Latest news with #WELLHealthTechnologiesCorp
Business Wire
20-05-2025
- Business
- Business Wire
WELL Health Enters into Automatic Share Purchase Plan
VANCOUVER, British Columbia--(BUSINESS WIRE)--WELL Health Technologies Corp. (TSX: WELL) (OTCQX: WHTCF) (' WELL ' or the ' Company '), a digital health company focused on positively impacting health outcomes by leveraging technology to empower healthcare practitioners and their patients globally, announced today that it has entered into an automatic share purchase plan (' ASPP ') with a broker in order to facilitate repurchases of the Company's common shares (' Common Shares ') under its previously announced normal course issuer bid (' NCIB '). WELL previously announced that it had received approval from the Toronto Stock Exchange (' TSX ') to, during the 12-month period commencing May 20, 2025 and terminating May 19, 2026, purchase up to 6,326,417 Common Shares, representing approximately 2.5% of the 253,056,708 Common Shares issued and outstanding as of May 7, 2025, by way of a NCIB on the TSX or through Canadian alternative trading systems or by such other means as may be permitted under applicable law. During the effective period of WELL's ASPP, WELL's broker may purchase Common Shares at times when WELL would not be active in the market due to insider trading rules and its own internal trading blackout periods. Purchases will be made by WELL's broker based upon parameters set by WELL when it is not in possession of any undisclosed material information about itself and its securities, and in accordance with the terms of the ASPP. Outside of the effective period of the ASPP, Common Shares may continue to be purchased in accordance with WELL's discretion, subject to applicable law. The ASPP has been entered into in accordance with the requirements of applicable Canadian securities laws. WELL HEALTH TECHNOLOGIES CORP. Per: 'Hamed Shahbazi' Hamed Shahbazi Chief Executive Officer, Chairman and Director About WELL Health Technologies Corp. WELL's mission is to tech-enable healthcare providers. We do this by developing the best technologies, services, and support available, which ensures healthcare providers are empowered to positively impact patient outcomes. WELL's comprehensive healthcare and digital platform includes extensive front and back-office management software applications that help physicians run and secure their practices. WELL's solutions enable more than 42,000 healthcare providers between the US and Canada and power the largest owned and operated healthcare ecosystem in Canada with more than 200 clinics supporting primary care, specialized care, and diagnostic services. In the United States WELL's solutions are focused on specialized markets such as the gastrointestinal market, women's health, primary care, and mental health. WELL is publicly traded on the Toronto Stock Exchange under the symbol 'WELL' and on the OTC Exchange under the symbol 'WHTCF'. To learn more about the Company, please visit:
Associated Press
14-05-2025
- Business
- Associated Press
WELL Health Reports Record Revenue in Q1-2025 with 32% YoY Growth and Record Quarterly EBITDA in Canadian Business
VANCOUVER, British Columbia--(BUSINESS WIRE)--May 14, 2025-- WELL Health Technologies Corp. (TSX: WELL, OTCQX: WHTCF) (the ' Company ' or ' WELL '), a digital healthcare company focused on positively impacting health outcomes by leveraging technology to empower healthcare practitioners and their patients globally, is pleased to announce its interim consolidated financial results for the quarter ended March 31, 2025. Hamed Shahbazi, Chairman and CEO of WELL, commented, 'We are very pleased to report a solid start to 2025, with strong performance in the first quarter which saw our revenue run rate approach the $1.2 billion per year mark. Our Canadian business inclusive of Canadian clinics and WELLSTAR continued to drive our growth, achieving a revenue run rate of slightly below half a billion dollars per year and achieving 32% year-over-year revenue growth, including 13.4% organic growth. We're particularly proud of our Canadian operations, which posted an impressive 29% YoY increase in Adjusted EBITDA (1) an acceleration over the previous year's growth rate of 23% YoY. These results demonstrate the growing strength of our platform and our ability to help support healthcare providers with our unique tech enabled platform. WELL is quickly becoming a valued and trusted place for administratively burdened physicians who want to focus on providing care and not on running operations.' Mr. Shahbazi further added, " Looking ahead, we are pleased to confirm that starting in Q2 2025, as per IFRS control requirements relating to our majority position with HEALWELL AI, we will be expecting to add another approximately $40 million in quarterly revenue in 2025 with positive Adjusted EBITDA (1) contribution. Overall, both of our growth engines are executing extremely well, as we expect to maintain elevated organic growth while executing on our M&A pipeline which currently includes 11 signed LOIs worth $65M in revenues. With a solid operational foundation and an unwavering commitment to excellence, we are confident that 2025 will be another exceptional year for WELL.' Eva Fong, WELL's Chief Financial Officer, commented, 'We are off to a strong start in 2025, maintaining a solid financial position. We ended Q1 with a healthy balance sheet improved by our continued generation of free cashflow and prudent management of our credit lines where we continue to be in good standing. We remain well-positioned to continue funding our growth through cash flow from operations and based on the strength of our business, I am pleased to confirm that we will be re-initiating our share buyback program shortly after reporting our Q1 results. We believe our shares are undervalued and we will continue to improve our cashflow and demonstrate the power of our platform by returning value to our shareholders. Our continued focus on enhancing operational efficiency, coupled with our strategic initiatives, positions WELL for another successful year of growth and value creation for our shareholders.' First Quarter 2025 Financial Highlights: Segmented Revenue: First Quarter 2025 Patient Visit Metrics: WELL achieved a total of 1.6 million patient visits in Q1-2025, an increase of 23% as compared