Strong Adjusted EBITDA1 growth and Adjusted EBITDA Margin1 expansion combine to drive a fifth consecutive quarter of double digit Adjusted Free Cash Flow1 growth
Second Quarter 2025 Highlights
- Revenue of $435.2 million, an increase of 8.9% from the second quarter of 2024, with Same Practice Revenue Growth (“SPRG”)1 of 3.3%.
- Adjusted EBITDA1 of $81.2 million, an increase of 9.9% compared to the same period in 2024; Adjusted EBITDA Margin1 of 18.7%, an increase of 20 basis points over the same period in 2024.
- Adjusted Free Cash Flow1 and Adjusted Free Cash Flow per Share1 of $45.6 million and $0.23, an increase of 12.0% and 9.5%, respectively, over the same period in 2024; Adjusted Net Income1 of $30.7 million.
- Net debt / PF Adjusted EBITDA after rent Ratio1 of 3.65x, a decrease of 0.46x compared to the same period in 2024.
- Acquired 8 new practice locations which are expected to generate $3.8 million in PF Adjusted EBITDA after rent1 at 6.3x ($12.1 million and 7.1x, respectively, for the six months ended June 30, 2025) expanding Dentalcorp’s national footprint to 575 locations.
- Achieved a 91.8% recurring patient visit rate1, reflecting predictable and continued patient demand across the network.
Third Quarter 2025 Outlook
- Revenue and SPRG1 for the third quarter of 2025 are estimated to increase by 10.0% to 12.0% (to between $412.9M and $420.4M) and between 3.0% to 5.0%, from the third quarter of 2024, respectively.
- Adjusted EBITDA Margin1 for the third quarter of 2025 is estimated to increase by 20 basis points from the third quarter of 2024, to 18.6%, and Adjusted EBITDA1 is estimated to increase to between $76.8M and $78.2M.
- Subsequent to the quarter, closed $5.5 million of PF Adjusted EBITDA after rent1 representing 7 practices, and when combined with signed LOIs and acquisitions completed as of June 30, 2025, is greater than our 2025 full-year acquisition target of $25 million of PF Adjusted EBITDA after rent1.
(¹) Non-IFRS financial measure, non-IFRS ratio, or supplementary financial measure. For comprehensive definitions and quantitative reconciliations, please refer to the “Non-IFRS and Other Financial Measures” section within this news release.
TORONTO–(BUSINESS WIRE)–dentalcorp Holdings Ltd. (“Dentalcorp” or the “Company”) (TSX: DNTL), Canada’s largest and one of North America’s fastest growing networks of dental practices, today announced its financial and operating results for the second quarter ended June 30, 2025, reaffirmed the full year 2025 guidance previously provided in the Company’s news release dated March 21, 2025, and announced its outlook for the third quarter of 2025. All financial figures are in Canadian dollars unless otherwise indicated.
“Our teams across the country delivered another quarter of strong results, with revenue and Adjusted EBITDA growth of approximately 9% and 10%, respectively, over the second quarter of 2024, and setting new highs for both metrics. We continued to realize operating leverage across the business, with second quarter Adjusted EBITDA Margin expanding 20 basis points over the second quarter of 2024 to 18.7%, marking our fifth consecutive quarter of year-over-year Adjusted EBITDA Margin expansion,” said Graham Rosenberg, CEO and Chairman of Dentalcorp.
“We generated a record $45.6 million in Adjusted Free Cash Flow in the second quarter of 2025, representing an increase of approximately 12% over the second quarter of 2024,” Rosenberg continued. “This led to continued deleveraging, with our Net Debt / PF Adjusted EBITDA after rent Ratio decreasing to 3.65x, a reduction of 0.46x from the second quarter of 2024, marking our seventh consecutive quarter of deleveraging,” Rosenberg said.
“Following a strong second quarter of 2025, we are carrying this momentum into the third quarter, anticipating SPRG of 3.0% to 5.0%, revenue growth of 10.0% to 12.0%, and Adjusted EBITDA Margin expansion of 20 basis points over the third quarter of 2024, to 18.6%,” said Nate Tchaplia, President and Chief Financial Officer.
“During the second quarter of 2025, we acquired 8 new practices that are expected to generate $3.8 million in PF Adjusted EBITDA after rent, at an average multiple of 6.3x. We are pleased to note that as of today, we have closed on, or signed LOIs for, acquisitions representing PF Adjusted EBITDA after rent in excess of our 2025 acquisition target of $25 million,” Tchaplia continued.
“With regards to the federal government’s Canadian Dental Care Plan (“CDCP”), we have treated over 125,000 CDCP patients with 95% of our practices currently accepting CDCP patients. Second quarter 2025 SPRG was impacted by visit deferrals, as the newly eligible 18-64 cohort began to receive treatment in July. Looking ahead, we anticipate minimal CDCP-related visit deferrals for the balance of the year as the program is now fully deployed,” Tchaplia concluded.
“We remain on track to meet or exceed our full year 2025 guidance, where we expect to see SPRG of 3.0% to 5.0%, an accelerated pace of M&A with acquisitions representing $25 million+ of PF Adjusted EBITDA after rent, Pre-tax Adjusted Free Cash flow per Share growth of 15%+, and another year of Adjusted EBITDA Margin expansion of 20+ basis points,” said Rosenberg.
|
Consolidated Financial Results |
|||||||
|
|
Three months ended June 30, |
|
Six months ended June 30, |
||||
|
|
2025 |
|
2024 |
|
2025 |
|
2024 |
|
|
$ |
|
$ |
|
$ |
|
$ |
|
|
(expressed in millions of dollars) |
|
(expressed in millions of dollars) |
||||
|
Revenue |
435.2 |
|
399.8 |
|
844.6 |
|
772.2 |
|
Cost of revenue |
217.2 |
|
199.7 |
|
421.6 |
|
385.7 |
|
Gross profit |
218.0 |
|
200.1 |
|
423.0 |
|
386.5 |
|
Selling, general and administrative expenses |
141.2 |
|
130.0 |
|
272.7 |
|
252.9 |
|
Depreciation and amortization |
46.2 |
|
51.1 |
|
97.3 |
|
101.9 |
|
Share-based compensation |
3.0 |
|
3.6 |
|
4.5 |
|
7.1 |
|
Foreign exchange loss (gain) |
0.2 |
|
(0.1) |
|
0.2 |
|
(0.4) |
|
Net finance costs |
21.3 |
|
21.8 |
|
41.8 |
|
47.0 |
|
Change in fair value of financial instruments at fair value through profit or loss |
2.3 |
|
5.3 |
|
11.1 |
|
1.4 |
|
Other losses |
— |
|
2.3 |
|
0.9 |
|
2.3 |
|
Income (loss) before income taxes |
3.8 |
|
(13.9) |
|
(5.5) |
|
(25.7) |
|
Income tax expense (recovery) |
2.9 |
|
(2.0) |
|
3.8 |
|
(2.1) |
|
Net income (loss) and comprehensive income (loss) |
0.9 |
|
(11.9) |
|
(9.3) |
|
(23.6) |
|
Other Metrics |
|||||||
|
Adjusted EBITDA(a) |
81.2 |
|
73.9 |
|
157.1 |
|
142.0 |
|
Adjusted net income(a) |
30.7 |
|
26.4 |
|
60.3 |
|
44.1 |
|
Adjusted free cash flow(a) |
45.6 |
|
40.7 |
|
89.9 |
|
75.9 |
|
(a) |
Non-IFRS financial measure, non-IFRS ratio or supplementary financial measure. See the “Non-IFRS and Other Financial Measures and Ratios” section of this release for definitions and quantitative reconciliations. |
Conference Call Notification
The Company will hold a conference call to provide a business update on Friday, August 8, 2025, at 8:30 a.m. ET. A question-and-answer session will follow the business update.
|
LIVE CONFERENCE DETAILS |
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|
DATE: |
Friday, August 8, 2025 |
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TIME: |
8:30 a.m. ET |
|
WEBCAST: |
|
|
DIAL-IN NUMBERS: |
1 (888) 660-6396 or 1 (929) 203-0889 |
|
CONFERENCE ID: |
9097710 |
|
REPLAY: |
Available for two weeks after the call |
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DIAL-IN NUMBERS: |
1 (800) 770-2030 or 1 (647) 362-9199 |
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CONFERENCE ID: |
9097710 |
Non-IFRS and Other Financial Measures and Ratios
As appropriate, we supplement our results of operations determined in accordance with IFRS with certain non-IFRS and other financial measures and ratios as we believe these non-IFRS and other financial measures are useful to investors, lenders and others in assessing our performance and highlighting trends in our core business that may not otherwise be apparent when relying solely on IFRS measures. Our management also uses non-IFRS measures for purposes of comparing to prior periods; preparing annual operating budgets; developing future projections and earnings growth prospects; measuring the profitability of ongoing operations; analyzing our financial condition, business performance and trends, including the operating performance of the business after taking into consideration the acquisitions of dental practices; and determining components of employee compensation. As such, these measures are provided as additional information to complement IFRS measures by providing further understanding of our results of operations from management’s perspective, including how we evaluate our financial performance and how we manage our capital structure. We also believe that securities analysts, investors and other interested parties frequently use these non-IFRS and other financial measures and industry metrics in the evaluation of issuers.
