Premier Health Reports 2025 Fourth Quarter Results

Executive Summary

• Premier Health of America Inc. filed its audited annual consolidated financial statements and MD&A for the year ended September 30, 2025, reporting a net loss of C$6.5 million for Q4 2025 versus a C$2.3 million loss in the comparable period of 2024.
• Adjusted EBITDA fell to C$440 k in Q4 2025 from C$995 k YoY, driven primarily by volume declines in Quebec and British Columbia.
• The company abandoned its Per Diem segment in Q1 2026 and is focusing on travel‑nurse services while pursuing cost reductions and debt management.

Key Details

• Revenue: C$20.79 M for Q4 2025 (down from C$33.46 M YoY).
• Gross Margin: C$3.452 M (16.6% of revenue) vs. C$5.326 M (15.9%) in Q4 2024.
• Adjusted EBITDA: C$440 k for Q4 2025, a 56% decline from C$995 k in Q4 2024.
• Impairment Charges: C$3.331 M recorded in Q4 2025 (no impairment in Q4 2024).
• Net Loss: C$6.497 M for Q4 2025, compared with a loss of C$2.272 M in the same quarter last year.
• Per Diem Segment: Represented <1% of Q4 revenue and <4% of total 2025 revenues; segment abandoned effective Q1 2026 due to regulatory impacts from Quebec’s Bill 10.
• Operational Highlights: Travel‑nurse and northern‑community services performing well overall, but BC experienced volume reductions linked to a centralized service acquisition by health authorities and rollout delays of a new contract. Ontario operations met expectations.
• Cost Reduction Efforts: Workforce reductions in Quebec and corporate structure continued; salary expenses reduced by C$0.7 M YoY in Q4, offset by a one‑time C$0.5 M benefit package to key management as part of the strategic review. BC subsidiary also adjusting cost structure.
• Management Commentary (Interim CEO Guy Daoust): Emphasized ongoing cost‑reduction plan, abandonment of Per Diem segment, focus on travel nurses, evaluation of home‑care market entry and Ontario tenders, commitment to debt management and organic growth.

Notable Quotes

“Our cost reduction plan is still progressing, and additional efforts were deployed in the current quarter. The Per Diem segment has been abandoned in Q1 2026, and our focus has fully shifted to Travel Nurses… In the short term, we remain committed to cost reduction, debt management, operational efficiency, and pursuing organic growth opportunities.” – Guy Daoust, Interim CEO

All figures are presented in thousands of Canadian dollars unless otherwise noted.