to 1.3 million patient visits in Q1-2024. Canadian Patient Services visits increased 29% while US Patient Services visits increased 16%, on a year-over-year basis. Growth in patient visits over the past year was primarily driven by organic growth, including the clinic absorption program. In addition, WELL achieved over 2.6 million patient interactions (3) in Q1-2025, representing approximately 10.4 million patient interactions on an annualized run-rate. First Quarter 2025 Business Highlights: On January 1, 2025, the Company acquired a 65% interest in Harmony Anesthesia, LLC (' Harmony ') for aggregate consideration at $30.5 million (US$21.2 million). The purchase agreement also includes contingent consideration of $1.2 million (US$0.8 million) dependent on meeting a performance target. On January 21, 2025, the Company subscribed for 0.5 million subscription receipts in HEALWELL for an aggregate subscription price of $1,000 which entitled the Company to receive, upon satisfaction of certain release conditions, 0.5 million Class A Subordinate Voting shares of HEALWELL and 0.25 million share purchase warrants with each warrant exercisable into one Class A Subordinate Voting share at $2.50 per share for a period of 36 months. On March 26, 2025, WELL exercised its 20 million share purchase warrants to acquire an aggregate of 20 million Class A Subordinate Voting Shares of HEALWELL (each, a ' SVS ') at a price of $0.20 per share and 0.3 million share purchase warrants to acquire an aggregate of 0.3 million SVSs at a price of $1.20 per share and has converted all of its convertible debentures and interest accrued thereon into an aggregate of 23.0 million SVSs at a conversion price of $0.20 per share. Events Subsequent to March 31, 2025: On April 1, 2025, the Company and the HEALWELL founders amended the terms of the conditional call option held by the Company to acquire up to 30.8 million Class A Subordinate Voting Shares of HEALWELL at $0.125 per share and 30.8 million Class B Multiple Voting shares of HEALWELL at $0.0001 per share such that it became exercisable, and the Company exercised the call option to acquire such shares for total consideration of $3.9 million. On April 1, 2025, the release conditions were satisfied related to the Company's January 21, 2025 subscription for HEALWELL shares and the Company received 0.5 million Class A voting shares and 0.25 million share purchase warrants with each warrant exercisable into one Class A Subordinate Voting share at $2.50 per share for a period of 36 months in accordance with the terms of the subscription agreement. As of April 1, 2025, the Company held 97.2 million Class A Subordinate Shares and 30.8 million Class B Multiple Voting shares of HEALWELL, representing approximately 37% of the economic interest and approximately 69% of the voting rights in HEALWELL on a non-diluted basis. As a result, the Company obtained control of HEALWELL under IFRS, and accordingly, began consolidating the financial results of HEALWELL as a subsidiary of the Company effective April 1, 2025. On May 6, 2025, the Company announced the rebranding of its cybersecurity division as CYBERWELL and the appointment of Jeffrey Engle as CEO. CYBERWELL consolidates four firms: Source44, SeekIntoo, Cycura, and Proack Security into a unified cybersecurity company. The division will focus on recurring revenue, acquisitions, and international expansion. WELL noted plans for CYBERWELL to potentially be spun out in the future and serve as another growth engine. On May 7, 2025, the Company announced the launch of Nexus AI, a new AI-powered clinical documentation solution available across Canada. The product is initially focused on AI scribing and will expand through partnerships across the WELL ecosystem. Nexus AI is supported by government funding for up to 10,000 providers through Canada Health Infoway's AI Scribe pilot program. Outlook: WELL intends to continue its focus on maintaining strong performance, while strategically enhancing operations in the pursuit of organic growth and profitability. WELL is expecting its strong performance in the first quarter to continue across all its business units throughout the 2025 fiscal year. WELL's objective is to invest in and achieve significant growth while effectively managing its costs and delivering cashflow to shareholders. Management is pleased to provide its guidance for 2025 (Annual guidance only includes announced acquisitions): Excluding the impact of the Circle Medical deferred revenue adjustment, the Company's guidance for 2025 would be as follows: WELL is expecting a greater focus on leveraging product and corporate synergies in 2025, with an emphasis on the depth of product and technology offerings from WELLSTAR and HEALWELL AI. The Company also continues to focus the majority of its M&A and capital allocation activity in Canada where it is experiencing its strongest returns. Management will continue to pursue its focus on optimizing its operations for organic growth and profitability. Conference Call: WELL will release its First Quarter 2025 financial results for the period ended March 31, 2025, on Wednesday, May 14, 2025. The Company will hold a conference call and simultaneous webcast to discuss its results on the same day at 1:00 pm ET (10:00 am PT). Please use the following dial-in numbers: 1-800-717-1738 (Toll Free) 1-289-514-5100 (International). The conference call will also be simultaneously webcast and can be accessed at the following audience URL: Selected Unaudited Financial Highlights: Please see SEDAR for complete copies of the Company's condensed interim consolidated financial statements and interim MD&A for the quarter ended March 31, 2025. Footnotes: WELL HEALTH TECHNOLOGIES CORP. Per: 'Hamed Shahbazi' Hamed Shahbazi Chief Executive Officer, Chairman and Director About WELL Health Technologies Corp. WELL's mission is to tech-enable healthcare providers. We do this by developing the best technologies, services, and support available, which ensures healthcare providers are empowered to positively impact patient outcomes. WELL's comprehensive healthcare and digital platform includes extensive front and back-office management software applications that help physicians run and secure their practices. WELL's solutions enable more than 42,000 healthcare providers between the US and Canada