Q4 2024 Healwell Al Inc Earnings Call Transcript
Key Points
- Healwell AI Inc (HWAIF) reported a record revenue of $15.2 million in Q4 2024, marking a 692% increase compared to Q4 2023.
- The company achieved a record gross profit of $7 million in Q4 2024, an increase of 1,179% compared to the same period last year.
- Healwell AI Inc (HWAIF) completed four strategic acquisitions in 2024 and announced the acquisition of Orion Health, expected to significantly boost revenues and make the company EBITDA-positive.
- The company has a robust acquisition pipeline and plans to continue its M&A strategy to drive growth in 2025.
- Healwell AI Inc (HWAIF) has developed and launched four AI co-pilots for disease detection, enhancing its offerings in the healthcare sector.
- Healwell AI Inc (HWAIF) reported an adjusted EBITDA loss of $16 million for 2024, compared to a loss of $8 million in 2023.
- The company experienced a net loss of $11.81 million in Q4 2024, compared to a loss of $6.8 million in Q4 2023.
- Cash reserves declined by $5.8 million at the end of Q4 2024, largely due to investments made in the business.
- Healwell AI Inc (HWAIF) has taken on significant debt to finance the Orion Health acquisition, which may impact future financial flexibility.
- The company anticipates softer revenue from clinical research and patient services in the first half of 2025, with growth expected to return in the latter half.
Thank you for joining Healwell AI's fourth-quarter and year-end 2024 financial results conference call. All participants are in listen-only mode, and the call is being recorded. (Operator Instructions)
I will now turn the call over to Mr. Pardeep Sangha, Investor Relations at Healwell. Please go ahead.
Thank you, operator. Hello, everyone. Joining me on the call today are Dr. Alexander Dobranowski, CEO of Healwell; and Anthony Lam, the company's CFO.
I trust that everyone has received a copy of our financial results press release that was issued earlier today. Listeners are also encouraged to download a copy of our quarterly financial statements and MD&A and analysis once they are filed on SEDAR+.
Please note, portions of today's call other than historical performance include statements of forward-looking statements and information within the meaning of applicable securities laws. These statements are made under the Safe Harbor provisions of those laws. Please refer to today's
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