Company Overview - Health In Tech is an Insurtech platform company listed on Nasdaq (HIT) that utilizes third-party AI technology to enhance processes in the healthcare industry through vertical integration, process simplification, and automation [5] Community Support Initiative - Health In Tech has announced financial support for Community Foster Closet, a nonprofit organization in Spokane Valley, Washington, which provides essential items to foster families [1][3] - Since its inception in October 2023, Community Foster Closet has assisted over 100 families and provided resources to more than 370 children [2] Leadership Statements - Tim Johnson, CEO of Health In Tech, emphasized the company's commitment to community support and the importance of initiatives like Community Foster Closet in making a meaningful difference in people's lives [3] - Lori Babcock, Chief of Staff at Health In Tech, highlighted the human impact of the initiative, stating that it provides hope and stability for families in challenging situations [4] Operational Insights - Community Foster Closet operates entirely through donations and a small team of four volunteers, showcasing the reliance on community generosity to sustain its operations [2][4] - The financial contribution from Health In Tech will be used to stock high-demand items, ensuring foster families have consistent access to essential goods throughout the year [3]

STUART, Fla., July 14, 2025 /PRNewswire/ -- Health In Tech (NASDAQ: HIT), an Insurtech platform company backed by third-party AI technology, today announced that it will release financial results for the quarter ended June 30, 2025, following the close of market on Monday, July 21, 2025. Health In Tech will host a conference call and live webcast to discuss the Company's financial results, recent development and business outlook.Event: Health In Tech's 2025 Second Quarter Earnings Conference CallWhen: Monda ...

Core Viewpoint - Hitachi High-Technologies Group has officially launched its tungsten filament scanning electron microscope produced at its Suzhou factory, which matches the performance of imported products, and will continue to deepen its presence in the Chinese market by providing higher quality services [2][4]. Group 1 - Hitachi High-Technologies Group is a subsidiary of the Fortune Global 500 company Hitachi Ltd, known for its cutting-edge technology and reliable quality in precision manufacturing [4]. - Since entering the Chinese market in 1964, Hitachi High-Tech has actively served Chinese customers for 60 years, adhering to the strategic concept of "In China, For China" [4]. - The company has established three major factories in China, located in Suzhou, Dalian, and Shanghai, responsible for the R&D and manufacturing of scientific instruments and medical diagnostic products, making it a crucial part of Hitachi's global manufacturing system [4]. Group 2 - In response to the changing demands of the Chinese market, Hitachi High-Tech's localization process has made significant progress with the launch of the tungsten filament scanning electron microscope in 2025, marking a further step in its localization strategy within the field of electron optics [6]. - The domestically produced tungsten filament scanning electron microscope is recognized for its excellent imaging, high automation, and stable quality, and will match the performance of imported models [6]. - Leveraging the established sales and after-sales service network of Hitachi Scientific Instruments (Beijing) Co., Ltd., the company aims to provide better services to Chinese users, committing to grow together with them [6].

Company Overview - Health In Tech (Nasdaq: HIT) is an Insurtech platform company utilizing third-party AI technology to enhance healthcare processes through vertical integration, process simplification, and automation [3][4] - The company aims to streamline the underwriting, sales, and service processes for insurance companies, licensed brokers, and third-party administrators (TPAs) [3] Key Collaborations - Health In Tech collaborates with Hilb Group and Baily Insurance to innovate self-funded healthcare solutions, focusing on transparency and trust [3][6] - Hilb Group is a prominent insurance brokerage firm with over 190 acquisitions and more than 125 offices across 31 states, recognized as one of the fastest-growing brokers [4] - Baily Insurance, a family-owned agency since 1880, provides tailored insurance solutions and co-founded Fusion Health Plans, which leverages Health In Tech's solutions to save clients millions [5][6] Upcoming Media Exposure - Chief Growth Officer Dustin Plantholt will be featured in an interview on "New to The Street," filmed live at the New York Stock Exchange on June 3, 2025 [1] - The interview will be broadcast on Bloomberg TV and highlighted on the Nasdaq MarketSite billboard in Times Square, increasing visibility to a global audience [2]

