Jack Nathan Health Announces Its Q4 and Year End Fiscal 2025 Financial Results
Disclosure Regarding Filing Timing
As previously disclosed in a press release issued on June 9, 2025, the Company was unable to file its annual financial statements, MD&A, and related CEO and CFO certifications for the fiscal year ended January 31, 2025, by the prescribed filing deadline of May 31, 2025. The delay was due to operational restructuring, resource realignment, and transition impacts following the divestiture of its Canadian primary care operations and the winding down of Mexico operations. The Company is pleased to confirm that it has now completed the filings within the 90-day permitted period, and all required documents are available on SEDAR+.
Management Commentary
Mike Marchelletta, Chief Executive Officer, commented:
'Fiscal 2025 was a pivotal year of transition for Jack Nathan Health. We successfully completed the divestiture of our Canadian primary care and licensee business, which significantly improved our balance sheet and eliminated legacy obligations. Following year-end, we also ceased all clinic operations in Mexico after the termination of our agreement with Walmart Mexico. With both legacy business segments now exited, our current focus is on internal restructuring, stabilizing our operations, and preserving cash while evaluating future strategic opportunities. We believe these actions have positioned the Company for a more focused path forward.'
Financial Highlights for the fiscal year ended January 31, 2025
For the fiscal year ended January 31, 2025, total consolidated revenues were $19.1 million, consistent with the prior year. Revenues from continuing operations increased 26% to $8.7 million driven by the full-year contribution from MedSpa operations and the continued activity of the Mexico division through fiscal year-end. MedSpa revenues were $1.03 million, up 90% year-over-year. Discontinued operations contributed $10.4 million in revenue prior to the sale of the Canadian medical clinic and licensee business on December 1, 2024.
Note on Mexico Operations:
The 2025 financial statements reflect the Mexico clinic operations as part of continuing operations, as these locations were active through January 31, 2025. However, subsequent to year-end, all operations in Mexico were fully ceased as of June 30, 2025 following the formal termination of the Company's agreement with Walmart Mexico. As such, the Mexico division is no longer part of Jack Nathan Health's active business going forward.
The Company reported a loss from continuing operations of $2.5 million, compared to $1.3 million in the prior year. However, discontinued operations yielded a net gain of $9.99 million, largely driven by a $16.4 million gain on the sale of the Canadian operations.
Balance Sheet as of January 31, 2025
Cash of $2.2 million (January 31, 2024 - $3.06 million)
Total assets of $3.54 million (January 31, 2024 - $11.19 million)
Total liabilities of $2.22 million (January 31, 2024 - $17.13 million)
Working capital improved to $1.4 million, compared to a working capital deficit of $0.5 million the year prior.
Shares Outstanding
As of January 31, 2025, the Company had 87,099,159 common shares outstanding, 1,650,000 stock options outstanding and 335,004 DSUs outstanding.
For further information regarding the Company's financial results for fiscal year ended January 31, 2025, please refer to the audited annual consolidated financial statements of the Company as at and for the 12 months ended January 31, 2025 together with the corresponding MD&A, available at www.sedarplus.ca and the JNH website https//investor.jnhmexico.com
About Jack Nathan Medical Corp.
Jack Nathan Health® is a provider of MedSpa services in Canada and a former operator of one of the largest retail medical clinic networks in North America. Established in 2006 the Company expanded its international footprint, delivering exceptional, state-of-the-art, turn-key medical centers in 253 locations globally, with 193 corporately owned and operated. In Canada, the Company grew to 82 locations, including 80 clinics in Walmart locations in British Columbia, Alberta, Saskatchewan, Manitoba, Ontario, and Quebec and 2 independent locations, with 22 corporate owned and operated clinics of which 3 included Rehab services and 6 included MedSpa services. In Mexico, the Company grew to 171 corporate owned clinics across Mexico within 3 divisions, including 165 retail clinics, 5 clinics inside Walmart Distribution Centers servicing Walmart Associates, and 1 multidisciplinary clinic. In December 2024, Jack Nathan Health restructured its Canadian medical operations through an asset sale to Well Health Technologies Corp. Following the exit from its Walmart Mexico operations in May 2025, the Company continues to operate its Canadian MedSpa clinics and is actively evaluating strategic opportunities for its future business in Canada, Mexico & USA.
For more information, visit https//investor.jnhmexico.com or www.sedarplus.ca.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Appendix:
Certain statements contained in this press release constitute "forward-looking information" as such term is defined in applicable Canadian securities legislation. The words "may", "would", "could", "should", "potential", "will", "seek", "intend", "plan", "anticipate", "believe", "estimate", "expect" and similar expressions as they relate to Jack Nathan are intended to identify forward- looking information. All statements other than statements of historical fact may be forward- looking information. Such statements reflect the Company's current views and intentions with respect to future events, and current information available to them, and are subject to certain risks, uncertainties, and assumptions Many factors could cause the actual results, performance or achievements that may be expressed or implied by such forward-looking information to vary from those described herein should one or more of these risks or uncertainties materialize. Such factors include but are not limited to: changes in economic conditions or financial markets; increases in costs; litigation; legislative and other judicial, regulatory, political, and competitive developments; and operational difficulties. This list is not exhaustive of the factors that may affect forward-looking information. These and other factors should be considered carefully, and readers should not place undue reliance on such forward- looking information. Should any factor affect the Company in an unexpected manner, or should assumptions underlying the forward-looking information prove incorrect, the actual results or events may differ materially from the results or events predicted. Any such forward-looking information is expressly qualified in its entirety by this cautionary statement. Moreover, the Company does not assume responsibility for the accuracy or completeness of such forward- looking information. The forward-looking information included in this press release is made as of the date of this press release and the Company undertakes no obligation to publicly update or revise any forward- looking information, other than as required by applicable law.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
32 minutes ago
- Yahoo
VIA Rail plans to use refurbished cars to improve service between Halifax-Montreal
HALIFAX — The CEO of Via Rail says the Crown corporation wants to use refurbished rail cars to improve service between Halifax and Montreal. Mario Péloquin made the comments after a ceremony marking the completion of renovations to Via's Halifax station. Péloquin also noted that last year was the 120th anniversary of The Ocean — the train from Montreal to Halifax inaugurated in July 1904. The CEO says the federal government has committed to renewing the corporation's entire Canadian fleet within ten years. And in the interim, Péloquin says there are plans to refurbish stainless steel cars that are being retired in Central Canada for use in the Atlantic region. But Péloquin says he doesn't know yet whether the refurbished cars will be enough to restore daily service to the Halifax-Montreal line, which currently runs three times a week. This report by The Canadian Press was first published July 15, 2025. The Canadian Press Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
an hour ago
- Yahoo
Caspian One Open Data and First West partner to roll out the Interac® verification service
LANGLEY, B.C., July 15, 2025 (GLOBE NEWSWIRE) -- First West Credit Union, in partnership with technology provider Caspian One Open Data, is proud to announce the launch of the Interac verification service, a secure and scalable digital identity verification solution. This collaboration marks a significant step in advancing trusted digital services for credit union members across Canada. Through this partnership, First West becomes one of the first credit unions to implement the Interac verification service, allowing members to verify their identity using their existing online banking credentials. This simplifies onboarding processes, enhances security, and improves the overall digital experience for members. This implementation is also the first of what is anticipated to be multiple innovative digital use cases, including future capabilities like cash flow optimization for our SME clients and streamlined automated account opening. At the heart of this initiative is Caspian's open data platform, which acts as a conduit between financial institutions and third-party service providers. By leveraging this infrastructure, First West can securely and rapidly connect with multiple fintech partners without the need for custom integrations—reducing implementation timelines from months to weeks or even days. 'At First West, we're always looking for ways to make our members' lives easier and more secure,' said Darrell Jaggers, Chief Transformation Officer at First West Credit Union. 'This step forward with open data made possible through our partnership with Caspian is more than a technology upgrade—it's about building trust, simplifying everyday moments, and making sure our members feel confident and cared for in their digital interactions. We're proud to be leading the way in bringing this kind of innovation to the credit union space.' This initiative is part of a broader collaboration involving Credit Union Central of Canada (CUCC) and a growing network of credit unions committed to leveraging open data to enhance the member experience. Alongside First West, early adopters of Caspian's infrastructure include Prospera Credit Union, Libro Credit Union, Uni Financial, Affinity Credit Union, and Meridian Credit Union. These institutions are working together to demonstrate the power of cooperative innovation in the financial services sector. The partnership builds on a foundational agreement announced in 2024, when the Large Credit Union Coalition (LCUC) selected Caspian as its preferred partner to deliver the Credit Union System Open Data Solution. This solution is tailored for Canada and enables secure data sharing through APIs—technology that lets different systems exchange information safely. It also includes tools to manage member consent and shared services, helping credit unions innovate while keeping member data protected. 'This collaborative launch with First West and other Canadian credit unions is a monumental milestone, unequivocally proving that Open Data is not a concept for tomorrow; it is live and ready for adoption today,' says Lewis Poe, CEO of Caspian One Open Data. 'This means cutting-edge financial accessibility for every Canadian, from a pensioner in Yellowknife to a new arrival from Mumbai. We encourage credit unions across the country to join First West and leverage this immediate opportunity to collectively shape Canada's financial future.'This initiative also aligns with broader industry goals to eliminate problematic practices like screen scraping and to prepare for the eventual rollout of open banking in Canada. By adopting open data standards today, credit unions can future-proof their digital infrastructure and deliver more value to their members. As the financial services landscape evolves, First West, Caspian, CUCC, and their credit union partners invite others in the ecosystem to join this growing movement—working together to build a more connected, secure, and member-centric future. For fintechs and credit unions interested in partnering, contact: info@ About First West Credit Union First West Credit Union brings together the best of both worlds, combining the scale, stability and solutions of a leading Canadian financial institution with the care and community leadership of a local cooperative. Powered by the leadership of Launi Skinner, First West is Canada's premier multi-brand credit union, serving 283,000 members through four admired community brands: Envision Financial, Valley First, Island Savings, and Enderby & District Financial. With approximately $20 billion in total assets and assets under administration, First West makes it easy for its members to get impactful, practical advice and personalized service that's truly in their best interests, through 45 branches across B.C., a Member Advice Centre and leading digital tools. Since 2010, First West has given back more than $41 million to its communities, while cultivating a culture with its 1,250 team members that is recognized nationally with Canada's Most Admired Cultures Award, BC's Top Employers Award, 5-Star Psychological Safety Award, and the Canadian Workplace Wellbeing Award. Learn more at and see how we're redefining banking to create a future where everyone can flourish. About Caspian One Open DataCaspian One Open Data is a secure and innovative open data platform that empowers financial institutions to participate in the open banking revolution. We offer a unique point-to-point data access solution strategically aligned with the upcoming Canadian regulations. By partnering with Caspian One, our clients and partners can leverage our secure fintech ecosystem to unlock new financial products, foster innovation and achieve regulatory compliance. For more information, visit CONTACT: Josh Juhlke First West Credit Union jjuhlke@ Paul Brandner Caspian One Open Data in to access your portfolio
Business Wire
an hour ago
- Business Wire
KBRA Assigns Preliminary Ratings to American Credit Acceptance Receivables Trust 2025-3
NEW YORK--(BUSINESS WIRE)--KBRA assigns preliminary ratings to five classes of notes issued by American Credit Acceptance Receivables Trust 2025-3 ('ACAR 2025-3'), an ABS collateralized by a pool of auto loans. ACAR 2025-3 will issue five classes of notes totaling $519.0 million. The ratings reflect initial credit enhancement of 61.10% for the Class A notes through 14.50% for the Class E notes. Credit enhancement will consist of overcollateralization, subordination of the junior note classes (except for the Class E note), a cash reserve account, and excess spread. This transaction represents the third ABS securitization in 2025 for American Credit Acceptance, LLC ('ACA' or the 'Company'). The Company has issued 51 securitizations since 2011 for a total amount of approximately $16.0 billion. ACA is a privately held subprime auto finance company that has been under current ownership since 2007. The Company is an independent auto loan originator operating in all 50 states. As of May 31, 2025, ACA has a managed serviced portfolio of approximately $6.2 billion, inclusive of certain portfolio purchases of ACA. Based on financials provided by the Company, ACA has been profitable since 2009. To access ratings and relevant documents, click here. Click here to view the report. Methodologies Disclosures Further information on key credit considerations, sensitivity analyses that consider what factors can affect these credit ratings and how they could lead to an upgrade or a downgrade, and ESG factors (where they are a key driver behind the change to the credit rating or rating outlook) can be found in the full rating report referenced above. A description of all substantially material sources that were used to prepare the credit rating and information on the methodology(ies) (inclusive of any material models and sensitivity analyses of the relevant key rating assumptions, as applicable) used in determining the credit rating is available in the Information Disclosure Form(s) located here. Information on the meaning of each rating category can be located here. Further disclosures relating to this rating action are available in the Information Disclosure Form(s) referenced above. Additional information regarding KBRA policies, methodologies, rating scales and disclosures are available at About KBRA Kroll Bond Rating Agency, LLC (KBRA), one of the major credit rating agencies (CRA), is a full-service CRA registered with the U.S. Securities and Exchange Commission as an NRSRO. Kroll Bond Rating Agency Europe Limited is registered as a CRA with the European Securities and Markets Authority. Kroll Bond Rating Agency UK Limited is registered as a CRA with the UK Financial Conduct Authority. In addition, KBRA is designated as a Designated Rating Organization (DRO) by the Ontario Securities Commission for issuers of asset-backed securities to file a short form prospectus or shelf prospectus. KBRA is also recognized as a Qualified Rating Agency by Taiwan's Financial Supervisory Commission and is recognized by the National Association of Insurance Commissioners as a Credit Rating Provider (CRP) in the U.S. Doc ID: 1010378