and power the largest owned and operated healthcare ecosystem in Canada with more than 200 clinics supporting primary care, specialized care, and diagnostic services. In the United States WELL's solutions are focused on specialized markets such as the gastrointestinal market, women's health, primary care, and mental health. WELL is publicly traded on the Toronto Stock Exchange under the symbol 'WELL' and on the OTC Exchange under the symbol 'WHTCF'. To learn more about the Company, please visit: Forward-Looking Statements This news release may contain 'Forward-Looking Information' within the meaning of applicable Canadian securities laws, including, without limitation: information regarding the Company's goals, strategies and growth plans; expectations regarding continued revenue and EBITDA growth; the expected benefits and synergies of completed acquisitions; capital allocation plans in the form of more acquisitions or share repurchases along with their expected revenue contributions; expected patient encounters; the expected financial performance as well as information in the 'Outlook' section herein. Forward-Looking Information are necessarily based upon a number of estimates and assumptions that, while considered reasonable by management, are inherently subject to significant business, economic and competitive uncertainties, and contingencies. Forward-Looking Information generally can be identified by the use of forward-looking words such as 'may', 'should', 'will', 'could', 'intend', 'estimate', 'plan', 'anticipate', 'expect', 'believe' or 'continue', or the negative thereof or similar variations. Forward-Looking Information involve known and unknown risks, uncertainties and other factors that may cause future results, performance, or achievements to be materially different from the estimated future results, performance or achievements expressed or implied by the Forward-Looking Information and the Forward-Looking Information are not guarantees of future performance. WELL's comments expressed or implied by such Forward-Looking Information are subject to a number of risks, uncertainties, and conditions, many of which are outside of WELL 's control, and undue reliance should not be placed on such information. Forward-Looking Information are qualified in their entirety by inherent risks and uncertainties, including: adverse market conditions and the ability to complete acquisitions; risks inherent in the primary healthcare sector in general; continued patient and consumer demand for WELL's products and services; regulatory and legislative changes; that future results may vary from historical results; inability to obtain any requisite future financing on suitable terms; any inability to realize the expected benefits and synergies of acquisitions; that market competition may affect the business, results and financial condition of WELL and other risk factors identified in documents filed by WELL under its profile at including its most recent Annual Information Form. Except as required by securities law, WELL does not assume any obligation to update or revise any forward-looking information, whether as a result of new information, events or otherwise. This news release contains future-oriented financial information and financial outlook information (collectively, 'FOFI') about estimated annual run-rate revenue and Adjusted EBIDTA, all of which are subject to the same assumptions, risk factors, limitations, and qualifications as set out in the above paragraph. The actual financial results of WELL may vary from the amounts set out herein and such variation may be material. WELL and its management believe that the FOFI has been prepared on a reasonable basis, reflecting management's best estimates and judgments. However, because this information is subjective and subject to numerous risks, it should not be relied on as necessarily indicative of future results. Except as required by applicable securities laws, WELL undertakes no obligation to update such FOFI. FOFI contained in this news release was made as of the date hereof and was provided for the purpose of providing further information about WELL's anticipated future business operations on an annual basis. Readers are cautioned that the FOFI contained in this news release should not be used for purposes other than for which it is disclosed source version on CONTACT: For further information:Tyler Baba Investor Relations, Manager [email protected] 604-628-7266 KEYWORD: NORTH AMERICA CANADA INDUSTRY KEYWORD: TECHNOLOGY SECURITY OTHER TECHNOLOGY HEALTH TECHNOLOGY SOFTWARE BIOTECHNOLOGY NETWORKS HEALTH GENERAL HEALTH SOURCE: WELL Health Technologies Corp. Copyright Business Wire 2025. PUB: 05/14/2025 07:01 AM/DISC: 05/14/2025 07:01 AM
Business Wire
14-05-2025
- Business
- Business Wire
WELL Health Reports Record Revenue in Q1-2025 with 32% YoY Growth and Record Quarterly EBITDA in Canadian Business
VANCOUVER, British Columbia--(BUSINESS WIRE)--WELL Health Technologies Corp. (TSX: WELL, OTCQX: WHTCF) (the ' Company ' or ' WELL '), a digital healthcare company focused on positively impacting health outcomes by leveraging technology to empower healthcare practitioners and their patients globally, is pleased to announce its interim consolidated financial results for the quarter ended March 31, 2025. Hamed Shahbazi, Chairman and CEO of WELL, commented, "We are very pleased to report a solid start to 2025, with strong performance in the first quarter which saw our revenue run rate approach the $1.2 billion per year mark. Our Canadian business inclusive of Canadian clinics and WELLSTAR continued to drive our growth, achieving a revenue run rate of slightly below half a billion dollars per year and achieving 32% year-over-year revenue growth, including 13.4% organic growth. We're particularly proud of our Canadian operations, which posted an impressive 29% YoY increase in Adjusted EBITDA (1) an acceleration over the previous year's growth rate of 23% YoY. These results demonstrate the growing strength of our platform and our ability to help support healthcare providers with our unique tech enabled platform. WELL is quickly becoming a valued and trusted place for administratively burdened physicians who want to focus on providing care and not on running operations." Mr. Shahbazi further added, " Looking ahead, we are pleased to confirm