VitalHub Reports Third Quarter 2025 Results

2 hours ago 1

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(1) Non-IFRS measure. Disclaimers and reconciliations can be found in SEDAR filings.

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Selected Financial Information

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	Three months ended							Nine months ended
	September 30, 2025		% Revenue	September 30, 2024		% Revenue	Change	September 30, 2025		% Revenue	September 30, 2024		% Revenue	Change
	$			$			%	$			$			%
Revenue	32,044,030		100%	16,509,135		100%	94%	77,576,544		100%	48,003,531		100%	62%

Cost of sales	6,162,109		19%	3,215,845		19%	(92%)	14,892,110		19%	9,258,338		19%	(61%)

Gross profit	25,881,921		81%	13,293,290		81%	95%	62,684,434		81%	38,745,193		81%	62%

Operating expenses
General and administrative	6,485,230		20%	3,555,539		22%	(82%)	16,433,883		21%	10,008,360		21%	(64%)
Sales and marketing	2,883,744		9%	1,562,915		9%	(85%)	7,608,691		10%	5,081,213		11%	(50%)
Research and development	9,237,648		29%	3,943,697		24%	(134%)	20,490,859		26%	11,037,178		23%	(86%)
Depreciation of property and equipment	155,054		0%	93,687		1%	(66%)	547,992		1%	252,691		1%	(117%)
Depreciation of right-of-use assets	175,720		1%	108,905		1%	(61%)	401,115		1%	326,912		1%	(23%)
Share-based compensation	647,324		2%	636,177		4%	(2%)	2,057,535		3%	1,660,430		3%	(24%)
Deferred share-based compensation	0		0%	0		0%	0%	90,000		0%	0		0%	(100%)
Foreign currency loss (gain)	69,042		0%	(323,458	)	(2%)	121%	(978,659	)	(1%)	(175,072	)	(0%)	(459%)

Other expenses (income)
Amortization of intangible assets	3,315,437		10%	1,197,953		7%	(177%)	6,674,571		9%	3,418,794		7%	(95%)
Business acquisition, restructuring and integration costs	3,204,291		10%	841,454		5%	(281%)	6,637,858		9%	2,652,758		6%	(150%)
(Gain) loss on change in fair value of contingent consideration	(1,245,000	)	(4%)	72,932		0%	1807%	(1,009,502	)	(1%)	404,824		1%	349%
Interest expense (net of interest income)	(481,136	)	(2%)	(766,046	)	(5%)	(37%)	(1,479,009	)	(2%)	(1,680,448	)	(4%)	(12%)
Interest expense from lease liabilities	25,893		0%	9,277		0%	(179%)	53,717		0%	34,795		0%	(54%)
Loss on disposal of property and equipment	0		0%	0		0%	0%	4,070		0%	0		0%	(100%)

Current and deferred income taxes	2,298,934		7%	1,131,871		7%	(103%)	3,107,884		4%	3,510,958		7%	11%

Net income (loss)	(890,260	)	(3%)	1,228,387		7%	(172%)	2,043,429		3%	2,211,800		5%	(8%)

EBITDA^{(Non-IFRS measure)}	4,599,642		14%	3,004,034		18%	53%	11,349,699		15%	8,075,502		17%	41%

Adjusted EBITDA^{(Non-IFRS measure)}	7,206,257		22%	4,554,597		28%	58%	19,125,590		25%	12,793,514		27%	49%

Annual recurring revenue^{(Non-IFRS measure)}	93,693,789			53,452,108			75%	93,693,789			53,452,108			75%

Term licences, maintenance and support revenue	23,627,391		74%	13,892,323		84%	70%	61,865,501		80%	39,396,754		82%	57%



						As at
						September 30, 2025	December 31, 2024
						$	$
	Cash balance					123,684,500	56,574,904

	Deferred revenue					54,851,879	35,636,002

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About VitalHub

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VitalHub is a leading software company dedicated to empowering health and human services providers globally. VitalHub’s comprehensive product suite includes electronic health records, operational intelligence, and workforce automation solutions that serve over 1,000 clients across the UK, Canada, and other geographies. The Company has a robust two-pronged growth strategy, targeting organic opportunities within its product suite and pursuing an aggressive M&A plan. VitalHub is headquartered in Toronto with over 500 employees globally, across key regions and the VitalHub Innovations Lab in Sri Lanka. For more information about VitalHub (TSX:VHI) (OTCQX:VHIBF), please visit www.vitalhub.com and LinkedIn.

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Contact Information

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Christian Sgro, CPA, CA, CFA
Head of IR and M&A Specialist
(365) 363-6433
[email protected]

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Dan Matlow
Chief Executive Officer, Director
(416) 727-9061
[email protected]

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Cautionary Statement

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Certain statements contained in this news release may constitute “forward-looking information” or “financial outlook” within the meaning of applicable securities laws that involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking information or financial outlook. Often, but not always, forward-looking statements can be identified by the use of words such as “plans”, “is expected”, “expects”, “scheduled”, “intends”, “contemplates”, “anticipates”, “believes”, “proposes” or variations (including negative variations) of such words and phrases, or state that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved. Such statements are based on the current expectations of the management of each entity and are based on assumptions and subject to risks and uncertainties. Although the management of each entity believes that the assumptions underlying these statements are reasonable, they may prove to be incorrect. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. No forward-looking statement can be guaranteed. Except as required by applicable securities laws, forward-looking statements speak only as of the date on which they are made and the Company undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise.

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