Q3 2025 Earnings Conference Call

2025 Earnings Conference Call

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Q&A Conference Code: 10204413

Good day, ladies and gentlemen. Thank you for standing by, and welcome

to the Health In Tech third quarter of 2025 earnings conference call. Currently, all participants are in listen-only mode. Later, we will

conduct a question-and-answer session, and instructions will follow at that time. As a reminder, we are recording today's call. If you

have any objections, you may disconnect at this time.

Now I will turn the call over to Lori Babcock, Chief of Staff for the

company, Ms. Babcock, please proceed.

Lori Babcock - Chief of Staff

Thank you, operator, and hello, everyone. Welcome to the Health in

Tech's third quarter of 2025 earnings conference call, joining us today are Mr. Tim Johnson, Chief Executive Officer, Mr. Dustin

Plantholt, Chief AI & Marketing Officer, and Ms. Julia Qian, Chief Financial Officer. Full details of our results can be found in

our earnings press release and in our related Form 10-Q, to be filed with the SEC. These documents will be available on our Investor Relations

website at healthintech.investorroom.com. As a reminder, today's call is being recorded, and a replay will be available on our IR website

Before we continue, please note that today's discussion includes forward-looking

statements made pursuant to the Safe Harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. These statements

are based on information available as of today and involve risks, uncertainties, and assumptions that could cause actual results to differ

materially from those expressed or implied, including those discussed in our quarterly report on Form 10-Q for the period ended September

30, 2025, to be filed with the SEC. Please review the forward-looking and cautionary statements section at the end of our earnings release

for various factors that could cause actual results to differ materially from forward-looking statements made during our call today.

We undertake no obligation to update and expressly disclaim the obligation

to update these forward-looking statements to reflect events or circumstances after the date of this call or to reflect new information

or the occurrence of unanticipated events. We may also refer to certain financial measures not in accordance with generally accepted accounting

principles, such as adjusted EBITDA for comparison purpose only. Our GAAP results and reconciliations of GAAP to non-GAAP measures can

be found in our earnings press release.

With that, I will now turn the call over to our CEO, Mr. Tim Johnson.

Thank you, and good afternoon, everyone. I appreciate you joining us

I'm pleased to share our third quarter results, which were well

aligned with our expectations as we continued to invest in strategic channel partners and rapidly expand our distribution network.

At a high level, we delivered another quarter of strong revenue growth.

Revenue reached $8.5 million, up 90% year over year, bringing nine-month revenue to $25.8 million, compared to $19.5 million for the full

This momentum was driven by the continued expansion of our sales distribution

network. The number of brokers, TPAs, and agencies grew to 849 partners, up 57% year over year. As more brokers and agencies adopt our

eDIYBS platform, we're seeing more quotes bound and sold in real time. By the end of the third quarter, the number of billed enrolled

employees reached 25,248, an increase of 7,654 employees year over year.

The third quarter is typically a development and deployment period

for us-a time to introduce new programs and features.

Most notably, we completed beta testing and officially launched the

large-employer underwriting capability within our enhanced eDIYBS platform.

This is a major milestone that scales our reach across the full employer

spectrum, positioning Health In Tech as a true insurance marketplace for businesses of all sizes. The new capability enables brokers to

generate fully bindable quotes for groups of 150 or more employees in as little as two weeks, compared to the industry norm of about three

months. This advancement dramatically expands our addressable market and establishes Health In Tech among the few platforms serving both

small and large employers seamlessly.

Soon after the launch, we showcased this innovation at the SIIA National

Conference in October 2025, one of the most influential events in the self-insurance industry. Our participation there helped accelerate

national exposure and strengthen broker relationships-key catalysts for future growth.

As we look to the fourth quarter and into Q1 2026, we're entering

our peak enrollment period when employers review or switch their healthcare coverage. Recent market uncertainty and rising healthcare

costs have created mixed timing patterns - with some employers making early plan selections in late Q3, while others are delaying

decisions into January. As a result, we delivered much better year over year growth in Q3, and anticipating sales volume shift from Q4

into Q1, but still expect healthy year-over-year growth overall.

To help employers navigate cost volatility, we're testing a new

program offering a three-year rate hold-a solution that provides predictable, stable pricing over a multi-year period.The program

allows groups with 150 or more employees to lock in healthcare costs for three years through a fixed remittance model backed by an A-rated

It brings real value to clients looking for cost stability amid rising

medical expenses, while also strengthening our relationships with brokers and TPAs. By providing cost certainty amid rising medical expenses,

we're giving brokers and TPAs a powerful retention tool and helping employers plan long term with greater confidence. We completed

initial testing in October and plan to fully launch the program in the first quarter of 2026.

We believe it represents an innovative concept for the broader healthcare

insurance market and we're optimistic about its reception as we enter 2026.

Beyond underwriting innovation, we're setting our sights on one

of the largest inefficiencies in U.S. healthcare-claims processing, which consumes more than $300 billion annually in administrative

This quarter, we announced a non-binding Letter of Intent with AlphaTON

Capital Corp. to co-develop HITChain, a blockchain-enabled platform designed to bring real-time visibility, accuracy, and accountability

to claims workflows across the ecosystem.

Under this LOI, both companies plan to contribute distinct strengths:

Health In Tech brings domain expertise in insurance and healthcare

data standards, established broker and carrier relationships, proven go-to-market channels, and leadership in health technology design.

AlphaTON Capital contributes blockchain development expertise on The

Open Network (TON), smart contract architecture, cybersecurity, stablecoin integration for secure payments, and capital resources for

enterprise-scale deployment.

Together-with AlphaTON's blockchain infrastructure and

Brittany Kaiser's leadership in data ethics-we are building HITChain, a decentralized and verifiable claims system aimed at

compressing timelines, eliminating duplication, reducing costs, and creating a transparent system of record for payers and providers alike.

By combining insurance domain expertise with blockchain innovation,

Health In Tech is positioned at the forefront of decentralized healthcare insurance technology infrastructure-a market opportunity

of meaningful scale and long-term impact.

Lastly, we're thrilled to share that Health In Tech will host

the InsurTech Summit in Davos during the World Economic Forum week in January 2026. This event will convene global thought leaders to

discuss AI, technology, and the transformation of critical business sectors, including healthcare and insurance.

With that, I'll now turn it over to Dustin, who will walk through

our latest marketing and partnership initiatives in greater detail.

Dustin Plantholt- Chief AI & Marketing Officer

Thank you, Tim, and good afternoon, everyone.

As Tim mentioned, we will take Health In Tech to the center of the

global innovation stage by hosting our first Independent InsurTech Summit on January 20, 2026, during the World Economic Forum Week in

The World Economic Forum, held each January in Davos, is one of the

world's most prestigious gatherings of global leaders across business, government, academia, and civil society. It serves as a powerful

platform for shaping global, regional, and industry agendas-and this year, Health In Tech will be among the organizations leading

Our Summit will feature a curated lineup of panels on artificial intelligence,

digital transformation in healthcare, and blockchain-enabled system reform-all focused on redefining how technology can drive transparency,

efficiency, and equity across the $4.5 trillion healthcare economy.