CareRx (CRRX) Q3 2026 earnings summary

Executive summary

• Q3 revenue increased to CAD 95.280M from CAD 93.220M YoY as average beds serviced rose to 93,225 from 91,298.

• Approximately 3,000 residents were onboarded under a long-term contract with a national seniors-home operator.

Financial highlights

• Q3 Adjusted EBITDA was CAD 8.064M versus CAD 8.345M YoY; margin was 8.5% versus 9.0%.

• Net income was CAD 0.241M versus CAD 1.550M YoY; non-cash deferred tax expense and refinancing transaction costs contributed to the decline.

• Cash provided by operations was CAD 6.461M versus CAD 10.076M YoY.

• For the first nine months, revenue was CAD 282.774M versus CAD 274.160M, and Adjusted EBITDA was CAD 24.505M versus CAD 24.121M.

Outlook and guidance

• Q4 is expected to reflect the full benefit of all 3,000 beds being onboarded from October 1, alongside efficiency gains; minor one-time onboarding expenses are not expected to recur.

• Management expects organic growth from new contracts and existing partners’ expansion, and is pursuing accretive acquisitions; some expected wins may move into the new year.

• Management cited capacity to support further scale; the National Bank credit agreement is expected to improve financial flexibility and provide dedicated investment capacity.