These non-IFRS and other financial measures are not recognized measures under IFRS, do not have a standardized meaning prescribed by IFRS, may include or exclude certain items as compared to similar IFRS measures and may not be comparable to similarly-titled measures reported by other companies. Accordingly, these measures should not be considered in isolation nor as a substitute for analysis of our financial information reported under IFRS. For further information on non-IFRS and other financial measures and ratios, including the most directly comparable IFRS measures, composition of the measures, a description of how we use these measures, an explanation of how these measures are useful to investors and applicable reconciliations, refer to the “Non-IFRS and Other Financial Measures”, “Non-IFRS Financial Measures”, “Non-IFRS Ratios” and “Certain Supplementary Financial Measures” sections of management’s discussion and analysis of operations for the three and six months ended June 30, 2025, which is available on the Company’s profile on SEDAR+ at www.sedarplus.ca.
EBITDA
“EBITDA” means, for the applicable period, net income (loss) and comprehensive income (loss) plus (a) net finance costs, (b) income tax expense (recovery), and (c) depreciation and amortization. Management does not use EBITDA as a financial performance metric, but we present EBITDA to assist investors in understanding the mathematical development of Adjusted EBITDA and Same Practice EBITDA Growth. The most comparable IFRS measure to EBITDA is Net income (loss) and comprehensive income (loss), for which a reconciliation is provided below.
|
|
Three months ended June 30, |
|
Six months ended June 30, |
||||
|
|
2025 |
|
2024 |
|
2025 |
|
2024 |
|
|
$ |
|
$ |
|
$ |
|
$ |
|
|
(expressed in millions of dollars) |
|
(expressed in millions of dollars) |
||||
|
Net income (loss) and comprehensive income (loss) |
0.9 |
|
(11.9) |
|
(9.3) |
|
(23.6) |
|
Adjustments: |
|
|
|
|
|
|
|
|
Net finance costs |
21.3 |
|
21.8 |
|
41.8 |
|
47.0 |
|
Income tax expense (recovery) |
2.9 |
|
(2.0) |
|
3.8 |
|
(2.1) |
|
Depreciation and amortization |
46.2 |
|
51.1 |
|
97.3 |
|
101.9 |
|
EBITDA |
71.3 |
|
59.0 |
|
133.6 |
|
123.2 |
Adjusted EBITDA
“Adjusted EBITDA” is calculated by adding to EBITDA certain expenses, costs, charges or benefits incurred in such period which in management’s view are either not indicative of underlying business performance or impact the ability to assess the operating performance of our business, including: (a) net impact of unrealized foreign exchange gains or losses on non-cash balances; (b) share-based compensation; (c) external acquisition expenses; (d) change in fair value of financial instruments at fair value through profit or loss; (e) other corporate costs; (f) (gain) loss on disposal of dental practices; (g) loss on disposal and impairment of property and equipment and intangible assets; (h) loss on settlement of other receivables; (i) impairment of right-of-use assets; (j) post-employment benefits; and (k) short-term benefits. Adjusted EBITDA is a supplemental measure used by management and other users of our financial statements to assess the financial performance of our business without regard to the effects of interest, depreciation and amortization costs, expenses that are not considered reflective of underlying business performance, and other expenses that are expected to be one-time or non-recurring. We use Adjusted EBITDA to facilitate a comparison of our operating performance on a consistent basis from period to period and to provide for a more complete understanding of factors and trends affecting our business. The most comparable IFRS measure to Adjusted EBITDA is Net income (loss) and comprehensive income (loss), for which a reconciliation is provided below.
Adjusted EBITDA Margin
“Adjusted EBITDA Margin” means Adjusted EBITDA divided by revenue. We use Adjusted EBITDA Margin to facilitate a comparison of our operating performance on a consistent basis from period to period and to provide for a more complete understanding of factors and trends affecting our business.
|
|
Three months ended June 30, |
|
Six months ended June 30, |
||||
|
|
2025 |
|
2024 |
|
2025 |
|
2024 |
|
|
$ |
|
$ |
|
$ |
|
$ |
|
|
(expressed in millions of dollars) |
|
(expressed in millions of dollars) |
||||
|
EBITDA |
71.3 |
|
59.0 |
|
133.6 |
|
123.2 |
|
Add: |
|
|
|
|
|
|
|
|
Share-based compensation |
3.0 |
|
3.6 |
|
4.5 |
|
7.1 |
|
External acquisition expenses(a) |
1.1 |
|
0.8 |
|
2.1 |
|
1.8 |
|
Change in fair value of financial instruments at fair value through profit or loss(b) |
2.3 |
|
5.3 |
|
11.1 |
|
1.4 |
|
Other corporate costs(c) |
3.5 |
|
2.4 |
|
4.9 |
|
3.4 |
|
(Gain) loss on disposal of dental practices(d) |
(0.1) |
|
2.3 |
|
0.8 |
|
2.3 |
|
Loss on disposal and impairment of property and equipment and intangible assets(e) |
0.1 |
|
— |
|
0.1 |
|
— |
|
Post-employment benefits(f) |
— |
|
— |
|
— |
|
2.3 |
|
Short-term benefits(g) |
— |
|
0.5 |
|
— |
|
0.5 |
|
Adjusted EBITDA |
81.2 |
|
73.9 |
|
157.1 |
|
142.0 |
|
Adjusted EBITDA Margin |
18.7 % |
|
18.5 % |
|
18.6 % |
|
18.4 % |
|
(a) |
Represents professional fees and other expenses paid to third parties that are incurred in connection with individual practice acquisitions and are not related to the underlying business operations of the Company. |
|
(b) |
Change in fair value of financial instruments at fair value through profit or loss includes i) change in fair value of derivative instruments, ii) change in fair value of contingent consideration, iii) change in fair value of preferred shares and iv) change in fair value of other financial liability. Change in fair value of derivative instruments represents the change in present value of the estimated future cash flows based on observable yield curves at each reporting date. Change in fair value of contingent consideration represents the change in fair value recognized related to obligations under earn-out arrangements measured on acquisition, and at each subsequent reporting date. Change in fair value of preferred shares represents the change in fair value of the Company’s investment in the Management Preferred Shares measured at each reporting date. Change in fair value of other financial liability represents the change in fair value of certain put and call options issued over the Associate Dentists’ profit rights for the Company’s De novo practices measured at each reporting periods. All of above are classified as financial assets at FVTPL, and are revalued at each reporting date and recognized in the condensed interim consolidated statements of income (loss) and comprehensive income (loss). |
|
(c) |
Represents costs associated with the implementation of new corporate technology systems, the undertaking of vendor consolidations, termination benefits and restructuring activities, and professional fees related to the settlement of the management loan program and issuance of preferred shares, executive search arrangements, other non-recurring capital market initiatives and the implementation of the CDCP. Also included are costs associated with the purchase of profit rights held by Associate dentists in the cash flows of our dental practices and losses of dental practices that were disposed of during the period. |
|
(d) |
Represents the (gain) loss on disposal of dental practices that were disposed of during the reporting period. |
|
(e) |
Represents the loss on disposal and impairment of property and equipment and intangible assets which primarily occurred upon the closure of certain dental practice locations and the subsequent disposal of leasehold improvements and equipment that could not be transferred to other dental practices. |
|
(f) |
Represents post-employment benefits provided to the Company’s former President. |
|
(g) |
Represents short-term benefits paid to the CEO in contemplation of the CEO continuing to facilitate the leadership changes announced in June 2024. |
Adjusted Free Cash Flow
“Adjusted free cash flow” is calculated by adding or subtracting from cash flow from operating activities: (a) external acquisition expenses; (b) other corporate costs; (c) post-employment benefits; (d) short-term benefits; (e) repayment of principal on leases; (f) maintenance capital expenditure; and (g) changes in working capital. We use Adjusted free cash flow to facilitate a comparison of our operating performance on a consistent basis from period to period, to provide for a more complete understanding of factors and trends affecting our business, and to determine components of employee compensation. The most comparable IFRS measure to Adjusted free cash flow is cash flow from operating activities, for which a reconciliation is provided below.
