measures include Adjusted Net Income, Adjusted Net Income Per Share, Adjusted EBITDA, Adjusted Gross Profit, Adjusted Gross Margin, and Adjusted Free Cash Flow. The Company believes these supplementary financial measures reflect the Company's ongoing business in a manner that allows for meaningful period-to-period comparisons and analysis of trends in its business. Adjusted Net Income and Adjusted Net Income per Share The Company defines Adjusted Net Income as net income (loss), after excluding the effects of share-based payments, amortization of acquired intangible assets, time-based earnout expense, change in fair value of investments, change in fair value of derivative liability, non-controlling interests, and revenue precluded from recognition under IFRS 15 that relates to certain patient services revenue that the Company believes should be recognized as revenue based on its contractual relationships. Adjusted Net Income Per Share is Adjusted Net Income divided by weighted average number of shares outstanding. The Company believes that these non-GAAP financial measures provide useful information to analyze our results, enhance a reader's understanding of past financial performance and allow for greater understanding with respect to key metrics used by management in decision making. More specifically, the Company believes Adjusted Net Income is a financial metric that tracks the earning power of the business that is available to WELL shareholders. EBITDA and Adjusted EBITDA EBITDA and Adjusted EBITDA are non-GAAP measures. EBITDA represents net income (loss) before interest, taxes, depreciation, and amortization. The Company defines Adjusted EBITDA as EBITDA (i) less net rent expense on premise leases considered to be finance leases under IFRS and (ii) before transaction, restructuring, and integration costs, time-based earn-out expense, change in fair value of investments, change in fair value of derivative liability, share of loss of associates, foreign exchange gain/loss, and share-based payments, (iii) revenue precluded from recognition under IFRS 15 that relates to certain patient services revenue that the Company believes should be recognized as revenue based on its contractual relationships, and (iv) gains/losses that are not reflective of ongoing operating performance. The Company considers Adjusted EBITDA a financial metric that measures cash that the Company can use to fund working capital requirements, service future interest and principal debt repayments and fund future growth initiatives. EBITDA and Adjusted EBITDA should not be considered alternatives to net income (loss), cash flow from operating activities or other measures of financial performance in accordance with IFRS. Adjusted Gross Profit and Adjusted Gross Margin The Company defines Adjusted Gross Profit as revenue less cost of sales (excluding depreciation and amortization) and Adjusted Gross Margin as adjusted gross profit as a percentage of revenue. Adjusted gross profit and adjusted gross margin should not be construed as an alternative for revenue or net income (loss) determined in accordance with IFRS. The Company does not present gross profit in its consolidated financial statements as it is a non-GAAP financial measure. The Company believes that adjusted gross profit and adjusted gross margin are meaningful metrics that are often used by readers to measure the Company's efficiency of selling its products and services. Adjusted Free Cash Flow The Company defines Adjusted Free Cash Flow Attributable to Shareholders as Adjusted EBITDA Attributable to Shareholders, less cash interest, less cash taxes and less capital expenditures. Adjusted Net income, Adjusted Net Income per Share, Adjusted EBITDA, Adjusted Gross Profit, Adjusted Gross Margin, and Adjusted Free Cash Flow are not recognized measures for financial statement presentation under IFRS and do not have standardized meanings. As such, these measures may not be comparable to similar measures presented by other companies and should be considered as supplements to, and not as substitutes for, or superior to, the corresponding measures calculated in accordance with IFRS. Total Care Interactions are defined as Total Patient Visits plus Technology Interactions plus Billed Provider Hours. Article content Chief Executive Officer, Chairman and Director Article content Article content About WELL Health Technologies Corp. Article content WELL's mission is to tech-enable healthcare providers. We do this by developing the best technologies, services, and support available, which ensures healthcare providers are empowered to positively impact patient outcomes. WELL's comprehensive healthcare and digital platform includes extensive front and back-office management software applications that help physicians run and secure their practices. WELL's solutions enable more than 34,000 healthcare providers between the US and Canada and power the largest owned and operated healthcare ecosystem in Canada with more than 165 clinics supporting primary care, specialized care, and diagnostic services. In the United States WELL's solutions are focused on specialized markets such as the gastrointestinal market, women's health, primary care, and mental health. WELL is publicly traded on the Toronto Stock Exchange under the symbol 'WELL' and on the OTC Exchange under the symbol 'WHTCF'. To learn more about WELL, please visit: Article content Forward-Looking Statements Article content This news release may contain 'Forward-Looking Information' within the meaning of applicable Canadian securities laws, including, without limitation: information regarding the Company's goals, strategies and growth plans, including expected acquisitions and divestitures Company and HEALWELL; expectations regarding continued revenue and EBITDA growth; the Company's expectations pertaining to annual guidance for annual revenue and Adjusted EBITDA; the expected benefits and synergies of completed acquisitions; capital allocation plans in the form of more acquisitions or share repurchases; expected patient visits; and the expected financial performance as well as information in the 'Outlook' section herein. Forward-Looking Information are necessarily based upon a number of estimates and assumptions that, while considered reasonable by management, are inherently subject to significant business, economic and competitive uncertainties, and contingencies. Forward-Looking Information generally can be identified by the use of forward-looking words such as 'may', 'should', 'will', 'could', 'intend', 'estimate', 'plan', 'anticipate', 'expect', 'believe' or 'continue', or the negative thereof or similar variations. Forward-Looking Information involve known and unknown risks, uncertainties and other factors that may cause future results, performance, or achievements to be materially different from the estimated future results, performance or achievements expressed or implied by the Forward-Looking Information and the Forward-Looking Information are not guarantees of future performance. WELL's comments expressed or implied by such Forward-Looking Information are subject to a number of risks, uncertainties, and conditions, many of which are outside of WELL 's control, and undue reliance should not be placed on such information. Forward-Looking Information are qualified in their entirety by inherent risks and uncertainties, including: risks regarding the timing and amount of recognition or revenue and earnings; direct and indirect material adverse effects from adverse market conditions; risks inherent in the primary healthcare sector in general; regulatory and legislative changes; that future results may vary from historical results; inability to obtain any requisite future financing on suitable terms; any inability to realize the expected benefits and synergies of acquisitions; that market competition may affect the business, results and financial condition of WELL and other risk factors identified in documents filed by WELL under its profile at including its most recent Annual Information Form and its Management, Discussion and Analysis. Except as required by securities law, WELL does not assume any obligation to update or revise any forward-looking information, whether as a result of new information, events or otherwise. Article content This news release contains future-oriented financial information and financial outlook information (collectively, 'FOFI') about estimated annual run-rate revenue and Adjusted EBITDA, all of which are subject to the same assumptions, risk factors, limitations, and qualifications as set out in the above paragraph. The actual financial results of WELL may vary from the amounts set out herein and such variation may be material. WELL and its management believe that the FOFI has been prepared on a reasonable basis, reflecting management's best estimates and judgments. However, because this information is subjective and subject to numerous risks, it should not be relied on as necessarily indicative of future results. Except as required by applicable securities laws, WELL undertakes no obligation to update such FOFI. FOFI contained in this news release was made as of the date hereof and was provided for the purpose of providing further information about WELL's anticipated future business operations on an annual basis. Readers are cautioned that the FOFI contained in this news release should not be used for purposes other than for which it is disclosed herein. Article content Article content Article content Article content Article content Contacts Article content For further information: Article content Article content Tyler Baba Article content Article content Article content
