Hydreight Achieves Record Revenue and Profitability Milestone in Q4 2024 Audited Results

• Record 2024 Topline¹ revenue of $22.32 million, up 31% from 2023
• Record 2024 GAAP revenue of $16.04 million, up 39% from 2023
• 2024 Adjusted EBITDA¹ of +490K compared to ($1.38) million in 2023
• 2024 gross margin of $5.75 million, up from 8% from 2023
• Q4 2024 Topline¹ revenue of $5.74 million, up 15% from Q4 2023
• Q4 2024 GAAP revenue of $4.04 million, a 20% increase over Q4 2023
• Q4 2024 gross margin of $1.37 million, compared to 1.57 million in Q4 2023
• Met profitability milestone by achieving positive cash flow from operations in 2024 Audited Results
• Ranked #9 on Deloitte's 2024 Technology Fast 50™ list of Canada's fastest-growing companies
• Ranked #56 on Deloitte's 2024 Technology Fast 500™ list of fastest-growing companies in North America
• Recognized as one of the TSX Venture Exchange's 2024 Top 50 Companies
• Completed First Post-IPO Financing: In February 2025, Hydreight raised $5.4 million in gross proceeds through a LIFE offering, attracting strong support from strategic and institutional investors to fuel its next stage of growth.
• Upcoming earnings call to discuss Fiscal Year 2024 results: Tuesday May 6, 2025, at 10am PST / 1pm EST. See below for registration details.

VANCOUVER, British Columbia and LAS VEGAS, May 01, 2025 (GLOBE NEWSWIRE) --

 ("Hydreight” or the "Company”) (

)(

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),a fast-growing mobile clinical network and medical platform offering flexible, at-home healthcare services across all 50 U.S. states, is pleased to announce that it has filed its audited financial statements for the 2024 fiscal year ended December 31, 2024. All financial information is presented in Canadian dollars unless otherwise indicated.

"At the beginning of last year, we committed to three things: delivering meaningful growth, reaching profitability, and increasing our visibility in the capital markets. I'm proud to say we've delivered on all three. With record revenue, positive Adjusted EBITDA, and recognition from Deloitte, the TSX Venture 50, we've laid a strong foundation. Now, our focus for 2025 is scaling VSDHOne. We've onboarded several high-volume D2C partners, 40+ services and medications, and expect a significant ramp-up in orders beginning in the second half of this year. With franchise white-label and pharmacy growth continuing as our core drivers, this next wave of expansion is what sets us up for our next inflection point.”

- Shane Madden, CEO, Hydreight Technologies Inc.

The table below sets out a summary of certain financial results of the Company over the past eight quarters and is derived from the audited annual consolidated financial statements and unaudited quarterly consolidated financial statements of the Company.

Please see SEDAR+ for the Company's condensed consolidated audited financial statements and MD&A for audited annual consolidated financial statements for the year ended December 31, 2024.