that starting in Q2 2025, as per IFRS control requirements relating to our majority position with HEALWELL AI, we will be expecting to add another approximately $40 million in quarterly revenue in 2025 with positive Adjusted EBITDA (1) contribution. Overall, both of our growth engines are executing extremely well, as we expect to maintain elevated organic growth while executing on our M&A pipeline which currently includes 11 signed LOIs worth $65M in revenues. With a solid operational foundation and an unwavering commitment to excellence, we are confident that 2025 will be another exceptional year for WELL." Eva Fong, WELL's Chief Financial Officer, commented, 'We are off to a strong start in 2025, maintaining a solid financial position. We ended Q1 with a healthy balance sheet improved by our continued generation of free cashflow and prudent management of our credit lines where we continue to be in good standing. We remain well-positioned to continue funding our growth through cash flow from operations and based on the strength of our business, I am pleased to confirm that we will be re-initiating our share buyback program shortly after reporting our Q1 results. We believe our shares are undervalued and we will continue to improve our cashflow and demonstrate the power of our platform by returning value to our shareholders. Our continued focus on enhancing operational efficiency, coupled with our strategic initiatives, positions WELL for another successful year of growth and value creation for our shareholders." First Quarter 2025 Financial Highlights: WELL achieved record quarterly revenue of $294.1 million in Q1-2025, an increase of 32% (2) as compared to revenue of $223.5 million generated in Q1-2024. This growth was mainly driven by organic growth and acquisitions that have occurred over the last twelve months. Excluding the impact from Circle Medical's deferred revenue adjustments, revenue would have reached $300.7 million. Adjusted Gross Profit (1) was $117.5 million in Q1-2025, an increase of 25% as compared to Adjusted Gross Profit (1) of $94.1 million in Q1-2024. Excluding the impact from Circle Medical's deferred revenue adjustments, Adjusted Gross Profit (1) was $124.0 million. Adjusted Gross Margin (1) percentage was 39.9% during Q1-2025 compared to Adjusted Gross Margin (1) percentage of 42.1% in Q1-2024. The decline in Adjusted Gross Margin (1) percentage is mainly attributed to revenue mix due to the addition of Provider Staffing revenue from the acquisition of Harmony Anesthesia in January 2025, which has lower margins compared to other Patient Services and SaaS and Technology Services revenue. Excluding the impact from Circle Medical's deferred revenue adjustments, Adjusted Gross Margin (1) was 41.2%. Adjusted EBITDA (1) was $27.6 million in Q1-2025, an increase of 36% (2) as compared to Adjusted EBITDA (1) of $20.2 million in Q1-2024. Excluding the impact of Circle Medical's deferred revenue adjustments, Adjusted EBITDA (1) would have reached $34.1 million. Adjusted EBITDA to WELL Shareholders (1) was $20.3 million in Q1-2025, an increase of 29% as compared to Adjusted EBITDA to WELL Shareholders (1) of $15.7 million in Q1-2024. Excluding the impact from Circle Medical's deferred revenue adjustments, Adjusted EBITDA to WELL Shareholders (1) would have reached $24.9 million. Adjusted Net Income (1) was $7.5 million, or $0.03 per share in Q1-2025, as compared to Adjusted Net Income (1) of $17.2 million, or $0.07 per share in Q1-2024. The decline in Adjusted Net Income (1) is mainly attributed to $11.3 million gain on sale of Intrahealth in Q1 2024. Excluding the impact from Circle Medical's deferred revenue adjustments, Adjusted Net Income (1) would have been $10.8 million. Adjusted Free Cash Flow Attributable to Shareholders ('FCFA2S')⁽¹⁾ was $11.8 million for Q1-2025, a decrease of 6.0%, as compared to FCFA2S of $12.6 million for Q1-2024 which benefited from a number of one-time payments to physicians. Q1-2025 FCFA2S was also impacted by higher capital expenditures and cash taxes. Segmented Revenue: Canadian Patient Services revenue was $99.7 million in Q1-2025, an increase of 32% as compared to $75.7 million in Q1-2024. U.S. Patient Services revenue was $173.6 million in Q1-2025, an increase of 31% as compared to $132.4 million in Q1-2024. SaaS and Technology Services revenue was $20.9 million in Q1-2025, an increase of 36% as compared to $15.4 million in Q1-2024. First Quarter 2025 Patient Visit Metrics: WELL achieved a total of 1.6 million patient visits in Q1-2025, an increase of 23% as compared to 1.3 million patient visits in Q1-2024. Canadian Patient Services visits increased 29% while US Patient Services visits increased 16%, on a year-over-year basis. Growth in patient visits over the past year was primarily driven by organic growth, including the clinic absorption program. In addition, WELL achieved over 2.6 million patient interactions (3) in Q1-2025, representing approximately 10.4 million patient interactions on an annualized run-rate. First Quarter 2025 Business Highlights: On January 1, 2025, the Company acquired a 65% interest in Harmony Anesthesia, LLC (' Harmony ') for aggregate consideration at $30.5 million (US$21.2 million). The purchase agreement also includes contingent consideration of $1.2 million (US$0.8 million) dependent on meeting a performance target. On January 21, 2025, the Company subscribed for 0.5 million subscription receipts in HEALWELL for an aggregate subscription price of $1,000 which entitled the Company to receive, upon satisfaction of certain release conditions, 0.5 million Class A Subordinate Voting shares of HEALWELL and 0.25 million share purchase warrants with each warrant exercisable into one Class A Subordinate Voting share at $2.50 per share for a period of 36 months. On March 26, 2025, WELL exercised its 20 million share purchase warrants to acquire an aggregate of 20 million Class A Subordinate Voting Shares of HEALWELL (each, a ' SVS ') at a price of $0.20 per share and 0.3 million share purchase warrants to acquire an aggregate of 0.3 million SVSs at a price of $1.20 per share and has converted all of its convertible debentures and interest accrued thereon into an aggregate of 23.0 million SVSs at a conversion price of $0.20 per share. Events Subsequent to March 31, 2025: On April 1, 2025, the Company