Financial highlights for the fourth quarter and twelve month period ended
Fourth quarter 2020/21 (
- Revenue of
EUR 2.4m (1.0m) for the quarter ended30 November 2021 . An increase ofEUR 1.4m or 165 per cent compared to the same period last year. - Proforma revenue growth of 47 per cent for the quarter ended
30 November 2021 compared to the same period last year. - This growth was achieved in all businesses:
- 47 per cent revenue growth of the existing
Physitrack business compared to the same period last year against a strong prior year comparator - 11 per cent revenue growth of the acquired Physiotools and
Mobilus (“Physiotools”) businesses on a proforma basis - 150 per cent revenue growth of the acquired Rehabplus business on a proforma basis;
- 122 per cent revenue growth of the acquired Fysiotest business on a proforma basis;
- 47 per cent revenue growth of the existing
- 3 month adjusted EBITDA of
EUR 0.8m (0.4m) increased by 106 per cent compared to the same period last year; - Adjusted EBITDA margins of 32 per cent, a decrease from 41 per cent compared to prior year due to lower margins of recently acquired companies;
- Profit after tax of
EUR 0.3m (0.1m) for the quarter.
12 Month period ended
- Revenue of
EUR 7.7m (3.1m) for the year ended30 November 2021 . An increase ofEUR 4.6m or 153 per cent against the same period last year; - Proforma[1] revenue growth of 36 per cent for the year ended
30 November 2021 against the same period last year. This growth was achieved in all businesses:- 46 per cent revenue growth of the existing
Physitrack business compared to the same period last year - 11 per cent revenue growth of the acquired Physiotools and
Mobilus (“Physiotools”) businesses on a proforma basis - 75 per cent revenue growth of the acquired Rehabplus business on a proforma basis
- 122 per cent revenue growth of the acquired Fysiotest business on a proforma basis;
- 46 per cent revenue growth of the existing
- 12 month adjusted EBITDA[2] of
EUR 2.6m (1.6m), increased by 58 per cent compared to the same period last year; - Adjusted EBITDA margins[3] of 33 per cent, a decrease from 53 per cent compared to prior year due to previously communicated lower margins of recently acquired companies;
- One-off IPO and M&A expenses were incurred of
EUR 1.6m , resulting in a loss after tax ofEUR 0.6m (0.6m profit) for the 12 months.
“Our Q4 2021 results were outstanding. Technological adoption and investment in our space are accelerating, and we continue to grow the business in these exciting times for our market. We have enhanced both our SaaS and our Virtual Care businesses through our acquisitions and through product development, and we look forward to continue on our growth trajectory in 2022.”
Financial outlook
As outlined within the IPO prospectus,
- Growth:
Physitrack aims to achieve annual organic sales growth exceeding 30 per cent in the medium term, further supplemented by impact from future add-on acquisitions. - Margin:
Physitrack targets an EBITDA margin of 40-45 per cent in the medium term, with potential short term margin extractions due to add-on acquisitions impacting margins negatively.
There are no changes to these financial targets.
Change of year end
In order to more closely align our financial year end with the purchasing cycles of our customers the Board has made the decision to change the Group’s financial year end from 30 November to 31 December. All relevant reporting dates have been updated in the ‘Financial calendar’ section of our investor website: https://www.physitrackgroup.com/investors/financial-calendar.
Webcast presentation
A webcast presentation with dial-in possibility will be held at
Webcast link: https://tv.streamfabriken.com/physitrack-group-q4-2020-2021
Dial in details for participants:
SE: +46856642693
US: +16467224903
Enquiries regarding this announcement should be addressed to
Investor contact:
Media contact:
About
The company has two business lines:
1. Software-as-a-Service (SaaS)-based software platform tailored to physiotherapy and musculoskeletal care, encompassing clinical home exercises, education prescription, outcomes tracking, triaging and Telehealth.
2. Virtual care powered by the
For further information, please visit https://www.physitrackgroup.com/
Certified Adviser
info@fnca.se, +46 8 528 00 399
[1] See appendix 1 for the definition of proforma
[2] See appendix 1 for the definition of adjusted EBITDA
[3] See appendix 1 for the definition of adjusted EBITDA margins
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