PharmaCorp Announces Fourth Quarter and Fiscal Year 2025 Financial Results

Fourth quarter 2025 revenue up 75% compared to the fourth quarter 2024
Fourth quarter 2025 gross profit increased 78% compared to the fourth quarter 2025
Fourth quarter same-store sales up 6% and same-store prescription sales up 3.8 %, supplementary financial measures, both compared to fourth quarter 2025

SASKATOON, Saskatchewan, April 29, 2026 (GLOBE NEWSWIRE) -- PHARMACORP RX INC. (“PharmaCorp” or the “Corporation”) (TSXV: PCRX) a Canadian pharmacy acquisition and ownership platform for pharmacist-led community pharmacy ownership, today reported its financial results for fourth quarter and year ended December 31, 2025.

“Our financial results reflect our steady progress in scaling the business through disciplined M&A, the successful integration of recently acquired stores, and the operational excellence of our pharmacies,” said Alan Simpson, Executive Chairman of PharmaCorp. “Looking ahead, the ongoing interest from independent pharmacy owners considering their succession options continues to fuel the expansion of our unique pipeline of M&A opportunities across Canada. We remain confident in our ability to further scale our business through accretive transactions in fiscal 2026 as we work towards building a national platform.”

Fourth Quarter 2025 and Fiscal Year 2025 Financial Highlights

Fourth quarter 2025 revenue of $7.7 million compared to $4.4 million in the fourth quarter of 2024, representing an increase of 75 %. Fiscal year 2025 revenue of $20.9 million compared to $5.8 million in 2024.
Fourth quarter 2025 gross profit of $2.9 million compared to $1.7 million in the fourth quarter of 2024 with margins of 39% and 38% respectively. Fiscal year 2025 gross profit of $8.3 million compared to $2.2 million in 2024.
Fiscal year 2025 Adjusted EBITDA, a Non-IFRS Financial Measure, of $3.5 million compared to $0.85 million in 2024.
Revenues, gross profit and Adjusted EBITDA were higher year-over-year for the quarterly and annual periods due to increases in prescription volumes and front-of-store sales and owning more pharmacies in the fourth quarter of 2025 and fiscal 2025 versus the prior-year periods.
Fourth quarter same-store sales, a supplementary financial measure, increased 6% compared to the fourth quarter of 2024, reflecting continued organic growth across PharmaCorp’s pharmacy network.
Fourth quarter same-store prescription sales continued to grow, with total script count rising 3.8% compared to the fourth quarter of 2024, demonstrating sustained patient engagement and activity across the network.
Fourth quarter 2025 net loss of $0.64 million compared to $0.72 million in the fourth quarter of 2024, representing a decrease of 11%. Fiscal year 2025 net loss of $1.4 million compared to $1.1 million in 2024. Net loss was higher year-over-year for the annual periods due to expenses related to the Corporation’s credit agreement and charter purchase.
As of December 31, 2025, the Corporation had cash of $25.9 million compared to $12.9 million at the end of 2024.

Operational Highlights

On October 2, 2025, PharmaCorp announced the acquisition of two pharmacies located in Western Canada, one of which includes the associated land and building, and announced that it purchased a pharmacy located in Eastern Canada. The three pharmacies are performing as anticipated, and the integration of the two Western Canada pharmacies is going as planned.
On November 12, 2025, PharmaCorp announced the closing a bought deal public offering for gross proceeds of approximately $23 million.
On December 1, 2025, PharmaCorp announced the appointment of Paul Dale as President and Chief Operating Officer.

Further Information

For comprehensive disclosure of PharmaCorp’s financial performance for the fourth quarter and year ended December 31, 2025, and its financial position as at such date, please see PharmaCorp’s Consolidated Annual Financial Statements and related Management’s Discussion and Analysis for the fourth quarter and year ended December 31, 2025, filed on SEDAR+ at www.sedarplus.ca.

Supplementary Financial Measures

This news release also makes reference to "same-store sales”, and “same-store prescription sales” which are supplementary financial measures. “Same-store sales” is defined as sales from pharmacy locations owned and operated by PharmaCorp as at the current reporting period end and historical sales information from the pharmacies operating systems. “Same-store prescription sales” is defined as sales derived from products requiring a prescription from a medical professional at pharmacy locations owned and operated by PharmaCorp as at the current reporting period end and historical sales information from the pharmacies operating systems. Both metrics are used to provide investors with a supplemental measure of the Corporation’s operating performance and thus highlight trends in its core business that may not otherwise be apparent when relying solely on IFRS financial measures.

Management uses supplementary financial measures such as same-store sales and same-store prescription sales in order to facilitate operating performance comparisons from period to period. Management also believes that supplementary financial measures are meaningful to investors because they enable investors to better understand the level of growth of our business. The Corporation cautions readers that same-store sales and same-store prescription sales used in this news release may not be comparable to similar measures used by other issuers.

Non-IFRS Financial Measures

Management uses both IFRS and Non-IFRS Financial Measures to assess the financial and operating performance of PharmaCorp’s operations. Non-IFRS Financial Measures are not recognized measures under IFRS, do not have a standardized meaning under IFRS, are unlikely to be comparable to similar measures presented by other companies and the Corporation’s definitions of Non-IFRS Financial Measures likely differ from that of other companies. Non-IFRS Financial Measures should not be considered in isolation or as a substitute for financial measures of performance prepared in accordance with IFRS. These Non-IFRS Financial Measures are provided as supplemental information to assist readers in understanding the Corporation’s financial results and should not be relied upon as an alternative to IFRS financial measures.

