Press Releases 2021


Leveljump Announces Fiscal 2020 Earnings and Results

Toronto, ON – April, 16th 2021 – LevelJump Healthcare Corp. (TSXV: JUMP) (“LevelJump” or the “Company”), a Canadian leader in B2B telehealth solutions, is pleased to announce today its reported financial results for the year ended December 31, 2020. All amounts are expressed in Canadian dollars.

Financial and Operational Highlights

  • Leveljump recorded its second consecutive year of positive EBITDA while maintaining positive cash flow;
  • Adjusted EBITDA was $0.3 million or 5.3% of revenue for the year ended December 31, 2020 compared to $0.4 million or 7.2% of revenue in the prior year;
  • The improvement in quarterly revenue seen during the year continued in the 4th quarter. Revenue for the three months ended December 31, 2020 was $1.48 million similar to $1.51 million for the three months ended September 30, 2020, an improvement from the first two quarters which were $1.17 million for the three months ended June 30, 2020, and $1.28 million for the three months ended March 31, 2020;
  • Estimated revenue loss due to COVID-19 of approximately $0.45 million with an impact on EBITDA of approximately $0.1 million.
  • Completed a going public Qualifying Transaction (“QT”) with Good2Go2 Corp. and saw the Company’s shares begin trading on the TSXV;
  • On October 30 and November 25, 2020, the Company completed a public offering of 9,811,622 units at a price of $0.45 per unit for aggregate gross proceeds of approximately $4.4 million.
2020 Financial Results
  • Revenue was $1.48 million for the quarter ended December 31, 2020 compared to $1.45 million for the three months ended December 30, 2019. The increase was because of increased utilization at our client hospitals. For the year ended December 31, 2020, total revenue was $5.45 million compared to $5.37 million for the year ended December 31, 2019.
  • Total operating expenses increased to $0.63 million for the three months ended December 31, 2020 compared to $0.32 million for the three months ended December 31, 2019. The increase was because of one-time expenses of $211,138 in professional fees related to the QT as well as general and administration expenses increasing due to advertising. For the year ended December 31, 2020, total operating expenses were $1.1 million compared to $0.8 million for the year ended December 31, 2019.
  • For the three months ended December 31, 2020, adjusted EBITDA increased to $0.08 million compared to $nil million in the comparative quarter. For the year ended December 31, 2020, EBITDA decreased to $0.3 million or 5.3% of total revenue compared to $0.4 million or 7.2% of total revenue for the year ended December 31, 2019.
Subsequent to the Year End
After the year end the Company onboarded a new client which is expected to increase revenues by up to 10% on an annualized basis.

The Company issued 169,444 shares for proceeds of $30,500 for options and warrants that were exercised. The Company as well issued 125,000 shares and warrants to its attorney in exchange for $37,500 in legal fees.

The Company incorporated Leveljump Technologies Inc. in order to progress on its business plan for identifying and acquiring new medical technologies.

Leveljump listed its warrants from the concurrent financing with the QT on the TSXV under the symbol JUMP.WT

One-time Outlook for 2021
The Company has set several goals for 2021, including but not limited to; increasing the Company client base to increase trailing twelve-month revenues by the end of 2021 to $10 million annually, completing the Company’s changeover in new software systems, which began in 2020, to reduce operating costs and improve gross margins, and to continue working on the Company’s changeover in radiologist billing margins to 25% from 20%. The above goals would have a net estimated result of trailing twelve-month financial numbers of a total $10 million in Company revenue, $2.2 million in gross margin and approximately $1.1 million in EBITDA. Additionally, the Company has added an Advisory board in 2020 with the goal of finding suitable acquisitions for the Company.

Management Comments
“In the mist of the pandemic, we had a very exciting year in terms of growth, increased revenue and going public onto the TSXV”, said Mitch Geisler CEO. “We were able to navigate through a tough second quarter due to Covid-19 and still have increased revenue and profitability for 2020. This represents the fifth consecutive year over year revenue growth for our operations. The Company went public and retired its royalty obligations which will enhance our net cash flow in the coming years. Operations continue to thrive as more hospitals are looking to utilize services like CTS that emphasize remote healthcare for optimum patient care without delay. With a strong balance sheet and nearly no debt, the Company is well positioned for further growth. We have selected a new PACS supplier that will ultimately lead to decreased expenses and we have begun a new arrangement with radiologists joining the company that will increase gross margins.”

Non-IFRS Financial Measures
This news release contains financial terms (such as adjusted EBITDA) that are not considered in IFRS. Such financial measures, together with measures prepared in accordance with IFRS, provide useful information to investors and shareholders, as management uses them to evaluate the operating performance of the Company. The Company's determination of these non-IFRS measures may differ from other reporting issuers, and therefore are unlikely to be comparable to similar measures presented by other companies. Further, these non-IFRS measures should not be considered in isolation or as a substitute for measures of performance or cash flows prepared in accordance with IFRS. These financial measures are included because management uses this information to analyze operating performance and liquidity.

Adjusted EBITDA & Annual Revenue Run Rate
Management believes adjusted EBITDA is a useful supplemental measure to determine the Company’s ability to generate cash available for working capital, capital expenditures, debt repayments, interest expense and income taxes.

EBITDA refers to net income (loss) determined in accordance with IFRS, before depreciation and amortization, net interest expense (income) and income tax expense (recovery). The Company defines adjusted EBITDA as EBITDA, plus stock-based compensation expense, restructuring, fair value adjustments, listing expense and transaction costs, impairment and finance income.

A reconciliation of adjusted EBITDA to net income (loss) is as follows:

For further details on the results, please refer to Leveljump’s Management, Discussion and Analysis and Consolidated Financial Statements for the year ended December 31, 2020, which are available on the Company’s website ( and under the Company’s profile on SEDAR (

About LevelJump Healthcare
Leveljump Healthcare Corp., (TSXV: JUMP) is building a national medical diagnostic imaging company and brand, primarily by providing teleradiology (remote radiology) services to its client hospitals and imaging centers. Additionally, JUMP plans to expand through the acquisition of independent healthcare facilities focused on diagnostic imaging as well as acquiring new disruptive imaging technologies.


Mitchell Geisler, Chief Executive Officer
(877) 722-6965

This news release contains "forward-looking information" within the meaning of applicable securities laws relating to the Company's business plans and the outlook of the Company's industry. Although the Company believes, in light of the experience of its officers and directors, current conditions and expected future developments and other factors that have been considered appropriate, that the expectations reflected in this forward-looking information are reasonable, undue reliance should not be placed on them because the Company can give no assurance that they will prove to be correct. Actual results and developments may differ materially from those contemplated by these statements. The statements in this press release are made as of the date of this release and the Company assumes no responsibility to update them or revise them to reflect new events or circumstances other than as required by applicable securities laws. The Company undertakes no obligation to comment on analyses, expectations or statements made by third-parties in respect of the Company, Canadian Teleradiology Services, Inc., their securities, or their respective financial or operating results (as applicable).

Neither the Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Exchange) accepts responsibility for the adequacy or accuracy of this release.