• Annual Recurring Revenue (ARR)⁽¹⁾ up 54% YoY to $73.7 million
• Total Revenue up 42% YoY to $21.7 million
• Adjusted EBITDA⁽¹⁾ up 39% YoY to $5.6 million

TORONTO, May 08, 2025 (GLOBE NEWSWIRE) -- Vitalhub Corp. (the “Company” or “VitalHub”) (TSX: VHI) (OTCQX: VHIBF) announced today it has filed its Interim Condensed Consolidated Financial Statements and Management's Discussion and Analysis report for the three months ended March 31, 2025 with the Canadian securities authorities. These documents may be viewed under the Company’s profile at www.sedarplus.com.

“We are pleased to report a strong start to 2025, achieving sequential net organic ARR⁽¹⁾ growth of $1.8 million and 26% adjusted EBITDA⁽¹⁾ in the first quarter,” said Dan Matlow, CEO of VitalHub. “We continue to strengthen our infrastructure, with improvements to process and integration capabilities. We are excited about our potential cash acquisition of UK-based Induction. Pending all approvals, we expect this acquisition to close in the third quarter of 2025 and foresee strong synergistic value.”

“We ended the first quarter with a cash balance of over $90 million. Several acquisition opportunities are moving through the pipeline, diversified in geography and scale. We continue to be selective and maintain a disciplined approach on all prospective deals. For smaller-scale opportunities, we are seeing improved pricing and considerable strategic value. We are optimistic about the pipeline for the balance of the year.”

VitalHub’s quarterly investor conference call will take place on Friday, May 9, 2025, at 9:00AM EST.

To register for the call, please visit: https://us06web.zoom.us/webinar/register/WN_dlBWXhs0S5KWdlrSakva9A#/registration

First Quarter 2025 Highlights

• ARR⁽¹⁾ at March 31, 2025 was $73,687,666 as compared to $71,054,210 at December 31, 2024, an increase of $2,633,457 or 4%. Over the quarter, ARR⁽¹⁾ movement from December 31, 2024 was attributable to:
  • Organic growth of $1,777,442 or 3%;
  • Gain of $856,014 or 1% due to fluctuations in foreign exchange rates.
• ARR⁽¹⁾ at March 31, 2025 was $73,687,666 as compared to $47,834,002 at March 31, 2024, an increase of $25,853,664 or 54%. Over the previous year, ARR⁽¹⁾ movement from March 31, 2024 was attributable to:
  • Organic growth of $6,707,848 or 14%;
  • Acquisition growth of $16,849,000 or 35%;
  • Gain of $2,296,816 or 5% due to fluctuations in foreign exchange rates.
• Revenue of $21,674,966 as compared to $15,256,791 in the equivalent prior year period, an increase of $6,418,175 or 42%.
• Gross profit as a percentage of revenue was 80% as compared to 81% in the equivalent prior year period.
• Net income before income taxes of $1,487,413 as compared to net income before income taxes of $1,978,895 in the equivalent prior year period, a decrease of $491,482 or 25%.
• EBITDA⁽¹⁾ of $3,150,374 as compared to $3,099,016 in the equivalent prior year period, an increase of $51,358 or 2%.
• Adjusted EBITDA⁽¹⁾ of $5,614,686 or 26% of revenue, as compared to $4,044,932 or 27% of revenue in the equivalent prior year period, an increase of $1,569,754 or 39%.
• Cash on hand at March 31, 2025 was $91,213,771 as compared to $56,574,904 at December 31, 2024.
• On April 10, 2025, the Company agreed the terms and conditions of a potential cash acquisition to acquire all of the issued and to be issued share capital of Induction Healthcare Group PLC. Under the terms of the acquisition, each Induction shareholder will be entitled to receive £0.10 in cash for each Induction share held, valuing Induction at approximately £9.7 million ($18.0 million).

^{(1) Non-IFRS measure. Disclaimers and reconciliations can be found in SEDAR filings.}

About VitalHub

VitalHub is a leading software company dedicated to empowering health and human services providers globally. VitalHub's comprehensive product suite includes electronic health records, operational intelligence, and workforce automation solutions that serve over 1,000 clients across the UK, Canada, and other geographies. The Company has a robust two-pronged growth strategy, targeting organic opportunities within its product suite and pursuing an aggressive M&A plan. VitalHub is headquartered in Toronto with over 500 employees globally, across key regions and the VitalHub Innovations Lab in Sri Lanka. For more information about VitalHub (TSX: VHI) (OTCQX: VHIBF), please visit www.vitalhub.com and connect with us on LinkedIn.

Contact Information

Christian Sgro, CPA, CA, CFA
Head of IR and M&A Specialist
(365) 363-6433
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Dan Matlow
Chief Executive Officer, Director
(416) 727-9061
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Cautionary Statement

Certain statements contained in this news release may constitute "forward-looking information" or "financial outlook" within the meaning of applicable securities laws that involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking information or financial outlook. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "is expected", "expects", "scheduled", "intends", "contemplates", "anticipates", "believes", "proposes" or variations (including negative variations) of such words and phrases, or state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved. Such statements are based on the current expectations of the management of each entity and are based on assumptions and subject to risks and uncertainties. Although the management of each entity believes that the assumptions underlying these statements are reasonable, they may prove to be incorrect. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. No forward-looking statement can be guaranteed. Except as required by applicable securities laws, forward-looking statements speak only as of the date on which they are made and the Company undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise.