WELL Health Technologies Corp
TSX:WELL

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WELL Health Technologies Corp
TSX:WELL
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Price: 3.88 CAD -0.51% Market Closed
Market Cap: 985.2m CAD

WELL Health Technologies Corp
Investor Relations

In the digital age of healthcare, WELL Health Technologies Corp. emerges as a quiet but formidable innovator, weaving technology and wellness into a comprehensive ecosystem. Founded in 2010, the company has grown from its Canadian roots to become a major player in the health-tech landscape, driven by a mission to modernize and improve healthcare access. WELL Health operates primarily within the electronic medical records (EMR) sector, offering physicians and clinics a seamless transition from traditional paper-based systems to robust digital platforms. With a series of strategic acquisitions, WELL has expanded its portfolio to include telehealth services, medical services, and digital health applications, effectively building an integrated network that caters to both healthcare providers and patients. This blend of services positions WELL Health as a pioneer in overhauling how healthcare systems interact with technology, thereby laying the groundwork for a more efficient, patient-centric approach.

WELL Health Technologies generates revenue through a multifaceted business model that hinges on its diverse array of service lines. The company earns by licensing its EMR software to clinics and practitioners, ensuring a steady stream of recurring revenue. Additionally, its telehealth services, which provide virtual healthcare consultations, have gained traction, especially amid the increased demand for remote healthcare solutions. The acquisition strategy further enriches WELL’s revenue sources, allowing it to tap into various niche markets such as cybersecurity for healthcare data and provider billing services. These services not only diversify WELL Health’s income streams but also enhance the value proposition to its users by offering a one-stop shop for healthcare solutions. Through a carefully orchestrated expansion, WELL Health Technologies continues to redefine the synergy between health and technology, anchoring itself firmly as a vital conduit in the ever-evolving healthcare domain.

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Last Earnings Call
Fiscal Period
Q3 2025
Call Date
Nov 6, 2025
AI Summary
Q3 2025

Record Revenue: WELL Health reported Q3 2025 revenue of $364.6 million, up 56% year-over-year, with record results across multiple operating segments.

Profitability Surge: Adjusted EBITDA jumped 296% to $59.9 million, driven partly by deferred revenue from Circle Medical and strong operational performance.

Margin Improvement: Gross margin improved by 510 basis points to 45.5%, and adjusted EBITDA margin rose by 990 basis points year-over-year.

Guidance Reaffirmed: Management reaffirmed 2025 revenue guidance of $1.4–$1.45 billion and expects annual adjusted EBITDA to hit the upper half of $190–$210 million.

M&A Pipeline: The company has a robust M&A pipeline, with $235 million in Canadian clinics under LOI and over $350 million in targeted annual revenue pipeline.

US Divestitures: Strategic review of US assets (WISP, Circle Medical, CRH) is ongoing, with at least one sale targeted by year-end.

WELLSTAR Spin-Out: WELLSTAR secured $62 million in equity financing at a premium valuation, with an IPO targeted for early 2026.

Operational Expansion: Canadian clinics visit volume and provider count continue to rise, with strong organic growth and efficiency gains.

Key Financials
Revenue
$364.6 million
Adjusted EBITDA
$59.9 million
Gross Margin
45.5%
Adjusted Net Income
$41 million
Adjusted Net Income Per Share
$0.16
Free Cash Flow Attributable to Shareholders
$15.1 million
Cash and Cash Equivalents
$82.5 million
Debt (WELL credit lines)
CAD 347 million
Debt (HEALWELL credit line)
$49 million
Canadian Clinics Revenue (YTD)
$325.3 million
Canadian Clinics Adjusted EBITDA (YTD)
$45.7 million
Canadian Clinics Patient Visits (Q3)
1.08 million
Canadian Clinics Billable Providers (Q3)
2,068
Patient Visits Per Billable Provider (Canadian Clinics, Q3)
524
WELL Canada Revenue (Q3)
$129.3 million
WELL Canada Adjusted EBITDA (Q3)
$21 million
WELLSTAR Revenue (Q3)
$18.3 million
WELLSTAR Adjusted EBITDA (Q3)
$6.4 million
WELLSTAR Monthly Recurring Revenue (MRR, Q3)
$5.5 million
HEALWELL Revenue (Q3)
$30.4 million
HEALWELL Adjusted EBITDA (Q3)
$700,000
WISP Revenue (Q3)
$30.3 million
WISP Adjusted EBITDA (Q3)
$1.3 million
Circle Medical Revenue (Q3)
$42 million
Circle Medical Deferred Revenue (Q3)
$17.6 million
Circle Medical Adjusted EBITDA (Q3, excl. deferred revenues)
$4.8 million
CRH Revenue (Q3)
$125.1 million
CRH Adjusted EBITDA (Q3)
$22.7 million
Total Care Interactions (Q3)
2.7 million
System-wide Patient Visits (Q3)
1.7 million
Share Buybacks (YTD as of Nov 5, 2025)
297,000 shares
Earnings Call Recording
Other Earnings Calls

Management

Mr. Hamed Shahbazi B.Sc.
Founder, Chairman & CEO
No Bio Available
Ms. Eva Fong
Chief Financial Officer
No Bio Available
Mr. Amir Javidan
Chief Operating Officer
No Bio Available
Mr. James T. Kreger
CEO of WELL Health USA & CRH Medical
No Bio Available
Mr. Beemal Shah
COO of CRH Medical Corporation
No Bio Available
Mr. Pardeep S. Sangha M.B.A.
Vice President of Corporate Strategy & Investor Relations
No Bio Available
Mr. Brian Eric Levinkind
Senior Vice President of Corporate Development
No Bio Available
Mr. Chris Ericksen
Senior Vice President of Strategic Partnerships & Marketing
No Bio Available
Mr. Shane Joseph Sabatino
Chief People Officer
No Bio Available
Dr. Michael Frankel
Chief Medical Officer
No Bio Available

Contacts

Address
BRITISH COLUMBIA
Vancouver
Suite 550 - 375 Water Street
Contacts
+16046287266.0
www.well.company