Hydreight Technologies Provides Shareholder Update on 2024 Milestones and 2025 Vision
Hydreight Technologies (TSXV: NURS) (OTCQB: HYDTF) reported significant achievements in 2024, including the successful launch of VSDHOne, a telemedicine platform now operating in all 50 states with over 200 licenses sold. The company achieved record financial performance with $6.12 million in Q3 2024 revenue, representing a 54% year-over-year increase, and reached positive adjusted EBITDA.
The company reported $16.58 million in topline revenue for the first 9 months of 2024, a 37% increase compared to 2023. Hydreight was ranked 56th on Deloitte's Technology Fast 500™ in North America and 9th on Deloitte Canada's Technology Fast 50™.
For 2025, Hydreight plans to expand its platform by introducing comprehensive at-home testing services, driving organic growth through strategic acquisitions, and investing in technology partnerships. The company aims to address inefficiencies in the $4.9 trillion U.S. healthcare market through its national network of physicians, nurses, pharmacies, and compliance technology.
Hydreight Technologies (TSXV: NURS) (OTCQB: HYDTF) ha riportato risultati significativi nel 2024, tra cui il lancio riuscito di VSDHOne, una piattaforma di telemedicina ora operante in tutti i 50 stati con oltre 200 licenze vendute. L'azienda ha raggiunto un record nelle performance finanziarie con un fatturato di 6,12 milioni di dollari nel terzo trimestre del 2024, rappresentando un aumento del 54% rispetto all'anno precedente, e ha raggiunto un EBITDA rettificato positivo.
L'azienda ha riportato 16,58 milioni di dollari di fatturato totale nei primi 9 mesi del 2024, un aumento del 37% rispetto al 2023. Hydreight è stata classificata al 56° posto nella Technology Fast 500™ di Deloitte in Nord America e al 9° posto nella Technology Fast 50™ di Deloitte Canada.
Per il 2025, Hydreight prevede di espandere la propria piattaforma introducendo servizi completi di test a domicilio, promuovendo una crescita organica attraverso acquisizioni strategiche e investendo in partnership tecnologiche. L'azienda mira a risolvere le inefficienze nel mercato della salute negli Stati Uniti, valutato a 4,9 trilioni di dollari, attraverso la sua rete nazionale di medici, infermieri, farmacie e tecnologia di conformità.
Hydreight Technologies (TSXV: NURS) (OTCQB: HYDTF) reportó logros significativos en 2024, incluyendo el exitoso lanzamiento de VSDHOne, una plataforma de telemedicina que ahora opera en los 50 estados con más de 200 licencias vendidas. La compañía alcanzó un rendimiento financiero récord con 6,12 millones de dólares en ingresos del tercer trimestre de 2024, lo que representa un aumento del 54% en comparación con el año anterior, y logró un EBITDA ajustado positivo.
La empresa reportó 16,58 millones de dólares en ingresos totales durante los primeros 9 meses de 2024, un aumento del 37% en comparación con 2023. Hydreight fue clasificada en el 56° lugar en la lista Technology Fast 500™ de Deloitte en Norteamérica y en el 9° lugar en la Technology Fast 50™ de Deloitte Canadá.
Para 2025, Hydreight planea expandir su plataforma introduciendo servicios completos de prueba a domicilio, impulsando el crecimiento orgánico a través de adquisiciones estratégicas e invirtiendo en asociaciones tecnológicas. La empresa tiene como objetivo abordar ineficiencias en el mercado de atención médica de EE. UU., valorado en 4,9 billones de dólares, a través de su red nacional de médicos, enfermeras, farmacias y tecnología de cumplimiento.
Hydreight Technologies (TSXV: NURS) (OTCQB: HYDTF)는 2024년에 중요한 성과를 보고하였으며, 그 중 VSDHOne의 성공적인 출시가 포함됩니다. 이 원격 의료 플랫폼은 현재 50개 주에서 운영되고 있으며 200개 이상의 라이선스가 판매되었습니다. 이 회사는 2024년 3분기 수익으로 612만 달러를 기록하며 전년 대비 54% 증가한 재무 성과를 달성하였고, 긍정적인 조정 EBITDA에 도달했습니다.
회사는 2024년 첫 9개월 동안 총 1658만 달러의 매출을 보고하였으며, 이는 2023년 대비 37% 증가한 수치입니다. Hydreight는 북미에서 Deloitte의 Technology Fast 500™에서 56위, Deloitte 캐나다의 Technology Fast 50™에서 9위를 차지했습니다.
