Jack Nathan Health Announces Its Q1 Fiscal 2026 Financial Results

TORONTO--(BUSINESS WIRE)-- Jack Nathan Medical Corp. (TSXV: JNH, OTCQB: JNHMF) (“Jack Nathan Health”, “JNH” or the “Company”) announced today its unaudited interim consolidated financial results for the first quarter of fiscal 2026, three months ended April 30, 2025. Jack Nathan Health’s financial statements are prepared in accordance with International Financial Reporting Standards (“IFRS”).

Management Commentary

Mike Marchelletta, Chief Executive Officer, commented:

“Q1 represented a transitional period for Jack Nathan Health following the divestiture of our Canadian medical clinic and licensee business in December 2024. Our focus is now on building a sustainable MedSpa platform in Canada. We expect revenue contributions from MedSpa to grow in the upcoming quarters as our clinics continue to mature and gain customer traction.”

Disclosure Regarding Filing Timing

As previously disclosed, the Company deferred filing its audited annual financial statements, MD&A, and related CEO and CFO certifications for the fiscal year ended January 31, 2025, to July 11, 2025. The delay was primarily due to the extended audit process as well as operational restructuring, resource realignment, and transition impacts following the divestiture of Canadian primary care operations and the winding down of Mexico operations.

In addition, the Company was unable to file its Q1 fiscal 2026 interim financial statements, MD&A, and related CEO and CFO certifications for the three months ended April 30, 2025, by the prescribed filing deadline of June 30, 2025. The delay was due to the same transitional factors noted above. The Company is pleased to confirm that the Q1 filings have now also been completed within the permitted 90-day period, and all required documents are available on SEDAR+.

Financial Highlights for the three months ended April 30, 2025

Operating Results

	Three months ended April 30
	2025	2024
	$	$
Revenues	1,990,101	2,079,867
Operating expenses	(2,821,060)	(2,764,803)
Loss from operations	(830,959)	(684,936)

For the three months ended April 30, 2025, total consolidated revenues from continuing operations were $1.99 million, compared to $2.08 million in the same period last year, representing a decrease of 4%. The decrease was primarily attributable to transitional impacts following the sale of the Canadian medical clinic and licensee operations on December 1, 2024, as the Company continued to realign resources toward its MedSpa business.

MedSpa revenues were $185,259, accounting for 9% of total revenues, compared to $207,002 or 10% in the prior year period. The decline of 11% year-over-year reflects the transitional phase following restructuring, although management expects MedSpa revenues to increase in subsequent quarters as the clinics mature.

Note on Mexico Operations:

The Q1 2026 financial statements reflect the Mexico clinic operations as part of continuing operations, as these locations were active through April 30, 2025. However, subsequent to the period, all operations in Mexico were fully ceased as of June 30, 2025 following the formal termination of the Company’s agreement with Walmart Mexico. As such, the Mexico division is no longer part of Jack Nathan Health’s active business going forward.

Balance Sheet as of April 30, 2025

• Cash of $0.91 million (January 31, 2025 - $2.2 million)
• Total assets of $2.65 million (January 31, 2025 - $3.54 million)
• Total liabilities of $2.45 million (January 31, 2025 - $2.22 million)

Shares Outstanding

As of April 30, 2025, the Company had 87,099,159 common shares outstanding, 1,300,000 stock options outstanding and 335,004 DSUs outstanding.

For further information regarding the Company’s financial results for fiscal year ended January 31, 2025, please refer to the audited annual consolidated financial statements of the Company as at and for the 12 months ended January 31, 2025 together with the corresponding MD&A, available at www.sedarplus.ca and the JNH website https://www.jnhmexico.com

About Jack Nathan Medical Corp.

Jack Nathan Health^® is a provider of MedSpa services in Canada and a former operator of one of the largest retail medical clinic networks in North America. Established in 2006 the Company expanded its international footprint, delivering exceptional, state-of-the-art, turn-key medical centers in 253 locations globally, with 193 corporately owned and operated. In Canada, the Company grew to 82 locations, including 80 clinics in Walmart locations in British Columbia, Alberta, Saskatchewan, Manitoba, Ontario, and Quebec and 2 independent locations, with 22 corporate owned and operated clinics of which 3 included Rehab services and 6 included MedSpa services. In Mexico, the Company grew to 171 corporate owned clinics across Mexico within 3 divisions, including 165 retail clinics, 5 clinics inside Walmart Distribution Centers servicing Walmart Associates, and 1 multidisciplinary clinic. In December 2024, Jack Nathan Health restructured its Canadian medical operations through an asset sale to Well Health Technologies Corp. Following the exit from its Walmart Mexico operations in May 2025, the Company continues to operate its Canadian MedSpa clinics and is actively evaluating strategic opportunities for its future business in Canada, Mexico & USA.

For more information, visit www.jnhmexico.com or www.sedarplus.ca.

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

Appendix:

Certain statements contained in this press release constitute "forward-looking information" as such term is defined in applicable Canadian securities legislation. The words "may", "would", "could", "should", "potential", "will", "seek", "intend", "plan", "anticipate", "believe", "estimate", "expect" and similar expressions as they relate to Jack Nathan are intended to identify forward- looking information. All statements other than statements of historical fact may be forward- looking information. Such statements reflect the Company's current views and intentions with respect to future events, and current information available to them, and are subject to certain risks, uncertainties, and assumptions Many factors could cause the actual results, performance or achievements that may be expressed or implied by such forward-looking information to vary from those described herein should one or more of these risks or uncertainties materialize. Such factors include but are not limited to: changes in economic conditions or financial markets; increases in costs; litigation; legislative and other judicial, regulatory, political, and competitive developments; and operational difficulties. This list is not exhaustive of the factors that may affect forward-looking information. These and other factors should be considered carefully, and readers should not place undue reliance on such forward- looking information. Should any factor affect the Company in an unexpected manner, or should assumptions underlying the forward-looking information prove incorrect, the actual results or events may differ materially from the results or events predicted. Any such forward-looking information is expressly qualified in its entirety by this cautionary statement. Moreover, the Company does not assume responsibility for the accuracy or completeness of such forward- looking information. The forward-looking information included in this press release is made as of the date of this press release and the Company undertakes no obligation to publicly update or revise any forward- looking information, other than as required by applicable law.

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Jack Nathan Medical Corp., Mike Marchelletta, Chief Executive Officer, (647)-488-5008

Source: Jack Nathan Medical Corp.