Clearwater, Florida--(Newsfile Corp. - May 12, 2026) - TelyRx Holdings Inc. (TSX: TELY) ("TelyRx" or the "Company"), a vertically integrated, technology-enabled healthcare and pharmacy services company, today announced financial results for the first quarter ended March 31, 2026. All dollar amounts are expressed in U.S. dollars.

Highlights for the First Quarter of 2026

• Revenue increased to $19.4 million, compared to $14.3 million in Q4 2025 and $6.9 million in Q1 2025
• Number of Prescriptions Filled increased to 236,000 compared to 177,000 in the fourth quarter of 2025 and 82,000 in the first quarter of 2025
• Net Loss increased to $4.7 million, compared to a loss of $3.1 million in Q4 2025 and nil in Q1 2025
• Adjusted EBITDA¹loss increased to $2.3 million, compared to a loss of $2.1 million in Q4 2025 and a positive $0.2 million in Q1 2025
• Completion of Go-Public Transaction - On March 31, 2026, TelyRx, Inc. completed its reverse takeover transaction of Apolo V Acquisition Corp., now TelyRx, and the Company's subordinate voting shares commenced trading on the TSX under the symbol "TELY" on April 7, 2026

"Our first quarter 2026 results reflect the growing demand for convenient, affordable healthcare," said Vanessa Slowey, President and Chief Executive Officer of TelyRx. "Our 35% sequential revenue growth over the prior quarter, 69,000 new customers acquired all while maintaining a majority of revenue coming from repeat customers demonstrates that we are not just acquiring patients, we are earning their long-term loyalty. We have built a vertically integrated platform to capture one of the fastest growing segments of the U.S. healthcare market. With our existing capacity and the capability to reach 97% of the U.S. population, we are well positioned to scale and continue delivering essential medications to patients with no friction, no delays, and no barriers."

2026 First Quarter Financial Results
Selected Financial Information

2026 First Quarter Operational Results

Revenue of the Company was $19.4 million for the three months ended March 31, 2026 (Q1 2026), an increase of $12.5 million, or 180%, compared to $6.9 million for the same period in 2025. Revenue consisted of revenue from recurring customers of $12.7 million in the quarter and revenue from new customers of $6.7 million.

Cost of revenue was $8.7 million for Q1 2026, an increase of $5.3 million, compared to $3.4 million for Q1 2025.

Gross profit was $10.7 million, with a gross profit margin of 55% for Q1 2026, an increase of $7.2 million, compared to $3.5 million and a gross profit margin of 50% for the same period in 2025.

Net loss was $4.7 million compared to net income of nil million in Q1 2025, due primarily to greater marketing, general and administrative, and operations and support expenses, as well as go-public transaction expense.

Conference Call

The Company will host a conference call and webcast to discuss its first quarter of 2026 financial results on Wednesday, May 13, 2026, at 8:30 a.m. Eastern Time (ET). To dial direct and enter the conference call through an operator, dial 647-361-0247 or 1-844-763-8274. The live webcast can be accessed by copying and pasting this link into a browser: https://www.gowebcasting.com/14710. Please connect approximately 15 minutes prior to the beginning of the webcast or call to ensure participation. A transcript of the call will be available on our website at https://investor.telyrx.com/events-presentations shortly after the completion of the call.

About TelyRx Holdings Inc. (www.telyrx.com)

TelyRx is a technology-enabled healthcare and pharmacy services company operating a digital pharmacy platform connecting patients with independent, state-licensed providers to access over 400 everyday medications across 48 U.S. states and territories. The company fulfills prescriptions through its licensed retail pharmacies and offers fast, convenient delivery of medications directly to patients' doors.

1) Non-IFRS Financial Metrics

In addition to the Company's financial results determined in accordance with IFRS, the Company presents non‐IFRS measures such as Adjusted Earnings Before Interest, Taxes, Depreciation and Amortization ("Adjusted EBITDA") and Free Cash Flow or FCF, as defined below that do not have standardized meanings prescribed by IFRS. We believe that Adjusted EBITDA, when taken together with the corresponding IFRS financial measures, provides meaningful supplemental information regarding our performance by excluding certain items that may not be indicative of our business, results of operations, or outlook. The Company considers Adjusted EBITDA and Free Cash Flow to be important measures because they help illustrate underlying trends in the business and the Company's historical operating performance on a more consistent basis. The Company believes that the use of Adjusted EBITDA and Free Cash Flow is helpful to our investors as it is used by management in assessing the health of the business, its operating performance, and its liquidity.

However, non-IFRS financial information is presented for supplemental informational purposes only, has limitations as an analytical tool, and should not be considered in isolation or as a substitute for financial information presented in accordance with IFRS. In addition, other companies, including companies in our industry, may calculate similarly-titled non-IFRS financial measures or ratios differently or may use other financial measures or ratios to evaluate their performance, all of which could reduce the usefulness of Adjusted EBITDA or Free Cash Flow as a tool for comparison. Reconciliations are provided below to the most directly comparable financial measures stated in accordance with IFRS. Investors are encouraged to review our IFRS financial measures and not to rely on any single financial measure to evaluate our business.

Adjusted EBITDA

The Company defines Adjusted EBITDA as net income / (loss) adjusted for interest expense, depreciation and amortization, stock compensation expense, transaction expenses and, income tax (benefit) / provision, as applicable. Management believes Adjusted EBITDA is a useful supplemental measure to determine our cash burn rate related to operations so readers can understand the cash that is available to operate the business.

