Health In Tech, Inc.

Good day, ladies and gentlemen. Thank you for standing by and welcome to the Health in Tech fourth quarter and full year 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 for the company. Ms. Babcock, please proceed.

Lori Babcock Thank you, Operator, and hello, everyone. Welcome to Health and Tech's fourth quarter and full year of 2025 Earnings Conference Call. Joining us today are Mr. Tim Johnson, Chief Executive Officer, and Ms. Julia Chin. Chief Financial Officer. Full details of our results can be found in our earnings press release and in our related form 10-K filed with the SEC. These documents will be available on our investor relations website at healthandtech.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 annual report on Form 10-K for the period ended December 31, 2025, filed with the SEC. Please review the forward-looking and cautionary statement section at the end of our earnings release for various factors that could cause actual results to differ materially from forward-looking statements made today during our call. Except as expressly required by federal securities laws, 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 purposes only. Our GAAP results and reconciliations of GAAP to non-GAAP measures can be found in our earnings press release. With that, I will now turn the call over to our CEO, Mr. Johnson.

Thank you, Laurie, and good afternoon, everyone. We appreciate you joining us today. 2025 was a pivotal year for health and tech. It marked our first year as a public company. But more importantly, it was a year in which we demonstrated that our AI-enabled underwriting marketplace, distribution-led growth model, and technology platform can scale within a large, underpenetrated, self-funded health insurance market. For the full year 2025, revenue increased 71% to $33.3 million, reflecting strong execution across our core growth drivers. When we look at what drove the this performance, three factors stand out. Distribution expansion, platform advancement, and program innovation. First, distribution. Our business scales through distribution, with brokers and TPA serving as the primary channel through which employers access self-funded health plans. As a result, the breadth and productivity of our distribution network are directly correlated with our growth trajectory. In 2025, we expanded our network to 858 brokers, TPAs, and agency partners representing a 34% year-over-year increase. Importantly, we believe we remain at a very early stage of market penetration. There are approximately 1.1 million insurance brokers in the United States, and even over 800 distribution partners in our platform, our penetration remains well below 1 tenth of 1%. Similarly, within an estimated $0.9 trillion of self-funded healthcare market, our current scale represents only a fraction of the total addressable opportunity. The key takeaway is that while we deliver strong growth in 2025, we believe that the long-term runway for expansion remains substantial, particularly as we continue to scale distribution and increase engagement across our partner network. Second, platform development. A core inefficiency in this industry is that underwriting remains highly manual, time-intensive, and difficult to scale, particularly in a large employer segment. In 2025, we expanded our enhanced do-it-yourself benefit systems, or EDEBs, to support employers with over 100 employees, extending our capabilities beyond the small group market where we initially established strong product market fit. This is a meaningful step up market larger group and underwriting is characterized by long sales cycles fragmented workflows and significant operational friction. Our platform addresses the challenges by compressing underwriting timelines for larger employers with approximately three months. To roughly two weeks, which enhances broker productivity improves the client experience and increases placement efficiency. We believe the speed and automation represent a durable competitive advantage, particularly as the market increasingly demands faster data-driven decision-making. Before I move on, I want to address one of the most important questions we hear from investors. What is our AI advantage and why is it not easily replicable? The short answer is that our advantage is not just that AI model itself, It is the combination of proprietary data and integrated workflow and distribution. On data, we have been applying AI within our platform since 2021, well before AI became a headline thing. Because we operate within employer-sponsored insurance, we have built a HIPAA-governed data set tied directly to real underwriting activity and plan design structures, rather than relying on generic or publicly available healthcare data. As employer groups renew over time, we continuously incorporate new cohorts and real-world outcomes, which allows our models to improve through ongoing feedback loops embedded in actual production environments. On workflow, many solutions in the market focus on narrow point applications of AI. For example, automating a single administrative function or a discrete vendor process. While those tools can provide incremental efficiency, they do not address the broader structural inefficiencies in the system. What we have built is a fully integrated platform that connects underwriting, plan design, stop loss, administration, and vendor coordination in a single workflow. This enables brokers to move from quotes to bindable, execution-ready solution significantly faster while reducing fragmentation for employers. In other words, our AI is most valuable because it is embedded within an operating marketplace, not deployed as a standalone tool. On distribution, technology alone is not sufficient. Distribution is critical. We have established growing network of brokers, TPAs, and carrier integrations actively using the platform, and that real-world uses drives continuous data generation, improves model performance, increases platform stickiness over time. As we scale, The data becomes richer, the workflow becomes more efficient, and the competitive advantage compounds. Third, program development. We continue to advance our three-year rate stabilization program, which is designed to address one of the most persistent challenges in the employer-sponsored healthcare space. Pricing volatility. Employers are increasingly focused on predictability while brokers are seeking solutions to improve retention and simplify long-term planning. Our program is structured to provide greater pricing stability over a multi-year period, supported by a fixed remittance framework and stop-loss protection. Strategically, we believe this offering can deepen client relationships, improve retention, and support expansion into larger employer segments, where budgeting stability is a critical decision factor. Now let's talk about 2026 strategic priorities and outlets. As we move into 2026, our priorities remain focused on scaling the platform and accelerating adoption. First, we will continue to expand our distribution footprint. Second, we're continuing to invest in platform development and AI capabilities with the goal of evolving into a fully integrated marketplace that extends beyond underwriting to include claims administration, cost containment solutions, and broader plan management capabilities. In January, 2026, we enhanced the platform to offer more than 100 pre-configured customized stop-loss programs, translating complex underwriting and plan design into a scalable, repeatable framework. This drives shorter sales cycles, improved conversion visibility, and greater scalability while maintaining flexibility over the employer-specific needs. We are providing full-year 2026 revenue guidance of 45 to 50 million, representing approximately 35% to 50% year-over-year growth. Our confidence is supported by our ability to compress time to revenue, enabling new features to scale within one to two quarters compared to 12 to 24 months in traditional insurance environments. We are also strengthening our technology foundation through our partnerships with CICLIM, an AWS advanced tier service provider. We are building more integrated AI-driven platforms. And with that, I'll turn it over to Julia Chen, our CFO.