Quarter ended 31 March 2022 (January – March 2022)
- Revenue increased by 67 per cent from the comparative period in 2021 to generate total sales of EUR 2.6m (EUR 1.5m). On a proforma basis revenue grew by 29 per cent. This increase was primarily driven through an increase in subscribers on the SaaS platform and continued focus by management on retention, reducing churn.
- Adjusted EBITDA increased by 44 per cent from the comparative period in 2021 to EUR 0.7m (EUR 0.5m), resulting in an Adjusted EBITDA margin of 29 percent (34 per cent). The movement from the prior year comparative was driven by recent acquisitions, as well as the Group’s current focus on ensuring that the underlying business is structured, with the right systems and processes to support its scale-up ambitions.
- Adjusted operating profit of EUR 0.4m (EUR 0.2m) was generated resulting in a margin of 17 per cent (13 per cent) driven by a fall in amortisation due to the amortisation period of certain historic assets ending.
- Adjusted ordinary and diluted earnings per share totalled EUR 0.02 (EUR 0.02).
- Cashflow generated from operations before the payment of adjusting items equalled EUR 0.5m (EUR 0.5m).
- Following the closure of the period, Physitrack acquired Champion Health, a leading UK digital workplace health platform, to capture stronghold in corporate wellness market and enhance its holistic care offering. Learn more about Champion Health and the acquisition at https://vimeo.com/713136708/54fc934c6b.
Henrik Molin, Co-founder and CEO of Physitrack PLC commented:
“As we build on the success of the 2021 financial year, I am pleased to see the continuation of the Group’s growth trajectory in 2022 coupled with significantly accelerating EBITDA. As outlined within the IPO prospectus, the Group is building on the success of the existing SaaS platform and utilising this stable and financially successful foundation to develop and build a corporate virtual wellness ecosystem. As a result of the acquisitions which have taken place during and subsequent to Q1 2022 we now have the building blocks of an all-encompassing Virtual Wellness offering and larger geographic footprint in key markets. I am excited to see this grow during the financial year.”
A webcast and telephone conference will be held at 10.00 a.m. CEST today with CEO Henrik Molin and CFO Charlotte Goodwin. The presentation will be held in English and will be available on https://www.physitrackgroup.com/investors/reports-presentations after the webcast conference.
Dial-in number for teleconference:
Link to webcast:
Enquiries regarding this announcement should be addressed to:
Adam Nilsson, investor and media contact, Physitrack:
+46 (0) 707 46 44 21
Physitrack PLC, founded in 2012, is a global digital healthcare provider, focused on the B2B wellness and virtual-first care markets. With staff on four continents, customers in 17 time zones, and end users in 187 countries, Physitrack is a truly global company.
The company has two business lines:
1. Software-as-a-Service (SaaS) - based software platform tailored mainly to physiotherapy and musculoskeletal care, enabling practitioners to deliver clinical home exercises, education prescription, outcomes tracking, triaging and Telehealth.
2. Virtual-first wellness and care provision powered by the Physitrack technology platform and care professionals based in the United Kingdom, Germany and the Nordics.
Physitrack PLC is headquartered in London, United Kingdom, and listed on Nasdaq First North Premier Growth Market (PTRK).
Visit us at https://www.physitrackgroup.com/.
FNCA Sweden AB is the appointed Certified Adviser of Physitrack.
[email protected], +46 8 528 00 399