Premier Health Reports 2026 First Quarter Results

Executive Summary

• Premier Health of America Inc. filed its unaudited Q1 2025 Consolidated Financial Statements and MD&A, reporting a net loss of C$2.55 million versus C$2.26 million a year earlier.
• Adjusted EBITDA collapsed to C$5 thousand from C$705 thousand YoY, driven primarily by a decline in the British Columbia market.
• The company discontinued its Per Diem and Transportation operations during the quarter and is now focusing exclusively on Travel Nurse services across Canada.

Key Details

• Revenue: C$17.8 million for Q1 2025 (down 44% from C$32.1 million in Q1 2024).
• Gross Margin: C$2.73 million, representing 15.28% of revenue (vs. 16.0% YoY).
• Adjusted EBITDA: C$5 thousand (down from C$705 thousand YoY).
• Net Loss: C$(2.55) million (vs. C$(2.26) million YoY).
• Geographic Performance: British Columbia market volume declined due to a health‑authority service acquisition centralization initiative; other regions (travel nurse and northern community services) performed generally well.
• Operational Changes:
• Discontinued Per Diem and Transportation lines of business in Q1 2025 as they were no longer profitable.
• Refocused resources on Travel Nurse operations nationwide.
• Management Commentary (Interim CEO Guy D’Aoust): Emphasized ongoing cost‑reduction plan, debt management, operational efficiency, and pursuit of organic growth opportunities.
• Forward‑Looking Statements: Management indicated the centralization initiative is expected to ultimately favor competitive providers such as SSI; no specific guidance provided for future periods.

Notable Quotes

“Our cost reduction plan is still progressing, and additional efforts were deployed in the current quarter. The Per Diem and transportation operations were abandoned this quarter, 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 D’Aoust, Interim CEO, Premier Health of America Inc.