Company Overview - Health In Tech (Nasdaq: HIT) is an Insurtech platform company that leverages third-party AI technology to enhance processes in the healthcare industry through vertical integration, process simplification, and automation [4]. - The company aims to streamline the underwriting, sales, and service processes for insurance companies, licensed brokers, and third-party administrators (TPAs) [4]. Event Participation - Health In Tech will participate as a Gold Sponsor at the American Trust Investment Services National Conference 2025, scheduled for June 16–18, 2025, in San Diego, California [1][2]. - The conference will focus on business growth, collaboration, and innovation in financial services, bringing together registered representatives, advisors, and preferred sponsors [2]. Strategic Vision - CEO Tim Johnson expressed excitement about the conference, highlighting it as an opportunity to connect with influential advisors and showcase how the company's platform enhances transparency, efficiency, and affordability in healthcare benefits [3]. - Health In Tech plans to engage in one-on-one meetings, interact with attendees in the vendor room, and present its strategic vision to raise awareness of its platform and its role in driving innovation in the healthcare industry [3].

Group 1 - Health In Tech, Inc. (Nasdaq: HIT) is an Insurtech platform company utilizing third-party AI technology to enhance healthcare processes [1][3] - The company will present at the "2025 Virtual Tech Conference" hosted by Maxim Group LLC from June 3rd to June 5th, with its presentation scheduled for June 3rd at 4:00 p.m. EDT [1] - The conference will focus on the impact of emerging technologies, including quantum computing and AI, on various industries, including healthcare [2] Group 2 - Health In Tech aims to streamline the underwriting, sales, and service processes for insurance companies, licensed brokers, and third-party administrators (TPAs) through vertical integration and automation [3] - Maxim Group LLC is a full-service investment banking and wealth management firm that provides a range of financial services, including investment banking and equity research [4]

Financial Performance - Total revenues for the three months ended March 31, 2025, were $8,014,984, representing a 56.5% increase from $5,124,931 in the same period of 2024[22] - Gross profit for the first quarter of 2025 was $5,355,399, up 29.5% from $4,135,020 in Q1 2024[22] - Net income for the three months ended March 31, 2025, was $498,592, compared to $100,536 in Q1 2024, marking a significant increase of 394.5%[22] - Adjusted EBITDA for the three months ended March 31, 2025, was $1,228,211, compared to $467,209 in the same period of 2024, indicating a growth of approximately 162.5%[162] - Income before income tax expense increased by $0.5 million to $0.7 million for the three months ended March 31, 2025, from $0.2 million for the same period in 2024[182] Cash and Assets - Cash and cash equivalents decreased to $7,575,037 as of March 31, 2025, from $7,849,248 at the end of 2024, a decline of 3.5%[30] - Total assets increased to $21,330,200 as of March 31, 2025, up from $15,768,489 at the end of 2024, reflecting a growth of 35.4%[18] - Accounts receivable, net increased by $463,498 to $2,110,601 as of March 31, 2025, primarily due to revenue growth[165] - The balance of software increased by $773,632 to $4.7 million as of March 31, 2025, from $4.0 million as of December 31, 2024, due to investment in new software development[167] Expenses - Operating expenses for Q1 2025 were $4,874,741, a 28.2% increase from $3,802,598 in Q1 2024[22] - General and administrative expenses increased by $1.2 million to $3.2 million for the three months ended March 31, 2025, from $2.0 million for the same period in 2024[176] - Research and development expenses decreased to $537,721 in Q1 2025 from $760,196 in Q1 2024, a reduction of 29.3%[22] Stockholders' Equity - Total stockholders' equity rose to $14,160,791 as of March 31, 2025, compared to $13,169,028 at the end of 2024, an increase of 7.5%[18] - The balance of total stockholders' equity increased by $991,763 to $14.2 million as of March 31, 2025, from $13.2 million as of December 31, 2024[169] Revenue Sources - Revenue from Carrier A accounted for 28.4% of total revenues for the three months ended March 31, 2025, compared to 0.0% for the same period in 2024[42] - Revenues from underwriting modeling (ICE) increased to $2,630,455 in Q1 2025 from $1,784,635 in Q1 2024, reflecting a growth of about 47.5%[83] - Revenues from fees rose significantly to $6,302,872 in Q1 2025, up from $3,425,040 in Q1 2024, marking an increase of approximately 83.5%[83] IPO and Stock Information - The company completed its IPO on December 24, 2024, raising net proceeds of $8,214,000 from the sale of 2,300,000 shares at $4.00 per share[33] - As of March 31, 2025, the Company had 54,619,858 weighted average shares outstanding for basic EPS, with a net income of $498,592, resulting in a basic EPS of $0.01[99] - The diluted net income per share for the three months ended March 31, 2025 was also $0.01, with a total dilutive effect of 2,377,078 outstanding equity awards[99] Tax and Compliance - For the three months ended March 31, 2025, the company incurred an income tax expense of $185,831, a significant increase from $91,198 in the same period of 2024, representing a year-over-year growth of 103.5%[119] - The company's effective tax rate for the three months ended March 31, 2025, was 27.15%, down from 47.56% in the same period of 2024, primarily due to state taxes and permanent differences[120] - The company received a notice from Nasdaq indicating that the closing bid price for its Class A common stock was below the minimum $1.00 requirement for continued listing[205] - The company has until October 27, 2025, to regain compliance with Nasdaq's minimum bid price rule[206] Strategic Developments - On March 25, 2025, the company announced a strategic collaboration with DialCare to integrate telehealth services into its health plan offerings[139] - The company appointed Sanjay Shrestha to its Board of Directors on April 8, 2025, bringing extensive experience in scaling platform-based businesses[140] Operational Insights - The Company has a diversified customer base with no small business employer accounting for more than 2.0% of total revenues for the three months ended March 31, 2025[44] - The Company recorded $0 collections under the Deferred Administrative Surplus during the three months ended March 31, 2025, due to human resource constraints[59] - The Company continues to evaluate its historical credit loss experience and market trends to assess collectability of receivables[61] - The Company operates under ASC 606, recognizing revenue based on the transfer of promised goods or services to customers[68]

