WELL Health Reports Record Revenue, Adjusted EBITDA, and Adjusted Net Profit in Q2-2025, Upgrades Guidance, and Delivers First-Ever Quarter With More Than 1 Million Patient Visits in Canada
WELL achieved record quarterly revenues of $356.7 million in Q2-2025, an increase of 57% compared to Q2-2024 driven by organic growth and acquisitions. Excluding the impact from Circle Medical’s deferred revenue adjustments or “CM Deferrals”, revenue would have been $347.0 million in Q2-2025, representing 53% year-over-year growth. Results were positively impacted during the quarter by the addition of $40.5 million of revenue from the inclusion of HEALWELL AI. WELL achieved record Adjusted EBITDA(1) of $49.7 million in Q2-2025, an increase of 231% compared to Q2-2024. Excluding the impact from CM Deferrals, Adjusted EBITDA would have been $40.0 million in Q2-2025. Improved EBITDA led to record Adjusted Net Income of $25.8 million or $0.10/share which was 532% higher than Q2-2024 and IFRS Net Income of approximately $17M for the quarter. Canadian Patient Services revenue was $114.5 million in Q2-2025, an increase of 49% compared to $76.7 million in Q2-2024, partially driven by organic growth of 17.8% Consolidated gross margins increased by 423 bps to 44.5%. Excluding CM Deferrals, consolidated gross margins would have increased by 270 bps to 43.0%. WELL reaffirms its previously provided annual guidance for annual revenue between $1.40 billion to $1.45 billion with Adjusted EBITDA between $190 million to $210 million. Excluding CM Deferrals, WELL reaffirms guidance for annual revenue between $1.35 billion to $1.40 billion and Adjusted EBITDA between $140 million and $160 million, In both cases, WELL is pleased to improve guidance to the upper half of the guidance ranges noted above. VANCOUVER, British Columbia — WELL Health Technologies Corp. (TSX: WELL, OTCQX: WHTCF) (the “ Company ” or “ WELL ”), a digital healthcare company focused on positively impacting health outcomes by leveraging technology to empower healthcare practitioners and their patients globally, is pleased to announce its interim consolidated financial results for the quarter ended June 30, 2025.
