WELL Health (TSX: WELL) posts revenue jump of 573% in Q4: Buy alert?

Follow us on Google News:
 WELL Health (TSX: WELL) posts revenue jump of 573% in Q4: Buy alert?
Image source: © 2022 Kalkine Media Inc

Highlights

  • WELL Health Technologies Corp (TSX: WELL) has been trending on the stock markets after releasing its fourth-quarter and annual results for fiscal 2021 on Thursday morning, March 31.
  • The company said that its 2021 revenue increased 502 per cent from 2020, mainly due to acquisitions and organic growth.
  • The WELL stock galloped by nearly 10 per cent and was trading at C$ 4.92 apiece at 9:43 AM EST on Thursday following its positive earnings report.

WELL Health Technologies Corp (TSX: WELL) has been trending on the stock markets after it released its Q4 and FY results for fiscal 2021 on Thursday, March 31. 

The Canadian healthcare service company operates a portfolio of healthcare clinics and also promotes digitization in the health sector through its electronic medical records business.  

WELL Health, in its earnings report, said that its 2021 revenue increased by 502 per cent a year-on-year (YoY), mainly due to acquisitions and organic growth. 

Let us have a detailed look at WELL Health’s performance. 

WELL Health Technologies Corp (TSX: WELL) financial performance in Q4 FY 2021 

The Vancouver, British Columbia-headquartered firm reported a revenue of C$ 115.7 million in the fourth quarter of fiscal 2021, representing a YoY rise of 573 per cent.  

Its adjusted gross margin improved to 54.9 per cent in the latest quarter, up from 46.5 per cent a year ago. 

The C$-1 billion market cap firm recorded an adjusted EBITDA of C$ 25.67 million in Q4 FY2021, as compared to 0.76 million a year ago. 

WELL Health significantly improved its net profit to C$ 0.707 million in the latest quarter against a net loss of C$ 10.4 million in Q3 2021 and a gain of C$ 5.77 million earned in Q4 2020.

Also read: AQN and NPI: 2 TSX clean stocks as Canada plans to cut emissions by 40% 

WELL Health’s stock performance

WELL stock galloped by nearly 10 per cent and was trading at C$ 4.92 apiece at 9:43 AM EST on Thursday following the release of its earnings report.

Bottomline

WELL Health Technologies increased its total omnichannel visits by 121 per cent YoY to 0.7 million in Q4 2021.  

The company said that it expects its annual revenue to surpass 0.5 billion in 2022, underpinned by its organic growth strategies paired with tuck-in acquisitions. 

Also read: Razor (RZE) and FHYD: 2 Canadian penny stocks that rose 700% in 1 year 

Please note, the above content constitutes a very preliminary observation based on the industry, and is of limited scope without any in-depth fundamental valuation or technical analysis. Any interest in stocks or sectors should be thoroughly evaluated taking into consideration the associated risks.

Disclaimer

The content, including but not limited to any articles, news, quotes, information, data, text, reports, ratings, opinions, images, photos, graphics, graphs, charts, animations and video (Content) is a service of Kalkine Media Incorporated (Kalkine Media), Business Number: 720744275BC0001 and is available for personal and non-commercial use only. The advice given by Kalkine Media through its Content is general information only and it does not take into account the user’s personal investment objectives, financial situation and specific needs. Users should make their own enquiries about any investment and Kalkine Media strongly suggests the users to seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice), as necessary. Kalkine Media is not registered as an investment adviser in Canada under either the provincial or territorial Securities Acts. Some of the Content on this website may be sponsored/non-sponsored, as applicable, however, on the date of publication of any such Content, none of the employees and/or associates of Kalkine Media hold positions in any of the stocks covered by Kalkine Media through its Content. Kalkine Media hereby disclaims any and all the liabilities to any user for any direct, indirect, implied, punitive, special, incidental or other consequential damages arising from any use of the Content on this website, which is provided without warranties. The views expressed in the Content by the guests, if any, are their own and do not necessarily represent the views or opinions of Kalkine Media. Some of the images/music that may be used in the Content are copyright to their respective owner(s). Kalkine Media does not claim ownership of any of the pictures displayed/music used in the Content unless stated otherwise. The images/music that may be used in the Content are taken from various sources on the internet, including paid subscriptions or are believed to be in public domain. We have used reasonable efforts to accredit the source wherever it was indicated or was found to be necessary.

Featured Articles

We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it. OK