|
|
Three months ended June 30, |
|
Six months ended June 30, |
||||
|
|
2025 |
|
2024 |
|
2025 |
|
2024 |
|
|
$ |
|
$ |
|
$ |
|
$ |
|
|
(expressed in millions of dollars) |
|
(expressed in millions of dollars) |
||||
|
Cash flow from operating activities |
72.9 |
|
52.5 |
|
125.0 |
|
99.0 |
|
Adjustments: |
|
|
|
|
|
|
|
|
External acquisition expenses(a) |
1.1 |
|
0.8 |
|
2.1 |
|
1.8 |
|
Other corporate costs(b) |
3.5 |
|
2.4 |
|
4.9 |
|
3.4 |
|
Post-employment benefits(c) |
— |
|
— |
|
— |
|
2.3 |
|
Short-term benefits(d) |
— |
|
0.5 |
|
— |
|
0.5 |
|
|
77.5 |
|
56.2 |
|
132.0 |
|
107.0 |
|
Deduct: |
|
|
|
|
|
|
|
|
Repayment of principal on leases |
(6.9) |
|
(6.6) |
|
(13.9) |
|
(13.1) |
|
Maintenance capital expenditure(e) |
(7.3) |
|
(4.3) |
|
(11.6) |
|
(9.0) |
|
Changes in working capital(f) |
(17.7) |
|
(4.6) |
|
(16.6) |
|
(9.0) |
|
Adjusted free cash flow |
45.6 |
|
40.7 |
|
89.9 |
|
75.9 |
|
(a) |
Represents professional fees and other expenses paid to third parties that are incurred in connection with individual practice acquisitions and are not related to the underlying business operations of the Company. |
|
(b) |
Represents costs associated with the implementation of new corporate technology systems, the undertaking of vendor consolidations, termination benefits and restructuring activities, and professional fees related to the settlement of the management loan program and issuance of preferred shares, executive search arrangements, other non-recurring capital market initiatives and the implementation of the CDCP. Also included are costs associated with the purchase of profit rights held by Associate dentists in the cash flows of our dental practices and losses of dental practices that were disposed of during the period. |
|
(c) |
Represents post-employment benefits provided to the Company’s former President. |
|
(d) |
Represents short-term benefits paid to the CEO in contemplation of the CEO continuing to facilitate the leadership changes announced in June 2024. |
|
(e) |
Represents capital expenditures for general maintenance and safety compliance of dental practices for the reporting period. |
|
(f) |
Represents the change in non-cash working capital items for the reporting period. |
Adjusted free cash flow per Share
“Adjusted free cash flow per Share” means Adjusted free cash flow divided by the total number of Multiple Voting Shares and Subordinate Voting Shares on a fully diluted basis. Adjusted free cash flow per Share is utilized to determine components of employee compensation.
Pre-tax Adjusted Free Cash Flow
“Pre-tax Adjusted free cash flow” in respect of a period means Adjusted free cash flow less cash income tax (recovery) expense. We use Pre-tax Adjusted free cash flow to facilitate a comparison of our operating performance on a consistent basis from period to period, to provide for a more complete understanding of factors and trends affecting our business, and to determine components of employee compensation. The most comparable IFRS measure to Pre-tax Adjusted free cash flow is cash flow from operating activities.
Pre-tax Adjusted Free Cash Flow per Share
“Pre-tax Adjusted free cash flow per Share” means Pre-tax Adjusted free cash flow, divided by the total number of Multiple Voting Shares and Subordinate Voting Shares on a fully diluted basis. Pre-tax Adjusted free cash flow per Share is utilized to determine components of employee compensation.
Adjusted Net Income
“Adjusted net income” is calculated by adding to Net income (loss) and comprehensive income (loss) certain expenses, costs, charges or benefits incurred in such period which in management’s view are either not indicative of underlying business performance or impact the ability to assess the operating performance of our business, including: (a) amortization of intangible assets; (b) share-based compensation; (c) change in fair value of financial instruments at fair value through profit or loss; (d) external acquisition expenses; (e) other corporate costs; (f) (gain) loss on disposal of dental practices; (g) loss on disposal and impairment of property and equipment and intangible assets; (h) loss on settlement of other receivables; (i) impairment of right-of-use assets; (j) loss on modification of borrowings; (k) post-employment benefits; (l) short-term benefits; and (m) the tax impact of the above. We use Adjusted net income to facilitate a comparison of our operating performance on a consistent basis from period to period and to provide for a more complete understanding of factors and trends affecting our business. The most comparable IFRS measure to Adjusted net income is Net income (loss) and comprehensive income (loss), for which a reconciliation is provided below.