2025년을 위해 Hydreight는 포괄적인 가정 검사 서비스를 도입하여 플랫폼을 확장하고, 전략적 인수 통해 유기적 성장을 추진하며, 기술 파트너십에 투자할 계획입니다. 이 회사는 4.9조 달러 규모의 미국 의료 시장에서 비효율성을 해결하기 위해 의사, 간호사, 약국, 준수 기술의 국가 네트워크를 통해 목표를 두고 있습니다.
Hydreight Technologies (TSXV: NURS) (OTCQB: HYDTF) a rapporté des réalisations importantes en 2024, y compris le lancement réussi de VSDHOne, une plateforme de télémédecine maintenant opérationnelle dans les 50 États avec plus de 200 licences vendues. L'entreprise a atteint des performances financières record avec un chiffre d'affaires de 6,12 millions de dollars au troisième trimestre 2024, représentant une augmentation de 54 % par rapport à l'année précédente, et a atteint un EBITDA ajusté positif.
La société a rapporté 16,58 millions de dollars de revenus pour les neuf premiers mois de 2024, soit une augmentation de 37 % par rapport à 2023. Hydreight a été classée 56e au classement Technology Fast 500™ de Deloitte en Amérique du Nord et 9e au classement Technology Fast 50™ de Deloitte Canada.
Pour 2025, Hydreight prévoit d'élargir sa plateforme en introduisant des services de tests complets à domicile, en favorisant une croissance organique grâce à des acquisitions stratégiques, et en investissant dans des partenariats technologiques. L'entreprise vise à résoudre les inefficacités sur le marché de la santé aux États-Unis, évalué à 4,9 billions de dollars, grâce à son réseau national de médecins, d'infirmières, de pharmacies et de technologies de conformité.
Hydreight Technologies (TSXV: NURS) (OTCQB: HYDTF) berichtete 2024 über bedeutende Erfolge, darunter die erfolgreiche Einführung von VSDHOne, einer Telemedizin-Plattform, die nun in allen 50 Bundesstaaten tätig ist und über 200 Lizenzen verkauft hat. Das Unternehmen erzielte eine Rekordleistung mit einem Umsatz von 6,12 Millionen Dollar im dritten Quartal 2024, was einem Anstieg von 54% im Jahresvergleich entspricht, und erreichte ein positives bereinigtes EBITDA.
Das Unternehmen meldete einen Umsatz von 16,58 Millionen Dollar in den ersten 9 Monaten des Jahres 2024, was einem Anstieg von 37% im Vergleich zu 2023 entspricht. Hydreight wurde auf Platz 56 der Deloitte Technology Fast 500™ in Nordamerika und auf Platz 9 der Technology Fast 50™ von Deloitte Kanada eingestuft.
Für 2025 plant Hydreight, seine Plattform durch die Einführung umfassender Testdienstleistungen für zu Hause auszuweiten, organisches Wachstum durch strategische Übernahmen voranzutreiben und in Technologiepartnerschaften zu investieren. Das Unternehmen zielt darauf ab, Ineffizienzen im US-Gesundheitsmarkt im Wert von 4,9 Billionen Dollar durch sein nationales Netzwerk aus Ärzten, Pflegekräften, Apotheken und Compliance-Technologie anzugehen.
- Revenue growth of 54% YoY to $6.12M in Q3 2024
- Achieved positive adjusted EBITDA
- Successfully sold and onboarded 200+ VSDHOne licenses across all 50 states
- 37% increase in 9-month topline revenue to $16.58M compared to 2023
- Ranked 56th on Deloitte's Technology Fast 500™ and 9th on Technology Fast 50™
- None.
VANCOUVER, British Columbia and LAS VEGAS, Jan. 09, 2025 (GLOBE NEWSWIRE) -- Hydreight Technologies Inc. (“Hydreight” or the “Company”) (TSXV: NURS) (OTCQB: HYDTF) (FSE: SO6), a rapidly growing mobile clinical network and medical platform, today issued a letter to shareholder partners from Chief Executive Officer, Shane Madden.
Dear Shareholders,
As we prepare to enter 2025, I am honored to reflect on a year that has been nothing short of transformative for Hydreight Technologies (NURS.V). Thanks to your support, we have not only reinforced our leadership in mobile healthcare innovation but also laid the foundation for an even more impactful future.