and the HEALWELL founders amended the terms of the conditional call option held by the Company to acquire up to 30.8 million Class A Subordinate Voting Shares of HEALWELL at $0.125 per share and 30.8 million Class B Multiple Voting shares of HEALWELL at $0.0001 per share such that it became exercisable, and the Company exercised the call option to acquire such shares for total consideration of $3.9 million. On April 1, 2025, the release conditions were satisfied related to the Company's January 21, 2025 subscription for HEALWELL shares and the Company received 0.5 million Class A voting shares and 0.25 million share purchase warrants with each warrant exercisable into one Class A Subordinate Voting share at $2.50 per share for a period of 36 months in accordance with the terms of the subscription agreement. As of April 1, 2025, the Company held 97.2 million Class A Subordinate Shares and 30.8 million Class B Multiple Voting shares of HEALWELL, representing approximately 37% of the economic interest and approximately 69% of the voting rights in HEALWELL on a non-diluted basis. As a result, the Company obtained control of HEALWELL under IFRS, and accordingly, began consolidating the financial results of HEALWELL as a subsidiary of the Company effective April 1, 2025. On May 6, 2025, the Company announced the rebranding of its cybersecurity division as CYBERWELL and the appointment of Jeffrey Engle as CEO. CYBERWELL consolidates four firms: Source44, SeekIntoo, Cycura, and Proack Security into a unified cybersecurity company. The division will focus on recurring revenue, acquisitions, and international expansion. WELL noted plans for CYBERWELL to potentially be spun out in the future and serve as another growth engine. On May 7, 2025, the Company announced the launch of Nexus AI, a new AI-powered clinical documentation solution available across Canada. The product is initially focused on AI scribing and will expand through partnerships across the WELL ecosystem. Nexus AI is supported by government funding for up to 10,000 providers through Canada Health Infoway's AI Scribe pilot program. Outlook: WELL intends to continue its focus on maintaining strong performance, while strategically enhancing operations in the pursuit of organic growth and profitability. WELL is expecting its strong performance in the first quarter to continue across all its business units throughout the 2025 fiscal year. WELL's objective is to invest in and achieve significant growth while effectively managing its costs and delivering cashflow to shareholders. Management is pleased to provide its guidance for 2025 (Annual guidance only includes announced acquisitions): Annual revenue between $1.40 billion to $1.45 billion Annual Adjusted EBITDA (1) between $190 million and $210 million. Excluding the impact of the Circle Medical deferred revenue adjustment, the Company's guidance for 2025 would be as follows: Annual Revenue between $1.35 billion to $1.40 billion. Annual Adjusted EBITDA (1) between $140 million and $160 million. WELL is expecting a greater focus on leveraging product and corporate synergies in 2025, with an emphasis on the depth of product and technology offerings from WELLSTAR and HEALWELL AI. The Company also continues to focus the majority of its M&A and capital allocation activity in Canada where it is experiencing its strongest returns. Management will continue to pursue its focus on optimizing its operations for organic growth and profitability. Conference Call: WELL will release its First Quarter 2025 financial results for the period ended March 31, 2025, on Wednesday, May 14, 2025. The Company will hold a conference call and simultaneous webcast to discuss its results on the same day at 1:00 pm ET (10:00 am PT). Please use the following dial-in numbers: 1-800-717-1738 (Toll Free) 1-289-514-5100 (International). The conference call will also be simultaneously webcast and can be accessed at the following audience URL: Please see SEDAR for complete copies of the Company's condensed interim consolidated financial statements and interim MD&A for the quarter ended March 31, 2025. Footnotes: Non-GAAP financial measures and ratios. In addition to results reported in accordance with IFRS, the Company uses certain non-GAAP financial measures as supplemental indicators of its financial and operating performance. These non-GAAP financial measures include Adjusted Net Income, Adjusted Net Income Per Share, Adjusted EBITDA, Adjusted Gross Profit, Adjusted Gross Margin, and Adjusted Free Cash Flow. The Company believes these supplementary financial measures reflect the Company's ongoing business in a manner that allows for meaningful period-to-period comparisons and analysis of trends in its business. Adjusted Net Income and Adjusted Net Income per Share The Company defines Adjusted Net Income as net income (loss), after excluding the effects of stock-based compensation expense, amortization of acquired intangible assets, time-based earnout expense, change in fair value of investments, non-controlling interests, and revenue precluded from recognition under IFRS 15 that relates to certain patient services revenue that the Company believes should be recognized as revenue based on its contractual relationships. Adjusted Net Income Per Share is Adjusted Net Income divided by weighted average number of shares outstanding. The Company believes that these non-GAAP financial measures provide useful information to analyze our results, enhance a reader's understanding of past financial performance and allow for greater understanding with respect to key metrics used by management in decision making. More specifically, the Company believes Adjusted Net Income is a financial metric that tracks the earning power of the business that is available to WELL shareholders. EBITDA and Adjusted EBITDA EBITDA and Adjusted EBITDA are non-GAAP measures. EBITDA represents net income (loss) before interest, taxes, depreciation, and amortization. The Company defines Adjusted EBITDA as EBITDA (i) less net rent expense on premise leases considered to be finance leases under IFRS and (ii) before transaction, restructuring, and integration costs, time-based earn-out expense, change in fair value of investments, share of loss of associates, foreign exchange gain/loss, and stock-based compensation expense, (iii) revenue precluded