Nova Leap Health Reports Record Financial Results in the Third Quarter of 2026
Key Facts
Nova Leap Health announced on November 10 results for the quarter ended September 30, 2026, reporting record quarterly revenue of $9,531,140. The company said revenue increased 15.3% from the third quarter of 2025, when it was $8,264,326. Organic growth was 8.2% year over year, meaning some of the revenue increase came from growth in existing operations. Income from operating activities also rose to $645,562, up 54.2% from $418,553 in the comparable period. The company said all amounts are in U.S. dollars unless otherwise stated.
Adjusted EBITDA rose to $860,804 in the quarter, compared with $670,706 a year earlier, an annual increase of 28.3%. Growth in this measure outpaced revenue growth of 15.3%, while the gross margin edged up to 39.9% from 39.6% in the third quarter of 2025. The company said Adjusted EBITDA for the first nine months of 2026 had already exceeded the full-year 2025 result by 11.3%. Revenue for the 12 months from October 1, 2025, to September 30, 2026, was $34,864,119. Adjusted EBITDA for the same trailing period reached $2,785,448, the record figure the company cited for the period, not for the quarter alone.
Net income did not keep pace with the improvement in revenue and operating income: the company reported $333,771 in the third quarter of 2026, compared with $426,171 in the same period a year earlier. The company defines Adjusted EBITDA as income from operating activities plus amortization, depreciation and share-based compensation expense. It also cautions that this measure is not standardized under International Financial Reporting Standards. Nova Leap provides home and community care services in North America, including personal care, dementia care, companionship, care management and palliative care.
The company had $1,941,275 in cash available on September 30, 2026, and also had its full, unused revolving credit facility of US$1,057,231, equivalent to C$1,500,000. Principal on demand loans and promissory notes totaled $3,361,493 on the same date. The company put its debt-to-Adjusted EBITDA ratio for the 12 months at 1.21 times. The chief executive said the company generated about $500,000 in free cash flow in each of the second and third quarters, excluding mergers and acquisitions. This places available cash and credit alongside outstanding debt obligations in the context of the company's expansion plans.
Management said the company had launched care management and palliative care services, while private nursing is planned for a later launch. The company's capital allocation strategy, it said, includes investing in existing operations to support organic growth, opening new locations and pursuing acquisitions at disciplined valuations. It said that, as of the date of its statement, up to $3,050,000 was available to fund acquisitions through its existing credit agreement. The chief executive said expansion into new services was part of business development efforts, with private nursing remaining in future plans. The statement did not specify a launch date for the service. The company thus links the development of its existing operations with geographic expansion and acquisitions in its capital allocation.