Hydreight Achieves 33% YoY H1 Revenue Growth, Records 3rd Consecutive Quarter of Profitability, and Strengthens Performance Across Verticals

Executive Summary

• Hydreight Technologies Inc. reported its financial results for the second quarter ended June 30, 2025, highlighting significant revenue growth and a return to profitability.
• The company announced a strategic acquisition: a binding Letter of Intent to acquire a 5% equity stake in Perfect Scripts, LLC, with an option to increase the stake to 40%, alongside a strategic partnership.
• Concurrently, the company launched a C$10 Million Convertible Debenture Offering to fund growth and strategic M&A, with Canaccord Genuity Corp. acting as lead agent.

Key Details

• Q2 2025 GAAP Revenue: $5.38 million, an increase of 31% compared to Q2 2024.
• Q2 2025 Topline Revenue: $7.35 million, an increase of 31% compared to Q2 2024.
• First 6 Months GAAP Revenue: $9.92 million, an increase of 33% year-over-year.
• First 6 Months Topline Revenue: $13.88 million, an increase of 33% year-over-year.
• Gross Margin: $1.93 million in Q2 2025, up from $1.56 million in Q2 2024.
• Adjusted EBITDA: $182,000 for Q2 2025.
• GAAP Net Income: $50,000 for Q2 2025, compared to a GAAP Net Loss of $27,000 in Q2 2024.
• Cash Position: $6.10 million in cash on hand at quarter-end.
• Operational Metrics:
  • Approximately 77% growth in new Nurse signups compared to Q2 2024.
  • Approximately 48% growth in the number of pharmacy orders compared to Q2 2024.
  • VSDHOne SKU orders between June and end of August projected at 70,000–80,000 SKUs; approximately 42,829 orders received in the first 60 days.
• Strategic Initiatives:
  • Launched Personalized Genetic Testing and Wellness Solution on the VSDHOne Platform (May 27, 2025).
  • Signed Binding Letter of Intent to acquire 5% equity stake in Perfect Scripts, LLC, with an option to increase to 40%. The deadline for the definitive agreement was extended to September 3, 2025.
  • Launched C$10 Million Convertible Debenture Offering (announced August 18, 2025), issued in C$1,000 multiples, with Canaccord Genuity Corp. as lead agent and sole bookrunner.
• Recent Corporate Actions:
  • Appointed Dr. Roebuck as a Director of the Company (May 5, 2025).
  • Achieved record revenue and profitability milestone in Q4 2024 audited results (May 1, 2025).
  • Expanded GLP-1 Telehealth Suite with Liraglutide (April 15, 2025).
  • Named one of the Americas’ Fastest Growing Companies by Financial Times (April 2, 2025).
  • Closed $5.4 Million LIFE Offering (February 26, 2025).

Notable Quotes

• “We had a great first 6 months, with 33% year-over-year growth. We have also exceeded our internal metrics across all verticals in the first seven months of the year, reinforcing the strength of our strategy. A key focus has been our investment in making the VSDHOne platform fully modular, allowing customers to adopt it module by module to fit their needs. At the same time, we’ve been prioritizing acquisitions and strategic investments that strengthen our margins, accelerate growth, and expand our ecosystem. These initiatives position us to scale efficiently and achieve our 2025 objectives.” – Shane Madden, CEO of Hydreight
• “As we entered Q2, we set clear strategic goals, and I’m pleased to report we’ve either achieved them or made significant progress. We remained focused on growth across all three verticals while delivering profitability and sustaining positive Adjusted EBITDA. We also expanded into genetic testing, anti-aging, and mental wellness—broadening our reach and value to patients. At the same time, we’ve advanced the onboarding of high-volume franchise and direct-to-consumer partners, while pursuing tuck-in M&A opportunities that strengthen both revenue and margins. These milestones position us strongly for the remainder of 2025 and beyond.” – Shane Madden, CEO of Hydreight
• “We’ve always prioritized being fiscally responsible—funding our growth without taking on debt. While we could already achieve positive net profit and maintain strong cash reserves, we saw an opportunity to accelerate our goals with major investments and strategic M&A. To support this growth, diversify our institutional investor base, and align with partners who believe in our long-term vision, we made the decision to launch this initiative.” – Shane Madden, CEO of Hydreight