HIT

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Health In Tech and AlphaTON Capital Sign Strategic Letter of Intent to Develop HITChain

Total revenues in 2nd quarter were $9.3 million, up 86% YoY, while first-half year revenues were $17.3 million

The company currently operates in 41 states, serving 942 business clients, 24,839 enrolled employees, and 778 brokers and TPAs

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Hello Everyone,

We want you to turn your attention to Health in Tech (Nasdaq: HIT) ahead of Wednesday's session.

If not, it might be worth taking a look — the company has been getting a lot more attention lately, and for good reason.

HIlT went public back in December. For a while, the stock didn’t do much, trading sideways before it took a big tumble in March, dropping well below the $1 mark. That selloff seemed to clear out the early IPO traders and short-term holders.

Since June, though, the story has completely flipped. The stock has staged an impressive comeback — climbing steadily, breaking through resistance levels, and showing some serious staying power.

On Tuesday HIT hit $3.81, its highest point since those rough days in March. That kind of recovery doesn’t happen by accident. The stock closed up about 12% on Monday, with trading volume that more than doubled its recent average — a sign that more investors are starting to pay attention.

The rally really kicked off around June 18th, and over the following month the stock tripled, logging only four red days in that span. Clearly, this isn’t the same HIT that debuted on the Nasdaq in late 2024.

What sparked the turnaround? A string of strong announcements — starting with solid earnings. HIT reported $9.3 million in revenue, up 86% year-over-year, and $17.3 million in revenue for the first half of the year — nearly matching all of 2024’s total in just six months. The company also reported over $8 million in cash on hand.

HIT operates an Insurtech platform that integrates third-party AI technology to streamline and automate processes across the healthcare insurance space. The platform helps insurance companies, brokers, and TPAs simplify underwriting, sales, and service workflows — cutting out friction and inefficiencies.

For context, self-funded health plans let employers pay healthcare claims directly, with stop-loss coverage for major expenses. HIT’s proprietary tech supports this model by simplifying complex underwriting and increasing transparency across the system.

While giants like UnitedHealth still dominate U.S. healthcare, smaller AI-driven companies like HIT are beginning to carve out meaningful space. The company currently operates in 41 states, serving 942 business clients, 24,839 enrolled employees, and 778 brokers and TPAs.

Several major news releases have followed since those earnings — helping fuel the momentum that’s pushed HIT sharply higher over the past few months.

A week later they announced a major expansion of its Enhanced Do-It-Yourself Benefit System (eDIYBS), extending its fast, AI-driven underwriting platform from small employers to mid- and large-sized businesses. The upgrade allows brokers serving companies with 150 or more employees to instantly upload and process claims data in multiple formats, dramatically cutting quoting times from months to about 10–14 days. Previously, eDIYBS reduced small-group quotes from two weeks to just minutes. The system’s new features include seamless data uploads, automated compliance checks, and a redesigned interface that reduces manual work and errors. With this expansion, HIT is entering the larger, higher-value employer market—positioning itself as a unified, technology-driven exchange for healthcare insurance at scale.

First, Health In Tech (Nasdaq: HIT) announced a strategic Letter of Intent with AlphaTON Capital (Nasdaq: ATON) to co-develop HITChain, a blockchain-powered healthcare claims processing platform built on The Open Network (TON). The partnership aims to tackle one of the biggest inefficiencies in U.S. healthcare—claims processing costs, fraud, and delays—by creating a transparent, verifiable system that reduces administrative expenses and improves trust among insurers, providers, and employers. Combining Health In Tech’s insurance expertise with AlphaTON’s blockchain and cybersecurity capabilities, HITChain seeks to modernize a $300+ billion segment of the $4.5 trillion U.S. healthcare market. The initiative positions HIT at the forefront of decentralized healthcare infrastructure and digital innovation in insurance technology.

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 first-half year adjusted EBITDA of $2.8 million, 1.2 times full year 2024.
Cash balance of $8.1 million.

STUART, Fla. , 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.

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

Revenues. Total revenues were $9.3 million, up 86% YoY. The first-half year revenues of $17.3 million, 89% of FY2024 total.
Billed Enrolled Employees. The number of billed enrolled employees (EEs) was 24,839, an increase of 5,738 EEs YoY.
Distribution. The number of Brokers, Third-party Administrator ("TPAs") and Agencies expanded to 778 partners, up 87% YoY.
Pre-tax income. Pre-tax income was $0.8 million, more than doubled YoY; The first-half year pre-tax income of $1.5 million, 1.7x of FY2024.
Adjusted EBITDA. Adjusted EBITDA was $1.6 million, up 134% YoY; The first-half year adjusted EBITDA of $2.8 million, 1.2x of FY2024.
Cash. Cash balance was $8.1 million as of June 30, 2025.
Accounts receivable, net. Accounts receivable balance was $1.3 million as of June 30, 2025, reduced $0.2 million YoY.

"We 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."

Mr. 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."

"We're 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.".

Recent Business Developments and Highlights

Verdegard Administrators: an integrated, concierge-level TPA, owned by MedImpact, the largest independent pharmacy benefit manager (PBM) in the U.S., managing prescription benefits for over 20 million members and processing tens of billions in annual drug transactions. This partnership will enable us to reduce costs for small businesses.
Unified Health Plans: a premier TPA recognized for its extensive provider network across Kansas. It has extensive provider network and focuses on controlling cost drivers and improving care quality. Unified dominates several niche business sectors in Kansas. The partnership with HIT will bring healthcare insurance solutions to the business members.
HILB Group, one of Insurance Journal's Top 25 ranked U.S. insurance brokers with over 2400 employee across more than 125+ branch locations in all 50 States. It partners with HIT to co-develop and distribute smarter, more transparent self-funded health benefit solutions to a much broader base of small and mid-size employers.
Baily Insurance, established in 1880, in its fourth -generation ownership. The agency has over 200 years of combined team experience. Licensed advisors partnering with multiple Carriers. Baily is a co-founder and key broker partner in Fusion Health Plans that provides better care services and tech-enabled solution. The collaboration with HIT will deliver faster underwriting, administration, and scalability.