Quarterly ResultMay 14, 2026, 04:40 PM
Health In Tech Q1 Net Loss $1.59M; Revenues Up 9.4%; Completes $6.38M PIPE
AI Summary
Health In Tech, Inc. reported a net loss of $1.59 million for the three months ended March 31, 2026, a significant decline from a net income of $0.50 million in the prior year period, despite a 9.4% increase in total revenues to $8.77 million. The company also completed a private investment in public equity (PIPE) financing on March 27, 2026, raising net proceeds of $6.38 million by issuing 5,600,000 shares of Class A common stock. This financing boosted cash and cash equivalents to $10.33 million.
Key Highlights
- Net loss for Q1 2026 was $1.59 million, compared to a net income of $0.50 million in Q1 2025.
- Total revenues increased 9.4% to $8.77 million in Q1 2026 from $8.01 million in Q1 2025.
- Completed a PIPE financing on March 27, 2026, issuing 5,600,000 Class A common shares.
- Received net proceeds of $6.38 million from the PIPE financing.
- Cash and cash equivalents increased to $10.33 million as of March 31, 2026, from $7.67 million at December 31, 2025.
- Gross profit decreased to $4.51 million in Q1 2026 from $5.36 million in Q1 2025.
- Total operating expenses rose to $6.67 million in Q1 2026 from $4.87 million in Q1 2025.
- Accounts receivable, net, increased to $3.74 million as of March 31, 2026, from $0.76 million at December 31, 2025.
Price Impact
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