Upgrade to SI Premium - Free Trial

Health In Tech Announces Fourth Quarter and Full Year 2025 Financial Results

March 25, 2026 4:05 PM
  • Full year 2025 Revenues of $33.3 million, up 71% YoY
  • Full year 2025 Adjusted EBITDA of $4.1 million, up 81% YoY

STUART, Fla., March 25, 2026 /PRNewswire/ -- Health In Tech, Inc. (Nasdaq: HIT) ("Health In Tech" or "Company"), an AI-enabled InsurTech platform company, today announced its financial results for the fourth quarter and full year ended December 31, 2025.

Financial Highlights for the Full Year 2025 and Fourth Quarter of 2025:

  • Revenues. Full year 2025 revenues were $33.3 million, up 71% year over year ("YoY"). Q4 revenues were $7.5 million, up 53% YoY.
  • Adjusted EBITDA. Full year 2025 Adjusted EBITDA was $4.1 million, up 81% YoY, Q4 Adjusted EBITDA of $0.3 million compared to prior year Q4 Adjusted EBITDA of $0.5 million.
  • Net Income. Full year 2025 net income was $1.3 million, up 91% YoY, Q4 net loss of $0.3 million compared to prior year Q4 net loss of $0.1 million.
  • Billed Enrolled Employees. The number of billed enrolled employees (EEs) was 22,515 as of December 31, 2025, up 23% YoY.
  • Distribution. The number of Brokers, Third-party Administrator ("TPAs") and Agencies expanded to 858 partners as of December 31, 2025, up 34% YoY.
  • Cash. Cash balance was $7.7 million as of December 31, 2025.

Revenue Outlook

Health In Tech expects full-year 2026 revenue to be in the range of $45 million to $50 million, representing year-over-year growth of approximately 35% to 50%. This outlook is based on management's current expectations and assumptions, including continued strong demand for the Company's AI-enabled underwriting marketplace across the self-funded health insurance segment and successful deployment of new features. Actual results may differ materially due to risks and uncertainties described in Health In Tech's filings with the SEC.

The Company expects continued growth driven by expanding engagement across its distribution network and the full deployment of new features launched in January 2026. Unlike the traditional insurance industry, where new product and service implementations typically require one to two years, Health In Tech's AI-driven platform enables new capabilities to be developed and deployed within approximately one to two quarters. This accelerated development cycle provides a meaningful competitive advantage, allowing the Company to respond quickly to broker and client demand, continuously enhance its marketplace offerings, and scale its technology platform more efficiently than traditional market participants.

CEO Commentary

Tim Johnson, Chief Executive Officer of Health In Tech, commented, "2025 was a defining year of disciplined execution and measurable platform scale for Health In Tech. We strengthened our AI-enabled underwriting marketplace, expanded carrier, broker, and TPA integrations, and further automated core insurance workflows to drive efficiency and margin scalability. We extended underwriting capabilities into larger employer segments and continued enhancing our technology architecture to support enterprise-level throughput across the approximately $300 billion U.S. claims administration market. Most importantly, we translated operational progress into financial performance, delivering 71% year-over-year revenue growth."

Mr. Johnson continued, "As we enter 2026, our focus is on advancing a fully integrated marketplace model that expands beyond underwriting to include additional services such as claims administration and administrative cost-containment solutions. Building on years of assembling specialized healthcare vendors and service providers essential to self-funded plans, we enhanced our platform in January 2026 to offer more than 100 pre-configured, customized stop-loss programs tailored at the broker-agency level. This structured program architecture enables agencies to align standardized offerings with target employer segments, empowering brokers to deliver execution-ready solutions with greater speed, consistency, and operational efficiency. The result is shorter sales cycles, improved conversion visibility, and scalable distribution leverage, while maintaining the flexibility to customize for employer-specific needs.

