07:39 AM EDT, 03/22/2024 (MT Newswires) -- Dentalcorp Holdings Ltd. ( DNTCF ) , Canada's largest and one of North America's fastest-growing networks of dental practices, on Friday reported a fourth-quarter net loss of $35.2 million, or $0.19 per share, as compared with net income of $6.6 million, or $0.04 per share, a year earlier.

A sole analyst polled by Capital IQ expected a loss of $0.05.

Revenue for the quarter ended Dec. 31, 2023, was $362.2 million, up from $331 million a year earlier. Analysts surveyed by Capital IQ expected $361.3 million.

Adjusted EBITDA for Q4 was $65.8 million, up from $60.6 million a year ago.

Adjusted net income for the quarter was $0.1 million, as compared with $48.9 million a year earlier.

For the first quarter, revenue is estimated to increase by 4.5% to 5% over the first quarter of 2023 ($374 million to $376 million) along with Same Practice Revenue Growth of 2% to 2.5%, as the company laps a "strong" Q1 2023 that saw record volumes from a rebound due to a heavy flu season at the end of 2022.

Adjusted EBITDA Margins for Q1 are expected to be consistent with 2023, the company said.

For the full year of 2024, revenue is estimated to increase by 9.5% to 10.5% over fiscal 2023 ($1.56 billion to $1.58 billion) and SPRG for the year is expected to be 4%+.

Adjusted EBITDA Margin is estimated to increase by 20+ basis points over 2023 levels to about 18.4%, as the company drives operating leverage off a fully built-out corporate infrastructure, designed to support significant expansion of the business.

The company also expects to complete acquisitions representing PF-adjusted EBITDA after rent of $20 million+. Also, the company is expecting adjusted free cash flow per share to grow by 15% to 20% ($0.74 to $0.77) as the company continues to self-fund acquisitive growth.