NexgenRx Announces Q3 2022 Financial Results with Continued Revenue Growth, Positive EBITDA and Free Cash Flow

Nov 30, 2022

TORONTO, ON / ACCESSWIRE / November 29, 2022 / NEXGENRX INC. ("NexgenRx" or the "Company") is pleased to announce its interim financial results for the third quarter ended September 30, 2022, highlighted by continued revenue growth, positive EBIDTA and increased free cash flow. During Q3 2022, the Company showed revenue growth of 15.81% over the same period last year. Revenue for the third quarter was $3,317,358 and $9,401,460 year-to-date. The Company continued to achieve a positive EBITDA of $280,638 and shareholder free cash flow in Q3 2022. EBITDA in Q3 2022 was smaller compared to prior period last year as a result of costs associated with client growth initiatives. With new client commitments, the Company anticipates that additional increased revenue will contribute continued positive financial results in the upcoming quarters. The Company continued to add free cash flow in the quarter, bringing its year-to-date number to $1,993,822, as a result of reduced working capital expenditures and continued cost control measures.

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