Well Health Technologies Corp. · TSX:WELL
Well Health Technologies — Q2 2025 Earnings Presentation
25 slides from Well Health Technologies's earnings presentation, August 2025
Slide 1: Q2 2025 Earnings Presentation
%% 80? WELL Health ee ee TECHNOLOGIES CORP Q2 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 Tree
The WELL Health Family Tree WELL Health Technologies Corp. TSX: WELL CYBERWELL WELLSTAR (Future IPO) (Future IPO) WELL Canadian HEALWELL Al Clinics TSX: AIDX Pure-Play Data Pure-Play Provider- Protection and Focused Technology Cybersecurity Solutions Pure-Play Tech- Enabled Healthcare Delivery Pure-
Slide 4: WELL Q2 2025 Key Financial Highlights
WELL Q2 2025 Key Financial Highlights Q2 Revenue Q2 Adj. EBITDA Q2 Adj. Gross Margin $356.7M $49.7M Inc. CM Exc. CM +57% Y/Y +231% Y/Y 44.5% 43.0% Q2 Revenue exc. CM Impact1 Q2 Adj. EBITDA exc. CM Impact1 Q2 FCFA2S $347.0M $40.0M $11.6M +53% Y/Y +166% Y/Y +34% Y/Y 1) The impact from Circle Medical r
Slide 5: WELL Q2 2025 – WELL Canada & CRH (Illustrative View)
WELL Q2 2025 – WELL Canada & CRH (Illustrative View) Q2 Revenue Q2 Gross Profit WELL Canada Revenue $254.2M $98.5M $131.4M Total Growth Organic CAN GM% CRH GM% TotalGrowth Organic Total Organic +36% +20% 49% 28% +32% +40% +15% +25% Q2 Adj. EBITDA Margin WELL Canada Adj. EBITDA2 Q2 Adj. EBITDA1 $38.4
Slide 6: WELL Q2 2025 Operational Highlights
WELL Q2 2025 Operational Highlights1 4,300+ 42,000+ 2.7M+ Total Care Interactions Providers in WELL's Clinic Unique Providers supported +29% YoY Network by WELL's Technology (+19% organic) 1.6M+ 1.06M +38% Patient visits CAN patient visits YoY CAN patient visit growth +24% YoY in a single quarter (+
Slide 7: Q2-2025 Earnings – Additional Topics to be Covered
Q2-2025 Earnings – Additional Topics to be Covered Key updates on the following: 1. Canadian Clinics Update 2. WELLSTAR 3. HEALWELL AI 4. Strategic Alternatives Processes for US Assets
Slide 8: WELL Canadian Clinics Financial Performance
WELL Canadian Clinics Financial Performance WELL Canadian Clinics WELL Canadian Clinics WELL Canadian Clinics Count1 Annual Revenue Growth Annual Adj. EBITDA Growth (C$ in 000s) (C$ in 000s) 500,000 60,000 250 222 450,000 50,000 400,000 200 350,000 40,000 300,000 150 128 250,000 30,000 200,000 100 2
Slide 9: Deal and Effective Total Consideration/Sh. EBITDA Multiples
Deal and Effective1 Total Consideration/Sh. EBITDA Multiples 12.0x Deal Multiple Effective Multiple 10.5x 10.0x 9.4x 8.0x 6.3x 5.8x 6.0x 5.1x 5.2x 4.7x 3.6x 3.6x 3.9x 4.0x 3.0x 2.6x 2.0x 1.6x 0.0x 0.0x 2018- 2021 2022 2023 3 2024 Total Total exc. 2020 2 MyHealth Total $22.4M $230.3M $5.8M $7.4M $14.
