Well Health Technologies Corp. · TSX:WELL
Well Health Technologies — Q1 2026 Earnings Presentation
27 slides from Well Health Technologies's earnings presentation, May 7, 2026
Slide 1: WELL Health Technologies Corp. Q1-2026 Earnings Presentation
%% 80? WELL Health ee ee TECHNOLOGIES CORP Q1-2026 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: WELL Q1-2026 Key Financial Highlights
WELL Q1-2026 Key Financial Highlights1 Q1 Revenue Q1 Adj. Gross Profit Q1 Adj. Gross Margin $368.3M $163.2M 44.3% +25% Y/Y +39% Y/Y +440 bpsY/Y +102% Y/Y Q1 Adj. EBITDA Q1-2026 Adj. Sh. EBITDA Q1 Adj. Net Income $43.1M $30.5M $15.5M +56% Y/Y +50% Y/Y +107% Y/Y 1) All figures include $12.8 million in
Slide 4: WELL Q1-2026 Operational Highlights
WELL Q1-2026 Operational Highlights1 4,700+ 1.9M+ 1.3M Providers in WELL's Clinic Patient visits (CAN + US) Network CAN patient visits +17% YoY (1,400+ physicians in Canada) in Q1-2026 (+6% organic) 44,000+ 3.0M+ +33% Unique Providers supported Total Care Interactions2 YoY CAN patient visit growth b
Slide 5: Making an Impact to Canadian Healthcare
Making an Impact to Canadian Healthcare ~195K Transcribed by AI in Q1- 2026 in WELL-owned ~59K for disease detection in ~$1.1B through the WELLSTAR platform (annualized Fax Images Patient Records Q1-2026 by HEALWELL Billings Processed clinics Screened Processed run-rate) 10 Time saved per Doctor ~80
Slide 6: Canada's Largest Outpatient Healthcare Platform
Canada's Largest Outpatient Healthcare Platform Powered By Software & Al Clinics that deliver care. Software that runs it. Al that makes it smarter. Our Vision To be the operating system underpinning outpatient healthcare at scale for a modernizing Canadian healthcare system
Slide 7: Canada Healthcare Update
Canada Healthcare Update WELL + HEALWELL + WELLSTAR A Canadian-sovereign, fully-integrated stack Federal interoperability mandate and provincial sovereignty focus are converging tailwinds for WELL. FEDERAL POLICY AND PROCUREMENT PROVINCIAL POLICY AND PROCUREMENT Bill S-5: Connected Care for Canadian
Slide 8: Supporting Ontario's Province-wide Primary Care Medical Record Initiative
Supporting Ontario’s Province-wide Primary Care Medical Record Initiative WELL intends to actively engage with Supply Ontario through the forthcoming procurement process. ONTARIO’S COMMITMENT: Clinic Network 120 WELL-owned & operated clinics in Ontario Integrated Province-wide EMR Interoperable, sec
Slide 9: Q1-2026 Earnings – Topics to be Covered
Q1-2026 Earnings – Topics to be Covered 1. Canadian Clinics Update 2. New Growth Initiatives • WELL Health Intelligence Platform • WELL Research • CYBERWELL (New AI-focused platform) 3. Update on WELLSTAR & HEALWELL AI 4. Strategic Alternatives Processes for US Assets
Slide 10: WELL Canada Experiencing Consistent Growth
WELL Canada Experiencing Consistent Growth WELL Canada WELL Canada Q1 Revenue Growth Q1 Adj. EBITDA Growth (C$ in 000s) (C$ in 000s) 160,000 151,733 25,000 140,000 21,454 120,579 120,000 20,000 18,671 16,228 100,000 91,508 15,000 80,000 60,000 10,000 40,000 5,000 20,000 0 0 Q1 2024 Q1 2025 Q1 2026 Q
Slide 11: WELL Canadian Clinics Financial Performance
WELL Canadian Clinics Financial Performance WELL Canadian Clinics WELL Canadian Clinics WELL Canadian Clinics Count1 Annual Revenue Growth Annual Adj. EBITDA Growth (C$ in 000s) (C$ in 000s) 500,000 70,000 300 450,000 253 60,000 250 400,000 350,000 50,000 200 300,000 40,000 250,000 150 128 30,000 20
Slide 12: WELL Providers Are Seeing More Patients
WELL Providers Are Seeing More Patients WELL Canadian Clinics Billable Providers in WELL’s Patient Visit / Billable Provider Patient Visits Canadian Clinics Network 1,400,000 2,500 700 1,270,005 2,204 1,200,000 600 576 2,000 1,878 510 1,000,000 957,032 500 1,654 433 1,500 800,000 400 715,690 600,000
Slide 13: Canadian Clinic Recent M&A Activity
Canadian Clinic Recent M&A Activity Q4-2025 Q1-20261 +25 Clinics +3 Clinics 7 transactions 3 transactions +$45.6M +$34.0M Annual Revenue Annual Revenue +109 Providers +77 Providers Total Canadian Total Canadian Clinics Clinics 1) Q1-2026 M&A Activity includes the e-consult acquisition closed on Febr
Slide 14: Canadian Clinics Under LOI or Advanced Stage
