● Crossed $100
million milestone with the signing of $11 million in new ARR through important wins in
the large enterprise customer segment
● Strong
quarterly results highlighted by revenue at the high end of
guidance and better profitability
● Expect to
deliver another sequential improvement in adjusted EBITDA
MONTREAL, Jan. 25,
2023 /CNW Telbec/ - Dialogue Health Technologies Inc.
(TSX: CARE) ("Dialogue" or the "Company"), Canada's premier virtual healthcare and
wellness platform, provided today a business update and preview for
the fourth quarter of 2022. For the three-month period ending
December 31, 2022, Dialogue expects to deliver total revenue
of $24.9 million, a gross margin
in excess of 56%, and an adjusted EBITDA loss of approximately
$2.4 million.
![Dialogue Logo (CNW Group/Dialogue Health Technologies Inc.) Dialogue Logo (CNW Group/Dialogue Health Technologies Inc.)](https://mma.prnewswire.com/media/1989409/Dialogue_Health_Technologies_Inc__Dialogue_Provides_Business_Upd.jpg)
"We had an exceptionally strong performance to close out the
year. We surpassed $100 million in
annual recurring and re-occurring revenue ("ARR"), even after
factoring the sale of our operations in Germany, and I couldn't be more proud of our
team's hard work and commitment," said Cherif Habib, Chief
Executive Officer of Dialogue. "During the quarter, we signed
more than 200 new agreements and added $11 million in ARR. We
continued to generate meaningful interest in the large enterprise
customer segment – our top five direct wins represented nearly
100,000 members in total – and saw more than 70% of our new
customers sign-on for multiple services. Finally, I also want to
highlight the passion and dedication of our care team, all of whom
were extremely busy during the quarter and delivered under
demanding conditions."
Navaid Mansuri, Chief Financial
Officer, added: "We expect to deliver another sequential
improvement in profitability and remain on plan to reach our first
quarter of breakeven EBITDA by the end of 2023. As we move towards
this important milestone, we can count on a healthy balance sheet
to support our growth plans and to provide optionality when we
choose to act on the right acquisition opportunity. We view this as
an important competitive advantage and will continue to use
prudence as we proceed through the current market
uncertainty."
These financial results are preliminary, unaudited and subject
to change in connection with the completion of the Company's
financial closing process and the preparation of its audited
financial statements for 2022. Additionally, they do not reflect
the sale of our Occupational Health and Safety business, which will
be reported as discontinued operations.
Q4 Earnings Release and Conference
Call
Dialogue will release financial results for its fourth quarter
and full year of 2022 on Tuesday, March 21, 2023, at
4:30 p.m. ET. Dialogue will
subsequently hold a live Zoom video webinar on Wednesday,
March 22, 2023, at 8:30 a.m. ET
hosted by Cherif Habib, Chief Executive Officer, and Navaid Mansuri, Chief Financial Officer. A
question and answer session with analysts will follow the corporate
update.
Event Details
Date: Wednesday,
March 22, 2023
Time: 8:30 a.m. ET
Link:
https://us02web.zoom.us/webinar/register/WN_iArEZl9aRxG3Du2-YqEVeg
A link to the live event, as well as an accompanying investor
presentation, will be available on the Events and Presentations
page of Dialogue's website. Please connect at least 15 minutes
prior to the event to ensure adequate time for any software
download of Zoom that may be required to hear the event. Listeners
that prefer to dial in by phone may do so by accessing the same web
link, and the dial-in details will be provided by email upon
registration. A replay will be available approximately two hours
after the conclusion of the live event.
About Dialogue
Incorporated in 2016, Dialogue is Canada's premier virtual healthcare and
wellness platform, providing affordable, on-demand access to
quality care. Through our team of health professionals, we serve
employers and organizations who have an interest in the health and
well-being of their employees, members and their families. Our
Integrated Health Platform™ is a one-stop healthcare hub that
centralizes all of our programs in a single, user-friendly
application, providing access to services 24 hours per day, 365
days per year from the convenience of a smartphone, computer or
tablet. Dialogue is the first virtual care provider to receive the
Accreditation Canada Primer award, a third-party validation of
safety and high-level quality of care.
Forward-Looking
Information
This release includes "forward-looking information" and
"forward-looking statements" (collectively, "forward-looking
statements") within the meaning of applicable securities laws.
Forward-looking information may relate to our financial outlook
(including revenues and Adjusted EBITDA), and anticipated events or
results and may include information regarding our financial
position, business strategy, growth strategies, addressable
markets, budgets, operations, financial results, taxes, dividend
policy, plans and objectives.
In some cases, but not necessarily in all cases, forward-looking
statements can be identified by the use of forward-looking
terminology such as "plans" "targets", "expects" or "does not
expect", "is expected", "an opportunity exists", "is positioned",
"estimates", "intends", "assumes", "anticipates" or "does not
anticipate" or "believes", or variations of such words and phrases
or state that certain actions, events or results "may", "could",
"would", "might", "will" or "will be taken", "occur" or "be
achieved". In addition, any statements that refer to expectations,
projections or other characterizations of future events or
circumstances contain forward-looking statements. Forward-looking
statements are not historical facts, nor guarantees or assurances
of future performance but instead represent management's current
beliefs, expectations, estimates and projections regarding future
events and operating performance.
Forward-looking statements are necessarily based on a number of
opinions, assumptions and estimates that, while considered
reasonable by Dialogue as of the date of this release, are subject
to inherent uncertainties, risks and changes in circumstances that
may differ materially from those contemplated by the
forward-looking statements. Important factors that could cause
actual results to differ, possibly materially, from those indicated
by the forward-looking statements include, but are not limited to,
the risk factors identified under "Risk Factors" in Dialogue's
latest annual information form, and in other periodic filings that
Dialogue has made and may make in the future with the securities
commissions or similar regulatory authorities in Canada, all of which are available under
Dialogue's SEDAR profile at www.sedar.com. These factors are not
intended to represent a complete list of the factors that could
affect Dialogue. However, such risk factors should be considered
carefully. There can be no assurance that such estimates and
assumptions will prove to be correct. You should not place undue
reliance on forward-looking statements, which speak only as of the
date of this release. Dialogue undertakes no obligation to publicly
update any forward-looking statement, except as required by
applicable securities laws.
Although we have attempted to identify important risk factors
that could cause actual results to differ materially from those
contained in forward-looking information, there may be other risk
factors not currently known to us or that we currently believe are
not material that could also cause actual results or future events
to differ materially from those expressed in such forward-looking
information. There can be no assurance that such information will
prove to be accurate, as actual results and future events could
differ materially from those anticipated in such information.
Accordingly, you should not place undue reliance on forward-looking
information. The forward-looking information represents our
expectations as of the date of this earnings release (or as the
date it is otherwise stated to be made) and is subject to change
after such date. However, we disclaim any intention or obligation
or undertaking to update or revise any forward-looking information
whether as a result of new information, future events or otherwise,
except as required under applicable Canadian securities laws. All
of the forward-looking information contained in this earnings
release is expressly qualified by the foregoing cautionary
statements.
SOURCE Dialogue Health Technologies Inc.