Health In Tech (HIT) Q4 2025 earnings summary

Executive summary

• Achieved 2025 revenue of $33.3M, a 71% increase year-over-year, marking the first year as a public company and driven by distribution expansion, platform advancement, and program innovation.

• Operates a fee-driven, AI-powered marketplace platform enabling SMBs to access self-funded health plans, with no plan or underwriting risk exposure.

• Distribution network grew 34% to 858 brokers, TPAs, and agencies, with significant runway for further market penetration in a $0.9T self-funded healthcare market.

• Platform enhancements included expanding eDIYBS to large employers, reducing underwriting timelines, and offering tailored, cost-saving plans with nationwide coverage.

• Launched a three-year rate stabilization program to address pricing volatility, targeting government and large employer clients.

Financial highlights

• Full year 2025 revenue rose 71% year-over-year to $33.3M; Q4 revenue up 53% to $7.5M.

• Adjusted EBITDA for 2025 was $4.1M (12.3% margin), up 81% year-over-year; net income was $1.3M (3.9% margin), up 91%.

• Q4 adjusted EBITDA was $0.3M; Q4 net income was -$0.3M, reflecting planned reinvestment and peak enrollment activity.

• Gross margin for FY 2025 was 62.8%, down from 79.2% in 2024.

• Positive operating cash flow of $3.1M for 2025; accounts receivable days reduced to 14 from 29.

Outlook and guidance

• 2026 revenue guidance is $45M–$50M, representing 35%–50% year-over-year growth.

• Growth supported by recurring revenue, expanded distribution, rapid scaling of new platform features, and new large employer offerings.

• Continued investment in AI, platform development, and expansion into claims administration and cost containment.

• Multiple growth pathways identified: expanding broker network, adding MGUs/carriers, launching new products, and monetizing proprietary data.

• Management notes actual results may differ due to risks and uncertainties.