WELL Health Technologies Corp (WHTCF) Q3 2025 Earnings Call Highlights: Record Revenue and …

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• Revenue: $365 million in Q3 2025, up 56% year over year.

• Adjusted EBITDA: $59.9 million in Q3 2025, a 296% increase from Q3 2024.

• Gross Margin: Improved by 510 basis points to 45.5% from 40.4% last year.

• Free Cash Flow: $30.2 million in Q3 2025, including a divestiture; $15.1 million without it.

• Canadian Clinics Revenue: $325.3 million for the nine months ended September 30, 2025.

• Patient Visits: 2.7 million in Q3 2025, a 29% increase year over year.

• Number of Clinics: 227 clinics in Canada as of Q3 2025.

• Wellstar Revenue: $18.3 million in Q3 2025, a 67% increase year over year.

• HealWell Revenue: $30.4 million in Q3 2025, a 354% increase year over year.

• Circle Medical Revenue: $42 million in Q3 2025, a 120% increase year over year.

• CRH Revenue: $125.1 million in Q3 2025, a 32% increase year over year.

• Adjusted Net Income: $41 million or $0.16 per share in Q3 2025.

• Cash and Cash Equivalents: $82.5 million as of September 30, 2025.

Release Date: November 06, 2025

For the complete transcript of the earnings call, please refer to the full earnings call transcript.

• WELL Health Technologies Corp (WHTCF) reported a significant revenue increase of 56% year-over-year, reaching approximately $365 million for Q3 2025.

• The company achieved a remarkable growth in adjusted EBITDA, which increased by 296% to $59.9 million compared to the previous year.

• WELL Health Technologies Corp (WHTCF) improved its gross margins by 510 basis points to 45.5% from 40.4% last year.

• The Canadian clinics business showed strong performance with a compound annual growth rate exceeding 50% over the past four years.

• WELL Health Technologies Corp (WHTCF) has a robust M&A pipeline, with approximately $235 million in clinics under letters of intent (LOI), indicating strong future growth potential.

• Circle Medical’s patient visits were lower than last year due to a significant focus on compliance, impacting overall system-wide organic growth.

• The strategic review process for US assets, including Circle Medical, is expected to take longer, potentially delaying divestment plans.

• Free cash flow attributable to shareholders decreased slightly to $15.1 million in Q3 2025 from $16.1 million in Q3 of last year.

• The company incurred a $10.5 million impairment charge related to the divestment of HealWell’s clinical operations.

• There is a slower organic growth in patient visits system-wide, attributed to Circle Medical’s compliance focus, which could affect future revenue growth.