CareRx (CRRX) investor relations material

Executive summary

• Achieved strong financial and operational performance in Q4 2025, with revenue of CAD 96.1 million and adjusted EBITDA of CAD 8.8 million, marking an adjusted EBITDA margin of 9.2%.

• Full-year revenue reached CAD 370.2 million, adjusted EBITDA CAD 32.9 million, and adjusted EBITDA margin 8.9%.

• Achieved first full year of positive net income, with CAD 3.3 million after a deferred income tax recovery, compared to a net loss in the prior year.

• Average beds serviced increased to 92,250 in Q4 2025, with over 4,500 new beds added during the year.

• Initiated a quarterly dividend and renewed the normal course issuer bid, reflecting confidence in long-term growth.

Financial highlights

• Q4 revenue grew to CAD 96.1 million from CAD 92.2 million year-over-year, driven by higher average beds serviced.

• Adjusted EBITDA for Q4 increased to CAD 8.8 million from CAD 7.6 million, with margin improving to 9.2% from 8.2%.

• Net income for Q4 was CAD 1 million (adjusted), compared to a net loss of CAD 2.2 million in Q4 2024.

• Cash from operations in Q4 was CAD 9.6 million, up from CAD 8.4 million year-over-year.

• Total assets at year-end were CAD 242.9 million, with total liabilities at CAD 133.4 million.

Outlook and guidance

• Targeting 6,000–8,000 net new organic beds for 2026, with a strong sales pipeline and no major customer expirations expected.

• Optimistic about breaking into double-digit EBITDA margins with targeted bed growth.

• Monitoring the potential genericization of semaglutide, which could provide some gross margin upside in late 2026.

• Management expects continued growth driven by operational efficiency and expansion with home operator partners.

• Dividend of CAD 0.02 per share declared for Q1 2026, payable April 9, 2026.