TORONTO, ON / ACCESS Newswire / May 15, 2025 / NEXGENRX INC. (TSX.V:NXG) ("NexgenRx" or the "Company") is pleased to announce its financial results for the first quarter ended March 31, 2025, with quarterly revenue growth of $342,604 to $4,550,730 and quarterly EBITDA of $828,401.
The Company achieved significant growth in revenue in Q1 2025 of $342,604 or 8.14% over the prior year comparable period. The increased revenue is mainly attributed to organic growth of existing clients. The Company's net income and EBITDA increased by $66,260 and $57,564 respectively, compared to the comparable period in 2024. The Company's cash position remained strong at $1,895,646 as of quarter end. The Company is well positioned to continue to generate free cash flow, supported by its strong recurring revenues and sales pipelines.
The Company continues to put its focus on the release of its enhanced iBenefits NexAdmin platform, which will be available through both Apple iOS and Google Android. This important step adds new functionality plus an enhanced member experience all in a newly developed web-based application, that NexgenRx customers really appreciate. The user experience features a brand-new look and feel incorporating all the latest market features into NexgenRx's proven robust administration platform. In addition, the Company continues to rapidly enroll more targeted healthcare providers to submit claims via NexgenRx's proprietary secure web-portal, theclaimsXchange.com.
Ron Loucks, President and CEO, stated "I am pleased to present the first quarter of 2025 financial results. Our Q1 2025 top line revenue continued to grow, a reflection of the Company's capability to sustain the strong momentum brought forward from 2024. In addition, the Company landed one of the new clients from our sales pipeline in April. Our implementation team continues to work diligently to bring all new clients on board in a timely manner, generating additional top line revenue for 2025."
About NexgenRx
NexgenRx is Canada's only independent full-service Third-Party Administrator and Technology Solutions Provider, offering proprietary full front-end, eligibility, enrolment, hour bank and mobile access capabilities, together with state-of-the-art claims adjudication and full provider network coverage. These combined capabilities allow NexgenRx to provide Plan Sponsors, sophisticated administration and health benefit technology applications in a cost-effective SaaS (Software as a Service) Model.
NexgenRx is committed to building partnerships with organizations looking to exceed the expectations of their clients and plan members and deliver superior administration and claims processing solutions at a competitive cost. More information on NexgenRx can be found at www.nexgenrx.com.
Caution Regarding Forward-Looking Statements
Except for statements of historical fact, this news release contains certain "forward-looking information" within the meaning of applicable securities law. Forward-looking information is frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate" and other similar words, or statements that certain events or conditions "may" or "will" occur. Although management believes that the expectations reflected in the forward-looking information are reasonable, there can be no assurance that such expectations will prove to be correct. The Company cannot guarantee future results, performance or achievements. Consequently, there is no representation that the actual results achieved will be the same, in whole or in part, as those set out in the forward-looking information.
Forward-looking information is based on the opinions and estimates of management at the date the statements are made and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking information. Some of the risks and other factors that could cause the results to differ materially from those expressed in the forward-looking information include, but are not limited to: uncertainty as to whether the Company's strategies and business plans will yield the expected benefits; potential increases in sales and revenues; availability and cost of capital; the ability to identify and develop and achieve commercial success for existing and new products and technologies; the level of expenditures necessary to maintain and improve the quality of products and services; changes in technology and changes in laws and regulations; continued development and enhancement of the Company's proprietary software technology; cyber security risks and the other risks and uncertainties disclosed in the Company's annual Management's Discussion and Analysis, as filed under the Company's profile on SEDARPLUS at www.sedarplus.ca. Readers are cautioned that this list of risk factors should not be construed as exhaustive.
The forward-looking information contained in this news release is expressly qualified by this cautionary statement. The Company undertakes no duty to update any of the forward-looking information to conform such information to actual results or to changes in the Company's expectations except as otherwise required by applicable securities legislation. Readers are cautioned not to place undue reliance on forward-looking information.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of the release.
FOR FURTHER INFORMATION PLEASE CONTACT:
Ronald C. Loucks |
| Kelly Ehler CPA, CA |
SOURCE: NexgenRx, Inc.
View the original press release on ACCESS Newswire:
https://www.accessnewswire.com/newsroom/en/computers-technology-and-internet/nexgenrx-announces-first-quarter-results-with-solid-revenue-growt-1028364
