Q3 2024 Newtopia Inc Earnings Call Transcript

Nov 27, 2024 / 10:00 PM GMT

Release Date Price: $0.0056

Transcript

Key Points

Positve

Newtopia Inc (NEWUF) has formed a strategic partnership with a new supplemental insurance provider, expanding its business channel and offering its habit change platform as a fully covered benefit starting in 2025.
The company has secured key client renewals and expanded contracts with existing clients, including Fortune 500 and Fortune 10 companies, demonstrating high engagement rates and clinically significant outcomes.
Newtopia Inc (NEWUF) is actively developing partnerships with clinical discovery and health AI leaders to leverage its habit change capabilities and data set for advancing clinical trials and novel drug development.
The company has achieved significant milestones, such as the completion of a 12-month whole health coaching project, which has delivered best results to date for provider-referred participants.
Operational enhancements and cost structure improvements are paving the way towards profitability in 2025, with a focus on delivering exceptional health outcomes and securing new business opportunities.

Negative

Q3 2024 revenue for Newtopia Inc (NEWUF) declined to 1.0 million CAD from 2.4 million CAD in the prior year period, primarily due to the loss of a client and structural incentive changes at an existing client.
The company reported an EBITDA loss of 987,000 CAD for Q3 2024, driven by topline headwinds, compared to a gain of 21,000 CAD in the prior year.
Despite operational improvements, the company continues to face challenges in offsetting revenue declines and achieving cash flow positivity.
There is uncertainty regarding potential policy changes in the US that could impact Newtopia Inc (NEWUF)'s business, as the new government administration focuses on tackling chronic lifestyle diseases.
The company is carrying excess health coaching capacity, which may impact short-term financial performance, although it positions Newtopia Inc (NEWUF) for future opportunities.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

NEWU.V - Newtopia Inc
Q3 2024 Newtopia Inc Earnings Call
Nov 27, 2024 / 10:00PM GMT

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Presentation
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Unidentified_1 [1]
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Good afternoon, ladies and gentlemen and welcome to Utopia Incorporated's third quarter, 2024 earnings call at this time. All lines are in listen-only mode. If at any time during this call, you require immediate assistance. Please press star zero for the operator. This call is being recorded on Wednesday 27th of November 2024.

I would now like to turn the conference over to MS Ricky Benny, senior Vice President of experience and operations. Please go ahead.

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Unidentified_2 [2]
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Good evening and welcome to Newtopia's third quarter, 2024 earnings conference call.

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