2024: A Year of Milestones and Momentum
This past year, Hydreight Technologies reached new heights, driven by strategic investments in technology, infrastructure, and compliance. Some of our notable achievements include:
- VSDHOne’s Success: Launched as an innovative telemedicine and e-commerce platform, VSDHOne enables healthcare businesses to scale nationally in a matter of days. Since its introduction, we have sold and on boarded over 200 licenses across all 50 states, supporting our partners in seamlessly launching and expanding their businesses.
- Record Performance: Hydreight reported
$6.12 million in revenue for Q3 2024, marking a54% year-over-year increase. Our achievements led to Hydreight being ranked 56th on Deloitte’s Technology Fast 500™ in North America and 9th on Deloitte Canada’s Technology Fast 50™. - Financial Turnaround: We achieved positive adjusted EBITDA, reflecting our focus on profitability and sustainability.
VSDHOne development has been one of the greatest milestones of 2024 and projecting to be a major driver for our 2025 growth. Now fully operational in all 50 states, VSDHOne is redefining telehealth by offering businesses an unparalleled, end-to-end solution to launch their own healthcare brands—quickly, cost-effectively, and at scale, enabling businesses to navigate regulatory complexities, integrate nationwide compliance, and focus on patient outcomes. By empowering digital health providers to scale rapidly, we have become the backbone of a new wave of healthcare innovation.
The
The U.S. healthcare market, valued at
Key challenges include:
50% of care delivery is inefficient, according to Deloitte.25% of healthcare spending is lost to administrative costs, compared to8% in peer countries (JAMA).40% of Americans delay or forgo care due to cost or accessibility barriers (KFF's 2023 Health Care Priorities & Experiences Survey).
Hydreight is uniquely positioned to address these challenges through our national network of physicians, nurses, pharmacies, and compliance technology. Our platform reduces inefficiencies and empowers innovators to scale their businesses faster and more effectively.
VSDHOne: Revolutionizing Direct-to-Consumer Healthcare
VSDHOne has proven to be a game-changer, enabling businesses to:
- Scale Nationally: Navigate regulatory frameworks across all 50 states with ease.
- Diversify Offerings: Provide services ranging from chronic care management to wellness programs and telehealth consultations.
- Leverage Infrastructure: Access our cutting-edge legal, compliance, and technology stack to operate efficiently.
In 2024, VSDHOne supported providers generating revenues and adoption rates that reflect the massive demand for direct-to-consumer healthcare solutions.
“Hims & Hers Health, Inc. reported that it processed approximately 2.66 million net orders with an Average Order Value (“AOV”) of approximately
Upcoming VSDHOne Webinar:
To delve deeper into the vision and potential of VSDHOne, Hydreight’s management and medical team will be hosting a webinar in January. This session will explore the platform’s capabilities, its role in reshaping healthcare delivery, and our plans for future growth. If you’re interested in attending, please email ir@hydreight.com to receive an invite.
Looking Ahead: 2025 Catalysts and Beyond
Hydreight is poised for another year of transformation. Our strategy for 2025 focuses on three core pillars:
1. Expanding Our Platform and Offerings
We will broaden VSDHOne’s reach by introducing comprehensive at-home testing services, which include genetic testing, food allergy testing, and diagnostic tests for specific conditions. These tests serve as the starting point for care, seamlessly integrated into our platform's 360-degree healthcare solution. Following the initial test, our platforms provide a complete continuum of care: telehealth consultations, treatment plans, and prescription delivery—whether self-administered (via VSDHOne) or administered by healthcare professionals (via Hydreight). Our services include chronic care management, personalized wellness plans, ongoing medical oversight, and recurring medication management. This integrated approach ensures superior outcomes for patients and unmatched value for providers. By leveraging proprietary IP and partnerships with leading labs, we deliver an end-to-end healthcare solution that addresses gaps in the traditional system.
2. Driving Organic Growth and Strategic Acquisitions
Hydreight’s scalable platform allows us to achieve sustainable organic growth while exploring strategic acquisitions to expand our footprint and capabilities. This dual approach ensures we capture value across the healthcare innovation spectrum.
3. Investing in Technology and Partnerships
From AI-powered decision-making tools to secure, innovative data management solutions, we are committed to advancing our technology stack. Collaborations with leading tech companies and insurers will amplify our impact and accelerate our vision for accessible, efficient healthcare.
Financial Performance: A Strong Foundation for Growth
Our 2024 financial performance underscores the strength of our business model:
$6.12 million in Q3 revenue, a54% year-over-year increase.$16.58 million in topline revenue for the first 9 months of 2024, an increase of37% compared to the first 9 months of 2023.- Positive adjusted EBITDA, reflecting sustainable profitability.
