HealWELL AI Inc.

Thank you for standing by. My name is Carly, and I will be your conference operator today. At this time, I would like to welcome everyone to the Heal Well AI Q1 2026 Financial Results Conference 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, press star 1 again. Thank you. I would now like to turn the call over to Hesen Sunit, Head of Investor Relations. Please go ahead.

Hello, and thank you, operator. Joining on the call today are James Lee, CEO of Hewell, Dr. Alexander Dominovsky, President of Hewell, and Anthony Lamb, Hewell CFO. I trust that everyone has received a copy of the 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, thus filed on CDAR+. Please note portions of today's call, of their historical performance, include statements of forward-looking information within the meaning of applicable security laws. These statements are made under 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 relating to the future. We do not undertake or accept any obligation or undertaking to release publicly any updates or revisions to any forward-looking 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 it was required by law. We use terms such as gross margin and adjusted EBIT 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 ask a question, analysts are required to call in to the conference call using a dial-in number provided in our press release. And with that, let me turn the call over to Hewitt CEO, James Lee. James Lee.

Thank you, Heather. And thank you everyone for joining us today. Let me start by grounding this and why HairWell exists. HairWell is focused on becoming the primary enabler of preventative care by making healthcare data usable, actionable, and scalable. We now have access to over 150 million patient lives across our network, and we're putting that to scale to work. The challenge we're addressing is not a new one, but rather a structural one. Healthcare systems today are largely designed to treat illness, not prevent it. As a result, a disproportionate amount of spending is concentrated on patients with advanced disease, where interventions are more complex, more expensive, and often less effective. At the same time, many of these conditions drive this burden are preventable and manageable, if identified earlier. So the issue is not whether prevention works, it's that prevention has not been made and implemented at scale within real-world healthcare systems. And that's the core problem we're methodically approaching and solving. Now, the scale of this problem is significant, and the data makes it stark. 80% of healthcare data is unstructured and untapped, embedded in the clinical notes, reports, and disparate systems, and they were never designed to be analysed at population scale. This is not a marginal inefficiency. It means the vast majority of available clinical intelligence is invisible to the people in the systems that could act on it. Now, at the same time, 74% of global deaths are caused by conditions that are preventable or reversible if detected early enough. HeWell addresses these key issues by connecting disparate and complex healthcare information, surfing meaningful clinical insights, and implementing those insights in real-world environments. We do this now in some of the biggest partners across the world in both clinical, healthcare systems, and with life science partners. Today's a really exciting time for us as the science exists, the tools exist, and the data exists. And we have the ability to bring this all together. Now solving this requires more than a single capability. It requires solving four interconnected problems. The first is infrastructure. Healthcare systems cannot act on data they cannot see. The foundational requirement is the ability to connect disparate data sources and surface them in a way that is meaningful at population scale. The second is clinical-grade tools. Data alone is insufficient. Clinicians need tools that can interact directly in their workflows, surface the right patients at the right time without adding friction to an already stretched system. Third is scientific evidence. Prevention must be grounded in validated science, not simply assumed. That means peer-reviewed research, real-world validation, partnerships with life science organizations that set the standard for both clinical treatments and clinical evidence. And the final one is economic incentives. Even when the science is clear, healthcare systems will not change behavior without aligned incentives. Healthcare moves when incentives align. The financial case for prevention needs to be quantified and made compelling, equipping insurers and reinsurers to price the value of early intervention and build models that reward prevention, not treatment. Now, these four problems exist independently across the healthcare system. What has been missing is the ability to integrate those problems. Now, each of those problems maps directly onto what Hewell has built and is building, and we're making tangible progress across all four. On the infrastructure side, the Orion acquisition has been the defining move that gave us global distribution scale. Now, a year on, the integration is behind us, and the results are starting to come through. Our Amadeus platform now connects over 150 million patient lives, unlocking longitudinal multi-source data at the foundation of every preventative model we build. And critically, it gives us the distribution layer so we can scale our entire offering globally. On clinical tools, our strategic alliance with Well Health allowed us to prove that AI can be embedded into real-world clinical environments at scale. Darwin and Well Decision support are now live, embedding our algorithms and IP directly into clinical workflows, servicing high-risk patients and shifting care from reactive to proactive. This is no longer a theoretical capability that's working today across our network. On science effort evidence, where the foundation is genuinely difficult to replicate, with 47 peer-reviewed publications and partnerships with leading life science organisations, that trust takes years to build and increasingly recognised across the industry as being a meaningful competitive moat. And the final one, economic incentives. Translating population level inside sustainable financial performance is the final step. The insurance industry represents our next significant opportunity, and we're actively building towards it. Now, each step has been deliberate. The pillars are in place, and the strategy is now fully in motion. Now, let me speak to what we've delivered in Q1 26 and what you should expect from us for the balance of the year. Q1 was another strong Q revenue quarter, and we maintained positive adjusted EBITDA, demonstrating we are growing with discipline, commercially and operationally. It was also a call to meaningful progress with new contract wins and platform milestones we'll walk through shortly. Q1 gives us confidence what lies ahead. The pipeline is building, the platform is scaling, and the commercial momentum is real. While healthcare systems are considered with long sales cycles, the foundational growth signs are exciting. We're seeing strong growth in physicians using our products, increased patients being identified, new life science partners, and the US market is the most active it's been for a long time. As we look across the second half, we will be accelerating enterprise pipeline development across the US, Australia, and the Middle East. We continue to deepen our life science partnerships, leveraging our validated AI models and regulatory grade real-world data for clinical trial matching and drug discovery. And we'll continue to expand Darwin across additional EHRs and population platforms. By year end, our targets are clear. Activate our global network across life sciences, increase enterprise AI sales, and achieve approximately a 10% exit run rate for adjusted EBITDA margin. The foundation is built, the strategy is clear, and Q1 demonstrates we're executing against it. Turning to some of our key strategic and operational highlights for the quarter. First, we successfully unified Cure and Pentavir into a single Darwin-powered AI engine. Now, this is an important milestone in our platform strategy. as it enhances integration of our ecosystem, enables more effective cross-sell and up-sell opportunities, particularly across the Orion Health and Verisource customer bases. Second, we launched WellTrust in partnership with WellHealth. This is a consent-first, AI-powered data governance and patient identification platform that enables privacy, compliant clinical mobilization at scale. Importantly, it also improves patient recruitment for clinical research, which remains a critical bottleneck in the life sciences industry. This has already demonstrated significant value to our life science partners. Third, we can continue to build commercial momentum across all parts of the business, including AI contracts and opportunities outside of Canada, increased momentum in ANZ, and our first RFP response with a genomic partner. This reflects the growing global demand for our AI solution and reinforces our expanding international footprint. Overall, these milestones highlight the continued execution of our strategy to combine AI data and clinical validation to drive meaningful impact across healthcare systems and life science organizations. I'd now like to turn the call over to our CFO, Anthony Lam, to walk through Q1 financial results. Thank you, James.