Health In Tech, Inc.

Good day, ladies and gentlemen. Thank you for standing by, and welcome to the Health in Tech First Quarter 2026 Earnings Conference Call. Currently, all participants are in 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 Laurie Babcock, Chief of Staff for the company. Ms. Babcock, please go ahead.

Thank you, Operator, and hello, everyone. Welcome to Health and Tech's first quarter 2026 earnings conference call. Joining us today are Mr. Tim Johnson, Chief Executive Officer, Mr. Zain Hazan, Chief Growth Officer, and Ms. Julia Chin, Chief Financial Officer. Full details of our results can be found in our earnings press release, and in a related form 10-Q to be 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 Act, Litigation Reform Act of 1995. These statements are based on information available as of today and involve risks and certainties 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 March 31, 2026, to be 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 during our call today. Except as expressly required by the 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. Tim Johnson.

Thank you, Lori. And good afternoon, everybody. We appreciate you joining us today. Before discussing the quarter, I want to take a step back and frame how we are thinking about 2026. As we discussed during last quarter's call, we are operating within a massive, opaque, self-funded stop-loss insurance market. Excuse me. According to industry estimates, as of 2025, roughly 80% of large businesses had adopted self-funded health plans. while only about 27% of medium and small businesses had. Self-funded healthcare plans allow businesses to manage their costs better with a lot of flexibility. However, the complexity has made the implementation nearly unrealistic for many businesses. Our AI-powered solutions remove barriers and make it simple and easy. The self-funded healthcare market represents nearly $1 trillion stop-loss insurance premium a year, and the total number of insurance brokers exceeds 1 million according to industry estimates. In comparison today, just about 900 distribution partners consisting primarily of insurance brokers drive the sale of self-funded plans and stop-loss policies through health and tech. Our modern information technology, in other words, our penetration of the broker pool remains well below one-tenth of 1%. which highlights the significant runway potential ahead, especially given the substantial benefits that our platform aims to deliver. Convenience, customization, cost effectiveness, clarity, and condensed time to quote. 2025 was a year in which, excuse me, we demonstrated that our model could scale meaningfully and achieve strong profitability. And our plan is for 2026 to be a year of deliberate investment in sales distribution and technology development to build our roster of distribution partners, expand our market presence, enhance our technology for new features, deliver new solutions, and accelerate long-term revenue growth. In March 2026, we completed a private investment in public equity, a PIPE, which brought us approximately $7 million in gross proceeds that will, in part, support our growth initiatives. To be clear, this capital raise was not driven by an immediate need for working capital in our view as our business remains strong from a fundamental balance sheet perspective. Rather, we identified an opportunity to broaden our shareholder base with new institutional investors through a modestly sized raise that limited dilution and provided incremental fuel for growth. We intend to prudently deploy this new capital across several targeted areas. including expanding our sales distribution network, adding new carrier partners to our platform, enhancing our technology architecture and AI development, and advancing our service offerings and product development. First, expanding sales distribution. Our business scales through distribution, with brokers serving as primary channels through which employers access self-funded health plans on eDevs, our innovative AI-powered marketplace. In 2026, we are increasing our investment in sales and marketing to expand our broker network, deepen engagement, and build a more proactive, scalable go-to-market strategy. Historically, much of our growth has been driven organically by word of mouth and through our relatively small in-house sales team. Going forward, we plan to build our sales team and complement their efforts with more structured outreach, marketing initiatives, and direct engagement within the broker community. Our chief growth officer, Zain Hassan, has more than 15 years of experience in the employee benefits and insurance industry. He is a five-time founder and a former chief executive officer who has successfully built and exited multiple companies. He brings a proven background in scaling revenue, leading both organic and inorganic growth initiatives, executing strategic acquisitions, and driving disciplined, well, disciplined value creation. We will expand on growth efforts in a bit later in the call. We believe these investments are critical to capturing a larger share of a huge market in which our current penetration remains very low despite the compelling value added benefits of our platform. Second, new carrier partners. On the other side of the platform, we will be focused on increasing the number of diversity of participating insurance carriers. I want to spend a moment explaining why adding carriers is important. Today, our platform generates bindable execution-ready quotes for employer groups through rapid underwriting that is based on career-specific, carrier-specific risk criteria. While our technology significantly improves the speed, consistency, and efficiency in the underwriting process, overall pricing to the employer reflects a combination of factors across the value chain. such as carrier's risk assessment, changes of underlying employees, health conditions, claims expense, and administrative costs. Cost variability for the employer at renewal generally boils down to the carrier's underwriting criteria and risk assessment, which can fluctuate based on changes in claims experience or shifts in carrier's risk appetite. These fluctuations can lead to less competitive pricing or limited options for the employer at renewal. even if the broker and the employer are otherwise delighted with our platform. By expanding our carrier network, we can provide brokers with greater underwriting perspectives for the same employer group, increasing the likelihood of finding a competitive and suitable option within our platform at renewal. In practical terms, more carriers means more choice for brokers, better alignment with employer needs, and ultimately a higher probability of successful placement, which we believe will drive greater platform utilization, enhanced employer stickiness, and stronger revenue growth for health and tech. Third, health and tech's next generation technology architecture and AI development. Sri Rajmangalan, our chief executive, excuse me, chief technology officer, has spent the majority of his career at SAP and IBM to the world's leading enterprise software companies where he held senior