NeuPath Health (NPTH) investor relations material

Executive summary

• Revenue grew 7% year-over-year to $23.2 million in Q2 2026, excluding a prior year one-time payment impact, with positive cash flows from operations and Adjusted EBITDA of $1.7 million.

• Record patient visits rose 6% year-over-year, driven by higher patient volumes.

• Six new physicians were onboarded post-quarter, expanding service lines and geographic reach.

• Operates 12 regulated medical facilities in Ontario and Alberta, with approximately 160 healthcare professionals and about 200,000 annual patient visits.

Financial highlights

• Excluding the CAD 1.9 million one-time payment in Q2 2025, revenue and adjusted EBITDA showed solid organic growth of 7% and 3% for the quarter, and 9% and 8% for the six months, respectively.

• Adjusted EBITDA for Q2 2026 was $1.7 million, with YTD adjusted EBITDA at $3.2 million.

• Capacity utilization improved to 56% from 52% last year.

• Net leverage remains low at 0.4x, providing flexibility for business development.

• Professional fees and operational downtime impacted adjusted EBITDA, but issues have been resolved.

Outlook and guidance

• Anticipates further growth from newly onboarded physicians, expansion into new markets, and continued operational improvements.

• Guelph facility opening delayed to early Q4 2026, with three new physicians joining.

• M&A pipeline is active, with at least one transaction targeted for the back half of the year and expansion into adjacent markets such as orthopedics.