from recognition under IFRS 15 that relates to certain patient services revenue that the Company believes should be recognized as revenue based on its contractual relationships, and (iv) gains/losses that are not reflective of ongoing operating performance. The Company considers Adjusted EBITDA a financial metric that measures cash that the Company can use to fund working capital requirements, service future interest and principal debt repayments and fund future growth initiatives. EBITDA and Adjusted EBITDA should not be considered alternatives to net income (loss), cash flow from operating activities or other measures of financial performance in accordance with IFRS. Adjusted EBITDA Attributable to WELL Shareholders/Non-Controlling Interests The Company defines Adjusted EBITDA attributable to WELL Shareholders (or Shareholder EBITDA) and Adjusted EBITDA attributable to Non-controlling interests as the sum of the Adjusted EBITDA for each relevant legal entity multiplied by WELL's or the non-controlling interests' equity ownership, respectively. Adjusted Gross Profit and Adjusted Gross Margin The Company defines Adjusted Gross Profit as revenue less cost of sales (excluding depreciation and amortization) and Adjusted Gross Margin as adjusted gross profit as a percentage of revenue. Adjusted gross profit and adjusted gross margin should not be construed as an alternative for revenue or net income (loss) determined in accordance with IFRS. The Company does not present gross profit in its consolidated financial statements as it is a non-GAAP financial measure. The Company believes that adjusted gross profit and adjusted gross margin are meaningful metrics that are often used by readers to measure the Company's efficiency of selling its products and services. Adjusted Free Cash Flow Attributable to Shareholders The Company defines Adjusted Free Cash Flow Attributable to Shareholders as Adjusted EBITDA Attributable to Shareholders, less cash interest, less cash taxes and less capital expenditures, and before the impacts of the revenue deferral at Circle Medical and the revenue impact at CRH Medical resulting from impaired revenue cycle management services after the Change Healthcare cyberattack. Adjusted Net income, Adjusted Net Income per Share, Adjusted EBITDA, Adjusted Gross Profit, Adjusted Gross Margin, and Adjusted Free Cash Flow Available to Shareholders are not recognized measures for financial statement presentation under IFRS and do not have standardized meanings. As such, these measures may not be comparable to similar measures presented by other companies and should be considered as supplements to, and not as substitutes for, or superior to, the corresponding measures calculated in accordance with IFRS. These growth rates are comparing periods between Q1 2025 and Q1 2024 where both periods have been impacted by the CM Deferred revenue adjustments. Excluding the impact from Circle Medical deferred revenue adjustments in both Q1-2025 and Q1-2024, WELL achieved revenue of $300.7 million in Q1-2025, an increase of 30% compared to $231.6 million in Q1-2024. Similarly, Adjusted EBITDA in Q1-2025 would have been $34.1 million, an increase of 21% compared to $28.3 million in Q1 2024. Total Care Interactions are defined as Total Visits plus Technology Interactions plus Billed Provider Hours. WELL HEALTH TECHNOLOGIES CORP. Per: 'Hamed Shahbazi' Hamed Shahbazi Chief Executive Officer, Chairman and Director About WELL Health Technologies Corp. WELL's mission is to tech-enable healthcare providers. We do this by developing the best technologies, services, and support available, which ensures healthcare providers are empowered to positively impact patient outcomes. WELL's comprehensive healthcare and digital platform includes extensive front and back-office management software applications that help physicians run and secure their practices. WELL's solutions enable more than 42,000 healthcare providers between the US and Canada and power the largest owned and operated healthcare ecosystem in Canada with more than 200 clinics supporting primary care, specialized care, and diagnostic services. In the United States WELL's solutions are focused on specialized markets such as the gastrointestinal market, women's health, primary care, and mental health. WELL is publicly traded on the Toronto Stock Exchange under the symbol 'WELL' and on the OTC Exchange under the symbol 'WHTCF'. To learn more about the Company, please visit: Forward-Looking Statements This news release may contain 'Forward-Looking Information' within the meaning of applicable Canadian securities laws, including, without limitation: information regarding the Company's goals, strategies and growth plans; expectations regarding continued revenue and EBITDA growth; the expected benefits and synergies of completed acquisitions; capital allocation plans in the form of more acquisitions or share repurchases along with their expected revenue contributions; expected patient encounters; the expected financial performance as well as information in the 'Outlook' section herein. Forward-Looking Information are necessarily based upon a number of estimates and assumptions that, while considered reasonable by management, are inherently subject to significant business, economic and competitive uncertainties, and contingencies. Forward-Looking Information generally can be identified by the use of forward-looking words such as 'may', 'should', 'will', 'could', 'intend', 'estimate', 'plan', 'anticipate', 'expect', 'believe' or 'continue', or the negative thereof or similar variations. Forward-Looking Information involve known and unknown risks, uncertainties and other factors that may cause future results, performance, or achievements to be materially different from the estimated future results, performance or achievements expressed or implied by the Forward-Looking Information and the Forward-Looking Information are not guarantees of future performance. WELL's comments expressed or implied by such Forward-Looking Information are subject to a number of risks, uncertainties, and conditions, many of which are outside of WELL 's control, and undue reliance should not be placed on such information. Forward-Looking Information are qualified in their entirety by inherent risks and uncertainties, including: adverse market conditions and the