1. First-quarter revenue surged 56% year-over-year to $8 million. 2. Net income rose by 257%, reaching $0.7 million. 3. Innovative AI-driven solutions are increasing market interest and demand. 4. Full rollout of large-group underwriting platform expected in Q3. 5. Strong growth momentum anticipated in Q2 2025.
HIT's robust growth and profitability indicate strong market demand, similar to past successful IPOs like Lyft. Continued innovation in services suggests a competitive advantage.
Financial performance highlights significant year-over-year growth and profitability. Innovations signal future expansion potential and market competitiveness.
Sustained investment in technology and market expansion will build firm foundations for long-term growth, reminiscent of other tech firms enhancing market positions post-IPO.
an Insurtech platform company backed by third-party AI technology, today announced its financial results for the first quarter ended March 31, 2025.
"We're off to a strong start in 2025," said Tim Johnson, CEO of Health In Tech. "First-quarter revenue grew 56% over the first quarter 2024, and income before income tax reached $0.7 million—8.5% of revenue—marking a 257% increase from the same period last year."
"Our momentum continues to build post-IPO, validating the strategic initiatives we've executed. Innovations in our platform, product development, and market expansion are driving meaningful results and laying the groundwork for long-term growth. These gains reflect the strategic investments we made in 2024, particularly in product and service innovation, IT enhancements, infrastructure, cybersecurity, and internal controls. With these foundations in place, we're now scaling efficiently and reaching a wider market."
Tim continued: "Since beginning beta development of our large-group third-party AI-powered underwriting platform in November 2024, we've seen strong interest from the market. Even in its early stages, we successfully delivered solutions in Q1 to large employers, including one with over 1,000 employees. We're on track for a full rollout in Q3, marking a major milestone as we broaden our total addressable market and provide smarter, faster quoting for mid-sized and large employers."
"As we move forward, we're accelerating new program development and expanding our broker and TPA network to grow our national footprint. With a robust pipeline and sustained momentum, we expect continued strong growth in Q2 2025. We remain dedicated to delivering exceptional value, innovation, and service as we scale."
Health In Tech will host a conference call to discuss the financial results for the first quarter of 2025 on April 14, 2025 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 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.
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"). 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.
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.
Health In Tech (Nasdaq: "HIT") is an Insurtech platform company backed by third-party AI technology, which offers a marketplace that aims to improve processes in the healthcare 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, and TPAs. Learn more at healthintech.com.
(Unaudited）
| Three Months Ended March 31, | 2025 | 2024 |
|---|---|---|
| Revenues | $2,351,984 | $1,784,635 |
| Total revenues | $8,014,984 | $5,124,931 |
| Net income | $498,592 | $100,536 |
| Net income per share (Basic) | $0.01 | - |
(Unaudited）
| March 31, 2025 | December 31, 2024 | |
|---|---|---|
| Total assets | $21,330,200 | $15,768,489 |
(Unaudited）
| Three Months Ended March 31, | 2025 | 2024 |
|---|---|---|
| Net income | $498,592 | $100,536 |
While our revenue this quarter primarily comes from underwriting activities and program fees associated with customized healthcare plans for small businesses, our growth is driven by delivering solutions that streamline sales processes, enhance service delivery, and shorten the sales cycle for TPAs, MGUs, and brokers. We offer our services through our three subsidiaries.
(Unaudited）
| Three Months Ended March 31, | 2025 | 2024 | % Change |
|---|---|---|---|
| Total revenues | $8.0 | $5.1 | 56.4 % |