Hydreight Technologies (NURS) Q1 2025 earnings summary

Executive summary

• Achieved 34% year-over-year Q1 revenue growth, surpassing projections and reflecting strong execution across core verticals.

• Secured new customers for the VSDHOne platform, supporting year-end order targets and ongoing expansion.

• Continued investments in technology and infrastructure to scale efficiently and drive sustainable margin improvements.

Financial highlights

• Q1 2025 topline revenue reached $6.53M (34% YoY growth); GAAP revenue was $4.54M, up from $3.38M in Q1 2024.

• Gross margin increased to $1.50M from $1.23M YoY; adjusted gross margin rose 76% to $1.96M.

• Adjusted EBITDA improved to $163K from a loss of $46K; GAAP net income was $21K, reversing a $309K loss YoY.

• Cash on hand at quarter-end was $6.04M; completed $5.4M gross ($4.8M net) strategic financing in February.

• Nurse signups grew 65% and pharmacy orders rose 48% compared to Q1 2024.

Outlook and guidance

• Focused on scaling responsibly, improving margins, and capturing market share in digital health.

• Key 2025 priorities: growth across three verticals, sustained profitability, expansion into genetic testing, anti-aging, and mental wellness, onboarding high-volume partners, and pursuing strategic M&A.