In 2025, we aim to replicate this growth trajectory by capturing more market share and expanding into new verticals.
For further financial details, including net income, please refer to our previous news release: Hydreight Reports Record Topline Revenue of
Hydreight’s Competitive Advantage
What sets Hydreight apart is our ability to combine innovation with execution. By leveraging our national network, regulatory expertise, and scalable platform, we have created a healthcare ecosystem that addresses some of the most pressing challenges in the industry.
Our ambition is not just to grow as a company but to lead a healthcare revolution—one that makes care accessible, efficient, and patient-centric.
Gratitude and Commitment
To our shareholders, partners, and team members, thank you for your unwavering trust and support. Your belief in our mission fuels our ambition to create meaningful change.
As Jeff Bezos famously said, “Stubborn on vision, flexible on details.” This philosophy reflects our commitment to achieving our long-term goals while adapting to the dynamic healthcare landscape.
As we move into 2025, I am optimistic about our potential to drive growth and contribute to meaningful changes in healthcare. Together, we are shaping the future of the industry.
Warm regards,
Shane Madden
CEO, Hydreight Technologies
About Hydreight Technologies Inc.
Hydreight Technologies Inc. is building one of the largest mobile clinic network in the United States. Its proprietary, fully integrated platform hosts a network of over 2500 nurses, over 100 doctors and a pharmacy network across 50 states. The platform includes a built-in, easy-to-use suite of fully integrated tools for accounting, documentation, sales, inventory, booking, and managing patient data, which enables licensed healthcare professionals to provide services directly to patients at home, office or hotel. Hydreight is bridging the gap between provider compliance and patient convenience, empowering nurses, med spa technicians, and other licensed healthcare professionals. The Hydreight platform allows healthcare professionals to deliver services independently, on their own terms, or to add mobile services to existing location-based operations. Hydreight has a 503B pharmacy network servicing all 50 states and is closely affiliated with a U.S. certified e-script and telemedicine provider network.
On behalf of the Board of Directors
Shane Madden
Director and Chief Executive Officer
Hydreight Technologies Inc.
Contact
Email: ir@hydreight.com; Telephone: 1 (702) 970-8112
This press release does not constitute an offer of securities for sale in the United States. The securities being offered have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and such securities may not be offered or sold within the United States absent U.S. registration or an applicable exemption from U.S. registration requirements.
Neither TSXV nor its Regulation Services Provider (as that term is defined in policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release. This press release does not constitute an offer of securities for sale in the United States. The securities being offered have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and such securities may not be offered or sold within the United States absent U.S. registration or an applicable exemption from U.S. registration requirements.
Cautionary Note Regarding Forward-Looking Information
This press release contains statements which constitute “forward-looking information” within the meaning of applicable securities laws, including statements regarding the plans, path to profitability, intentions, beliefs and current expectations of the Company with respect to future business activities and operating performance. Forward-looking information is often identified by the words “may”, “would”, “could”, “should”, “will”, “intend”, “plan”, “anticipate”, “believe”, “aim”, “estimate”, “projecting”, “expect” or similar expressions and includes information regarding expectations for the Company's growth, VSDHone’s number of licenses and orders, growth and company’s growth projections in 2025.
Investors are cautioned that forward-looking information is not based on historical facts but instead reflects the Company’s management’s expectations, estimates or projections concerning future results or events based on the opinions, assumptions and estimates of management considered reasonable at the date the statements are made. Although the Company believes that the expectations reflected in such forward-looking information are reasonable, such information involves risks and uncertainties, and undue reliance should not be placed on such information, as unknown or unpredictable factors could have material adverse effects on future results, performance or achievements of the Company. Among the key factors that could cause actual results to differ materially from those projected in the forward-looking information are the following: the ability to obtain requisite regulatory and other approvals with respect to the business operated by the Company and/or the potential impact of the listing of the Company’s shares on the TSXV on relationships, including with regulatory bodies, employees, suppliers, customers and competitors; changes in general economic, business and political conditions, including changes in the financial markets; changes in applicable laws; compliance with extensive government regulation; and the diversion of management time as a result of being a publicly listed entity. This forward-looking information may be affected by risks and uncertainties in the business of the Company and market conditions.
Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking information prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected. Although the Company has attempted to identify important risks, uncertainties and factors which could cause actual results to differ materially, there may be others that cause results not to be as anticipated, estimated or intended. The Company does not intend, and does not assume any obligation, to update this forward-looking information except as otherwise required by applicable law.
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