Record Revenues of $4.2 million in Q2-24 up 106% over Q2-23
Operating profits of $0.3 million for Q2-24 compared to a loss of $0.6 million for Q2-23
Adjusted EBITDA was $0.7 million for Q2-24, compared to Adjusted EBITDA loss of $0.3 million for Q2- 23
Net loss for Q2-24 was $0.5 million, down 50% from the $1.0 million net loss in Q2-23
Completed the acquisition of Virage Santé in June 2024
YTD Revenues of $8.4 million up 106% over YTD-23
YTD Operating Profit of $0.4 million compared to an operating loss of $0.9 million last year
YTD Adjusted EBITDA of $1.2 million, up $1.4 million over YTD-23
YTD Net loss was $0.8 million, down 88% from the $6.4 million loss for YTD-23
Strenghten the balance sheet with financings and debt conversions totalling $12.7 million
BOUCHERVILLE, QC, Aug. 26, 2024 /CNW/ - LSL PHARMA GROUP INC. (TSXV:LSL) (the "Corporation" or "LSL Pharma "), a Canadian integrated pharmaceutical company, today reported its financial and operating results for the three- and six-months periods ended on June 30, 2024.
"Again during the quarter, LSL Pharma experienced strong demand for our Steri-Med products while our CDMO operations continued to ramp up production following the site relocation, and the implementation of new equipment and services", commented Francois Roberge, President and Chief Executive Officer of LSL Pharma. "Virage Santé contributed some revenues and margins during the quarter, and we expect to take full advantage of this acquisition over the coming quarters. Following a series of financial transactions aimed at strengthening our balance sheet and provide liquidities to fund our growth initiatives, we are now focussing on executing our organic and strategic growth plan", added Francois Roberge.
Commenting on the Q2-24 and YTD-24 financial results, Luc Mainville, Executive Vice-President and Chief Financial Officer said, "The second quarter was another strong quarter as we saw all three businesses operations contribute to our overall results and helping LSL Pharma generate operating profits for the second quarter in a row. Also, our YTD adjusted EBITDA performance is a clear indication of our substantial progress, by improving from a loss of $0.3 million for YTD-23 to a $1.2 million adjusted EBITDA profit this year."
Q2-24 Financial
The Corporation achieved record revenues in Q2-24, at $4.2 million, up 106% compared to Q2-23 and 1% above the prior quarter Q1-24. During Q2-24 our Steri-Med operations experienced strong domestic demand for its products while our CDMO business continued to take advantage of the increased capacity that followed the site expansion/relocation last year. Revenues also benefited from the revenues from Virage Santé acquired in June.
Adjusted gross profit for ...
