ARCpoint Announces Conference Call for 2024 Q3 Financial Results and Corporate Update

ARCpoint Inc. (TSXV: ARC) will hold a conference call at 12:30 PM Eastern Time on December 5, 2024. The purpose of this call is to review the financial results for the third quarter of 2024, which ended on September 30, 2024. During the call, the Company will also discuss new opportunities that have emerged following its transaction with Any Lab Tests Now and the establishment of CRESSO Brands, LLC.

The dial-in information for the conference call will be provided ahead of the date. Callers are encouraged to join the call 5 to 10 minutes prior to the start time.

John Constantine, the President and CEO of ARCpoint, stated, "With CRESSO now fully operational, we are focused on integrating the Any Lab Tests Now locations onto our MyARCpointLabs technology platform. This integration is expected to positively influence our financial performance as we expand our service offerings."

ARCpoint's collaboration with Any Lab Tests Now, announced on August 20, 2024, led to the creation of CRESSO Brands, LLC, a joint venture that merges the franchise operations of both companies. Any Lab Tests Now, which operates out of Atlanta, Georgia, has over 235 locations providing various lab testing services. When combined with approximately 135 ARCpoint locations, CRESSO forms the largest franchise network of its kind in the United States.

Mr. Constantine highlighted that integrating CRESSO locations with their technology will enhance service delivery for health and wellness practitioners, allowing for better customer engagement and outreach.

For the quarter ending September 30, 2024, ARCpoint reported total revenues of $1.2 million, down from $1.6 million in the same quarter of 2023. This decline was mainly due to the loss of royalty and franchising revenue linked to the CRESSO transaction.

Despite this, the Company posted a net income of $5.2 million for the quarter, a significant improvement from a net loss of $1.5 million during the same period a year earlier. The rise in net income was primarily attributed to gains from the CRESSO transaction, which saw ARCpoint deconsolidate its franchise group and report its interest in CRESSO as an equity investment.

Looking ahead, ARCpoint anticipates that the expansion of its technology platform, combined with the newly integrated services, will create a robust healthcare network, therefore driving future growth.

The financial results for the nine months ending September 30, 2024, also reflect similar trends, with revenues decreasing slightly compared to the previous year, but overall financial performance improving due to operational efficiencies and decreased costs.

Investors and interested parties are encouraged to review the financial statements and management discussions available on the Company’s profile at www.sedarplus.ca for additional insights.

About ARCpoint: ARCpoint Inc. is a US-based healthcare company leveraging technology with physical locations to provide straightforward access to healthcare information and services. They aim to foster a proactive and preventive approach in health and wellness management for both businesses and individual consumers.

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