Hydreight Technologies (NURS) Q2 2025 earnings summary

Executive summary

• Achieved strong Q2 performance with 33% year-over-year revenue growth for H1 2025, three consecutive quarters of profitability, and successful launch of the third vertical, VSDHOne, which is already generating revenue.

• Focused on building a compliance-driven, tech-enabled healthcare platform spanning mobile nursing, non-traditional clinics, and direct-to-consumer self-administered care, while expanding offerings to include genetic testing, anti-aging, and mental wellness.

• Positioned to capture a share of the $5 trillion U.S. healthcare market, with significant tailwinds from trends like individualized healthcare, at-home treatments, and rapid user and partner growth.

• Exceeded internal metrics across all business verticals and continued to invest in modular platform development and strategic acquisitions.

Financial highlights

• Q2 2025 GAAP revenue reached $5.38 million, up 31% year-over-year; topline revenue was $7.35 million, also up 31%.

• First six months GAAP revenue totaled $9.92 million, a 33% increase year-over-year; topline revenue was $13.88 million, up 33%.

• Gross margin for Q2 2025 was $1.93 million, up from $1.56 million in Q2 2024.

• Cash flow positive in Q2, with over $200,000 from operations and $6.10 million cash in the bank.

• Adjusted EBITDA for Q2 2025 was $182K, and GAAP net income was $50K.

Outlook and guidance

• Maintaining guidance for 1.3 million orders by year-end, with no evidence to change this target.

• Positioned to scale efficiently and achieve 2025 objectives through continued investment in technology, acquisitions, and strategic partnerships.

• On track to surpass pharmacy SKU order goals for June-August, with 42,829 orders received in the first 60 days.

• Expecting continued growth in Q3 and Q4, with focus on onboarding secured business and expanding product offerings.

• 2026 projections to be communicated after September, as the business matures and more data becomes available.