|
|
Three months ended June 30, |
|
Six months ended June 30, |
||||
|
|
2025 |
|
2024 |
|
2025 |
|
2024 |
|
|
$ |
|
$ |
|
$ |
|
$ |
|
|
(expressed in millions of dollars) |
|
(expressed in millions of dollars) |
||||
|
Net income (loss) and comprehensive income (loss) |
0.9 |
|
(11.9) |
|
(9.3) |
|
(23.6) |
|
Adjustments: |
|
|
|
|
|
|
|
|
Amortization of intangible assets |
22.8 |
|
27.0 |
|
52.0 |
|
53.9 |
|
Share-based compensation |
3.0 |
|
3.6 |
|
4.5 |
|
7.1 |
|
External acquisition expenses(a) |
1.1 |
|
0.8 |
|
2.1 |
|
1.8 |
|
Change in fair value of financial instruments at fair value through profit or loss(b) |
2.3 |
|
5.3 |
|
11.1 |
|
1.4 |
|
Other corporate costs(c) |
3.5 |
|
2.4 |
|
4.9 |
|
3.4 |
|
(Gain) loss on disposal of dental practices(d) |
(0.1) |
|
2.3 |
|
0.8 |
|
2.3 |
|
Loss on disposal and impairment of property and equipment and intangible assets(e) |
0.1 |
|
— |
|
0.1 |
|
— |
|
Loss on modification of borrowings(f) |
— |
|
— |
|
— |
|
2.3 |
|
Post-employment benefits(g) |
— |
|
— |
|
— |
|
2.3 |
|
Short-term benefits(h) |
— |
|
0.5 |
|
— |
|
0.5 |
|
|
33.6 |
|
30.0 |
|
66.2 |
|
51.4 |
|
Tax impact of the above |
(2.9) |
|
(3.6) |
|
(5.9) |
|
(7.3) |
|
Adjusted net income |
30.7 |
|
26.4 |
|
60.3 |
|
44.1 |
|
(a) |
Represents professional fees and other expenses paid to third parties that are incurred in connection with individual practice acquisitions and are not related to the underlying business operations of the Company. |
|
(b) |
Change in fair value of financial instruments at fair value through profit or loss includes i) change in fair value of derivative instruments, ii) change in fair value of contingent consideration, iii) change in fair value of preferred shares and iv) change in fair value of other financial liability. Change in fair value of derivative instruments represents the change in present value of the estimated future cash flows based on observable yield curves at each reporting date. Change in fair value of contingent consideration represents the change in fair value recognized related to obligations under earn-out arrangements measured on acquisition, and at each subsequent reporting date. Change in fair value of preferred shares represents the change in fair value of the Company’s investment in the Management Preferred Shares measured at each reporting date. Change in fair value of other financial liability represents the change in fair value of certain put and call options issued over the Associate Dentists’ profit rights for the Company’s De novo practices measured at each reporting periods. All of above are classified as financial assets at FVTPL, and are revalued at each reporting date and recognized in the condensed interim consolidated statements of income (loss) and comprehensive income (loss). |
|
(c) |
Represents costs associated with the implementation of new corporate technology systems, the undertaking of vendor consolidations, termination benefits and restructuring activities, and professional fees related to the settlement of the management loan program and issuance of preferred shares, executive search arrangements, other non-recurring capital market initiatives and the implementation of the CDCP. Also included are costs associated with the purchase of profit rights held by Associate dentists in the cash flows of our dental practices and losses of dental practices that were disposed of during the period. |
|
(d) |
Represents the (gain) loss on disposal of dental practices that were disposed of during the reporting period. |
|
(e) |
Represents the loss on disposal and impairment of property and equipment and intangible assets which primarily occurred upon the closure of certain dental practice locations and the subsequent disposal of leasehold improvements and equipment that could not be transferred to other dental practices. |
|
(f) |
Represents the loss on modification of the Company’s outstanding credit facilities upon entering into an amended and restated credit agreement. |
|
(g) |
Represents post-employment benefits provided to the Company’s former President. |
|
(h) |
Represents short-term benefits paid to the CEO in contemplation of the CEO continuing to facilitate the leadership changes announced in June 2024. |
Contacts
For investor inquiries, please contact:
Investor Relations
Nick Xiang
Vice President, Corporate Finance
[email protected]
(416) 558-8338 x 866
Media
Sebastien Bouchard
Vice President, Corporate Communications
[email protected]
(437) 216-0733