The following table reconciles net loss to Adjusted EBITDA for the three months ended March 31, 2026 and 2025 (US dollars in thousands):

Some of the limitations of Adjusted EBITDA include (i) Adjusted EBITDA does not properly reflect capital commitments to be paid in the future, and (ii) although depreciation and amortization are non-cash charges, the underlying assets may need to be replaced and Adjusted EBITDA does not reflect these capital expenditures. In evaluating Adjusted EBITDA, readers should be aware that in the future the Company will incur certain expenses similar to the adjustments set out above other than the Listing expense. The Company's presentation of Adjusted EBITDA should not be construed as an inference that its future results will be unaffected by these expenses or any unusual or non-recurring items. The Company compensates for these limitations by providing specific information regarding the IFRS items excluded from Adjusted EBITDA. When evaluating the business' performance, readers should consider Adjusted EBITDA in addition to, and not as a substitute for, other financial performance measures, including our net income (loss) and other IFRS results.

Free Cash Flow

Free Cash Flow is a key performance measure that the Company uses to assess liquidity. Because Free Cash Flow facilitates internal comparisons of the Company's historical liquidity on a more consistent basis, the Company uses this measure for business planning purposes. Free Cash Flow is defined as net cash provided by (used in) operating activities, less purchases of property, equipment, and intangible assets and investment in internal-use software in investing activities.

The following table reconciles net cash used in operating activities to Free Cash Flow for the three months ended March 31, 2026 and 2025 (US dollars in thousands):

Some of the limitations of Free Cash Flow include (i) Free Cash Flow does not represent the Company's residual cash flow for discretionary expenditures and the Company's non-discretionary commitments, and (ii) Free Cash Flow includes capital expenditures, the benefits of which may be realized in periods subsequent to those in which the expenditures took place. In evaluating Free Cash Flow, readers should be aware that in the future the Company will have cash outflows similar to the adjustments above. The presentation of Free Cash Flow should not be construed as an inference that the Company's future results will be unaffected by these cash outflows or any unusual or non-recurring items. When evaluating the Company's performance, consider Free Cash Flow in addition to, and not as a substitute for, other financial performance measures, including the Company's net cash used in operating activities and other IFRS results.

In addition to the non-IFRS measures described above, management monitors key business metrics to help it evaluate the business, identify trends affecting the business, formulate business plans, and make strategic decisions, including Number of Prescriptions Filled to compare the financial performance of the Company's operations between periods. The Number of Prescriptions Filled is not audited and represents the number of prescriptions filled by TelyRx, Inc. and subsidiaries during the applicable period. This is provided for supplemental informational purposes only, has limitations as an analytical tool, and should not be considered in isolation or as a substitute for financial information presented in our financial statements.

Forward-Looking Statements

This press release includes certain statements that may be deemed "forward‐looking statements". All statements in this press release other than statements of historical facts including, without limitation, those that address future events, developments, or transactions that we expect, are forward‐looking statements. These forward-looking statements are made as of the date of the Management Discussion & Analysis ("MD&A") of the Company dated May 12, 2026 and filed on SEDAR+ at sedarplus.ca. Forward‐looking statements are frequently, but not always, identified by words such as "expect", "anticipate", "estimate", "may", "could", "might", "will", "would", "should", "intend", "believe", "target", "budget", "plan", "strategy", "goals", "objectives", "predicts"; "potential", "projects", "possible", "milestones", "projection" or the negative of any of these words and similar expressions, although these words may not be present in all forward‐looking statements. Examples of forward-looking statements in this press release include, but are not limited to, statements regarding: the Company's expectations regarding growing scale and long-term revenue growth; the demand for our services and loyalty of our customers, the potential growth of this segment of the US healthcare market and the possibility of the Company incurring expenses similar to the adjustments set out above under "Non-IFRS Financial Metrics".

Forward‐looking statements involve known and unknown risks, uncertainties, assumptions, and other factors that may cause the actual results, performance, or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward‐looking statements. Such factors include, but are not limited to, the factors discussed in the section entitled "Risk Factors" in the MD&A dated May 12, 2026 and filed on SEDAR+. Although the Company has attempted to identify important factors that could cause actual actions, events, or results to differ materially from those described in forward‐looking statements, there may be other factors that cause actions, events, or results to differ from those anticipated, estimated or intended. Forward looking statements contained herein are made as of the date of this MD&A and, other than as required by law, the Company disclaims any obligation to update any forward‐looking statements, whether because of new information, future events, or results or otherwise. There can be no assurance that forward‐looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Forward‐looking statements are based on several assumptions, which may prove to be incorrect, including but not limited to the assumptions discussed in this section. Accordingly, readers should not place undue reliance on forward‐looking statements.

TelyRx Holdings, Inc.
Unaudited Consolidated Interim Statements of Financial Position
(in thousands of U.S. dollars)
As of March 31, 2026 and December 31, 2025
Unaudited

TelyRx Holdings, Inc.
Unaudited Consolidated Interim Statements of Loss and Other Comprehensive Loss
(in thousands of U.S. dollars)
For the three months ended March 31, 2026 and 2025
Unaudited

TelyRx Holdings, Inc.
Unaudited Consolidated Interim Statements of Cash Flows
(in thousands of U.S. dollars)
For the three months ended March 31, 2026 and 2025
Unaudited

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