PharmaCorp Rx Inc. Announces First Quarter 2026 Financial Results

• First quarter 2026 revenue up 79.4% compared to the first quarter of 2025
• First quarter 2026 gross profit increased 71.9% compared to the first quarter of 2025
• First quarter same-store sales were up 7.3%, and same-store prescription sales were up 7.2%, both compared to the first quarter of 2025

SASKATOON, Saskatchewan, June 01, 2026 (GLOBE NEWSWIRE) — PHARMACORP RX INC. (“PharmaCorp” or the “Corporation”) (TSXV: PCRX) a Canadian pharmacy services and consolidation platform, today reported its financial results for the first quarter ended March 31, 2026.

“We further scaled our business in the first quarter by successfully integrating our recent pharmacy acquisitions, and advancing our unique and expanding pipeline of additional M&A opportunities,” said Alan Simpson, Executive Chairman of PharmaCorp. “We believe our growth demonstrates that our focus on preserving the legacy and community role of independent pharmacies, coupled with our operational, financial, and strategic expertise, is resonating within the industry in Canada.”

First Quarter 2026 Financial Highlights

• First quarter 2026 revenue of $7.2 million compared to $4.0 million in the first quarter of 2025, representing an increase of 79.4%.
• First quarter 2026 gross profit of $2.8 million compared to $1.6 million in the first quarter of 2025 with margins of 38.8% and 40.5% respectively.
• First quarter 2026 Adjusted EBITDA (Pre-IFRS 16, 4-Wall basis)¹ , a Non-IFRS Financial Measure, of $0.9 million compared to $0.7 million in the first quarter of 2025, representing an increase of 30.1%.
• Revenues, gross profit and Adjusted EBITDA, a Non-IFRS Financial Measure, were higher year-over-year due to increases in prescription volumes and front-of-store sales, and owning more pharmacies in the first quarter of 2026 versus the prior-year period. These metrics were slightly lower compared to the fourth quarter of 2025 due to seasonality factors such as peak season for cold and flu, and COVID-19 vaccination ramp-ups that tend to strengthen the fourth quarter across the industry.
• Same-store sales, a Supplementary Financial Measure, increased 7.3% year-over-year compared to the first quarter of 2025, reflecting continued organic growth across PharmaCorp’s pharmacy network.
• Same-store prescription sales, a Supplementary Financial Measure, increase of 7.2% year-over-year compared to the first quarter of 2025, demonstrating sustained patient engagement and activity across the network.
• First quarter 2026 net loss of $0.09 million compared to net income of $0.22 million in the first quarter of 2025. Net loss increased year-over-year for the quarterly period due to additional employee compensation in the first quarter of 2026 compared to 2025, along with a shift in annual payments in 2025 compared to 2026.
• As of March 31, 2026, the Corporation had cash of $23.4 million compared to $25.9 million at December 31, 2025.

Operational Highlights

• Continued the successful integration of the three community pharmacy businesses acquired in October 2025. The pharmacies performed as expected in the first quarter of 2026 and the integration is proceeding as anticipated.
• Subsequent to quarter end, announced that it entered into definitive share purchase agreements to acquire a 100% interest in eight PharmaChoice Canada bannered pharmacies located in Eastern Canada. This acquisition is on track to close towards the end of June 2026.
• Subsequent to quarter end, announced the completion of its acquisition of the prescription files, patient records and related operational data of a pharmacy located in the same community as one of PharmaCorp’s existing PharmaChoice-bannered pharmacies in Western Canada.
• Subsequent to quarter end, announced it entered into a definitive share purchase agreement to acquire a 100% interest in a PharmaChoice Canada bannered pharmacy located in Ontario.

For comprehensive disclosure of PharmaCorp’s financial performance for the first quarter ended March 31, 2026, and its financial position as at such date, please see PharmaCorp’s Consolidated Interim Financial Statements and related Management’s Discussion and Analysis for the first quarter ended March 31, 2026, 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:

1. 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 EBITDA (Pre-IFRS 16, 4-Wall basis) 

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 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 focus on preserving the legacy and community role of independent pharmacies, coupled with its operational, financial, and strategic expertise, resonating within the pharmaceutical industry in 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 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.

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/08a43f69-cfbf-44eb-82c0-cade289560bd