Jack Nathan Health Announces Its Q2 Fiscal 2026 Financial Results

Executive Summary

• Jack Nathan Medical Corp. reported unaudited interim results for the three‑ and six‑month periods ended July 31, 2025, showing continued losses and a decline in MedSpa revenue as the company winds down its Mexico operations.
• Revenues fell 14% year‑over‑year to $412,791 (six months), while operating expenses remained high, resulting in a loss from continuing operations of $939,700 for the six‑month period.
• The company now operates only four Canadian MedSpa clinics and expects to focus on achieving breakeven by year‑end after restructuring.

Key Details

• Revenue:
• Three months ended July 31 2025: $227,532 (down from $264,546 in 2024).
• Six months ended July 31 2025: $412,791 (down $37,014 or 14% vs. $471,548 in 2024).
• Operating Expenses:
• Three months: $(709,698) (vs. $(1,088,630) in 2024).
• Six months: $(1,352,491) (vs. $(2,123,836) in 2024).
• Loss from Continuing Operations:
• Three months: $(482,166) (vs. $(824,084) in 2024).
• Six months: $(939,700) (vs. $(1,652,288) in 2024).
• MedSpa Segment: Revenue decreased $58,757 (12%) YoY for the six‑month period.
• Mexico Operations: All Mexico clinics closed as of June 30 2025; now classified as discontinued operations. The company is winding down the subsidiary, recovering receivables and settling liabilities.
• Balance Sheet (as of July 31 2025):
• Cash: $0.80 M (down from $2.20 M on Jan 31 2025).
• Total assets: $1.56 M (down from $3.54 M).
• Total liabilities: $1.47 M (down from $2.22 M).
• Share Structure: 87,099,159 common shares outstanding; 1,300,000 stock options; 335,004 DSUs.
• Management Commentary: CEO Mike Marchelletta noted the closure of Mexico operations, cost restructuring, improved adjusted EBITDA, and confidence in reaching breakeven by year‑end.

Notable Quotes

“Q2 marked the closure of our Mexico operations and the start of the wind‑down process of our Mexico subsidiary. This allows us to focus entirely on our Canadian MedSpa business… We are already seeing improved adjusted EBITDA and remain confident in reaching breakeven by year‑end.” – Mike Marchelletta, CEO

Materiality Assessment: Material – Negative (significant loss, revenue decline, and strategic shift).