Hydreight Achieves 33% YoY H1 Revenue Growth, Records 3rd Consecutive Quarter of Profitability, and Strengthens Performance Across Verticals
"We had a great first 6 months, with 33% year-over-year growth. We have also exceeded our internal metrics across all verticals in the first seven months of the year, reinforcing the strength of our strategy. A key focus has been our investment in making the VSDHOne platform fully modular, allowing customers to adopt it module by module to fit their needs. At the same time, we've been prioritizing acquisitions and strategic investments that strengthen our margins, accelerate growth, and expand our ecosystem. These initiatives position us to scale efficiently and achieve our 2025 objectives.", Shane Madden, CEO of Hydreight
VANCOUVER, British Columbia and LAS VEGAS, Aug. 25, 2025 (GLOBE NEWSWIRE) -- Hydreight Technologies Inc. ("Hydreight" or the "Company") (TSXV:NURS)(OTCQB:HYDTF)( FSE: SO6 ), a mobile clinical network and medical platform which enables flexible at-home medical services across 50 states in the United States, is pleased to announce its financial results for the second quarter ended June 30, 2025. All financial information is presented in Canadian dollars unless otherwise indicated.
Q2 2025 Highlights
Q2, 2025 GAAP revenue was $5.38 million an increase of 31% compared to Q2, 2024.
Q2, 2025 topline¹ record revenue of $7.35 million, an increase of 31% compared to Q2, 2024.
First 6 months GAAP revenue was $9.92 million an increase of 33% compared to the same period last year.
First 6 months topline¹ revenue was $13.88 million an increase of 33% compared to the same period last year.
Gross Margin of $1.93 million, up from $1.56 million in Q2 2024
Adjusted EBITDA¹ of $182K for Q2 2025, marking continued operational improvement
GAAP Net Income of 50K, from GAAP Net Loss of $27K in Q2, 2024
Cash on Hand of $6.10 million at quarter-end
Approximately 77% growth in new Nurse signup compared to Q2, 2024
Approximately 48% growth in Number of pharmacy orders compared to Q2, 2024
The Company's internal matrix for VSDHOne SKU orders between June and the end of August was approximately 70,000–80,000 SKUs. Within the first 60 days of that period, the Company has already received approximately 42,829 pharmacy SKU orders and with the momentum in August is on track to fulfill and surpass the entire period goal.
Launches Personalized Genetic Testing and Wellness Solution on VSDHOne Platform
The Company has shared its story at multiple investor conferences and will continue this outreach in Q3 and throughout the year.
In 2025, the Company received unpaid analyst coverage from firms including Maxim Group and Beacon Securities, and will continue pursuing additional high-quality coverage throughout the year and beyond.
Hydreight Technologies Signed Binding Letter of Intent to Acquire 5% Equity Stake in Perfect Scripts, LLC, with Option to Increase to 40%, and Establish Strategic Partnership (read more)
Hydreight Technologies will host a live earnings call to discuss its Q2, 2025 results, provide a business update, and share insights into the Company's strategic priorities for 2025.
Shane Madden, CEO of Hydreight, commented: "As we entered Q2, we set clear strategic goals, and I'm pleased to report we've either achieved them or made significant progress. We remained focused on growth across all three verticals while delivering profitability and sustaining positive Adjusted EBITDA. We also expanded into genetic testing, anti-aging, and mental wellness—broadening our reach and value to patients. At the same time, we've advanced the onboarding of high-volume franchise and direct-to-consumer partners, while pursuing tuck-in M&A opportunities that strengthen both revenue and margins. These milestones position us strongly for the remainder of 2025 and beyond."
Highlights and Subsequent Events
On May 27, 2025, Hydreight Launches Personalized Genetic Testing and Wellness Solution on VSDHOne Platform
On May 5, 2025, Hydreight Technologies Appoints Dr. Roebuck As a Director of the Company
On May 1, 2025, Hydreight Achieves Record Revenue and Profitability Milestone in Q4 2024 Audited Results
On April 17, 2025, Hydreight Technologies to Present at the Planet MicroCap Showcase: VEGAS in partnership with MicroCapClub on Wednesday, April 23, 2025 & 1×1 Meetings on Thursday, April 24, 2025
On April 15, 2025, Hydreight Technologies Expands GLP-1 Telehealth Suite with Launch of Liraglutide on VSDHOne Platform
On April 8, 2025, Hydreight Technologies Partners with Renowned Endocrinologist Dr. Franklin Joseph to Bring Globally Successful Weight Loss Brand to the U.S. via VSDHOne Platform
On April 2, 2025, Hydreight Technologies Named One of the Americas' Fastest Growing Companies by Financial Times
On February 27, 2025, Hydreight Technologies Expands Telehealth Services with New Oral Weight Loss Therapies on VSDHOne Platform
On February 26, 2025, Hydreight Technologies Inc. Announces Closing of $5.4 Million LIFE Offering
On February 19, 2025, Hydreight Technologies Recognized as a Top 50 TSX Venture Exchange Company
On February 18, 2025, Hydreight Technologies Provides Update to Financing
On February 10, 2025, Hydreight Technologies Inc. Announces LIFE Offering of up to $4 Million
On February 5, 2025, Hydreight Technologies Expands Telehealth Offerings with Launch of NAD+ Therapy on VSDHOne Platform
On January 29, 2025, Hydreight Technologies Partners with The DRIPBaR to Launch ‘DRIPBaR Direct' Nationwide, Expanding Access to Direct-to-Consumer Healthcare Services
On January 21, 2025, Hydreight and Victory Square Launch $10 Million Health Accelerator to Fuel Nationwide Expansion of Emerging Healthcare Brands on VSDHOne platform
On January 9, 2025, Hydreight Technologies Provides Shareholder Update on 2024 Milestones and 2025 Vision
The Company believes the following Non-GAAP1 financial measures provide meaningful insight to aid in the understanding of the Company's performance and may assist in the evaluation of the Company's business relative to that of its peers:
Three months ended June 30,
Six months ended June 30,
2025
2024
% change
2025
2024
% change
Adjusted Revenue
$
7,348,796
$
5,589,481
31%
$
13,876,753
$
10,456,485
33%
Deduct - deferred business partner contract revenue
198,794
(186,935
)
652,934
(303,913
)
Deduct - business partner payouts on app service gross revenue
1,773,483
1,676,204
3,307,178
3,282,580