HealWELL AI Inc.

Hello, and welcome to the HealWell AI fourth quarter 2025 financial results call. All lines have been placed on mute to prevent any background noise. After the speaker's remarks, there will be a question and answer session. If you would like to ask a question during this time, simply press star, followed by the number one on your telephone keypad. If you would like to withdraw your question, simply press star one again. I'll now turn the conference over to Hitham Sane, Investor Relations at HealWell. Please go ahead.

Hello, and thank you, Operator. Joining me on the call today are James Lee, CEO of Hewell, Dr. Alexander Dobronovsky, President of Hewell, and Anthony Lamb, Hewell CFO. I trust that everyone has received a copy of our financial results press release that was issued yesterday. Listeners are also encouraged to download a copy of our quarterly financial statements and management discussion analysis that was filed on CEDAR+. Please note, portions of today's call, other than historical performance, include statements of forward-looking information within the meaning of applicable security laws. These statements are made in the safe harbor provisions of those laws. Please refer to yesterday's press release and to our management discussion analysis for more details on the company's risk and forward-looking statements. We provide forward-looking statements solely for the purpose of providing information about management's current expectations and plans going into the future. We do not undertake or accept any obligation or undertaking statements to reflect any change in our expectations or any change in events, conditions, assumptions, or circumstances on which any such statement is based, except if described by law. We use terms such as gross margin and adjusted EBITDA on this conference call, which are non-IFRS and non-GAAP measures. For more information on how we define these terms, please refer to the definitions set out in our management discussion analysis. There will be a question and answer at the end of the call, which will be limited to analysts only. To answer your question, analysts are required to call into a conference call using the dial-in number provided in our press release. And with that, let me turn the call over to HEWL CEO, James Lee.

Good morning, everyone. Thank you for joining us today. Before I walk through results, I want to step back and frame exactly where we believe HEWL sits in the broader healthcare AI landscape. We're in the early innings of what most analysts expect to be one of the largest technology adoption cycles in healthcare's history. The question for investors is no longer whether AI will transform clinical care. It's which companies with the distribution, the scientific credibility, and secure, compliant, ethical data infrastructure to capture that adoption scale. We've heard directly from leading healthcare systems, global life science companies, and clinical leaders. And Hewell is one of the very few companies globally that has assembled all three. Our Orion health platform gives us global enterprise customers across 11 countries. We manage health information exchanges, the foundation for building and bringing clinical data together at scale. Our Darwin AI engine is backed by 47 peer-reviewed publications, more clinical validation than any comparable platform we're aware of. And our consent-first-by-design data network through WellTrust creates a true learning health system feedback loop that makes our AI better, with every deployment, and that's the thesis. Now, bringing that back to how 2025's results confirm that, 2025 was a transformational year for Herewell, as we significantly expanded the scale of the company and advanced our strategy of building a global AI platform for healthcare. Revenue increased 427% to $103.8 million, largely driven by the acquisition of Ryan Health, completed in April 2025. This expanded our global footprint and strengthened our recurring revenue from our healthcare data infrastructure. We also achieved our first year of positive adjusted EBITDA, reaching 2.3 million, reflecting early operating leverage in the model. During the year, we sharpened our focus, including the divestiture of non-core assets in October, positioning Hewell as a pure-play AI and software company. We launched Amadeus AI in September, embedding Darwin directly into Orion Healthcare's platform. and we expanded our AI deployment footprint, including our first AI deployment in the Middle East, which we announced in February of this year. As we move into 26, we are beginning to demonstrate both financial performance and accelerating AI-driven growth, supported by expanding distribution network, positioning us to drive continued top-line growth and long-term impact across healthcare systems. The next step is how we scale that platform, and we'll talk about the four pillars driving that strategy. As I said, we're building HealWell as a scalable AI platform for healthcare. We're still in the early stage of AI adoption in healthcare, but advances in AI and digitalization of data is now enabling large-scale deployment. We believe this will become one of the most important use cases of AI over time. From our perspective, the companies that will win will be defined by four things. A scaled distribution network, trusted and validated AI, deep integration with clinical workflows, all underpinned by high-quality data and a strong platform economics. Importantly, this combination of own distribution, consent-based data, and embedded AI is difficult to replicate. But our business is built around these three key principles. Firstly, our distribution network gives us access to a large global healthcare footprint and allows us to scale AI deployments across healthcare systems and other markets. Secondly, trusted AI We continue to invest in clinical validation and privacy-first consent-driven data frameworks to ensure our technology is trusted across healthcare ecosystems. Through WellTrust, we've levered a consent-based clinical data network to identify and match patients with clinical trials using Darwin, creating a differentiated data moat which is highly valuable to our life science partners. Third, AI adoption and expansion. Our AI is embedded directly into clinical workflows and having faster patient identification insights performance. As adoption grows, each deployment expands our data network, increases AI usage, and improves the overall economics of the business. To execute this strategy, we've laid out clear milestones to reflect how we're scaling the platform. In the second half of 2025, we made strong progress across all four pillars. We expanded our distribution network, we integrated Darwin directly into Airwell, delivering a unified AI and software company, all while achieving positive EBITDA across Q2, Q3, and Q4. As we head into Q1 of 2026, our focus is continuing this momentum by expanding enterprise deployments, strengthening our AI leadership through continued validation, and driving further AI adoption and expansion across our network while maintaining a positive adjusted EBITDA. Looking wider across 2026, the priority is scaling globally, expanding our distribution network, increasing adoption, and strengthening our financial position. As the platform scales, we expect to drive strong growth in AI revenue and continued operating leverage, targeting approximately 50% AI revenue growth and an exit run rate of just EBITDA margin around 10%. On behalf of the team, we'd like to thank you for your continued support and look forward to sharing progress over the coming quarters. I'd now like to hand the call over to our CFO, Anthony Lamb, to walk you through Q4 and the year-end financials in more detail.