- 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.
CEOCommentary
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 Fiscal Year Ended
December 31,
December 31,
2025 2024 2025 2024
Revenues
Revenues from underwriting modeling $1,032,381 $1,697,080 $6,864,545 $6,649,271
(ICE)
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 $(443,741) $(110,748) $1,674,172 $889,000
expense
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 46,006 42,915
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
Common stock, $0.001 par value; Class B Common 11,700 11,700
stock 50,000,000 shares authorized, 11,700,000
shares issued and outstanding as of December 31,
2025 and December 31, 2024, respectively
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 8,214,000
initial public offering, net of underwriting discounts and
commissions
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
$- $39,839
payable and accrued expenses
Accrued development of software included in accounts $38,363 $50,000
payable and accrued expenses
Reclassification of deferred offering costs to additional paid-
$- $2,277,164
in capital upon initial public offering
Stock-based compensation capitalized for software $290,726
$-
development
Health In Tech, Inc.
Reconciliation of GAAP (Net Income) to Non-GAAP Financial Measure (Adjusted EBITDA)
Three Months Ended Fiscal Year Ended
December 31, 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 377,587 377,587
receivables
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
ir@healthintech.com
The Equity Group
Kalle Ahl, CFA
T: (303) 953-9878
kahl@theequitygroup.com
Devin Sullivan, Managing Director
dsullivan@theequitygroup.com
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SOURCE Health In Tech Inc.
