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Health In Tech Reports First Quarter 2026 Financial Results
Reiterates Guidance for 2026 Annual Revenue Ranging between $45 Million and $50 MillionSTUART, Fla., May 13, 2026 /PRNewswire/ -- Health In Tech, Inc.
About this update from Health In Tech, Inc.
[{"type":"text","content":"Reiterates Guidance for 2026 Annual Revenue Ranging between $45 Million and $50 MillionSTUART, Fla., May 13, 2026 /PRNewswire/ -- Health In Tech, Inc. (Nasdaq: HIT) (\"Health In Tech\" or \"Company\"), an AI-enabled InsurTech platform company, today announced its unaudited financial results for the three months ended March 31, 2026.\n \n \n \n \n \n \n \nFirst Quarter 2026 OverviewRevenue increased 9.4% to $8.8 million from $8.0 million in the first quarter of 2025.Platform placed plan value1 totaled $82.0 million.Adjusted EBITDA2 totaled $(1.3) million, compared to $1.2 million in the first quarter of 2025, and reflected higher sales and marketing expenses for initiatives designed to drive long-term revenue growth.Net loss equaled $1.6 million, or $(0.03) per diluted share, compared to net income of $0.5 million, or $0.01 per diluted share, in the first quarter of 2025.As of March 31, 2026Distribution partners, including brokers, third-party administrators (\"TPAs\") and agencies, reached 896, up 29.5% from 692 distribution partners as of March 31, 2025.Contracted revenue3 for the remaining three quarters of 2026 equaled $22.9 million.Cash and cash equivalents totaled $10.3 million, compared to $7.6 million as of March 31, 2025.Working capital totaled $15.0 million, compared to $8.8 million as of March 31, 2025. 2026 Full Year Revenue GuidanceHealth In Tech today reiterated guidance for 2026 annual revenue ranging between $45 million and $50 million, representing year-over-year growth of approximately 35% to 50%. As of March 31, 2026, the Company's contracted revenue for the remaining three quarters of 2026 totaled $22.9 million, which the Company believes provides useful visibility into 2026 full year revenue. Health In Tech's revenue outlook is based on management's current expectations and assumptions, including continued strong demand for the Company's AI-enabled underwriting marketplace across the self-funded health insurance segment and successful deployment of new features. Actual results may differ materially due to risks and uncertainties described in Health In Tech's filings with the SEC.The Company expects continued growth driven by expanding engagement across its distribution network and the full deployment of new features launched in January 2026. Unlike the traditional insurance industry, where new product and ser...