Skylight Health Group Inc.

09:51 AM EST - Skylight Health Group Inc. : Reported its earnings for fiscal Q3 2020 for the period ended September 30, 2020. Gross revenues came in at $3.3 million with a robust gross margin of 71%. Revenue does not include contribution from recently announced acquisitions. Adjusted EBITDA earnings of $331,122, representing its second consecutive quarter of positive Adjusted EBITDA. Year-to-date Adjusted EBITDA profitability of $108,894 compared to an Adjusted EBITDA loss of $1.87 million in YTD Q3 2019. Subsequent to the quarter end, extinguished all long-term debt and strengthened its balance sheet with approximately $10 million of cash. Following an industry-wide initial reduction of visits in March 2020 due to the COVID-19 pandemic, Skylight Health has continued to see growth in patient visits and registrations, while ongoing improvements to its business model and operating structure have led to reduced costs for delivery of services. Skylight Health Group Inc. shares C.SHG are trading up 9.33 percent at $0.82.