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Syncordia Technologies and Healthcare Solutions, Corp. Reports Second Quarter Fiscal 2018 ResultsTORONTO, Nov. 29, 2017 /CNW/ - Syncordia Technologies and Healthcare Solutions, Corp. (TSXV: SYN) ("Syncordia" or the "Company") today reported financial results for the three months ended September 30, 2017 the Company FY 2018 Q2, compared to the 3 months ended June 30th, 2017 the Company's FY 2018 Q1. All results are reported in thousands of US dollars and are prepared in accordance with International Financial Reporting Standards ("IFRS"). Q2 FY 2018 Financial Highlights
Year-to-Date FY 2018 Financial Highlights
Q2 FY 2018 Business Highlights
Q2 FY 2018 Financial Results
Key Performance Indicator Billing Solutions grew 16% to 45,495 encounters in Q2 2018 HSI Encounters decreased 49% to 7146 in Q2 FY 2018. Paragon Encounters decreased 24% to 77,749 Q2 FY 2018. This decrease in encounters reflects the seasonality in Paragon's business, as well as an abnormally high Q1 encounter count due to working down backlog of new client. Forward Looking Statemnts Cautionary Note Regarding Non-IFRS Measures Earnings before Interest, Taxes, Depreciation and Amortization ("EBITDA") and Adjusted Earnings before Interest, Taxes, Depreciation and Amortization ("Adjusted EBITDA") are non-IFRS measures used by management to provide additional insight into our performance and financial condition. We believe that these non-IFRS measures are important as they provide an indication of the results generated by our RCM business prior to taking into consideration how those activities are financed as well as the other items listed in their respective definitions. Accordingly, we are presenting EBITDA, Adjusted EBITDA and Adjusted EBITDA before Syncordia Cloud and Corporate costs in this MD&A to enhance the usefulness of our MD&A. We have provided below a reconciliation of EBITDA, Adjusted EBITDA and Adjusted EBITDA before Syncordia Cloud Corporate costs to the most directly comparable IFRS figures, disclosure of the purpose of the non-IFRS measure, and how the non-IFRS measures is used in managing the business. EBITDA, Adjusted EBITDA and Adjusted EBITDA before Syncordia Cloud and Corporate costs are not calculations based on IFRS and should not be considered an alternative to operating income or net income (loss) in measuring the our performance, nor should it be used as an exclusive measure of cash flow, because it does not consider the impact of working capital growth, capital expenditures, debt principal reductions and other sources and uses of cash which are disclosed in the consolidated statements of cash flows. Investors should carefully consider the specific items included in our computation of these measures. Management defines EBITDA as Earnings before Interest, Taxes, Depreciation and Amortization. Management defines Adjusted EBITDA as Earnings before Interest, Taxes, Depreciation, Amortization, Transaction Costs, Fair Value Gains/Losses, Foreign Exchange Gains/Losses, Stock Based Compensation and Cash based Share Compensation Arrangements. Transaction costs include professional fees associated with business transactions. Management defines Adjusted EBITDA before Syncordia Cloud and Corporate costs as Earnings before Interest, Taxes, Depreciation, Amortization, Transaction Costs, Fair Value Gains/Losses, Foreign Exchange Gains/Losses, Stock Based Compensation, Cash based Share Compensation Arrangements and costs of our Syncordia Cloud and Corporate segment. This metric is used to assess the performance of RCM and Syncordia Cloud segments. Gross margin is a non-IFRS measure defined by management to reflect revenue less direct costs of sale, excluding amortization of intellectual property, customer lists, other amortizations and fair value gains/losses. Syncordia Cloud and Corporate costs include sales and marketing, general and administrative and research and development, less amortization and depreciation, foreign exchange gains and losses, and stock-based compensation expense indexed to our share price. About Syncordia Technologies and Healthcare Solutions, Corp. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. SOURCE Syncordia Technologies and Healthcare Solutions, Corp. |