Hydreight Reports 132% YoY Revenue Increase in Q3 2025 and Fourth Consecutive Quarter of Profitability, Highlighting Strong Multi-Vertical Performance

Core Insights - Hydreight Technologies Inc. reported significant financial growth in Q3 2025, with a focus on expanding its VSDHOne platform and achieving strategic objectives for 2026 [1][5][10] Financial Performance - For the first nine months of 2025, topline revenue reached CAD 26.71 million, a 61% increase year-over-year, while GAAP revenue was CAD 20.44 million, up 70% [5][7] - Q3 2025 topline revenue was CAD 12.83 million, marking a 110% increase compared to Q3 2024, with GAAP revenue at CAD 10.52 million, a 132% increase [5][7] - Q3 2025 gross margin improved to CAD 2.33 million from CAD 1.53 million in Q3 2024, and adjusted EBITDA was CAD 620K, indicating continued operational improvement [5][7] - The company reported a GAAP net income of CAD 362K in Q3 2025, a significant turnaround from a net loss of CAD 90K in Q3 2024 [5][7] Business Development - Hydreight processed approximately 295,000 VSDHOne product orders between July and September 2025, reflecting broad growth across various wellness verticals [5][10] - The nurse network expanded with 198 new sign-ups in Q3 2025, a 49% increase year-over-year, totaling 593 sign-ups in the first nine months of 2025, up 63% from 2024 [5][10] - Pharmacy orders increased by approximately 72% year-over-year, indicating sustained growth and broader adoption of services [5][10] Strategic Initiatives - The company signed a definitive agreement to acquire a 5% equity stake in Perfect Scripts, LLC, with an option to increase to 40%, establishing a strategic partnership [5][10] - Hydreight is actively evaluating profitable multi-state wellness and digital health operators for potential acquisitions to scale nationally through the VSDHOne platform [5][10] - The upcoming release of VSDHOne V2 aims to enhance automation, scalability, and modular functionality for partners nationwide [5][10] Recognition and Awards - Hydreight was recognized as one of Canada's Technology Fast 50™ award winners and ranked 77 among the fastest-growing companies in North America on the 2025 Deloitte Technology Fast 500™ [5][10]