WELL Health Technologies Corp. (WELL) Q1 2026 Earnings Call

Investor webinar replay

Replay transcript excerpt

Canadian-owned, certified, and fully integrated platform. Now let's look at Wellstar's financial performance for the quarter. We're pleased to report that Wellstar delivered yet another strong quarter, generating revenue of $21.8 million, an increase of 27% year-over-year. Wellstar achieved MRR, or monthly recurring revenue, of $6.4 million at the end of Q1 2026, an increase of 38% as compared to Q1 2025. Adjusted EBITDA of $4.9 million in Q1 2026, an increase of 14% as compared to adjusted EBITDA of $4.3 million in Q1 2025. Adjusted EBITDA margins were 23% in Q1 2026 for Wellstone. I want to point out that there were approximately $259,000 in pre-public related company costs in the quarter preparing for our spin-out plans. Excluding these costs, adjusted EBITDA would have been $5.2 million, an increase of 20%. Moving on, HealWell also released its Q1 2026 financials earlier this afternoon. We're extremely proud of the progress made by HealWell, a company that we helped launch. HealWell is a global healthcare software company with enterprise-grade data science and AI offerings serving 70 of the largest health systems here in Canada and globally in 11 countries, including customers such as the NHS in the UK, governments of France, Spain, Saudi Arabia, Abu Dhabi, New Zealand, Australia, and health systems in the United States. HealWell achieved revenue of $33.2 million in Q1 26, an increase of 316% year over year. HealWell also reported positive adjusted EBITDA of $735,000 in Q1 26 compared to a loss of 2.3 million in Q1 2025. HealWell will be hosting its webcast conference call tomorrow morning before market open. I hope you're able to check in and listen to HealWell's management discuss their progress and particularly some of their recent AI and health system wins de...