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Health In Tech, Inc.
7/21/2025
Good day, ladies and gentlemen. Thank you for standing by, and welcome to the Health and Tech second quarter of 2025 earnings conference call. Currently, all participants are in a listen-only mode. Later, we will conduct a question and answer session, and instructions will follow at that time. As a reminder, we are recording today's call. If you have any objections, you may disconnect at this time. Now, I will turn the call over to Lori Babcock, Chief of Staff of the company. Ms. Babcock, please proceed.
Thank you, Operator, and hello, everyone. Welcome to the Health and Tech's second quarter of 2025 Earnings Conference Call. Joining us today are Mr. Tim Johnson, Chief Executive Officer, Mr. Dustin Plantholt, Chief Growth Officer, and Ms. Julia Chen, Chief Financial Officer. Full details of our results can be found in our earnings press release and in our related form 10-Q to be filed with the SEC. These documents will be available on our investor relations website at healthintech.investorroom.com. As a reminder, today's call is being recorded and a replay will be available on our IR website as well. Before we continue, please note that today's discussion includes forward-looking statements made pursuant to the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. These statements are based on information available as of today and involve risks, uncertainties, and assumptions that could cause actual results to differ materially from those expressed or implied, including those discussed in our quarterly report on Form 10-Q for the period ended June 30, 2025, to be filed with the SEC. Please review the forward-looking and cautionary statements section at the end of our earnings earnings release for various factors that could cause actual results to differ materially from forward-looking statements made during our call today. We undertake no obligation to update and expressly disclaim the obligation to update these forward-looking statements to reflect events or circumstances after the date of this call or to reflect new information or the occurrence of unanticipated events. We may also refer to certain financial measures not in accordance with generally accepted accounting principles, such as adjusted EBITDA for comparison purpose only. Our GAAP results and reconciliations of GAAP to non-GAAP measures can be found in our earnings release. With that, I now turn the call over to our CEO, Mr. Tim Johnson. Tim?
Thank you, Lori. Good afternoon, everyone, and thank you for joining us. I'm incredibly proud to share the results of another truly exceptional quarter for health and tech. Our performance in Q2 2025 underscores the power of our strategic vision and the relentless execution of our team. We delivered a remarkable $9.3 million in total revenue for the quarter, an 86% year-over-year increase. This isn't just growth. It's an acceleration that positions us for for a monumental year. To put this in perspective, our first half revenues of $17.3 million already represent a staggering 89% of our entire 2024 fiscal year total. We're not only meeting our goals, we are redefining our trajectory. This success is a direct result of our innovative approach to market expansion. We've strategically broadened our distribution network, reaching 778 partners, an impressive 87% increase year-over-year. This expansion goes far beyond traditional broker channels. We are actively forging partnerships with cutting-edge third-party administrators, offering technology-driven solutions, forward-thinking regional healthcare benefit providers, and service platforms that cater to unique needs of small businesses. This diversified approach is rapidly expanding our market reach and, more importantly, delivering exceptional value to our customers. The demand for our differentiated services is evident in the 30% increase in billed enrolled employees, now at 24,839. This goes beyond adding numbers. It's about deep adoption across our growing network. Our partners are increasingly leveraging our AI-powered platform to bundle healthcare and insurance seamlessly with their existing services, offering integrated end-to-end solutions that truly empower small business employers. This is the future of benefits, and we are leading the charge. We've moved beyond just providing services. We are enabling our partners to become comprehensive solution providers. Our platform's ease of implementation and intuitive design make it an indispensable tool for our partners seeking efficiency, scalability, and significantly competitive edge. With dramatically broader distribution footprint and multiple high impact new relationships firmly in place, We are pleased with the growth, momentum, and low sales season. As most businesses change their health insurance in January first quarter or December fourth quarter, the second quarter and third quarter are typically slow seasons. We are able to make a significant stride in the strategic partnership expansion in TPA broker agencies and large benefit platform companies. In the second quarter, we have welcomed multiple large high-profile brokerage firms and TPA regional employer benefit providers and service platforms focusing on serving small businesses we're able to create some specialized services that save costs for the small businesses through leveraging the distribution partners significant ecosystem for example one of our tpas vertiguard is owned by med impact the largest independent pharmacy benefit manager in the u.s med impact manages prescription benefits for more than 20 million members processing $40 billion in annual drug transactions, which benefits our customers by providing lower drug costs. Our enhanced eDIPS platform with automated large group underwriting tools is on track to be fully launched in Q3. We're excited to get partners trained as soon as the enhanced platform is developed. In parallel, we are gearing up to develop a few new product offerings that are expected to be beta tested at the end of third quarter. the service offering would be a breakthrough in healthcare insurance market. With strategic partnership expansion, continued technology enhancement, and product innovation, we're confident in our ability to maintain a strong growth momentum. Now I'll turn it over to our Chief Growth Officer, Dustin Plantholt, to provide more color on our strategic partnership. Dustin?
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