Highlights
Revenue for the quarter increased year over year by 10.5% to $8.8 million.
Gross profit increased year over year by 13.5% to $4.7 million for the quarter.
Adjusted EBITDA1 increased year over year by 16.6% to $1.5 million for the quarter.
Introducing a 5-year financial target to organically double Adjusted EBITDA1 by the end of 2030.
"We posted a solid first quarter for both revenue and Adjusted EBITDA," said Angela Cechetto, Chief Executive Officer. "Our Pharmacy business grew organically by 8.8% to $5.6 million due to an increase in sales of compounded products. Meanwhile, our Animal Health revenue grew by 13.8% to $3.1 million year-over-year resulting from an increase in sales of established products, new products introduced during the prior year and an increase in commission revenue. Adjusted EBITDA1 for the quarter increased year-over-year by 16.6% to $1.5 million as a result of higher revenue and gross profits. During 2026, we will continue to advance our growth strategy by investing in key initiatives to support future scale, including the development of a new facility, implementation of an ERP system and continued investment in personnel."
Ms. Cechetto continued, "Our five-year financial goals are grounded in a commitment to invest in our people, facilities and processes. As a result of these investments, we have set a target to organically double Adjusted EBITDA1 by the end of 2030. We are also actively pursuing acquisition opportunities to meaningfully augment this organic growth plan over the same horizon."
Key Financial Data and Comparative Results
Three months ended
Mar 31, 2026
Mar 31, 2025
Revenue
$8,753,736
$7,921,835
Gross profit
4,733,904
4,169,712
Gross profit %
54.1 %
52.6 %
Total operating expenses
4,050,694
3,648,513
Operating income for the period
683,210
521,199
Income tax expense
123,693
53,155
Net income for the period
145,265
27,248
Earnings per share
Basic and diltued
$0.004
$0.001