ability to complete acquisitions; risks inherent in the primary healthcare sector in general; continued patient and consumer demand for WELL's products and services; regulatory and legislative changes; that future results may vary from historical results; inability to obtain any requisite future financing on suitable terms; any inability to realize the expected benefits and synergies of acquisitions; that market competition may affect the business, results and financial condition of WELL and other risk factors identified in documents filed by WELL under its profile at including its most recent Annual Information Form. Except as required by securities law, WELL does not assume any obligation to update or revise any forward-looking information, whether as a result of new information, events or otherwise. This news release contains future-oriented financial information and financial outlook information (collectively, 'FOFI') about estimated annual run-rate revenue and Adjusted EBIDTA, all of which are subject to the same assumptions, risk factors, limitations, and qualifications as set out in the above paragraph. The actual financial results of WELL may vary from the amounts set out herein and such variation may be material. WELL and its management believe that the FOFI has been prepared on a reasonable basis, reflecting management's best estimates and judgments. However, because this information is subjective and subject to numerous risks, it should not be relied on as necessarily indicative of future results. Except as required by applicable securities laws, WELL undertakes no obligation to update such FOFI. FOFI contained in this news release was made as of the date hereof and was provided for the purpose of providing further information about WELL's anticipated future business operations on an annual basis. Readers are cautioned that the FOFI contained in this news release should not be used for purposes other than for which it is disclosed herein. Neither the TSX nor its Regulation Services Provider (as that term is defined in policies of the TSX) accepts responsibility for the adequacy or accuracy of this release.
Associated Press
08-05-2025
- Business
- Associated Press
WELL Health Reports Record Patient Visits and Total Care Interactions in Q1 2025 and Provides Date for Earnings Event
VANCOUVER, British Columbia & TORONTO--(BUSINESS WIRE)--May 8, 2025-- WELL Health Technologies Corp. (TSX: WELL, OTCQX: WHTCF) (' WELL ' or the ' Company '), a digital healthcare company focused on positively impacting health outcomes by leveraging technology to empower healthcare practitioners and their patients globally, is pleased to announce the Company will release its Fiscal First Quarter 2025 financial results for the period March 31, 2025, on Wednesday, May 14, 2025 and strong preliminary operational results for its Patient Services businesses for Q1 2025. These results include record patient visits and Total Care Interactions. Hamed Shahbazi, Founder and CEO of WELL, commented, 'We had excellent growth in our patient visits this past quarter underpinned by our Canadian clinics ecosystem. Canadian Clinics continued their rapid growth with 30% YoY growth which included 12% organic growth driven by our clinic absorption program. Our core fundamentals continue to be strong as we execute on both organic and inorganic growth consistently. We are now approaching 1 million patient visits per quarter just in Canada which we believe to be an important milestone. Our technology enabled care delivery model continues to benefit care providers who are seeing improved efficiency, reduced administrative burden and improved patient outcomes. We are very proud of and grateful to the healthcare providers and technologists working together to drive the best patient outcomes possible.' Q1 2025 Operational Results WELL Canada Clinics Annual Growth Breakdown Circle Medical Deferred Revenue Impact in 2025 In connection with the previously disclosed requirement for the Company's subsidiary Circle Medical to defer the recognition of revenue under IFRS, the net impact to WELL's Q1-2025 revenue and Adjusted EBITDA is expected to be ($6.5M). As at March 31, 2025, the Company expects to record approximately $58.4 million in deferred revenue on its consolidated balance sheet, related to patient services that have been rendered and for which payment has already been billed and collected. Q1 2025 Earnings Announcement The Company will release its Q1 2025 earnings for the period March 31, 2025, on Wednesday, May 14, 2025, and hold a conference call and simultaneous webcast to discuss its results on the same day at 1:00 pm ET (10:00 am PT). The call will be hosted by Hamed Shahbazi, Chairman and Chief Executive Officer and Eva Fong, Chief Financial Officer. Please dial in 10 minutes prior to the start of the call. Conference Call Participant Details Date: Wednesday, May 14, 2025 Time: 1:00 PM ET / 10:00 AM PT International Toll: 1-289-514-5100 North American Toll Free: 1-800-717-1738 To attend the webcast, register now or visit for details. Footnotes: WELL HEALTH TECHNOLOGIES CORP. Per: 'Hamed Shahbazi' Hamed Shahbazi Chief Executive Officer, Chairman and Director About WELL Health Technologies Corp. WELL's mission is to tech-enable healthcare providers. We do this by developing the best technologies, services, and support available, which ensures healthcare providers are empowered to positively impact patient outcomes. WELL's comprehensive healthcare and digital platform includes extensive front and back-office management software applications that help physicians run and secure their practices. WELL's solutions enable more than 41,000 healthcare providers between the US and Canada and power the largest owned and operated healthcare ecosystem in Canada with more than 200 clinics supporting primary care, specialized care, and diagnostic services. In the United States WELL's solutions are focused on specialized markets such as the gastrointestinal market, women's health, primary care, and mental health. WELL is publicly traded on the Toronto Stock Exchange under the symbol 'WELL' and on the OTC Exchange under the symbol 'WHTCF'. To learn more about the Company, please visit: Forward Looking Statements This news release contains 'Forward-Looking Information' within the meaning of applicable Canadian securities