Industry Overview - The Chinese pharmaceutical industry is undergoing a critical transformation, driven by the "Healthy China 2030" strategy, focusing on innovative drug research and high-end formulation production [1] - The aging population is increasing the demand for pharmaceuticals, both in quantity and quality, presenting opportunities and challenges for pharmaceutical companies [1] Company Strategy - Hitachi's participation in the expo represents a deep implementation of its collaborative strategy, initiated in 2014, aimed at providing one-stop services from equipment to digital and energy-saving solutions [2] - The "One Hitachi" model addresses traditional pain points in the pharmaceutical sector, such as high communication costs and equipment compatibility issues, enhancing service efficiency and quality [2] Product Solutions - Hitachi's oil-free screw compressors and oil-free scroll compressors meet stringent air quality requirements in the pharmaceutical industry, ensuring product safety by eliminating oil contamination [2] - The energy-saving features of Hitachi's compressors help pharmaceutical companies reduce energy costs by 15%-20% through intelligent control and heat recovery [2] Digital Transformation - Hitachi's digital solutions, including Manufacturing Execution Systems (MES) and Quality Management Systems (QMS), facilitate the digitalization and automation of production processes, improving efficiency and product quality consistency [4][5] - The company's digital solutions ensure data accuracy and traceability, addressing compliance and efficiency issues in the pharmaceutical production process [5] Future Outlook - Hitachi maintains a stable market share of 10%-15% in China and plans to expand its business, actively participating in emerging fields and strengthening collaboration with domestic partners [5] - The ongoing "One Hitachi" strategy is expected to bring more innovative solutions to the pharmaceutical industry, promoting advancements towards intelligent, green, and efficient production [5]

