Friday, November 12, 2021

Newtopia Inc. - NEWU.v

Newtopia Inc. - NEWU.v works closely with organizations and their employees to deliver highly personalized and targeted disease prevention solutions that are proven to reduce employer healthcare costs. Newtopia delivers sustainable clinical and financial outcomes.

On November 10, 2021 the company released Numbers

"Newtopia Inc. ("Newtopia" or the "Company") (TSXV: NEWU) (OTCQB: NEWUF), a tech-enabled habit change provider focused on disease prevention, today reported financial results for the third quarter 2021. All amounts are expressed in Canadian dollars, unless otherwise noted.

Newtopia logo (CNW Group/Newtopia Inc.)

Third Quarter 2021 Financial Highlights (vs. Q3 2020):

  • Revenue of $2.9 million, as compared to $2.4 million.
  • Gross profit margin1 of 50%, relatively consistent with the prior-year period.

"Newtopia experienced strong growth in the third quarter as a result of the successful rollout of a Fortune 50 health services client and the evolution towards more normalized pandemic-related operating procedures for our US clients. The return to top-line growth was anticipated following the significant enrollments during the second quarter that carried over into the third quarter. We continue to anticipate that the second-half of this year will see improvement over the first two quarters," said Jeff Ruby, Founder and CEO of Newtopia. "Gross margins also improved sequentially in the third quarter, totaling approximately 50% of revenue as recurring subscription revenue increased as a percentage of the total mix. Our successful participant rollouts over the summer brought our total third quarter engagements to a company record of 37,000."