The Non-IFRS Financial Measures referenced in this press release include the following:

Adjusted EBITDA (Pre-IFRS 16, 4-Wall basis) is defined as 100% Store-Level Net Income, adjusted for depreciation and amortization, interest on long-term debt, lease interest, other adjustments, and reduced by actual lease payments.

Adjusted EBITDA should not be viewed as an alternative to, in isolation from, or superior to Net income (its most directly comparable IFRS financial measure), or other measures calculated in accordance with IFRS. Adjusted EBITDA should not be interpreted as an indicator of cash generated from operating activities and is not indicative of cash available to fund operating expenditures, or for the payment of cash distributions. Management believes that Adjusted EBITDA is a useful Non-IFRS Financial Measure because it provides an indication of the results generated by the Corporation’s principal business and operating activities prior to consideration of how those activities are financed, how assets are depreciated and amortized, or how the results are taxed in various jurisdictions, and before certain non-cash and non-recurring items. Management also uses Adjusted EBITDA to evaluate operating performance and to prepare annual operating budgets.

The following table provides a quantitative reconciliation of Net income, the most directly comparable IFRS measure, to Adjusted EBITDA for the periods indicated:

Adjusted Pre-IFRS 16 4 WALL EBITDA

About PharmaCorp Rx Inc.

PharmaCorp is a Canadian pharmacy acquisition and ownership platform focused on empowering pharmacists as equity partners and supporting succession for retiring pharmacy owners. Through a combination of capital, strategic support, and operational expertise, PharmaCorp is building a national network of community pharmacies under the PharmaChoice Canada banner. PharmaCorp currently operates six PharmaChoice Canada bannered pharmacies, reflecting the integration of the two Western Canada locations acquired on October 1, 2025, and will continue to acquire both PharmaChoice Canada bannered and independent pharmacies across Canada, rebranding non-bannered locations under the PharmaChoice Canada platform in accordance with its strategic alliance with PharmaChoice Canada. PharmaCorp shares trade on the TSX Venture Exchange under the symbol: PCRX.

PharmaCorp actively welcomes discussions with pharmacy owners considering succession or sale. For more information about our acquisition program and process, please visit www.PharmaCorpRx.ca or contact our team confidentially. We are committed to seamless transitions that protect your legacy and serve your community.

For further information, please contact:

Investor Relations
info@pharmacorprx.ca
Tel: (306) 536-3771

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Forward-Looking Information: This news release contains “forward-looking information” regarding the Corporation within the meaning of applicable Canadian securities legislation. All statements, other than statements of historical fact, included herein are forward-looking information. In particular, this news release contains forward-looking information in relation to: the Corporation’s continued operational performance including the Corporation’s steady progress in scaling the business through disciplined M&A, the successful integration of recently acquired stores, the operational excellence of its pharmacies and the Corporation’s confidence in its ability to further scale its business through accretive transactions in fiscal 2026 as its works towards building a national platform; the ongoing interest from independent pharmacy owners considering their succession options continuing to fuel the expansion of the Corporation’s pipeline of M&A opportunities across Canada; the Corporation’s focus on empowering pharmacists as equity partners and supporting succession for retiring pharmacy owners; the Corporation’s strategy of building a national network of community pharmacies under the PharmaChoice Canada banner through a combination of capital, strategic support, and operational expertise; the Corporation’s intention to continue to acquire both PharmaChoice Canada bannered and independent pharmacies across Canada, rebranding non-bannered locations under the PharmaChoice Canada platform in accordance with its strategic alliance with PharmaChoice Canada. This forward-looking information reflects current beliefs and is based on information currently available to the management of the Corporation and on assumptions the Corporation believes are reasonable. These assumptions include, but are not limited to: the completion of previously announced acquisitions; market acceptance of previously announced acquisitions; the ongoing interest from independent pharmacy owners considering succession options; the volume of acquisition opportunities presented to the Corporation being equal to or greater than historical volumes; and the continued supply of pharmacies for purchase by the Corporation at prices satisfactory to the Corporation and the ability of the Corporation to acquire such pharmacies. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Corporation to be materially different from those expressed or implied by such forward-looking information. Such risks and other factors may include, but are not limited to: general business, economic, competitive, political and social uncertainties; general capital market conditions and market prices for securities; delay or failure to receive board of directors, third party or regulatory approvals; competition; changes in legislation, including pharmacy regulation, affecting the Corporation; the timing and availability of external financing on acceptable terms; conclusions of economic evaluations and appraisals; and lack of qualified, skilled labour or loss of key individuals. A description of additional risk factors that may cause actual results to differ materially from forward-looking information can be found in the Corporation’s disclosure documents on the SEDAR+ website at www.sedarplus.ca. Although the Corporation has attempted to identify important risks and factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. Readers are cautioned that the foregoing list of factors is not exhaustive. Readers are further cautioned not to place undue reliance on forward-looking information as there can be no assurance that the plans, intentions or expectations upon which they are placed will occur. Forward-looking information contained in this news release is expressly qualified by this cautionary statement. The forward-looking information contained in this news release represents the expectations of the Corporation as of the date of this news release and, accordingly, is subject to change after such date. However, the Corporation expressly disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities law.

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A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/8320f2ec-cdf5-4bc6-b283-0ee470d32539

Adjusted Pre-IFRS 16 4 WALL EBITDA

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