laws, including, without limitation the expectation that patient visits and Total Interactions will continue to lead the way in driving strong organic growth for the Company enterprise wide, and the anticipated impact of deferred revenue on the Company's Q1-2025 revenue and Adjusted EBITDA. Forward-Looking Information is based on a number of estimates and assumptions are inherently subject to significant business, economic and competitive uncertainties and contingencies, many of which are beyond WELL's control, which could cause actual results and events to differ materially from those disclosed in this news release. Forward-Looking Information generally can be identified by the use of forward-looking words such as 'may', 'should', 'will', 'could', 'intend', 'estimate', 'plan', 'anticipate', 'expect', 'believe', 'goal' or 'continue', or the negative thereof or similar variations. Forward-Looking Information involves known and unknown risks, uncertainties and other factors that may cause future results, performance, or achievements to be materially different from the estimated future results, performance or achievements expressed or implied by the Forward-Looking Information and the Forward-Looking Information is not a guarantee of future results or performance. WELL's comments expressed or implied by such Forward-Looking Information are subject to a number of risks, uncertainties, and conditions, many of which are outside of WELL's control, and undue reliance should not be placed on such information. Forward-Looking Information are qualified in their entirety by inherent risks and uncertainties, including, but not limited to: continued demand for in-person and telehealth medical services; new technologies functioning as expected; customers adopting and using new technologies and services as expected; the need to develop increasingly innovative products and services; competition in the industry; the retention of patients; the stability of general economic and market conditions; WELL's ability to comply with applicable laws and regulations; WELL's continued compliance with third party intellectual property rights; direct and indirect material adverse effects from adverse market conditions; risks inherent in the primary healthcare sector in general; regulatory and legislative changes; litigation risk; that future results may vary from historical results; that market competition may affect the business, results and financial condition of WELL and other risk factors identified in documents filed by WELL under its profile at including its most recent Annual Information Form and its most recent Management, Discussion and Analysis. Except as required by securities law, WELL does not assume any obligation to update or revise any forward-looking information, whether as a result of new information, events or otherwise. View source version on CONTACT: For further information: Tyler Baba Investor Relations Manager [email protected] 604-628-7266 KEYWORD: NORTH AMERICA CANADA INDUSTRY KEYWORD: GENERAL HEALTH HEALTH TECHNOLOGY HEALTH TECHNOLOGY SOFTWARE SOURCE: WELL Health Technologies Corp. Copyright Business Wire 2025. PUB: 05/08/2025 07:01 AM/DISC: 05/08/2025 07:02 AM
Yahoo
22-04-2025
- Business
- Yahoo
Rainbows and Unicorns: WELL Health Technologies Corp. (TSE:WELL) Analysts Just Became A Lot More Optimistic
WELL Health Technologies Corp. (TSE:WELL) shareholders will have a reason to smile today, with the analysts making substantial upgrades to this year's statutory forecasts. The analysts greatly increased their revenue estimates, suggesting a stark improvement in business fundamentals. This technology could replace computers: discover the 20 stocks are working to make quantum computing a reality. Following the upgrade, the latest consensus from WELL Health Technologies' 13 analysts is for revenues of CA$1.4b in 2025, which would reflect a huge 49% improvement in sales compared to the last 12 months. Statutory earnings per share are supposed to decrease 7.2% to CA$0.12 in the same period. Prior to this update, the analysts had been forecasting revenues of CA$1.2b and earnings per share (EPS) of CA$0.069 in 2025. So we can see there's been a pretty clear increase in analyst sentiment in recent times, with both revenues and earnings per share receiving a decent lift in the latest estimates. View our latest analysis for WELL Health Technologies Despite these upgrades, the consensus price target fell 6.3% to CA$7.86, perhaps signalling that the uplift in performance is not expected to last. These estimates are interesting, but it can be useful to paint some more broad strokes when seeing how forecasts compare, both to the WELL Health Technologies' past performance and to peers in the same industry. We can infer from the latest estimates that forecasts expect a continuation of WELL Health Technologies'historical trends, as the 49% annualised revenue growth to the end of 2025 is roughly in line with the 49% annual revenue growth over the past five years. Compare this with the broader industry, which analyst estimates (in aggregate) suggest will see revenues grow 12% annually. So although WELL Health Technologies is expected to maintain its revenue growth rate, it's definitely expected to grow faster than the wider industry. The biggest takeaway for us from these new estimates is that analysts upgraded their earnings per share estimates, with improved earnings power expected for this year. Fortunately, analysts also upgraded their revenue estimates, and our data indicates sales are expected to perform better than the wider market. A lower price target is not intuitively what we would expect from a company whose business prospects are improving - at least judging by these forecasts - but if the underlying fundamentals are strong, WELL Health Technologies could be one for the watch list. Still, the long-term prospects of the business are much more relevant than next year's earnings. At Simply Wall St, we have a full range of analyst estimates for WELL Health Technologies going out to 2027, and you can see them free on our platform here.. Another way to search for interesting companies that could be reaching an inflection point is to track whether management are buying or selling, with our free list of growing companies backed by insiders. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