2024 Key Highlights and Subsequent Events

• Fourth quarter revenues were $4.04M compared to $3.37M in the comparative quarter. Fourth quarter Adjusted Revenue¹ and Adjusted Margin¹ was $5.74M and $1.68M compared to $4.99M and $1.78M in the comparative quarter.
• Fiscal 2024 revenues were $16.04M compared to $11.51M in the comparative year.
• Fiscal 2024 Adjusted Revenue¹ and Adjusted Margin¹ was $22.32M and $5.75M compared to $17.05M and $5.34M in the comparative quarter.
• Fourth quarter Adjusted EBITDA¹ was +$270K compared to ($557K) in the comparative quarter.
• Fiscal 2024 Adjusted EBITDA¹ was +$490K compared to ($1.38M) in the comparative year.
• Fiscal 2024 cash flow from operating activities was $857K compared to ($402K) in cash used in operating activities in the comparative year.
• Cash balance at December 31, 2024, is $1.19M compared to $1.78M at December 31, 2023.
• On April 17, 2025. Hydreight Technologies to Present at the Planet MicroCap Showcase: VEGAS in partnership with MicroCapClub on Wednesday, April 23, 2025 & 1×1 Meetings on Thursday, April 24, 2025
• On April 15, 2025. Hydreight Technologies Expands GLP-1 Telehealth Suite with Launch of Liraglutide on VSDHOne Platform
• On April 8, 2025. Hydreight Technologies Partners with Renowned Endocrinologist Dr. Franklin Joseph to Bring Globally Successful Weight Loss Brand to the U.S. via VSDHOne Platform
• On April 2, 2025. Hydreight Technologies Named One of the Americas' Fastest Growing Companies by Financial Times
• On February 27, 2025. Hydreight Technologies Expands Telehealth Services with New Oral Weight Loss Therapies on VSDHOne Platform
• On February 26, 2025. Hydreight Technologies Inc. Announces Closing of $5.4 Million LIFE Offering
• On February 19, 2025. Hydreight Technologies Recognized as a Top 50 TSX Venture Exchange Company
• On February 18, 2025. Hydreight Technologies Provides Update to Financing
• On February 10, 2025. Hydreight Technologies Inc. Announces LIFE Offering of up to $4 Million
• On February 5, 2025. Hydreight Technologies Expands Telehealth Offerings with Launch of NAD+ Therapy on VSDHOne Platform
• On January 29, 2025. Hydreight Technologies Partners with The DRIPBaR to Launch 'DRIPBaR Direct' Nationwide, Expanding Access to Direct-to-Consumer Healthcare Services
• On January 21, 2025. Hydreight and Victory Square Launch $10 Million Health Accelerator to Fuel Nationwide Expansion of Emerging Healthcare Brands on VSDHOne platform
• On January 9, 2025. Hydreight Technologies Provides Shareholder Update on 2024 Milestones and 2025 Vision
• On December 16, 2024. Hydreight Updates on VSDHOne: Revolutionizing Direct-to-Consumer Healthcare Across All 50 States
• On November 26, 2024. Hydreight Reports Record Topline¹ Revenue of $6.12M in Q3-2024 (YOY Increase of 54%) and achieved positive Adjusted EBITDA¹
• On November 21, 2024. Hydreight Technologies Inc Ranked Number 56 Fastest-Growing Company in North America on the 2024 Deloitte Technology Fast 500™
• On November 6, 2024. Hydreight Technologies Inc. Ranks 9th in Deloitte's Technology Fast 50 Program Winners for 2024
• On October 24, 2024. VSDHOne Expands to Offer Asynchronous Telehealth Treatments Including Skincare, Hair Loss, and Sexual Health
• On October 16, 2024. Hydreight Provides Corporate Update Reflecting Significant Growth
• On September 30, 2024. Hydreight Announces Normal Course Issuer Bid
• On August 28, 2024. Hydreight Reports Record Topline¹ Revenue of $5.59M in Q2-2024 (YOY Increase of 27%) and positive Adjusted EBIDTA¹
• On July 11, 2024. Hydreight Expands Its "At-Home Blood Testing” Solution with More Tests to All 50 States
• On June 26, 2024, Hydreight provided a corporate update reflecting significant revenue growth and strong organic operational growth.
• On June 12, 2024, Hydreight announced the addition of the third national wellness med spa franchise for white label solution.
• On June 5, 2024, Hydreight announced Launching VSDHOne, a telemedicine solution that helps companies launch a direct to consumer ("D2C”) healthcare brand in all 50 States.
• On May 30, 2024, Hydreight reported record Adjusted Revenue¹ of $4.87M in Q1-2024 (YOY Increase of 33%)
• On May 23, 2024, Hydreight Technologies, through its associated medical network, announced it now offered Tirzepatide which also features GLP-1 Medications (Low-Cost Semaglutide), NAD+ and more.
• On April 29, 2024, Hydreight announced that it achieved record revenue and filed its audited financial statements for the fiscal year ended December 31, 2023.
• On March 25, 2024. Hydreight Partners with American Frontline Nurses with a Network of Over 26,000 Nurses
• On February 26, 2024. Hydreight Partners with Ola Digital Health, an Independent, National Pharmacy Network to Provide Health and Wellness Services in Store
• On February 15, 2024. Hydreight Founder and CEO, Shane Madden, Joins Founding Member Board of the American IV Association
• On January 16, 2024. Hydreight to Participate in the Maxim Group Healthcare IT Conference January 24 - 25, 2024
• On January 8, 2024. Hydreight Provides Year-End Review on Significant Growth and Progress

The Company believes the following Non-GAAP¹ financial measures provide meaningful insight to aid in the understanding of the Company's performance and may assist in the evaluation of the Company's business relative to that of its peers: