TRUBAR INC. ANNOUNCES FIRST QUARTER 2025 RESULTS, AND PROVIDES FISCAL YEAR 2025 OUTLOOK
During the quarter TRUBAR announced strategic launches with leading retailers including Costco Canada and Sam's Club. Subsequent to March 31, 2025, the Company announced a nationwide rollout into Target stores and launched into Costco Warehouse locations in Mexico.
TRUBAR management expects to deliver Net Revenue of $65 to $70 million for fiscal 2025.
VANCOUVER, BC, May 28, 2025 /CNW/ - TRUBAR Inc. (formerly, Simply Better Brands Corp.) (" TRUBAR" or the " Company") (TSXV: TRBR) (OTCQX: TRBRF), a better-for-you snacking company focused on delivering high-quality, plant-based protein products with exceptional taste and made with clean, recognizable ingredients, today announced its interim financial results for the three months ended March 31, 2025. All amounts are expressed in United States dollars unless otherwise noted. Certain metrics, including those expressed on an adjusted basis, such as "Gross Revenue", "Gross Profit", "Gross Margin Percentage", "EBITDA" and "Adjusted EBITDA", are non-International Financial Reporting Standards ("IFRS") measures, see "Non-IFRS Measures" below.
Selected financial and operating information are outlined below and should be read with the Company's interim consolidated financial statements and related management's discussion and analysis ("MD&A") for the three months ended March 31, 2025, which are available under the Company's profile on SEDAR+ at www.sedarplus.com.
MANAGEMENT COMMENTARY
Erica Groussman, Chief Executive Officer, TRUBAR, commented: "We are very pleased with our strong first quarter results which reflect a continuation of the progress we made throughout 2024 expanding our distribution footprint to more than 15,000 retailers across North America and driving substantial growth in the direct-to-consumer ecommerce channel. The successful execution of our strategy helped us deliver sales growth of 498% in Q1 2025 vs Q1 2024, excluding sales in the wholesale club channel."
Groussman added: "We continue to expand the distribution footprint for TRUBAR™ with the addition of key strategic retail partnerships, and we remain on track to grow to 25,000 retail locations by year-end. We are also seeing continued strong growth and momentum in the ecommerce channel building on our recent success increasing TRUBAR™'s online availability and consumer reach. We have made meaningful progress in our supply chain strategy and execution, ensuring we maintain inventory levels to meet the growing demand for TRUBAR™. In addition, we are leveraging our increasing volumes to secure supplier agreements and partnerships that will help us enhance our margins going forward. I am also very pleased with the world class team of seasoned CPG leaders we have assembled to drive our strategy at this critical point in the growth trajectory of TRUBAR™."
Kingsley Ward, Executive Chairman, commented: "We're proud to now be operating as TRUBAR Inc., a rebrand that strategically aligns our corporate identity with our highest-performing brand and positions us for sustained growth and long-term value creation. Our focus remains on enhancing the Company's financial position through strategic initiatives designed to support sustainable growth while ensuring strong operational and working capital efficiency. With higher revenues anticipated next quarter, we are well-positioned to continue executing on our growth strategy while maintaining prudent financial discipline."
TRUBAR management expects to deliver Net Revenue between $65 million and $70 million in fiscal 2025.
FINANCIAL HIGHLIGHTS FOR THE THREE MONTH PERIOD ENDED MARCH 31, 2025
Financial highlights for TRUBAR Inc. continuing operations during the three months ended March 31, 2025, included:
Net Revenue was $10.2 million for the three months ended March 31, 2025, representing a decrease of 26% compared to Net Revenue of $13.7 million during the three months ended March 31, 2024. The decrease reflects the timing of marketing activities, with the Costco MVM campaign occurring in Q1 of 2024 versus Q2 this year. Outside of the MVM period, TRUBAR™ maintained strong growth in the protein bar segment, reinforcing its market position and the effectiveness of the Company's expansion strategy.
Gross Revenue was $13.9 million for the three months ended March 31, 2025, a decrease of 16% compared to $16.6 million for the comparable period in 2024.
Revenue derived from TRUBAR TM sales was $9.9 million for the three months ended March 31, 2025, representing a decrease of $3.1 million or 24% as compared to $13.0 million for the three months ended March 31, 2024. The decline in revenue was due to the above-mentioned timing of promotional activities.
Direct-to-consumer/Ecommerce (DTC) net revenue for the three months ended March 31, 2025, was $2.9 million, an increase of 593% compared to $430,000 for the three months ended March 31, 2024, and represented 30% of total TRUBAR TM net revenue.
Gross Profit 1 was $3.2 million for the three months ended March 31, 2025, a decrease of 16% as compared to Gross Profit of $3.8 million for the three months ended March 31, 2024. Gross Margin Percentage 1 was 31% for the three months ended March 31, 2025, compared to Gross Margin Percentage of 28% for the comparable period in 2024.
Operating costs were $4.9 million for the three months ended March 31, 2025, an increase of $1.5 million (or 47%), compared to $3.4 million for the three months ended March 31, 2024. This increase reflects the Company's strategic investments and operational growth initiatives.
TRUBAR Inc. generated an Adjusted EBITDA 2 loss of $1.5 million from continuing operations for the three months ending March 31, 2025, a $2.2 million decrease compared to the Adjusted EBITDA of $0.7 million in Q1 2024. This was primarily due to the timing of the above-mentioned promotional activity in the club channel.
TRUBAR Inc. recorded a net loss from continuing operations of $1.2 million during the three months ended March 31, 2025, compared to a net loss of $0.2 million for the three months ended March 31, 2024.
FIRST QUARTER 2025 BUSINESS and OPERATIONAL HIGHLIGHTS
Significant business and operational highlights for the Company during the three months ended March 31, 2025, included:
Sam's Club Expansion: On January 15, 2025, the Company announced the nationwide rollout of TRUBAR™ in select Sam's Club warehouse locations across the U.S. This launch builds on the brand's successful online presence at SamsClub.com and further strengthens its North American distribution footprint with key retail partners.
Gopuff E-Commerce Expansion: On January 21, 2025, the Company announced the launch of TRUBAR™ on Gopuff, the leading instant commerce platform with a presence in major U.S. markets. This partnership enhances TRUBAR™'s reach through Gopuff's micro-fulfillment centers and omnichannel retail locations across the U.S.
GoMart Convenience Channel Expansion: On February 6, 2025, the Company announced the launch of TRUBAR™ in GoMart, a regional convenience store chain with a major presence in West Virginia and additional locations in Ohio and Virginia. TRUBAR™ is now available in 124 GoMart stores.
TRUBAR™ Canada Expansion: On February 24, 2025, the Company announced the launch of TRUBAR™ in Costco Canada's West Region, marking a major milestone in the brand's expansion across Canada and strengthening its strategic partnership with Costco. Additionally, SBBC has expanded TRUBAR™'s retail footprint with the addition of Nature's Emporium, an Ontario-based health food market with six locations, and Freson Bros., an Alberta-based grocery chain with 16 locations.
Direct to Consumer Growth Update: On March 4, 2025, the Company announced preliminary unaudited results of its estimated growth in direct-to-consumer ("DTC") sales for 2024. TRUBAR™ demonstrated exceptional growth throughout 2024, with total DTC sales increasing by 365% from Q1 to Q4-2024. This growth is reflected in quarterly DTC sales of $395K in Q1, $916K in Q2, $1.48 million in Q3, and $1.84 million in Q4.
SIGNIFICANT EVENTS SUBSEQUENT TO MARCH 31, 2025
Significant business and operational highlights for the Company subsequent to March 31, 2025, the Company:
Target Expansion: On April 14, 2025, the Company announced the launch of TRUBAR TM in select Target locations, marking further progress in expanding the brand's North American distribution footprint with key national retail partners.
Costco National MVM Promotion: On May 12, 2025, the Company announced TRUBAR TM will be featured in National MVM Promotion at Costco U.S. The MVM serves as one of Costco's flagship promotional tools, driving visibility and encouraging trial through exclusive savings offered to an engaged customer base.
Name Change to TRUBAR Inc.: On May 21, 2025, the Company announced it has officially changed its name from Simply Better Brands Corp. to TRUBAR Inc., aligning its corporate identity with its flagship brand. As part of the transition, Kingsley Ward has been appointed Executive Chairman to lead capital markets strategy, while Erica Groussman, co-founder of TRUBAR™, has assumed the role of Chief Executive Officer to lead brand operations and growth.
UPDATE ON LIQUIDITY AND CAPITAL RESOURCES
The Company's primary liquidity and capital requirements are for inventory and general corporate working capital purposes. The Company had a cash balance of $1.65 million as of March 31, 2025, which will provide capital to support the planned growth of the business and for general corporate working capital purposes. The Company's Adjusted working capital increased to $5.3 million as of March 31, 2025, from $4.1 million as of March 31, 2024 ($1.2 million improvement). This excludes warrant liabilities as they are settled through the issuance of Common shares.
Significant liquidity and capital-related updates included:
Line of Credit Facility – On November 8, 2024, the Company, through its subsidiary, Tru Brands Snack, entered into a credit agreement referred to as the "TBS Overdraft Facility" with a banking institution. This facility provides the Company with overdraft protection of $10.0 million for operational purposes and is repayable on demand. The balance on March 31, 2025, was $2.23 million.
Promissory Notes – During the current reporting period, the Company repaid loan principal of $0.98 million. The remaining principal balance on March 31, 2025 is $2.5 million.
$10 million Credit Facility – On April 22, 2025, the Company entered into a credit facility agreement with a related party, to provide up to $10 million to support the TRUBAR sales expansion in 2025.
The Company's ability to fund operating expenses will depend on its future operating performance which will be affected by general economic, financial, regulatory, and other factors including factors beyond the Company's control (See "Risk and Uncertainties" in the MD&A).
Management continually assesses liquidity in terms of the ability to generate sufficient cash flow to fund the business. Net cash flow is affected by the following items: (i) operating activities, including the level of accounts receivable, other receivable, accounts payable, accrued liabilities and unearned revenue and deposits; (ii) investing activities (iii) financing activities.
WEBCAST and CONFERENCE CALL DETAILS:
TRUBAR INC. will be holding a conference call and simultaneous webcast to discuss its financial results on Thursday, May 29, 2025, at 10:00 am ET (7:00 am PT). The call will be hosted by Kingsley Ward, Executive Chairman, and Erica Groussman, Chief Executive Officer & President. Please dial-in 10 minutes prior to the start of the call.
Date: Thursday, May 29, 2025
Time: 10:00 am EST (7:00 am PST)
For attendees who wish to join by webcast, the event can be accessed at:
https://bit.ly/SBBC-Q1-25-Investor-Webinar
Dial-in by phone
+1 778 907 2071 (Vancouver Local)
+1 647 558 0588 (Toronto Local)
Click here to find local numbers
Meeting ID: 868 4843 4713
Footnotes:
1. Non-IFRS financial measures – Gross Profit, Gross Margin Percentage, Gross Revenue
In addition to results reported in accordance with IFRS, the Company uses certain non-IFRS financial measures as supplemental indicators of its financial and operating performance. These non-IFRS financial measures include Gross Revenue, Gross Profit, and Gross Margin Percentage. 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.
Gross Profit and Gross Margin Percentage
The Company defines Gross Profit as revenue less cost of sales and Gross Margin Percentage as Gross Profit as a percentage of revenue. Gross Profit and Gross Margin Percentage should not be construed as an alternative for revenue or net income (loss) determined in accordance with IFRS. The Company believes that Gross Profit and Gross Margin Percentage are meaningful metrics that are often used by readers to measure the Company's efficiency of selling its products and services.
Gross Revenue
The Company defines Gross Revenue as Net Revenue adjusted for vendor discounts. The Company, through its subsidiary, Tru Brands, engaged in a marketing program with one of its vendors. Discounts and specific promotional expenditures related to this program were recognized as a reduction of revenue in accordance with IFRS 15, 'Revenue from Contracts with Customers'.
The following table presents the Gross revenue and Net revenue for the three months ended March 31, 2025, and 2024, and a reconciliation of same to Gross Profit (loss).
2. Non-IFRS Measures - EBITDA and Adjusted EBITDA
EBITDA and Adjusted EBITDA are non-IFRS measures used by management that are not defined by IFRS. EBITDA and Adjusted EBITDA do not have a standardized meaning prescribed by IFRS and therefore may not be comparable to similar measures presented by other issuers. Management believes that EBITDA and Adjusted EBITDA provide meaningful and useful financial information as these measures demonstrate the operating performance of the business excluding non-cash charges.
Readers are cautioned that EBITDA and Adjusted EBITDA should not be construed as an alternative to net income as determined under IFRS; nor as an indicator of financial performance as determined by IFRS; nor a calculation of cash flow from operating activities as determined under IFRS; nor as a measure of liquidity and cash flow under IFRS. The Company's method of calculating EBITDA and Adjusted EBITDA may differ from methods used by other companies and, accordingly, the Company's EBITDA and Adjusted EBITDA may not be comparable to similar measures used by any other company. Except as otherwise indicated, EBITDA and Adjusted EBITDA are calculated and disclosed by SBBC on a consistent basis from period to period. Specific adjusting items may only be relevant in certain periods. The most directly comparable measure to EBITDA and Adjusted EBITDA calculated in accordance with IFRS is net loss.
"EBITDA" is calculated as earnings before interest, taxes, depreciation, depletion, and amortization. "Adjusted EBITDA" is calculated as EBITDA adjusted for non-cash, extraordinary, non-recurring, and other items unrelated to the Company's core operating activities.
See also Earnings before Interest, Taxes, Depreciation, and Amortization ("EBITDA") and Adjusted EBITDA (Non-GAAP Measures) in the Company's management discussion and analysis for the three months ended March 31, 2025, available on SEDAR+ at www.sedarplus.com.
The following table presents the EBITDA and Adjusted EBITDA for the three months ended March 31, 2025, and 2024, and a reconciliation of same to net income (loss).
About TRUBAR Inc.
TRUBAR Inc. is a better-for-you snacking company focused on delivering high-quality, plant-based protein products with exceptional taste and made with clean, recognizable ingredients. TRUBAR™, the Company's signature product line, is distributed through national retailers, club stores, and e-commerce platforms across North America. The Company is focused on expanding TRUBAR™'s presence throughout North America and select international markets. For more information, visit: https://www.trubarinc.com/
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
Certain statements contained in this news release constitute "forward-looking information" and "forward looking statements" as such terms are used in applicable Canadian securities laws. Forward-looking statements and information are based on plans, expectations and estimates of management at the date the information is provided and are subject to certain factors and assumptions, including, among others, that the Company's financial condition and development plans do not change as a result of unforeseen events, the tariff and regulatory climate in which the Company operates, the Company will receive necessary approvals (including the acceptance of the TSX Venture Exchange) for the Promissory Note and the proposed name change, and the Company's ability to execute on its business plans. Specifically, this news release contains forward-looking statements relating to, but not limited to: management's current expectations regarding the ability of the Company to drive growth and deliver value to shareholders in fiscal 2025, management's expectations regarding the strategic focus of the Company in 2025, plans to issue the Promissory Note, expansion plans for TRU Brands products, plans to change the Company's corporate name, and the success of the Company's marketing efforts.
Forward-looking statements and information are subject to a variety of risks and uncertainties and other factors that could cause plans, estimates and actual results to vary materially from those projected in such forward-looking statements and information. Factors that could cause the forward-looking statements and information in this news release to change or to be inaccurate include, but are not limited to, the risk that any of the assumptions referred to above prove not to be valid or reliable, that occurrences such as those referred to above are realized and result in delays, or cessation in planned work, that the Company's financial condition and development plans change, ability to obtain necessary regulatory approvals for proposed transactions, as well as the other risks and uncertainties applicable to the plant-based food, clean ingredient skincare and plant-based wellness or broader wellness industries and to the Company, and as set forth in the Company's management's discussion and analysis available under the Company's SEDAR+ profile at www.sedarplus.com.
The above summary of assumptions and risks related to forward-looking statements in this news release has been provided to provide shareholders and potential investors with a more complete perspective on the Company's current and future operations and such information may not be appropriate for other purposes. There is no representation by the Company that actual results achieved will be the same in whole or in part as those referenced in the forward-looking statements and the Company does not undertake any obligation to update publicly or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by applicable securities law.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Cision Canada
2 days ago
- Cision Canada
ZYUS Life Sciences Announces Closing of Second Tranche of Unit Offering
SASKATOON, SK, Aug. 15, 2025 /CNW/ - ZYUS Life Sciences Corporation (the " Company") (TSXV: ZYUS), a Canadian-based life sciences company focused on the development and commercialization of novel cannabinoid-based pharmaceutical drug candidates for pain management, is pleased to announce that, further to its press release dated July 29, 2025, it has closed the second tranche (the " Second Tranche") of its non-brokered private placement (the " Offering") of units of the Company (each a " Unit") for up to CAD $1,000,000. Under the Second Tranche of the Offering, a further 140,845 Units were issued for aggregate gross proceeds of CAD $100,000. The aggregate gross proceeds raised in the Second Tranche and first tranche of the Offering (which closed on July 29, 2025) (the " First Tranche") is approximately $0.42 million. The Company has issued a total of 591,126 Units each priced at $0.71 per Unit in the First Tranche and the Second Tranche. Each Unit consists of one common share of the Company (a " Common Share") and one Common Share purchase warrant (each Common Share purchase warrant, a " Warrant"), whereby each Warrant entitles the holder to acquire one Common Share at a price of $0.95 for a period of twenty-four months from the date of issuance, unless the term of the Warrant is accelerated pursuant to its terms (the " Acceleration Provision"). In accordance with the Acceleration Provision, if the volume-weighted average trading price of the Common Shares is greater than $3.00 for a period of 5 consecutive trading days on the TSX Venture Exchange (the " TSXV"), the Company will have the right to accelerate the expiry date of the Warrants. Proceeds of the Offering will be used for general corporate and working capital purposes. No finder's fees were paid in connection with the Offering. The Units were offered by way of private placement pursuant to exemptions from prospectus requirements under applicable securities laws. All securities issued under the First Tranche are subject to a hold period expiring November 30, 2025, and all securities issued under the Second Tranche of the Offering are subject to a hold period expiring December 16, 2025, in accordance with applicable securities laws and the policies of the TSXV. The Offering has received conditional approval from the TSXV and remains subject to final acceptance of the TSXV. The securities described herein have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the " U.S. Securities Act"), or any state securities laws, and may not be offered or sold within the United States or to, or for account or benefit of, U.S. persons except in compliance with the registration requirements of the U.S. Securities Act and applicable state securities laws or pursuant to available exemptions therefrom. This release does not constitute an offer to sell or a solicitation of an offer to buy of any securities in the United States. About ZYUS Life Sciences Corporation ZYUS (TSXV: ZYUS) is a life sciences company focused on the development and commercialization of novel cannabinoid-based pharmaceutical drug candidates for pain management. Through rigorous scientific exploration and clinical research, ZYUS aims to secure intellectual property protection, safeguarding its innovative therapies and bolstering shareholder value. ZYUS' unwavering commitment extends to obtaining regulatory approval of non-opioid-based pharmaceutical solutions, in pursuit of transformational impact on patients' lives. For additional information, visit or follow us on X @ZYUSCorp. Cautionary Note Regarding Forward-Looking Statements This news release contains "forward-looking information" within the meaning of applicable securities laws relating to the Company's business, the Company's ability to advance clinical research activities, obtain regulatory approval of cannabinoid-based pharmaceutical drug candidates and introduce products that act as alternatives to current pain management therapies such as opioids, receipt of TSXV final acceptance, closing of any additional tranche of the Offering and use of proceeds from the Offering. Any such forward-looking statements may be identified by words such as "expects", "anticipates", "intends", "contemplates", "believes", "projects", "plans", "will" and similar expressions. Readers are cautioned not to place undue reliance on forward-looking statements. Statements about, among other things, the Company's business, the Company's ability to advance clinical research activities, obtain regulatory approval of cannabinoid-based pharmaceutical drug candidates and introduce products that act as alternatives to current pain management therapies such as opioids, obtain TSXV final acceptance, closing of any additional tranche of the Offering and use of proceeds from the Offering are all forward-looking information. These statements should not be read as guarantees of future performance or results. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from those implied by such statements. Although such statements are based on management's reasonable assumptions, there can be no assurance that the Company will be able to achieve these results. The Company assumes no responsibility to update or revise forward-looking information to reflect new events or circumstances or actual results unless required by applicable law. Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this press release.
Cision Canada
2 days ago
- Cision Canada
FuelPositive issues clarification regarding a statement made in its August 13, 2025 Press Release
WINNIPEG, MB, Aug. 15, 2025 /CNW/ - FuelPositive Corporation (the "Company") (TSXV: NHHH) (OTCQB: NHHHF) wishes to clarify a statement made in its August 13, 2025 Press Release. The Company reported: "…The first FP300 system has been delivered, completed its final certification, and is ready for activation. This milestone will trigger the demonstration phase and accelerate the ramp-up to manufacturing the larger FP1500 system, built to serve farms of approximately 10,000 acres…" The correct wording of this section of the Press Release should have read: "…The first FP300 system has been delivered and is prepared for the completion of its final certification and activation. This milestone will trigger the demonstration phase and accelerate the ramp-up to manufacturing the larger FP1500 system, built to serve farms of approximately 10,000 acres…" The Company apologizes for any confusion this may have caused. About FuelPositive: Building the Future of Farming Now FuelPositive is a Canadian clean-tech company transforming agriculture through decentralized, on-farm Green Ammonia production systems. By enabling farmers to generate their own green nitrogen fertilizer and carbon-free fuel on site, the Company is redefining the ammonia industry and putting control directly into the hands of those who feed the world. This model reduces reliance on volatile supply chains and unpredictable pricing, helping farmers secure their livelihoods and plan for the future. Each tonne of ammonia produced by a FuelPositive system prevents up to two tonnes of CO₂e emissions, offering both environmental and economic advantages. Designed for simplicity, dependability, and remote monitoring, the Company's containerized systems effortlessly integrate into farm operations. Made in Canada for Canadian conditions, they are engineered to be as straightforward to operate as they are impactful. The first FP300 demonstration system, installed on an 11,000-acre grain farm in Sperling, Manitoba, is designed to produce 100 metric tonnes of Green Ammonia each year. This unit serves as the foundation for the FP1500 commercial system, which can generate 500 metric tonnes annually for farms of approximately 10,000 acres. The systems are powered by sustainable electricity and produce carbon-free ammonia on demand, providing a decentralized, cost-effective alternative to fossil-fuel-based fertilizers and fuels. The delivery of the FP300 to Tracy and Curtis Hiebert's farm in Sperling, Manitoba, marked a milestone in sustainable agriculture. Once activated, the system will demonstrate how local production can strengthen farm economics, reduce environmental impact, and build resilience against climate change, market instability, and global supply disruptions. FuelPositive aims to position Canada as a global centre of excellence for decentralized Green Ammonia production and to establish a world-leading manufacturing hub. Supported by Stantec, one of the world's top engineering and consulting firms, this initiative will drive economic growth, create high-value jobs in engineering, science, and skilled trades, and promote a more resilient and sustainable food system. FuelPositive is located in Ontario and Manitoba (Canada) and trades on the TSX Venture Exchange under the symbol NHHH, as well as on the OTCQB in the USA under the symbol NHHHF. Cautionary Statement Trading in the securities of the Company should be considered highly speculative. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this release. Forward-Looking Statements This news release contains certain "forward-looking information" and "forward-looking statements" (collectively, "forward-looking statements") that are based on expectations, estimates and projections as of the date of this news release. The information in this release about future plans and objectives of the Company are forward-looking statements. These forward-looking statements are based on assumptions and estimates of management of the Company at the time they were made and 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 such forward-looking statements. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by the Company as of the time of such statements, are inherently subject to significant business, economic and competitive uncertainties and contingencies. These estimates and assumptions may prove to be incorrect. Many of these uncertainties and contingencies can directly or indirectly affect and could cause, actual results to differ materially from those expressed or implied in any forward-looking statements. There can be no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Forward-looking information is provided to provide information about management's expectations and plans relating to the future. The Company disclaims any intention or obligation to update or revise any forward-looking information or to explain any material difference between subsequent actual events and such forward-looking information, except to the extent required by applicable law. SOURCE FuelPositive Corp.
Toronto Star
2 days ago
- Toronto Star
PharmaCorp Rx Inc. Reports Q2 2025 Financial Results
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.' ARTICLE CONTINUES BELOW 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 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. ARTICLE CONTINUES BELOW ARTICLE CONTINUES BELOW 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 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 info@ Tel: (306) 536-3771 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 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.