"In the first half of 2026, we expect to complete market testing of our Three-Year Rate stabilization program, designed to provide cost stability and predictability for eligible employer groups. We also plan to initiate beta testing of a new data-driven solution that integrates physiological data and claims data to generate actionable value insights. Together, these initiatives reflect our strategy of layering incremental, high-value services onto an already commercialized and scalable platform to drive durable growth and increasing operating leverage."

Key Developments in Q1 2026

  • Engaged Amazon Web Services (AWS) Advanced Tier Services Partner Ciklum to accelerate development of Health In Tech's AI-Driven InsurTech platform.
  • Appointed former SAP and IBM executive Sri Rajagopalan as Chief Technology Officer to advance AI-driven Enterprise-Grade platform growth.
  • Appointed five-time founder Zain Hasan as Chief Growth Officer to accelerate revenue growth and scale distribution.
  • Introduced 100+ pre-configured stop-loss self-funded healthcare plans for employers, streamlining the renewal process and reducing cycle times.
  • Hosted the inaugural independent hitDavos InsurTech Summit during World Economic Forum Week 2026, driving brand visibility and global leadership engagement across the government, technology, healthcare, and finance sectors.

Conference Call Details

Health In Tech will host a conference call to discuss the financial results for the fourth quarter and full year of 2025 on March 25, 2026, at 5:00 p.m. (ET). To participate in our live conference call and webcast, please dial 1-888-346-8982 or 1-412-902-4272 (for international participants).

A live audio webcast will be available via the Investor Relations page of Health In Tech's website at https://healthintech.com/. A replay of the webcast will be available for on-demand listening shortly after the completion of the call, at the same web link, and will remain available for approximately 90 days.

Non-GAAP Financial Information

This release presents Adjusted EBITDA, a non-GAAP financial metric, which is provided as a complement to the results provided in accordance with accounting principles generally accepted in the United States of America ("GAAP"). Management uses Adjusted EBITDA to provide investors with additional insight into operational performance and to facilitate comparison with other companies in the industry. Adjusted EBITDA should not be considered an alternative to net income, operating income, or other GAAP measures. A reconciliation of historical non-GAAP financial information to the most directly comparable GAAP financial measure is provided in the accompanying tables found at the end of this release.

Use of Forward‑Looking Statements

Certain statements in this press release are forward-looking statements for purposes of the safe harbor provisions under the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements may include estimates or expectations about Health In Tech's possible or assumed operational results, financial condition, business strategies and plans, market opportunities, competitive position, industry environment, and potential growth opportunities. In some cases, forward-looking statements can be identified by terms such as "may," "will," "should," "design," "target," "aim," "hope," "expect," "could," "intend," "plan," "anticipate," "estimate," "believe," "continue," "predict," "project," "potential," "goal," or other words that convey the uncertainty of future events or outcomes. These statements relate to future events or to Health In Tech's future financial performance, and involve known and unknown risks, uncertainties and other factors that may cause Health In Tech's actual results, levels of activity, performance, or achievements to be different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. You should not place undue reliance on forward-looking statements because they involve known and unknown risks, uncertainties and other factors which are, in some cases, beyond Health In Tech's control and which could, and likely will, affect actual results, levels of activity, performance or achievements. Any forward-looking statement reflects Health In Tech's current views with respect to future events and is subject to these and other risks, uncertainties and assumptions relating to Health In Tech's operations, results of operations, growth strategy and liquidity.

About Health In Tech

Health In Tech, Inc. (Nasdaq: "HIT") is an AI-enabled InsurTech platform company, which offers a marketplace that improves processes in the health insurance industry through vertical integration, process simplification, and automation. By removing friction and complexities, we streamline the underwriting, sales and service process for insurance companies, licensed brokers, Managing General Underwriter (MGUs) and third-party administrators ("TPAs"). Health In Tech's platform serves as a marketplace for brokers, TPAs, MGUs and carriers to access self-funded health insurance for employers, providing functions including customized self-funded health plans, bindable stop-loss quotes, AI-enabled underwriting, claims administration and reporting integration. Learn more at healthintech.com.

