Hydreight Technologies (NURS) investor relations material

Executive summary

• Q3 delivered record results with GAAP revenue up 132% year-over-year to $12.83 million and marked the fourth consecutive profitable quarter.

• Broad-based growth across all business verticals, driven by strong adoption and expansion of the VSDHOne platform.

• Strategic investments in modular technology and infrastructure support margin improvement and 2026 scaling objectives.

• Over 510,000 product orders processed year-to-date by mid-November, with more than 1,100 licenses sold, all inbound, reflecting strong demand and platform adoption.

• The company is positioned for continued aggressive, profitable growth into 2024 and 2026, with new product categories and expanded customer funnels.

Financial highlights

• Q3 GAAP revenue grew 132% year-over-year to $12.83 million; nine-month revenue reached $26.71 million.

• Gross margin for Q3 2025 was $2.33 million, a 52% increase from the prior year.

• Cash on hand at quarter-end was $18.64 million.

• Four consecutive quarters of profitability, with adjusted EBITDA and net income both positive and strengthening.

• Adjusted EBITDA for Q3 2025 was $620K, and GAAP net income was $362K.

Outlook and guidance

• 2026 revenue projections from three independent analysts range from CAD 90.8 million to CAD 130 million, with expectations to double revenue by 2026.

• Margins are expected to remain in the 26%-28% range next year, with AOV targeted to reach $40 by year-end and exceed $50 in 2026.

• Guidance for Q4 and 2026 will be provided within two weeks, pending material developments.

• Focus remains on operational discipline, financial planning, and scaling VSDHOne platform to support continued growth and 2026 objectives.

• Expansion into new product categories, especially category two peptides, and new customer funnels (ACOs, unions, independent pharmacies) are expected to drive growth.