Slide 10: WELL Providers Are Seeing more Patients
WELL Providers Are Seeing more Patients WELL Canadian Clinics Billable Providers in WELL’s Patient Visit / Billable Provider Patient Visits Canadian Clinics Network 1,200,000 2,500 600 548 1,061,000 1,000,000 500 2,000 1,935 449 429 1,706 800,000 766,000 400 1,500 1,294 600,000 554,000 300 1,000 400
Slide 11: WELL Canada Experiencing Accelerating Growth
WELL Canada Experiencing Accelerating Growth WELL Canada WELL Canada Quarterly Revenue Growth Quarterly Adj. EBITDA Growth (C$ in 000s) (C$ in 000s) 140,000 25,000 131,381 22,983 120,000 20,000 100,000 93,603 15,000 80,000 13,032 67,437 10,942 60,000 10,000 40,000 5,000 20,000 0 0 Q2 2023 Q2 2024 Q2
Slide 12: WELL Canada Fast-Tracks to $100M+ Adj. EBITDA
WELL Canada Fast-Tracks to $100M+ Adj. EBITDA 100M+ Expected Adj. EBITDA annualized run- (C$ in 000s) rate by mid 2026(1) 100,000 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 2024 2025 2026 1)
Slide 13: WELL Canadian Clinics vs Competitors by Patient Visits
By Patient Visits WELL Canadian Clinics vs Competitors 222 180 Total Canadian Patient Visits WELL’s Current Market Share is Next 5 Canadian Clinic Peers 4.1M only 1.6%
Slide 14: Canadian Clinic Recent M&A Activity
Canadian Clinic Recent M&A Activity Q1-2025 Q2-2025 Q3-2025 To Date +11 Clinics +3 Clinics +4 Clinics 4 transactions 3 transactions 4 transactions +$31.5M +$8.0M +$15.1M Annual Revenue Annual Revenue Annual Revenue +71 Providers +46 Providers +72 Providers Total Canadian Clinics Total Canadian Clini
Slide 15: M&A Pipeline
M&A Pipeline Under LOI: $48M 7 25 Canadian Clinics Revenue Signed LOIs Clinics Under LOI: $134M 15 Total WELL1 Revenue Signed LOIs Total WELL $440M 35+ 110+ Pipeline Revenue Targets Engaged Clinics 1) HEALWELL AI’s pipeline and LOIs are included 2) The Total WELL Pipeline includes potential deals th
Slide 16: WELL's Future Canadian Clinic Market Share
WELL’s Future Canadian Clinic Market Share WELL Path to Expansion Commentary Current Future Annual Revenue >$400M $4.5B+ EBITDA >$50M $650M+ Clinics 222 1,400+ Patient Visits 4M+ 40M+ Est. Market Share 1.6% 8-10%
Slide 17: WELLSTAR Continued Financial Out-performance
WELLSTAR >> Continued Financial Out-performance Revenue (IFRS)1 Annual Recurring Revenue Adj. EBITDA2 (C$ in 000s) (C$ in 000s) 18,000 70,000 5,000 16,811 4,500 4,414 16,000 60,000 57,253 4,000 14,000 50,000 3,500 3,273 12,000 10,656 39,716 3,000 10,000 40,000 8,575 33,857 2,500 8,000 30,000 2,057 2
Slide 18: WELLSTAR Leading the Country in Provider-tech
WELLSTAR >> Leading the Country in “Provider-tech” 3,700+ ~16,000 Primary care and specialist-based EMR platforms enable practitioners to EMR Clinics served Practitioners better manage their patient interactions and improve their encounters. Digital 55+ ~25,000 The largest ecosystem of integrated an
Slide 19: HEALWELL Revenue and Adj. EBITDA
Revenue (IFRS) Commentary (C$ in 000s) 50,000 40,520 40,000 30,000 20,000 10,000 5,440 0 Q2 2024 Q2 2025 Adj. EBITDA (C$ in 000s) 3,000 1,940 2,000 1,000 0 -1,000 -2,000 -3,000 -4,000 -3,719 -5,000 Q2 2024 Q2 2025
Slide 20: Strategic Alternatives Processes for US Assets
Strategic Alternatives Processes for US Assets
Slide 21: Q2-2025 Financial Highlights: Record Revenue & Adj EBITDA
Q2-2025 Financial Highlights <> Record Revenue & Adj EBITDA Revenue (IFRS) Adj. EBITDA (C$ in 000s) (C$ in 000s) 400,000 60,000 84,940 356,673 350,000 28,619 49,735 50,000 300,000 40,521 40,000 250,000 3,900 227,312 200,000 30,000 150,000 2,171 20,000 3,900 15,045 100,000 10,000 50,000 0 0 Q2-2024 1
Slide 22: Q2-2025 Financial Highlights: Record Adj. Net Income
Q2-2025 Financial Highlights <> Record Adj. Net Income (C$ in 000s) 30,000 14,044 25,771 25,000 20,000 15,000 4,839 10,000 2,808 5,000 4,080 0 Q2-20241 CM HEALWELL Growth Q2-2025 Net Impact Increase Decrease Total (1) Q2-2024 figures were restated. (2) CM Net Impact represents the impact of Circle M
Slide 23: Q2-2025 Financial Highlights – FCFA2S
Q2-2025 Financial Highlights – FCFA2S (C$ in 000s) 18,000 9,733 16,000 14,000 -2,403 12,000 11,676 -2,126 10,000 8,713 8,000 -108 6,000 -2,132 4,000 2,000 0 Q2-24 HEALWELL Change in Change in Change in Change in Q2-25 FCFA2S CM & Wisp Sh EBITDA Taxes & Interest Capex FCFA2S Increase Decrease Total 2
Slide 24: Outlook: 2025 and Beyond
Outlook: 2025 and Beyond 2025 Guidance: HEALWELL WELL Canada Upper half of : Consolidation of >25% Adj. EBITDA $1.40-1.45B Revenue $40.5M Revenue in Q2- Growth(1) for 2025 $190-210M Adj. EBITDA 2025 2025 Guidance exc. CM WELL Canada Strategic Alternatives Upper half of: 2-Yr Target(1) of Being Execu
Slide 25: 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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