Health In Tech, Inc.

Consolidated Statements of Operations




Three Months Ended
December 31,


Fiscal Year Ended

December 31,




2025


2024


2025


2024


Revenues












Revenues from underwriting modeling
(ICE)


$1,032,381


$1,697,080


$6,864,545


$6,649,271




Revenues from fees


6,476,204


3,207,484


26,462,966


12,841,635




SMR


6,476,204


2,470,284


26,462,966


9,849,300




HI Card


-


737,200


-


2,992,335




Total revenues


7,508,585


4,904,564


33,327,511


19,490,906




Cost of revenues


3,379,942


1,107,173


12,389,783


4,051,439




Gross profit


4,128,643


3,797,391


20,937,728


15,439,467




Operating expenses












Sales and marketing expenses


906,206


632,060


4,185,766


3,158,257




General and administrative expenses


3,180,137


2,848,014


13,654,262


8,477,407




Research and development expenses


213,113


633,653


1,569,262


2,813,899




Total operating expenses


4,299,456


4,113,727


19,409,290


14,449,563




Other income (expense):












Interest income


104,659


28,774


409,922


122,885




Interest expenses


-


-


-


(495,000)




Other income


-


114,055


118,399


271,211




Other expense


(377,587)


62,759


(382,587)


-




Total other income (expense), net


(272,928)


205,588


145,734


(100,904)




Income (loss) before income tax
expense


$(443,741)


$(110,748)


$1,674,172


$889,000




Provision for income taxes


141,184


(33,404)


(395,330)


(218,523)




Net income (loss)


$(302,557)


$(144,152)


$1,278,842


$670,477




Net income per share












Basic


$(0.01)


$(0.00)


$0.02


$0.01




Diluted


$(0.01)


$(0.00)


$0.02


$0.01




Weighted average common stocks
outstanding












Basic


56,908,999


52,047,723


55,843,821


51,839,329




Diluted


58,635,562


54,662,931


57,742,798


53,662,677




Health In Tech, Inc.

Consolidated Balance Sheets




December 31, 2025


December 31, 2024


Assets







Current assets







Cash and cash equivalents


$7,669,754


$7,849,248



Accounts receivable, net


756,288


1,647,103



Loans receivable, net


815,995


-



Other receivables, net


3,467,814


500,252



Deferred offering costs


170,977


-



Prepaid expenses and other current assets


3,280,148


787,161



Total current assets


16,160,976


10,783,764



Non-current assets







Software


6,530,894


3,962,461



Loans receivable, net


-


815,995



Operating lease - right of use assets


139,940


206,269



Long-term prepaid expenses


258,151


-



Total non-current assets


6,928,985


4,984,725



Total assets


$23,089,961


$15,768,489



Liabilities and stockholders' equity







Current liabilities







Accounts payable and accrued expenses


$4,188,811


$1,858,840



Income taxes payable


-


205,253



Operating lease liabilities - current


76,195


66,881



Other current liability


891,598


-



Total current liabilities


5,156,604


2,130,974



Non-current liabilities







Deferred tax liabilities


757,675


328,676



Operating lease liabilities - non-current


63,617


139,811



Total non-current liabilities


821,292


468,487



Total liabilities


5,977,896


2,599,461



Stockholders' equity







Common stock, $0.001 par value; Class A Common
stock 150,000,000 shares authorized 46,006,000 and
42,914,870 shares issued and outstanding as of
December 31, 2025 and December 31, 2024,
respectively


46,006


42,915



Common stock, $0.001 par value; Class B Common
stock 50,000,000 shares authorized, 11,700,000
shares issued and outstanding as of December 31,
2025 and December 31, 2024, respectively


11,700


11,700



Additional paid-in capital


11,834,121


9,173,017



Retained earnings


5,220,238


3,941,396



Total stockholders' equity


17,112,065


13,169,028



Total liabilities and stockholders' equity


$23,089,961


$15,768,489



Health In Tech, Inc.

