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NeuPath Health (NPTH) investor relations material

NeuPath Health Q3 2025 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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Q3 2025 earnings summary13 Nov, 2025

Executive summary

  • Achieved over 26% revenue growth in Q3 2025, reaching $22.1 million, driven by higher patient volumes and optimized clinic operations.

  • Adjusted EBITDA increased by 98% year-over-year to $1.5 million, marking the 27th consecutive quarter of positive Adjusted EBITDA.

  • Focus remains on organic growth through increased physician hours, new service offerings, and optimizing clinic operations.

  • Inorganic growth is a priority, with a pipeline of over a dozen acquisition opportunities under evaluation.

  • Strong growth attributed to higher demand for ArthrosamidⓇ and operational improvements.

Financial highlights

  • Q3 2025 revenue up 26% year-over-year to $22.1 million, with year-to-date revenue at $65 million, up 20-21% from last year.

  • Clinic revenue was $20.8 million for Q3 2025, up from $16.3 million in Q3 2024; non-clinic revenue was $1.3 million.

  • Gross margin improved to 19.1% for Q3 2025 from 18.3% in Q3 2024.

  • Net and comprehensive loss for Q3 2025 was $94,000, compared to $323,000 in Q3 2024.

  • Net debt reduced to $1.7 million, with a cash balance of $4.6 million at quarter-end.

Outlook and guidance

  • Expecting continued high single to low double-digit organic growth over the next 12 months.

  • Management anticipates executing several acquisitions in the coming year, supported by operational improvements and rising demand.

  • Ongoing focus on expanding physician hours, adding new services, and entering new markets.

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