Well Health Technologies Corp. · TSX:WELL
Well Health Technologies — Q1 2025 Earnings Presentation
23 slides from Well Health Technologies's earnings presentation, May 2025
Slide 1: Q1 2025 Earnings Presentation
%% 80? WELL Health ee ee TECHNOLOGIES CORP Q1 2025 Earnings Presentation
Slide 2: Disclaimer
Disclaimer This presentation contains forward-looking statements and forward-looking information within the meaning of applicable securities laws. These statements relate to future events or future performance. All statements other than statements of historical fact may be forward- looking statement
Slide 3: The WELL Health Family – Today
The WELL Health Family – Today
Slide 4: The WELL Health Family – Future State
The WELL Health Family – Future State
Slide 5: WELL Q1 2025 Key Financial Highlights
WELL Q1 2025 Key Financial Highlights Q1 Revenue Q1 Adj. EBITDA WELL Canada Revenue $294.1M $27.6M Growth Total Organic +32% Y/Y +36% Y/Y +32% +13% Q1 Revenue exc. CM Impact Q1 Adj. EBITDA exc. CM WELL Canada Adj. EBITDA $300.7M $34.1M $18.7M +30% Y/Y +21% Y/Y +29% Y/Y
Slide 6: WELL Q1 2025 Operational Highlights
WELL Q1 2025 Operational Highlights 4,300+ 42,000+ 2.5M+ Total Care Interactions Providers in WELL's Clinic Unique Providers supported +34% YoY Network by WELL's Technology (+27% organic) 1.6M+ +30% 16% Patient visits YoY US patient visits growth YoY CAN patient visit growth +24% YoY (all organic) (
Slide 7: Q1-2025 Earnings – Additional Topics to be Covered
Q1-2025 Earnings – Additional Topics to be Covered Key updates on the following: 1. HEALWELL AI 2. WELLSTAR 3. Canadian Clinics Update 4. Strategic Sales Processes at Wisp and Circle Medical
Slide 8: HEALWELL AI Value Creation Timeline
HEALWELL AI Value Creation Timeline July 20, 2023 October 17, 2023 February 1, 2024 March 26, 2025 19 Months Since the launch of HEALWELL on $0.0M $0.2M -$8.6M $4.4M October 1, 2023 WELL acquires MCI clinics Bought deal financing $3.6M in cash and $5.0M Exercise of convertible in ON, and agrees to i
Slide 9: HEALWELL AI Value Creation Journey for WELL Shareholders
HEALWELL AI <> Value Creation Journey for WELL Shareholders (C$ in millions) 180.0 160.0 158.5 $129M+ Of Shareholder Value Created 140.0 For WELL Shareholders 120.0 +450% 100.0 80.0 49¢/Share Of Shareholder Value Created 60.0 For WELL Shareholders 40.0 28.9 20.0 0.0 5.5x 1 2 Multiple on Invested Cap
Slide 10: WELLSTAR Delivering on Growth and Profitability
WELLSTAR Delivering on Growth and Profitability 10
Slide 11: WELL Canadian Clinics Financial Performance
WELL Canadian Clinics Financial Performance WELL Canadian Clinics WELL Canadian Clinics WELL Canadian Clinics Count Annual Revenue Growth Annual Adj. EBITDA Growth (C$ in 000s) (C$ in 000s) 450,000 60,000 230 220 400,000 210 50,000 350,000 190 319,135 40,699 300,000 40,000 170 33,085 250,000 230,381
Slide 12: Deal and Effective Total Consideration/Sh. EBITDA Multiples
Deal and Effective Total Consideration/Sh. EBITDA Multiples 12.0x 10.5x 10.0x 9.4x 8.0x 7.1x 6.3x 5.4x 5.8x 6.0x 5.2x 3.6x 3.9x 4.0x 2.9x 2.0x 2.2x 2.3x 2.0x nmf 0.0x 2018- 2021 2022 2023 2024 2 Total Primary Care 2020 1 Only Total $22.4M $230.3M $5.8M $7.4M $14.8M $280.7M $64.5M Consideration Numbe
Slide 13: WELL Providers Are Seeing more Patients