Financial Data and Key Metrics Changes - The company achieved $8 million in revenue, reflecting a 56% year-over-year growth [7][21] - Generated $0.7 million in income before income tax, a 257% increase compared to the same period last year [7][20] - Gross profit reached $5.3 million, translating to a gross margin of 66.8% [23] - Adjusted EBITDA more than doubled to $1.2 million compared to $0.5 million in Q1 last year [27] Business Line Data and Key Metrics Changes - Revenue from the underwriting model grew 31.8% to $2.3 million [21] - Program fee revenue surged 69.5% to $5.7 million, indicating a shift towards high-quality coverage and enhanced service offerings [22] - The number of enrolled employees on the platforms rose to 24,307, up from 20,802 in Q1 2024 [7][21] Market Data and Key Metrics Changes - The number of active brokers on the platform reached 459, more than doubling from 192 in the same period last year [12] - The company is on track for a full-scale rollout of its AI-backed underwriting capabilities in Q3, targeting mid- to large-sized businesses [10] Company Strategy and Development Direction - The company is focused on expanding its market reach through strategic collaborations, such as with DialCare for telehealth services [11] - A pivot to a channel distribution model is expected to enhance scalability and efficiency without a corresponding rise in marketing costs [23] - The goal is for the eDIPS platform to become the go-to destination for healthcare insurance, providing fast and customizable solutions [16] Management's Comments on Operating Environment and Future Outlook - Management acknowledged the current microeconomic challenges and emphasized the need to help employers manage healthcare costs [15] - There is confidence in maintaining strong sales momentum into the second quarter, with expectations for continued top-line growth and solid bottom-line results [29] Other Important Information - The company welcomed Sanjay Shrestha to its board of directors, bringing experience in scaling platform businesses and capital markets [14] - The balance sheet remains solid with $7.6 million in cash and cash equivalents at quarter-end [28] Q&A Session Summary Question: Should we think about the growth in enrolled employees in terms of seasonality? - Management noted that January 1 is typically the best month for business due to many groups renewing their health insurance [33] Question: Can you provide more color on market segmentation for larger employers? - The expansion beyond 150 enrolled employees is aimed at improving convenience and efficiency in communication between brokers and underwriters [35][36] Question: What drives the difference between underwriting and program fee revenues? - The company earns revenue as a program manager and underwriter, with employers increasingly focused on program fees for enhanced benefits [42][44] Question: What is the trend in the self-funded market? - Most larger groups are already self-funded, taking advantage of proprietary programs for flexibility [52] Question: Will the AI-powered underwriting platform change pricing? - The new system will improve efficiency without changing pricing, streamlining the data submission process for underwriters [61][62] Question: What does the collaboration with DialCare entail? - The partnership aims to provide on-demand access to licensed healthcare providers, enhancing the company's service offerings [72]

Financial Performance - First-quarter revenue increased by 56% year-over-year to $8.0 million, driven by strong market demand[5] - Income before income taxes reached $0.7 million, representing 8.5% of revenue, a 257% increase compared to the same period in 2024[5] - Adjusted EBITDA for the quarter was $1.2 million, up from $0.5 million in the same period last year[5] - Total revenues for Q1 2025 were $8.0 million, representing a 56.4% increase from $5.1 million in Q1 2024[26] - Income before income tax expense increased to $0.7 million in Q1 2025, up 257.0% from $0.2 million in Q1 2024[26] - Adjusted EBITDA for Q1 2025 was $1.2 million, a 163% increase compared to $0.5 million in Q1 2024[26] - Net cash provided by operating activities was $527,353 in Q1 2025, a significant improvement from a net cash used of $(680,212) in Q1 2024[19] Customer Growth - The number of enrolled employees billed rose to 24,307 from 20,802 in the first quarter of 2024, indicating growth in customer base[5] - The company expects continued strong growth in Q2 2025, driven by new program development and expansion of its broker and TPA network[6] Assets and Cash Position - Cash and cash equivalents stood at $7.6 million as of March 31, 2025, slightly down from $7.8 million at the end of 2024[5] - Total assets increased to $21.3 million as of March 31, 2025, compared to $15.8 million at the end of 2024[17] - Cash and cash equivalents at the end of Q1 2025 were $7,575,037, down from $1,359,534 at the end of Q1 2024[19] Strategic Initiatives - The company is on track for a full rollout of its AI-powered underwriting platform in Q3 2025, expanding its total addressable market[4] - Health In Tech announced a strategic collaboration with DialCare to integrate telehealth services into its health plan offerings, enhancing healthcare accessibility[9] - The appointment of Sanjay Shrestha to the Board of Directors adds valuable industry and financial expertise to support long-term growth[9] Expenses - GAAP gross margin decreased to 66.8% in Q1 2025 from 80.7% in Q1 2024, a decline of 13.9%[26] - Development of software incurred costs of $(703,475) in Q1 2025, compared to $(133,394) in Q1 2024[19] - Sales and marketing expenses primarily consist of personnel-related costs, including salaries and commissions for sales and marketing personnel[22] - General and administrative expenses include costs for executives, finance, legal, and consulting services[23] - Research and development expenses focus on software development and enhancement of existing platform technology[24]