Call 800 665 0411 to learn about our services for your stock

Digital Health Stocks in Play - WELL Health Technologies Corp. (TSX: WELL) (OTCQX: WHTCF) Trends on Earnings

May 8, 2024 (Investorideas.com Newswire) Investorideas.com, a go-to platform for big investing ideas, reports on trading for WELL Health Technologies Corp. (TSX: WELL) (OTCQX: WHTCF), a digital healthcare company focused on positively impacting health outcomes by leveraging technology to empower healthcare practitioners and their patients globally.

The stock is trending and one of the top percentage gainers on The TSX following earnings news. The stock is trading at $3.8800, up 0.3000, gaining 8.3449% on the TSX. The stock had a morning high of $3.93.

WELL Health announced its interim consolidated financial results for the quarter ended March 31, 2024.

First Quarter 2024 Financial Highlights:

WELL achieved record quarterly revenue of $231.6 million in Q1-2024, an increase of 37% as compared to revenue of $169.4 million generated in Q1-2023. This growth was partially driven by organic growth of 13%

Canadian Patient Services revenue was $75.7 million in Q1-2024, an increase of 49% as compared to $50.9 million in Q1-2023.

WELL Health USA Patient and Provider Services revenue was $140.4 million in Q1-2024, an increase of 42% as compared to $99.2 million in Q1-2023.

SaaS and Technology Services revenue was $15.4 million in Q1-2024, a decrease of 20% as compared to $19.4 million in Q1-2023. This decrease was partially due to the sale of Intrahealth.

Adjusted Gross Profit(1) was $102.2 million in Q1-2024, an increase of 19% as compared to Adjusted Gross Profit(1) of $86.2 million in Q1-2023.

Adjusted Gross Margin(1) percentage was 44.1% during Q1-2024 compared to Adjusted Gross Margin(1) percentage of 50.9% in Q1-2023 and an improvement as compared to 43.7% in the previous quarter. The YoY decline in Adjusted Gross Margin percentage is mainly attributed to the acquisition of businesses with lower gross margin percentage in 2023.

Adjusted EBITDA(1) was $28.3 million in Q1-2024, an increase of 6% as compared to Adjusted EBITDA(1) of $26.7 million in Q1-2023.

Adjusted EBITDA to WELL shareholders was $21.4 million in Q1-2024, an increase of 4% as compared to Adjusted EBITDA to WELL shareholders of $20.6 million in Q1-2023.

Adjusted EBITDA attributable to the Canadian business was $14.6 million in Q1-2024, an increase of 19% YoY

Adjusted Net Income(1) was $20.2 million, or $0.08 per share in Q1-2024, as compared to Adjusted Net Income(1) of $14.1 million, or $0.06 per share in Q1-2023.

News:

https://ca.finance.yahoo.com/news/well-health-reports-record-quarterly-110000580.html

Research more telehealth/ digital health stocks with Investorideas.com free stock directory

https://www.investorideas.com/BIS/Stock_List.asp

About Investorideas.com - Big Investing Ideas

Investorideas.com is the go-to platform for big investing ideas. From breaking stock news to top-rated investing podcasts, we cover it all. Our original branded content includes podcasts such as Exploring Mining, Cleantech, Crypto Corner, Cannabis News, and the AI Eye. We also create free investor stock directories for various sectors, including gaming, biotech, tech and sports. Public companies within the sectors we cover can use our news publishing and content creation services to help tell their story to interested investors. Paid content is always disclosed.

Disclaimer/Disclosure: Investorideas.com is a digital publisher of third party sourced news, articles and equity research as well as creates original content, including video, interviews and articles. Original content created by investorideas is protected by copyright laws other than syndication rights. Our site does not make recommendations for purchases or sale of stocks, services or products. Nothing on our sites should be construed as an offer or solicitation to buy or sell products or securities. All investing involves risk and possible losses. This site is currently compensated for news publication and distribution, social media and marketing, content creation and more. Disclosure is posted for each compensated news release, content published /created if required but otherwise the news was not compensated for and was published for the sole interest of our readers and followers. Contact management and IR of each company directly regarding specific questions. More disclaimer info: https://www.investorideas.com/About/Disclaimer.asp Learn more about publishing your news release and our other news services on the Investorideas.com newswire https://www.investorideas.com/News-Upload/ Global investors must adhere to regulations of each country. Please read Investorideas.com privacy policy: https://www.investorideas.com/About/Private_Policy.asp This content was not AI generated.

Contact Investorideas.com

Dawn Van Zant and Cali Van Zant

800 665 0411

LOHAS Stocks investor research at Investorideas.com

Health, Wellness and Sustainability Stocks Research and News at Investorideas.com - investing ideas for a better world

Like Health, Wellness and Sustainability Stocks? View our LOHAS Stocks Directory