leadership roles in enterprise architecture and large-scale platform engineering. His experience spans global mission-critical systems, serving complex enterprise clients across multiple industries. As we expand our AI-enabled underwriting and benefits administration platform, Sri will strengthen our core technology foundation, enhancing scalability, data intelligence, cybersecurity, and operational resilience. Under Sri's leadership, we announced in March, 2026, we engaged Siklim, an Amazon web-based service advanced tier service partner to expand both the front and backend functionality of our technology platform. Our partnership with Siklim is off to a strong start. Together, we are implementing a more integrated technology environment while streamlining data infrastructure and reporting processes. We expect to achieve enhanced platform capabilities, administrative functions that can aid our expansion into larger employer markets. Improved integration of front and back-end workflows, consolidating quoting, underwriting, administration, and analytics into a unified platform. And lastly, an advanced data and operational reporting capabilities to deliver deeper insights and improve decision making for brokers. Third-party administrators, TPAs, managing general underwriters, carriers, and employer end-to-end clients. Fourth, advancing services and product development. To begin, I'm pleased to highlight that starting in January, we expanded our service scope with the launch of our enhanced self-funded plan administration offerings. This new model delivers pre-configured, end-to-end, self-funded health benefit solutions that bundle plan design, administration, and stop-loss coverage into a single streamlined framework. With years of experience, we have developed a comprehensive suite of more than 100 designed, customized plans, and these are curated, bundled, and directly supported by a network of specialized administrative vendors enabling us to deliver consistent, high-quality solutions while maintaining flexibility to meet specific employer needs. This also reflects an evolution in how we engage with vendors. Historically, vendors primarily accessed our platform as independent participants while our role was focused on providing infrastructure and selecting appropriate vendors. We are now moving toward a more integrated and actively managed model where we curate, bundle, and manage the vendors that compromise a self-funded health plan as part of a broader end-to-end solution. As of March 2026, these pre-configured options address the majority of employer use cases and can be rapidly deployed, significantly reducing plan design and administrative complexity. For our distribution partners, this translates into a more effective sales process. By taking a more hands-on approach to vendor management, we gain greater visibility into vendor performance, allowing us to continuously evaluate, refine, and improve the quality of our network. Over time, we believe this will help us build a best-in-class vendor ecosystem, strengthen platform differentiation, and support higher conversion and retention across our marketplace. In addition to expanding our service model, we recently rolled out a significant update to our eDIBS platform designed to make the quoting, underwriting, and communication process faster, more transparent, and more efficient for brokers. This update includes a refreshed platform interface, improved workflow design, enhanced census insights, expanded large group quoting functionality, improved underwriting status visibility, automated experience data parsing, AI-driven risk insights, and broker-to-underwriter messaging directly within the platform. These enhancements are important because they directly address many of the friction points that have historically slowed down the self-funded quoting and underwriting process. For example, our enhanced Census Insights capability helps brokers identify data quality and completeness issues before submission, which can reduce back and forth and help minimize underwriting delays. While our platform already supports large group quoting, the latest enhancements improve the workflow around larger and more complex cases, including better handling of census data, experience data, and underwriting communication. We have also introduced broker to underwrite messaging. This keeps communications, files, and updates tied directly to each opportunity rather than scattered across disconnected email threads. Early feedback from the brokers has been very positive, particularly around the new messaging feature and overall workflow improvements. Brokers have responded well to having communications, files, and updates tied directly to each opportunity rather than managed through disconnected email chains. We are also hearing positive feedback on the RFP or request for proposal and document upload automation functions, with brokers noting that the process feels smoother, requires less feedback and force, and reduces manual steps. While the enhanced Census Insight tool continues to be well received, the strongest reaction so far has been around the broader efficiency improvements across the platform. Brokers are noticing the impact immediately in their day-to-day workflow, which we view as an encouraging sign for adoption and continued platform engagement. Overall, these updates reflect our broader strategy of continuously enhancing the eDevs platform to reduce manual work, improve visibility, and support faster, more accurate quoting and underwriting outcomes. We believe these capabilities will further strengthen broker adoption, improve partner productivity, and support scalability within our marketplace. Among new offerings currently under development, we're making significant progress with our three-year rate stabilization program. We expect to complete market testing of this program late in the second quarter into the third quarter of 2026. This program is designed to address pricing volatility and provide greater cost predictability for employer groups, which we believe is a key differentiator in the market. Governmental agencies and municipalities, among many others, stand out as a logical candidate for our three-year rate stabilization program. In addition, in the second quarter of 26, we anticipate commencing initial beta testing of a new data-driven solution that integrates psychological data, and claims data to generate actionable value insights for partners in our ecosystem and business employer end-to-end clients. I'm incredibly excited about the growth journey in front of us. We are addressing a vast market opportunity in self-funded health insurance with a comprehensive strategy to expand our ecosystem and democratize self-funded health insurance for all employers regardless of size. Based on our current operating momentum and growing pipeline, we are reiterating our guidance for full year 2026 revenue of between 45 and 50 million, representing approximately 35% to 50% year-over-year growth. Before Julia reviews our first quarter financial results, I'll turn it over to Zane, who will provide some additional data, additional detail on how we are scaling our sales and distribution strategy.