Financial Data and Key Metrics Changes - Total revenue for Q2 2025 reached $9.3 million, representing an 86% year-over-year increase [6][26] - First half revenues of $17.3 million already account for 89% of the entire 2024 fiscal year total [7][26] - Adjusted EBITDA for Q2 was $1.6 million, a 134% increase year-over-year, with first half adjusted EBITDA reaching $2.8 million [27] - Pretax income for Q2 more than doubled year-over-year to $800,000, with first half pretax income at $1.5 million [27] Business Line Data and Key Metrics Changes - The company expanded its distribution network to 778 partners, an 87% increase year-over-year [8] - Billed enrolled employees increased by 30%, now totaling 24,839 [8] Market Data and Key Metrics Changes - The company is actively forging partnerships with third-party administrators and regional healthcare benefit providers, enhancing market reach [8][12] - The demand for differentiated services is evident in the growth of billed enrolled employees [8] Company Strategy and Development Direction - The company is focused on strategic partnership expansion, technology enhancement, and product innovation to maintain growth momentum [13] - The enhanced eDiP platform with automated large group underwriting tools is set to launch in Q3 [13] - The company aims to provide comprehensive solutions for small businesses through partnerships with influential players in the healthcare ecosystem [21][23] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the ability to maintain strong growth momentum despite typically slow sales seasons [11] - The current healthcare insurance market is characterized by uncertainty, presenting opportunities for the company to provide alternatives and solutions [91][93] Other Important Information - The company reported a positive cash flow from operating activities of $1.5 million in Q2, with total cash flow for all activities being positive $600,000 [31] - As of June 30, 2025, the company had $8.1 million in cash, demonstrating disciplined cash flow management [31] Q&A Session Summary Question: How is the company benefiting from partnerships and new business? - Management noted that opportunities in the fully insured market allow for flexibility in moving employees off effective dates, leading to more sales throughout the year [36][37] Question: How is the rollout of the AI-backed underwriting platform being managed? - The company is seeing an uptick in larger cases and is working with national agencies to build trust and bring in larger groups [43][44] Question: How do partnerships contribute to new employer acquisition? - Partnerships with TPAs are expected to bring in new business as they tap into distribution channels previously inaccessible to the company [62] Question: What is the company's approach to controlling expenses while growing revenue? - Management emphasized the importance of maintaining positive operating leverage and continuously reviewing internal efficiency [65][66] Question: What are the future plans for the HiCard program? - The company is on track to implement the HiCard program by August, with revenue expected in Q1 of the following year [70] Question: How does the company view the current healthcare insurance market? - Management highlighted the significant rate increases from ACA carriers as an opportunity for the company to provide alternative solutions [93][94]