PharmaCorp Rx (PCRX) Q1 2026 earnings summary

Executive summary

• Revenue grew 79.4% year-over-year in Q1 2026, driven by increased prescription volumes, front-of-store sales, and additional pharmacy acquisitions.

• Gross profit rose 71.9% year-over-year, with continued organic growth reflected in same-store sales and prescription sales increases of 7.3% and 7.2%, respectively.

• Integration of three pharmacies acquired in October 2025 proceeded as planned, supporting operational scale.

Financial highlights

• Q1 2026 revenue was $7.2 million, up from $4.0 million in Q1 2025.

• Gross profit reached $2.8 million, up from $1.6 million, with gross margins of 38.8% versus 40.5% a year ago.

• Adjusted EBITDA (Pre-IFRS 16, 4-Wall basis) was $0.9 million, up 30.1% year-over-year.

• Net loss of $0.09 million in Q1 2026 compared to net income of $0.22 million in Q1 2025, primarily due to higher employee compensation and timing of annual payments.

• Cash position as of March 31, 2026, was $23.4 million, down from $25.9 million at December 31, 2025.

Outlook and guidance

• Announced definitive agreements to acquire eight additional pharmacies in Eastern Canada, expected to close by end of June 2026.

• Completed acquisition of prescription files and operational data from a pharmacy in Western Canada and entered agreement for another Ontario pharmacy.

• Strategy remains focused on expanding the national network under the PharmaChoice Canada banner and supporting succession for retiring pharmacy owners.