Health In Tech Announces Second Quarter 2025 Financial Results Revenues of $9.3 million, up 86% YoY; The first-half year revenues of $17.3 million, 89% of full year 2024. Adjusted EBITDA of $1.6 million, up 134% YoY; The

In Tech Announces Second Quarter 2025 Financial Results

FL., July 21, 2025 /PRNewswire/ - Health In Tech (Nasdaq: HIT), an Insurtech platform company backed by third-party AI technology,

today announced its financial results for the second quarter ended June 30, 2025.

Highlights for the Second Quarter and First-Half of 2025:

delivered another strong quarter of profitable growth, with total revenue reaching $9.3 million-up 86% year over year-and

first-half revenues already at 89% of our full-year 2024 total," said Tim Johnson, CEO of Health In Tech. "Our distribution

network has expanded to 778 partners-an 87% increase year over year-reflecting our strategic focus on growing beyond traditional

broker channels. We've established partnerships with TPAs offering technology-driven solutions, regional healthcare benefit providers,

and service platforms that support small businesses. This approach is broadening our market reach and delivering greater value to our

customers. The 30% increase in billed enrolled employees and strong adoption across our network underscore the demand for our differentiated

services and offering."

Johnson added, "What's particularly exciting is that many of our partners are now using our platform to bundle healthcare

insurance with their existing services, enabling them to serve small business employer better by offering integrated, end-to-end solutions.

Our AI-powered platform is easy to implement and highly intuitive, making it an ideal tool for partners seeking efficiency and scalability.

With a broader distribution footprint and multiple new relationships in place, we're confident in our ability to maintain strong

growth momentum through the rest of the year."

pleased with our second quarter results, which reflect strong execution and disciplined financial management across the business,"

said Julia Qian, CFO of Health In Tech. "Q2 revenue reached $9.3 million, bringing first-half revenue to $17.3 million-already

89% of our full-year 2024 total-driven by continued strategic expansion of our distribution network and strong customer acquisition.

Adjusted EBITDA for the quarter was $1.6 million, up 134% year over year, with first-half adjusted EBITDA reaching $2.8 million-1.2

times our full-year 2024 result. First-half pretax income represented 8.8% of revenue, a nearly 300 basis point improvement year over

year, demonstrating our ability to maintain expense discipline and allocate resources effectively to drive top-line growth. Supported

by a solid $8.1 million cash position, we remain focused on investing in high-impact initiatives and advanced technology solutions that

scale efficiently and sustain profitable growth.".

Business Developments and Highlights

In Tech will host a conference call to discuss the financial results for the second quarter of 2025 on July 21, 2025, at 5:00 p.m. (ET).

To participate in our live conference call and webcast, please dial 1-888-346-8982 or 1-412-902-4272 (for international participants).

live audio webcast will be available via the Investor Relations page of Health In Tech's website at https://healthintech.com/.

A replay of the webcast will be available for on-demand listening shortly after the completion of the call, at the same web link, and

will remain available for approximately 90 days.

Financial Information

release presents Adjusted EBITDA, a non-GAAP financial metric, which is provided as a complement to the results provided in accordance

with accounting principles generally accepted in the United States of America ("GAAP"). A reconciliation of historical non-GAAP

financial information to the most directly comparable GAAP financial measure is provided in the accompanying tables found at the end

of Forward-Looking Statements

statements in this press release are forward-looking statements for purposes of the safe harbor provisions under the U.S. Private Securities

Litigation Reform Act of 1995. Forward-looking statements may include estimates or expectations about Health In Tech's possible or assumed

operational results, financial condition, business strategies and plans, market opportunities, competitive position, industry environment,

and potential growth opportunities. In some cases, forward-looking statements can be identified by terms such as "may," "will,"

"should," "design," "target," "aim," "hope," "expect," "could,"

"intend," "plan," "anticipate," "estimate," "believe," "continue," "predict,"

"project," "potential," "goal," or other words that convey the uncertainty of future events or outcomes.

These statements relate to future events or to Health In Tech's future financial performance, and involve known and unknown risks, uncertainties

and other factors that may cause Health In Tech's actual results, levels of activity, performance, or achievements to be different from

any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. You should

not place undue reliance on forward-looking statements because they involve known and unknown risks, uncertainties and other factors

which are, in some cases, beyond Health In Tech's control and which could, and likely will, affect actual results, levels of activity,

performance or achievements. Any forward-looking statement reflects Health In Tech's current views with respect to future events and

is subject to these and other risks, uncertainties and assumptions relating to Health In Tech's operations, results of operations, growth

strategy and liquidity.

In Tech (Nasdaq: "HIT") is an Insurtech platform company backed by third-party AI technology, which offers a marketplace

that aims to improve processes in the healthcare industry through vertical integration, process simplification, and automation. By removing

friction and complexities, we streamline the underwriting, sales and service process for insurance companies, licensed brokers, and TPAs.

Learn more at healthintech.com.

Statements of Operations

Statements of Cash Flows

EBITDA Reconciliation

of Operating Results

we generate our revenue primarily from small employers and insurance carriers, we grow our business primarily from offering solutions

that streamline sales processes, enhance service delivery, and reduce the sales cycle duration for TPAs, MGUs, and Brokers. We offer

our services through our three subsidiaries. Program services provided by SMR and MGU activities provided by ICE (including eDIYBS) are

interdependent, as they cannot function effectively without being combined. Services provided by HI Card are an optional add-on to our

other services, and cannot be offered on a standalone basis. Brokers that utilize the program services on behalf of the small employer

provided by SMR and MGU activities provided by ICE, are not obligated to utilize our HI Card service. Currently ICE does not offer underwriting

services as a standalone service. In the future, we may consider offering it as a standalone service.

of revenues primarily consists of infrastructure costs to operate our platform such as hosting fees and fees paid to various third-party

partners for access to their technology, services and amortization expenses of our capitalized internal-use software related to our platform.

We mainly outsource captive management services and data services from the third-party companies. Our internal proprietary system seeks

to consistently improve underwriting and services results through machine learning and data feeds. The captive management activities

include introducing new carriers, conducting due diligence on carriers, conducting feasibility studies to determine the viability to

be a stop-loss carrier on the platform, negotiating terms and contracts, coordinating audit requests, managing relationship with unrelated

carriers and their regulators and auditor firms to ensure that our risk associated with our service offerings is minimized.

and marketing expenses

and marketing expenses primarily consist of personnel-related costs including salaries, stock-based compensation expense, benefits and

commissions cost for our sales and marketing personnel. Sales and marketing expenses also include the costs for advertising, promotional

and other marketing activities, as well as certain fees paid to various third-party for sales and customer acquisition.

and administrative expenses

and administrative expenses primarily consist of personnel-related costs and related expenses for our executives, finance, legal, human

resources, technical support, and administrative personnel as well as the costs associated with professional fees for external legal,

accounting and other consulting services, insurance premiums.

and development expenses

and development expenses primarily consist of personnel-related costs, including salaries, stock-based compensation expense and benefits

for our research and development personnel. Additional expenses include costs related to the software development, quality assurance,

and testing of new technology, and enhancement of our existing platform technology.

EBITDA represents our net income before net interest expense, taxes, and depreciation and amortization expense, adjusted to eliminate

stock-based compensation expense. Adjusted EBITDA is not a measure calculated in accordance with United States Generally Accepted Accounting

Principles, or GAAP. We exclude certain non-recurring or non-cash items when calculating Adjusted EBITDA, and we believe this approach

provides a more meaningful measure by offering a clearer view of our underlying operational performance.