Hydreight Reports 34% Year-Over-Year Q1 Revenue Growth, Improvement in Bottom Line Results, and Delivers Strong Performance Across Verticals

Core Insights - Hydreight Technologies Inc. reported a strong Q1 2025 with approximately 34% year-over-year growth, indicating the effectiveness of its strategy [1][3] - The company secured new customers for its VSDHOne platform, which is expected to contribute positively to year-end goals [3] - Continued investments in the first half of 2025 are aimed at scaling operations efficiently and improving margins [1][3] Financial Performance - Topline revenue reached CAD 6.53 million, a 34% increase year-over-year [5] - GAAP revenue was CAD 4.54 million, up from CAD 3.38 million in Q1 2024 [5] - Gross margin improved to CAD 1.50 million from CAD 1.23 million in Q1 2024 [5] - Adjusted EBITDA was CAD 163K, reflecting ongoing operational improvements [5] - GAAP net income was CAD 21K, a significant turnaround from a net loss of CAD 309K in Q1 2024 [5] - Cash on hand at the end of the quarter was CAD 6.04 million [5] Growth Metrics - New nurse signups grew by approximately 65% compared to Q1 2024 [5] - The number of pharmacy orders increased by approximately 48% compared to Q1 2024 [5] Strategic Developments - Hydreight launched a Personalized Genetic Testing and Wellness Solution on the VSDHOne platform on May 27, 2025 [6] - The company expanded its telehealth services with new offerings, including GLP-1 therapies and partnerships with healthcare professionals [6][9] - Hydreight was recognized as one of the fastest-growing companies in the Americas by Financial Times [9] Future Outlook - The company aims to focus on growth across three verticals, achieve sustained positive adjusted EBITDA, and expand its service offerings [16] - Key priorities include onboarding high-volume franchise and direct-to-consumer partners and pursuing strategic mergers and acquisitions [16]