NeuPath Health (NPTH) Q4 2024 earnings summary

Executive summary

• Achieved fourth quarter revenue of $18.9 million, up 12% year-over-year, and full-year revenue of $72.8 million, up 10% year-over-year.

• Adjusted EBITDA reached $0.9 million for Q4 (up 18% year-over-year) and $3.8 million for the year (up 19% year-over-year), marking 24 consecutive quarters of positive adjusted EBITDA.

• Positive cash flows enabled significant investments in facilities to support future growth.

• Performed the first-ever North American injection of Arthrosamid in Q1 2025 and secured a new $13.5 million credit facility to fund growth initiatives.

Financial highlights

• Clinic revenue for Q4 was $17.5 million (up from $15.3 million year-over-year); full-year clinic revenue was $67.3 million (up from $61.0 million year-over-year).

• Non-clinic revenue for Q4 was $1.4 million (down slightly from $1.5 million year-over-year); full-year non-clinic revenue was $5.5 million (up from $5.1 million year-over-year).

• Gross margin for Q4 was 19.2%; full-year gross margin was 19.0%, up from 18.6% the previous year.

• Net and comprehensive loss for the year was $485,000, improved from $191,000 loss in the prior year.

Outlook and guidance

• Management expects continued operational improvements and execution of growth opportunities in 2025.