2026-05-06, 5:24:51 p.m.
Toronto, Ontario — May 6, 2026 — Leads & Copy —
CareRx Corporation (TSX: CRRX), Canada’s leading provider of pharmacy services to seniors living and other congregate care communities, has released its financial results for the first quarter ended March 31, 2026.
The company reported that Average Beds Serviced increased to 92,036 in Q1 2026 from 87,675 in Q1 2025, but was slightly lower than the 92,250 in Q4 2025. Revenue rose to $93.9 million in Q1 2026, compared to $89.6 million in Q1 2025, but was also slightly lower than the $96.1 million in Q4 2025.
Adjusted EBITDA increased to $8.4 million in Q1 2026 from $7.8 million in Q1 2025, but was lower than the $8.8 million in Q4 2025. The Adjusted EBITDA Margin increased to 9.0% for Q1 2026, compared to 8.7% in Q1 2025, and was slightly lower than the 9.2% in Q4 2025. Cash from Operations decreased to $6.9 million in Q1 2026, compared to $7.4 million in Q1 2025 and $9.6 million in Q4 2025.
According to Puneet Khanna, President and Chief Executive Officer, the first quarter results reflect the strength of the platform built through operational discipline and targeted investment. Khanna added that with Ontario long-term care funding now stable, the company’s focus will turn to driving meaningful growth.
The Ontario Ministry of Health announced that the current funding rate of $1,500 per licensed long-term care bed per year will be maintained for 2026-2027 and on an ongoing basis. The Ministry also confirmed that the previously scheduled reduction in the fee-per-bed rate—from $1,500 to $1,200 per bed per year—will no longer be implemented. In addition, the Ministry announced changes to the treatment of unoccupied licensed beds for funding purposes, including the removal of funding for certain unoccupied ward beds.
The company estimates that the removal of funding for unoccupied ward beds will result in a reduction of up to $2 million in capitation fees in 2026. The financial impact remains uncertain, as it is dependent on factors, including the pace and extent of bed redevelopment by LTC operators. CareRx is evaluating mitigation strategies to offset the net impact of these changes and remains focused on working with the Ontario Government on priorities in enhancing long-term care.
The Company’s Board of Directors has declared a dividend of CAD$0.02 per outstanding common share, payable on July 9, 2026, to holders of record of common shares as of the close of business on June 23, 2026.
The company will host a conference call on May 7, 2026, at 8:30 a.m. Eastern Time to discuss the financial results. A live webcast will be available on the Events and Presentations page of the Company’s website and can be accessed at https://www.gowebcasting.com/14668. The webcast will be archived for 90 days on the Events and Presentations page of the Investors section of the Company’s website.
CareRx is Canada’s provider of pharmacy services to seniors living and other congregate care communities (long-term care homes, retirement homes, assisted living facilities and group homes). It is a national organization with a network of pharmacy fulfillment centers and uses technology that automates the preparation and verification of multi-dose compliance packaging of medication.
Source: CareRx Corporation