Consolidated Statements of Cash Flows




Fiscal Year Ended December 31,



2025


2024

CASH FLOWS FROM OPERATING ACTIVITIES:






Net income


$1,278,842


$670,477


Adjustments to reconcile net income to net cash provided by
(used in) operating activities:






Bad debt expense (recovery)


(16,234)


1,878


Amortization expense


900,577


541,141


Provision for refund liability


3,891,598


-


Provision for credit losses on other receivables


377,587


-


Deferred tax expenses (benefits)


428,999


(93,304)


Amortization of debt discount


-


495,000


Interest income


(64,000)


(63,996)


Stock-based compensation expense


1,570,419


468,489


Changes in operating assets and liabilities:






Accounts receivable


907,049


586,685


Other receivables


(3,345,149)


1,180,848


Prepaid expenses and other assets


(1,948,184)


(514,242)


Operating lease right of use assets and liabilities, net


(551)


1,889


Accounts payable and accrued expenses


2,358,113


(851,963)


Income taxes payable


(205,253)


(246,693)


Other current liabilities


(3,000,000)


-


Net cash provided by operating activities


3,133,813


2,176,209


CASH FLOWS FROM INVESTING ACTIVITIES:






Development of software


(3,189,921)


(900,755)


Interest received from loans receivable


64,000


64,000


Net cash used in investing activities


(3,125,921)


(836,755)


CASH FLOWS FROM FINANCING ACTIVITIES:






Proceeds from issuance of common stock in connection with
initial public offering, net of underwriting discounts and
commissions


-


8,214,000


Proceeds from stock option exercises


23,430


-


Payments of deferred offering costs


(210,816)


(1,975,556)


Repayments of notes payable


-


(2,145,000)


Net cash provided by (used in) financing activities


(187,386)


4,093,444


Increase (decrease) in cash and cash equivalents


(179,494)


5,432,898


Cash and cash equivalents, beginning of year


7,849,248


2,416,350


Cash and cash equivalents, end of year


7,669,754


7,849,248


Supplemental disclosures of cash flow information:






Cash paid for interest


$-


$-


Cash paid for income taxes


$830,726


$558,521


Summary of noncash investing and financing activities:






Accrued deferred offering costs included in accounts
payable and accrued expenses


$-


$39,839


Accrued development of software included in accounts
payable and accrued expenses


$38,363


$50,000


Reclassification of deferred offering costs to additional paid-
in capital upon initial public offering


$-


$2,277,164


Stock-based compensation capitalized for software
development


$290,726


$-


Health In Tech, Inc.

Reconciliation of GAAP (Net Income) to Non-GAAP Financial Measure (Adjusted EBITDA)




Three Months Ended

December 31,


Fiscal Year Ended

December 31,



2025


2024


2025


2024

Net income


(302,557)


(144,152)


1,278,842


670,477

Interest (income) expenses


(104,659)


(28,774)


(409,922)


372,115

Amortization expense


410,630


135,983


900,577


541,141

Income tax expense


(141,184)


33,404


395,330


218,523

Stock-based compensation expense


76,733


468,489


1,570,419


468,489

Provision for credit losses on other
receivables


377,587


-


377,587


-

Total net adjustments


619,107


609,102


2,833,991


1,600,268










Adjusted EBITDA


316,550


464,950


4,112,833


2,270,745

Investor Contact:
Health In Tech Investor Relations
[email protected]

The Equity Group
Kalle Ahl, CFA
T: (303) 953-9878
[email protected]

Devin Sullivan, Managing Director
[email protected]

Cision View original content to download multimedia:https://www.prnewswire.com/news-releases/health-in-tech-announces-fourth-quarter-and-full-year-2025-financial-results-302725203.html

SOURCE Health In Tech Inc.

Categories

PRNewswire Press Releases