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Globe and Mail
27 minutes ago
- Globe and Mail
VitalHub Reports Second Quarter 2025 Results
Annual Recurring Revenue (ARR) (1) up 55% YoY to $79.6 million Total Revenue up 47% YoY to $23.9 million Adjusted EBITDA (1) up 50% YoY to $6.3 million TORONTO, Aug. 07, 2025 (GLOBE NEWSWIRE) -- Vitalhub Corp. (TSX:VHI) (OTCQX:VHIBF) (the 'Company' or 'VitalHub') announced today it has filed its Interim Condensed Consolidated Financial Statements and Management's Discussion and Analysis report for the three and six months ended June 30, 2025 with the Canadian securities authorities. These documents may be viewed under the Company's profile at 'Momentum continued in the second quarter with annual organic ARR (1) growth of 14% and 26% adjusted EBITDA (1) margin,' said Dan Matlow, CEO of VitalHub. 'We have worked hard to integrate all 2024 acquisitions that we are building toward our targeted consolidated financial profile. We recently closed the larger acquisitions of Canada-based Novari and UK-based Induction. These add established electronic referral, surgical wait list management, and patient engagement solutions to the VitalHub patient flow suite. Inclusive of all activity to date, we have over $40 million of cash and over $90 million of ARR (1), providing the flexibility and scale to continue expanding internationally.' VitalHub's quarterly investor conference call will take place on Friday, August 8, 2025, at 9:00AM EST. To register for the conference call please visit: Second Quarter 2025 Highlights ARR (1) as at June 30, 2025 was $79,589,081 as compared to $73,687,666 at March 31, 2025, an increase of $5,901,415 or 8%. Over the previous quarter, ARR (1) movement in Q2 2025 from Q1 2025 was attributable to the following: Organic growth of $1,860,849 or 3%. Acquisition growth of $3,870,000 or 5%. Gain of $170,566 due to fluctuations in foreign exchange rates. Revenue of $23,857,548 as compared to $16,237,605 in the equivalent prior year period, an increase of $7,619,943 or 47%. From the date of closing to June 30, 2025, Induction contributed revenue of $480,383. Gross profit as a percentage of revenue was 81% in Q2 2025 and Q2 2024. Net income before income taxes of $2,255,226 as compared to $1,383,605 in the equivalent prior year period, an increase of $871,621 or 63%. EBITDA (1) of $3,599,683 as compared to $1,972,452 in the equivalent prior year period, an increase of $1,627,231 or 82%. Adjusted EBITDA (1) of $6,304,647 or 26% of revenue, as compared to $4,193,985 or 26% of revenue in the equivalent prior year period, an increase of $2,110,662 or 50%. Six Month 2025 Highlights ARR (1) as at June 30, 2025 was $79,589,081 as compared to $51,283,570 at June 30, 2024, an increase of $28,305,511 or 55%. Over the previous year, ARR (1) movement in Q2 2025 from Q2 2024 was attributable to the following: Organic growth of $7,329,129 or 14%. Acquisition growth of $18,470,000 or 36%. Gain of $2,506,382 due to fluctuations in foreign exchange rates. Revenue of $45,532,514 as compared to $31,494,396 in the equivalent prior year period, an increase of $14,038,118 or 45%. Gross profit as a percentage of revenue was 81% in the first six months of 2025 and 2024. Net income before income taxes of $3,742,639 as compared to net income before income taxes of $3,362,500 in the equivalent prior year period, a increase of $380,139 or 11%. EBITDA (1) of $6,750,057 compared to $5,071,468 in the prior year, an increase of $1,678,589 or 33%. Adjusted EBITDA (1) of $11,919,333 or 26% of revenue, compared to $8,238,917 or 26% of revenue in the equivalent prior year period, an increase of $3,680,416 or 45%. Cash on hand as at June 30, 2025 was $94,008,665 compared to $56,574,904 as at December 31, 2024. The Company arranged a $15,000,000 loan to finance an acquisition and fully repaid the balance subsequent to quarter-end. On July 4, 2025, the Company acquired all of the issued and outstanding shares of Novari Health Inc. and its subsidiaries ('Novari') for total consideration of approximately $35.8 million in cash and the issuance of 733,726 common shares of VitalHub. Novari's platform offers a series of integrated software modules providing referral management, surgical wait list management, central intake, and care coordination. With the addition of the ARR (1) of Novari subsequent to the quarter, the Company's pro forma ARR (1) as at June 30, 2025, is approximately $91.6 million. (1) Non-IFRS measure. Disclaimers and reconciliations can be found in SEDAR filings. Selected Financial Information Three months ended Six months ended June 30, 2025 % Revenue June 30, 2024 % Revenue Change June 30, 2025 % Revenue June 30, 2024 % Revenue Change $ $ % $ $ % Revenue 23,857,548 100 % 16,237,605 100 % 47 % 45,532,514 100 % 31,494,396 100 % 45 % Cost of sales 4,499,328 19 % 3,068,801 19 % (47 %) 8,730,001 19 % 6,042,493 19 % (44 %) Gross profit 19,358,220 81 % 13,168,804 81 % 47 % 36,802,513 81 % 25,451,903 81 % 45 % Operating expenses General and administrative 4,677,904 20 % 3,260,964 20 % (43 %) 9,948,653 22 % 6,452,821 20 % (54 %) Sales and marketing 2,695,935 11 % 1,821,834 11 % (48 %) 4,724,947 10 % 3,518,298 11 % (34 %) Research and development 6,033,028 25 % 3,675,359 23 % (64 %) 11,253,211 25 % 7,093,481 23 % (59 %) Depreciation of property and equipment 250,861 1 % 81,174 0 % (209 %) 392,938 1 % 159,004 1 % (147 %) Depreciation of right-of-use assets 105,499 0 % 111,245 1 % 5 % 225,395 0 % 218,007 1 % (3 %) Share-based compensation 644,811 3 % 675,674 4 % 5 % 1,410,211 3 % 1,024,253 3 % (38 %) Deferred share-based compensation 90,000 0 % 0 0 % (100 %) 90,000 0 % 0 0 % (100 %) Foreign currency loss (gain) (353,294) (1 %) 216,662 1 % 263 % (1,047,701) (2 %) 148,386 0 % 806 % Other expenses (income) Amortization of intangible assets 1,437,740 6 % 1,114,299 7 % (29 %) 3,359,134 7 % 2,220,841 7 % (51 %) Business acquisition, restructuring and integration costs 1,970,153 8 % 1,199,964 7 % (64 %) 3,433,567 8 % 1,797,301 6 % (91 %) Loss on change in fair value of contingent consideration 0 0 % 345,895 2 % 100 % 235,498 1 % 345,895 1 % 32 % Interest expense (net of interest income) (462,564) (2 %) (729,595) (4 %) (37 %) (997,873) (2 %) (914,402) (3 %) 9 % Interest expense from lease liabilities 12,921 0 % 11,724 0 % (10 %) 27,824 0 % 25,518 0 % (9 %) Loss on disposal of property and equipment 0 0 % 0 0 % 0 % 4,070 0 % 0 0 % (100 %) Current and deferred income taxes 483,009 2 % 1,718,658 11 % (72 %) 808,950 2 % 2,379,087 8 % (66 %) Net income 1,772,217 7 % (335,053) (2 %) (629 %) 2,933,689 6 % 983,413 3 % 198 % EBITDA (Non-IFRS measure) 3,599,683 15 % 1,972,452 12 % 82 % 6,750,057 15 % 5,071,468 16 % 33 % Adjusted EBITDA (Non-IFRS measure) 6,304,647 26 % 4,193,985 26 % 50 % 11,919,333 26 % 8,238,917 26 % 45 % Annual recurring revenue (Non-IFRS measure) 79,589,081 51,283,570 55 % 79,589,081 51,283,570 55 % Term licences, maintenance and support revenue 19,894,544 83 % 13,039,369 80 % 53 % 38,238,110 84 % 25,504,431 81 % 50 % As at June 30, 2025 December 31, 2024 $ $ Cash balance 94,008,665 56,574,904 Deferred reve nue 45,303,289 35,636,002 About VitalHub VitalHub is a leading software company dedicated to empowering health and human services providers globally. VitalHub's comprehensive product suite includes electronic health records, operational intelligence, and workforce automation solutions that serve over 1,000 clients across the UK, Canada, and other geographies. The Company has a robust two-pronged growth strategy, targeting organic opportunities within its product suite and pursuing an aggressive M&A plan. VitalHub is headquartered in Toronto with over 500 employees globally, across key regions and the VitalHub Innovations Lab in Sri Lanka. For more information about VitalHub (TSX:VHI) (OTCQX:VHIBF), please visit and LinkedIn. Contact Information Christian Sgro, CPA, CA, CFA Head of IR and M&A Specialist (365) 363-6433 Dan Matlow Chief Executive Officer, Director (416) 727-9061 Cautionary Statement Certain statements contained in this news release may constitute 'forward-looking information' or 'financial outlook' within the meaning of applicable securities laws that involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking information or financial outlook. Often, but not always, forward-looking statements can be identified by the use of words such as 'plans', 'is expected', 'expects', 'scheduled', 'intends', 'contemplates', 'anticipates', 'believes', 'proposes' or variations (including negative variations) of such words and phrases, or state that certain actions, events or results 'may', 'could', 'would', 'might' or 'will" be taken, occur or be achieved. Such statements are based on the current expectations of the management of each entity and are based on assumptions and subject to risks and uncertainties. Although the management of each entity believes that the assumptions underlying these statements are reasonable, they may prove to be incorrect. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. No forward-looking statement can be guaranteed. Except as required by applicable securities laws, forward-looking statements speak only as of the date on which they are made and the Company undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise.
