Revenue

+83% (from 17,417K in Q1 2024 to 31,975K in Q1 2025)

Revenue surged dramatically driven primarily by the integration of new revenue streams—most notably from the acquisition of Greenbrook—which significantly increased clinic and related revenues relative to the lower base in Q1 2024. " "

Cost of Revenues

Increased from 4,329K to 16,237K

Cost of revenues surged alongside the revenue increase, largely due to the incorporation of higher cost structures associated with Greenbrook’s clinic operations, causing a dramatic decline in gross margin from approximately 75% to 49% compared to Q1 2024. " "

Operating Loss

Widened from 6,859K to 11,014K

Operating loss expanded as increased operating expenses—including higher general, administrative, and R&D costs tied to the new acquisition—exacerbated losses despite the revenue boost, reflecting the cost pressures of integrating the added clinic business. " "

Net Loss

Deepened from 7,873K to 12,689K

Net loss grew significantly due to the larger operating losses and cost increases; however, net loss per share improved from -0.27 to -0.21 because the weighted average shares outstanding nearly doubled (from 29,472K to 61,465K), indicating substantial share dilution. " " "

Total Cash, Cash Equivalents & Restricted Cash

Increased modestly from 19,459K to 21,224K

Total cash saw a slight increase primarily as a result of robust financing activities contributing 18,977K, which helped offset the operating cash outflows, despite the overall financial pressures and higher costs incurred in Q1 2025 relative to Q4 2024. " "