Nova Leap Health (NLH) Planet MicroCap Showcase: Toronto 2026 summary

Business profile and care model

• Founded in 2016; operations marked their 10-year milestone in 2026, with ~1,200 staff across Nova Scotia and nine U.S. states. Insider ownership is 42%.

• Focus remains non-medical home care, including personal care, meals, housekeeping, transportation and mobility support; ~75% of clients live with dementia at varying stages.

• ~85% of revenue comes from hourly private-pay services and 15% from Veterans Affairs; long-term care insurance is <1% of revenue, with no Medicare or Medicaid exposure.

• Six-year average accounts receivable collection rate was 99.69%; the lowest annual collection rate reported was 99.4%.

Performance and organic growth

• Q2 2026 trailing-12-month revenue exceeded US$36 million; consolidated adjusted EBITDA margin exceeded 10% for the first time in Q2.

• Q2 2025 to Q2 2026 organic growth was 10.7%; H1 2026 organic growth was 9%.

• Adjusted EBITDA has been growing faster than revenue, with operating leverage beginning to emerge; the founder’s prior expectation was to approach a 10% adjusted EBITDA margin near US$40 million in revenue, reached earlier than anticipated.

• Management plans continued investment in initiatives across both countries to support organic growth and deepen geographic density.

Expansion and capital allocation

• Care management launched in Massachusetts in January 2026 and palliative care launched in Nova Scotia earlier in 2026; both remain startup divisions with currently insignificant financial contributions.

• Private nursing is planned for 2027, likely launched organically in Massachusetts and Nova Scotia, where operations have the greatest density; private nursing would extend care to higher-acuity needs.

• Lexington, Kentucky, opened ~13 months before the event and was near breakeven; Waltham, Massachusetts, opened in June 2026. New offices are expected to lose money for 18–24 months.

• Care management is expected to incur losses for another 12 months; management views well-executed startups as offering higher returns on invested capital than acquisitions, while M&A provides cash flow sooner.

• Acquisitions have typically been made at 3x–5x EBITDA; the last five deals were priced at 3x for two, 4.5x for one and 5x for two. Acquired businesses are typically established, profitable and non-franchised.