VitalHub Reports Fourth Quarter 2025 Results

Executive Summary

• VitalHub reported a strong 2025 year, with ARR up 35% YoY to $96.1 M and total revenue up 52% YoY to $31.4 M for Q4 and $108.97 M for the full year.
• Adjusted EBITDA rose 47% YoY to $7.43 M in Q4 (24% of revenue) and $26.55 M for the year (24% of revenue).
• Cash and short‑term investments more than doubled to $119.2 M, supporting a robust balance sheet for further acquisitions.

Key Details

• Annual Recurring Revenue (ARR) – $96,149,750 as of 31 Dec 2025 vs. $71,054,210 on 31 Dec 2024 (+35%).
• Quarter‑end ARR growth – Q4 2025 ARR $96,149,750 vs. Q3 2025 $93,693,789 (+3%); driven by organic growth ($1.88 M) and FX gain ($0.57 M).
• Revenue – Q4 2025: $31,390,374 (↑52% YoY); FY 2025: $108,966,918 (↑59% YoY).
• Gross profit margin – FY 2025: 80% of revenue (down from 81% in FY 2024).
• Net income – Q4 2025: $4.07 M vs. $0.79 M YoY; FY 2025: $6.11 M vs. $3.00 M YoY.
• EBITDA – Q4 2025: $3.29 M (↑75% YoY); FY 2025: $14.63 M (↑47% YoY).
• Adjusted EBITDA – Q4 2025: $7.43 M (24% of revenue, ↓1 ppt YoY); FY 2025: $26.55 M (24% of revenue, ↓2 ppt YoY).
• Cash & short‑term investments – $119.18 M at year‑end 2025 vs. $56.57 M at year‑end 2024.
• Deferred revenue – $45.43 M (up from $35.64 M).
• Operating expense highlights (FY 2025):
• General & admin: $22.46 M (21% of revenue, ↓11% YoY)
• Sales & marketing: $10.28 M (9% of revenue, ↓59% YoY)
• R&D: $28.95 M (27% of revenue, ↑102% YoY)
• Non‑IFRS measures – ARR defined as annual renewable software license fees and maintenance services; adjusted EBITDA excludes share‑based compensation, acquisition integration costs, and contingent consideration adjustments.
• Management commentary – CEO Dan Matlow highlighted the $100 M revenue milestone, ongoing M&A integration, AI‑driven product roadmap, and a strong balance sheet positioning VitalHub for further acquisitions in 2026.

Notable Quotes

“2025 was a milestone year for VitalHub, surpassing $100 million in revenue… We have a strong balance sheet as we consider acquisition opportunities of all sizes in our core and adjacent geographies.” – Dan Matlow, CEO

Materiality: Material – Positive (significant revenue growth, profitability improvement, and substantial cash position).