Healwell AI (AIDX) Q4 2025 earnings summary

Executive summary

• Achieved record annual revenue of $103.8 million in fiscal 2025, up 427% year-over-year from $19.7 million in 2024.

• Delivered first full year of positive Adjusted EBITDA at $2.3 million, a $16.5 million improvement from 2024.

• Transitioned to a pure-play AI and software company through strategic divestments, generating $9.7 million in cash proceeds.

• Ended 2025 with $18.6 million in cash and holds strategic investments, including an interest in xAI.

• Expanded global AI platform adoption with major contracts in the Middle East, U.S., and Canada.

Financial highlights

• Fiscal 2025 gross profit reached $57.3 million, up from $10.8 million in 2024; gross margin steady at 55%.

• Q4 2025 revenue was $32.2 million, up 374% year-over-year; gross profit $17.6 million, up 376%.

• Q4 2025 Adjusted EBITDA was $1.1 million, marking the third consecutive quarter of positive Adjusted EBITDA.

• IFRS net loss from continuing operations was $39.1 million in 2025, compared to $24 million in 2024.

• Subscription, support, and maintenance revenue grew 522% to $66.8 million in 2025.

Outlook and guidance

• Targeting an exit run-rate Adjusted EBITDA margin of approximately 10% in 2026.

• Focus for 2026 is on global scaling, deepening AI adoption, and sustained profitability.

• Management evaluating monetization of strategic investments to further strengthen capital position.