Canadian Clinics ~$260M 4 81 Under LOI or Advanced Stage: Revenue Signed LOIs Clinics Total WELL Canada1 Under LOI or Advanced Stage: ~$265M 7 Revenue Signed LOIs Total WELL Canada $440M+ 50+ 125+ Pipeline2 Revenue Targets Engaged Clinics 1) WELL Canada includes Canadian Clinics, WELLSTAR , and CYBE
Slide 15: A Single Source of Truth Compounding Our Scale Advantage
WHAT IS IT? WHY WE’RE INVESTING? WHY IT MATTERS? A Single Source of Truth Compounding Our Scale Advantage The Launchpad for AI at WELL A unified, governed data layer that Our scale across 250+ clinics is a strategic A unified data layer unlocks AI and Agents across consolidates operational and finan
Slide 16: The Strategic Pivot
THE STRATEGIC PIVOT PL ATFORM SCALE 01 Repositioning to an SMO-led model targeting larger, higher-margin, later- stage trials. 02 Activating WELL's owned assets end-to-end across consent, recruitment, execution and data. 200+ 44K+ WELL Clinics across WELLSTAR providers on 03 Phase 1 innovator drug t
Slide 17: CYBERWELL: AI-focused platform
CYBERWELL: AI-focused platform Translating complexity into informed decisions and measurable progress. Full Lifecycle Cybersecurity CYDEcore Fusion Five integrated practice areas working as one. The AI-Operating System for Your Cybersecurity Program Deployment Services Implementation, integration, o
Slide 18: WELLSTAR: Continued Financial Out-performance
WELLSTAR: Continued Financial Out-performance Revenue1 Monthly Recurring Revenue (MRR) Adj. EBITDA2 (C$ in 000s) (C$ in 000s) (C$ in 000s) 25,000 7,000 6,000 6,405 21,750 +38% +20% 5,158 +27% 6,000 5,000 20,000 4,283 17,134 5,000 4,655 +14% +62% +39% 4,000 15,000 4,000 3,355 3,000 10,567 3,000 2,332
Slide 19: HEALWELL Revenue (IFRS) and Adj. EBITDA
Revenue (IFRS)1 Adj. EBITDA1 (C$ in 000s) (C$ in 000s) 35,000 1,000 33,207 735 30,000 500 25,000 0 20,000 -500 15,000 -1,000 10,000 -1,500 7,984 5,000 -2,000 -2,273 0 -2,500 Q1 2025 Q1 2026 Q1 2025 Q1 2026 1) Reported figures reflect HEALWELL’s consolidated continuing operations. The difference betw
Slide 20: Strategic Alternatives Processes for US Assets
Strategic Alternatives Processes for US Assets
Slide 21: Capex Q1-25 to Q1-26 Bridge
12,000 296 10,218 10,000 862 1,917 147 8,000 2,499 (948) 6,000 5,444 4,000 2,000 - Capex - Q1-25 WELL Canada US Patient Services HEALWELL WELL Research CYBERWELL HQ Capex - Q1-26 Increase Decrease Total
Slide 22: Q1-2026 Financial Highlights: Revenue
Q1-2026 Financial Highlights: Revenue (C$ in 000s) 400,000 19,386 368,261 21,585 350,000 33,153 300,000 294,137 250,000 200,000 150,000 100,000 50,000 0 Q1-25 HEALWELL Net Growth CM Net Deferral Impact Q1-26 Increase Decrease Total 22
Slide 23: Q1-2026 Financial Highlights: Adjusted EBITDA
Q1-2026 Financial Highlights: Adjusted EBITDA (C$ in 000s) 50,000 45,000 19,386 43,068 40,000 35,000 30,000 1,108 27,577 -1,317 25,000 -1,808 864 -912 -1,830 20,000 15,000 10,000 5,000 0 HEALWELL WELL Research AI/IT Transformation CM Deferral Net Impact Q1-25 WISP CYBERWELL Net Growth Q1-26 Increase
Slide 24: Q1-2026 Financial Highlights – Adjusted Net Income
Q1-2026 Financial Highlights – Adjusted Net Income2 (C$ in 000s) 20,000 9,789 15,549 15,000 10,000 7,508 410 12,184 5,000 -2,009 -800 -1,373 0 -5,000 -10,160 -10,000 1 HEALWELL CYBERWELL Non-Operating Items CM Deferral Net Impact Q1-2025 WELL Research AI/IT Transformation Net Growth Q1-2026 Increase
Slide 25: Q1-2026 Financial Highlights – FCFA2S
Q1-2026 Financial Highlights – FCFA2S Free Cashflow Attributable to Shareholders (C$ in 000s) 14,000 12,000 11,827 (697) 10,000 (1,202) (800) 8,000 (1,830) 6,000 (2,220) 4,000 2,000 (2,651) 3,319 1,617 (988) - (2,000) (3,142) (4,000) 1 1 1 WISP 1 CYBERWELL HQ Cash Interest Net Growth 1 FCFA2S - Q1-2
Slide 26: Outlook: 2026 and Beyond
Outlook: 2026 and Beyond WELL Canada 2026 Guidance1: Enhancing Operating 1.5-Yr Target2 of $1.55-1.65B Revenue Leverage from AI & >$800M Revenue $175-185M Adj. EBITDA Technology >$100M Adj. EBITDA Strategic Alternatives Being Executed on for US Spin-out of WELLSTAR Care Businesses 1) This guidance i
Slide 27: Contact
° WELL Health TECHNOLOGIES CORP Contact Hamed Shahbazi CEO, Chairman & Founder hamed@well.company Eva Fong Chief Financial Officer eva.fong@well.company Pardeep Sangha Investor Relations investor@well.company www.well.company Vancouver, BC Canada
WELL Health Technologies — Q1 2026 Earnings Presentation on 6ix