Globe and Mail
27 minutes ago
- Globe and Mail
Did You Lose Money on Hims & Hers Health, Inc. (HIMS)? Levi & Korsinsky Urges Investors to Act Before August 25, 2025
New York, New York--(Newsfile Corp. - August 7, 2025) - If you suffered a loss on your Hims & Hers Health, Inc. (NYSE: HIMS) investment and want to learn about a potential recovery under the federal securities laws, follow the link below for more information: or contact Joseph E. Levi, Esq. via email at jlevi@ or call (212) 363-7500 to speak to our team of experienced shareholder advocates. Cannot view this video? Visit: THE LAWSUIT: A class action securities lawsuit was filed against Hims & Hers Health, Inc. that seeks to recover losses of shareholders who were adversely affected by alleged securities fraud between April 29, 2025 and June 23, 2025. CASE DETAILS: The filed complaint alleges that defendants made false statements and/or concealed that: (1) Hims was engaged in the "deceptive promotion and selling of illegitimate, knockoff versions of Wegovy® that put patient safety at risk;" (2) as a result, there was a substantial risk that the Company's collaboration with Novo Nordisk would be terminated; and (3) as a result of the foregoing, defendants' positive statements about the Company's business, operations, and prospects were materially misleading and/or lacked a reasonable basis. WHAT'S NEXT? If you suffered a loss in Hims & Hers Health, Inc. stock during the relevant time frame - even if you still hold your shares - go to to learn about your rights to seek a recovery. There is no cost or obligation to participate. WHY LEVI & KORSINSKY: Over the past 20 years, Levi & Korsinsky LLP has established itself as a nationally-recognized securities litigation firm that has secured hundreds of millions of dollars for aggrieved shareholders and built a track record of winning high-stakes cases. The firm has extensive expertise representing investors in complex securities litigation and a team of over 70 employees to serve our clients. For seven years in a row, Levi & Korsinsky has ranked in ISS Securities Class Action Services' Top 50 Report as one of the top securities litigation firms in the United States. Attorney Advertising. Prior results do not guarantee similar outcomes. To view the source version of this press release, please visit
CTV News
42 minutes ago
- CTV News
Guelph saying goodbye to parking lot gates
A red and white parking lot gate was photographed in Guelph, Ont. on Aug. 7, 2025. (Spencer Turcotte/CTV News) Soon enough, metal arms at municipal parking lots will become extinct as the City of Guelph says, 'gone with the gates.' 'We're removing all of the gates from our municipal lots in the City of Guelph, and transitioning to gateless parking structures and parking lots,' said Ashley Kassian, Guelph's program manager of operations administration. It comes down to aging infrastructure and eliminating barriers. 'If you have to pay at the gate, it creates a long line of traffic, which can be stressful for users,' said Kassian. Drivers will be able to come and go more quickly. People who have a permit can continue to use it. Physical pay stations will still be an option, but one feature making this transition more seamless is a parking management platform called HONK Mobile. Parking garage Guelph, Ont. A parking garage was photographed in Guelph, Ont. on Aug. 7, 2025. (Spencer Turcotte/CTV News) 'Anyone with a phone can access HONK whether they've downloaded the app or not,' said Michael Back, CEO and founder of HONK. 'Anyone with a phone can scan a QR code or send a text to a short code and they have a parking metre in the palm of their hand.' City enforcement staff will be able to check whether license plates are registered through the platform to ensure every vehicle in the lot has paid for parking. HONK said they've also worked out kinks, which saw bad actors in other cities post fake QR codes. 'Every one of our QR codes is specifically branded and leads to a HONK website,' said Back. 'All of HONK's QR codes will be 10 feet or above in height, they'll also be a size that is harder to replicate. The city's folks will be checking all of the signs.' As for hourly rates, they'll stay the same after the gates disappear. There is no cost to use the app but anyone using HONK Mobile online will have to pay a $0.35 service fee. The city plans to have gates removed at parking lots in November, which is when new enforcement and payment systems will be in full effect.
