Health In Tech (HIT) Q3 2025 earnings summary

Executive summary

• Q3 2025 revenue rose 90% year-over-year to $8.5 million, with nine-month revenue at $25.8 million, surpassing 2024's full-year total and reflecting strong demand and expanded distribution.

• Expanded distribution network to 849 partners and 910 business clients, with billed-enrolled employees up to 25,248, a 44% increase year-over-year.

• Launched large employer underwriting on the eDIBS/eDIYBS platform, enabling bindable quotes for groups of 150+ employees in two weeks.

• Announced a non-binding LOI with AlphaTON Capital to co-develop HITChain, a blockchain-enabled claims platform targeting inefficiencies and fraud in the $4.5T U.S. healthcare market.

• Temporarily paused HI Card development to focus on higher-revenue platform enhancements, with plans to relaunch HI Card in late 2025 or early 2026.

Financial highlights

• Q3 2025 revenue was $8.5 million, up 90% year-over-year; nine-month revenue reached $25.8 million, 132% of 2024's full-year total.

• Adjusted EBITDA for Q3 was $1.0 million, up 49% year-over-year; nine-month adjusted EBITDA totaled $3.8 million, 167% of 2024's total.

• Net income for Q3 was $452K; nine-month net income was $1.58 million, with EPS of $0.03.

• Gross margin for Q3 was 60.6%, down from 78.0% in Q3 2024; nine-month gross margin was 65.1%.

• Cash and cash equivalents as of September 30, 2025, were $8.0 million; accounts receivable was $0.87–$0.9 million.

Outlook and guidance

• Expects Q4 2025 revenue growth of ~50% year-over-year, with full-year revenue projected at $32–$33 million (70% growth).

• Full-year net income growth projected near 90%, outpacing revenue growth.

• Plans to launch the three-year rate hold program in Q1 2026 and resume HI Card development.

• Anticipates sales volume shift from Q4 into Q1 2026 due to market timing patterns.

• Strategic investments in technology and platform enhancements expected to support sustainable long-term growth.