WELL Providers Are Seeing more Patients WELL Canadian Clinics Billable Providers in WELL’s Commentary Patient Visits Canadian Clinics Network 1,000,000 2,000 933,493 1,833 900,000 1,800 1,654 800,000 1,600 715,690 700,000 1,400 1,196 600,000 1,200 504,611 500,000 1,000 400,000 800 300,000 600 200,00
Slide 14: WELL Canada Experiencing Accelerating Growth
WELL Canada Experiencing Accelerating Growth WELL Canada WELL Canada Quarterly Revenue Growth Quarterly Adj. EBITDA Growth (C$ in 000s) (C$ in 000s) 140,000 24,000 120,579 120,000 20,000 18,671 100,000 91,118 16,000 14,474 80,000 70,235 11,805 12,000 60,000 8,000 40,000 4,000 20,000 0 0 Q1 2023 Q1 2
Slide 15: WELL Canada's Steady History of Improved Adj. EBITDA Growth
WELL Canada's Steady History of Improved A.EBITDA Growth 100M+ Expected Adj. EBITDA (C$ in 000s) annualized run-rate by 100,000 the end of 2026(1) 90,000 25%+ 80,000 Expected Adj. EBITDA growth in 2025(1) 70,000 60,000 56,313 50,000 45,960 40,000 32,453 30,000 20,000 17,686 10,000 0 2021 2022 2023 2
Slide 16: Canadian Clinic Recent M&A Activity
Canadian Clinic Recent M&A Activity Q4-2024 Q1-2025 +20 Clinics (1) +11 Clinics 4 transactions 4 transactions +$30.8M +$31.5M Annual Revenue Annual Revenue +111 Providers (1) +71 Providers Total Canadian Clinics Total Canadian Clinics 1) This figure only includes clinics that are owned and operated
Slide 17: M&A Pipeline
M&A Pipeline Under LOI: $44M 8 10 Canadian Clinics Revenue Signed LOIs Clinics Under LOI: $65M 11 Total WELL1 Revenue Signed LOIs Total WELL $360M 35+ 130+ Pipeline Revenue Targets Engaged Clinics 1) The Total WELL Pipeline includes potential deals that are either under LOI or in the pre-LOI stage.
Slide 18: Update on Wisp and Circle Sale Processes
Update on Wisp and Circle Sale Processes
Slide 19: Q1-2025 Financial Highlights
Q1-2025 Financial Highlights Revenue (IFRS) Adj. EBITDA (C$ in 000s) (C$ in 000s) 350,000 30,000 1,517 27,577 5,825 300,000 69,137 1,517 294,137 25,000 250,000 20,235 223,483 20,000 200,000 15,000 150,000 10,000 100,000 5,000 50,000 0 0 1 1 Q1-2024 Growth CM - Net Impact Q1-2025 Q1-2024 Growth CM -
Slide 20: Q1-2025 Financial Highlights – Adj. Net Income
Q1-2025 Financial Highlights – Adj. Net Income Revenue recognition impacts from Circle Medical had a material impact on Q1-2025 Net Income (C$ in 000s) 20,000 18,000 17,207 16,000 14,000 12,000 10,000 8,000 770 7,508 2,566 6,000 4,000 -13,035 2,000 0 Q1-2024 1 One-Time Growth Net CM Q1-2025 Impacts
Slide 21: Q1-2025 Financial Highlights – FCFA2S
Q1-2025 Financial Highlights – FCFA2S Revenue recognition impacts from Circle Medical had a material impact on Q1-2025 Net Income (C$ in 000s) 18,000 5,918 16,000 173 14,000 -1,064 12,596 12,000 11,825 -3,398 10,000 -2,400 8,000 6,000 4,000 2,000 0 Q1-2024 One-Time Change in Taxes Interest Capex Q1-
Slide 22: Outlook: 2025 and Beyond
Outlook: 2025 and Beyond 2025 Guidance: HEALWELL WELL Canada $1.40-1.45B Revenue Consolidation of >25% Adj. EBITDA $190-210M Adj. EBITDA $120M Revenue in 2025 Growth(1) for 2025 WELL Canada 2025 Guidance exc. CM Strategic Alternatives 2-Yr Target(1) of $1.35-1.40B Revenue Being Considered for All >$
Slide 23: Contact
° WELL Health TECHNOLOGIES CORP Contact Hamed Shahbazi CEO, Chairman & Founder hamed@well.company Tyler Baba Investor Relations investor@well.company www.well.company 550-375 Water Street Vancouver, BC V6B 5C6 Canada
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