Contracted Revenue of $32.3 Million as of June 30, 2026
Pipeline Revenue of $66.3 Million as of July 31, 2026
Distribution Partners Grew 19.9% Year Over Year
STUART, Fla., Aug. 13, 2026 /PRNewswire/ -- Health In Tech, Inc. (Nasdaq: HIT) ("Health In Tech" or the "Company"), an AI-enabled InsurTech platform company, today announced its unaudited financial results for the three and six months ended June 30, 2026.
Second Quarter and First-Half 2026 Highlights
-- Distribution Partners, including brokers, third-party administrators
("TPAs") and agencies, reached 933 as of June 30, 2026, an increase of
19.9% year over year.
-- Q2 2026 Revenue was $8.1 million, compared with $9.3 million in Q2 2025.
First-half 2026 revenue was $16.8 million, compared with $17.3 million in
the prior year period.
-- Contracted Revenue1 totaled $32.3 million for first-half 2026, of which
$17.3 million was recognized as GAAP revenue in first-half 2026. The
remaining $14.0 million and $1.0 million are expected to be recognized as
GAAP revenue in second-half 2026 and in 2027, respectively.
-- Pipeline Revenue2 was $66.3 million as of July 31, 2026, of which $1.9
million was contracted subsequent to quarter end. The remaining $64.4
million represents policies in quoting or binding status, with an
expected conversion rate of 15% to 40%.
-- Net loss for Q2 2026 was $2.5 million, or $(0.04) per diluted share,
compared to net income of $0.6 million, or $0.01 per diluted share, in Q2
2025, and $4.1 million for the first half of 2026, or $(0.07) per diluted
share, compared to net income of $1.1 million, or $0.02 per diluted share,
in first-half 2025.
-- Adjusted EBITDA3 was $(1.3) million for Q2 2026 and $(2.6) million for
first-half 2026, reflecting continued investment in distribution,
technology, and product development.
-- Platform Placed Plan Value ("PPPV")4 was $84.0 million as of June 30,
2026.
2026 Outlook and Beyond
As of July 31, 2026, the Company had approximately $66.3 million in Pipeline Revenue, of which $1.9 million was contracted, while the remaining $64.4 million is in the quoting or binding stage. Based on the Company's estimated conversion rate of 15% to 40%, the Pipeline Revenue in the quoting or binding stage is expected to generate approximately $9.7 million to $25.8 million of additional Contracted Revenue. Under U.S. GAAP revenue recognition, this is expected to result in approximately $3.1 million to $8.3 million of GAAP revenue recognized in 2026, with an additional $6.6 million to $17.5 million of GAAP revenue expected to be recognized in 2027.
With five more months remaining in 2026, the Company expects to continue expanding its Pipeline Revenue through new product launches and new system enhancement. Supported by its growing base of Contracted Revenue, increasing forward revenue visibility, and continued pipeline development, the Company is reaffirming its full-year 2026 revenue guidance of $45 million to $50 million.
CEO Commentary
Tim Johnson, Chief Executive Officer of Health In Tech, commented, "We continued to execute against our long-term growth strategy during the quarter by investing in sales, marketing, and key talent, supported in part by the capital raised through our recent PIPE financing. These investments are designed to expand our distribution network, accelerate product innovation, and strengthen our execution capabilities. Our contracted book of business continued to grow, providing greater visibility into future revenue. We believe Contracted Revenue and Pipeline Revenue are meaningful operating metrics that complement our GAAP financial results by illustrating the strength of our sales pipeline, the pace of customer conversion, and our expected revenue trajectory."
Mr. Johnson continued, "We also made meaningful progress on several strategic initiatives that we believe position the Company for its next phase of growth. During the quarter, we contractually secured our first employer group for the Three-Year Rate Stabilization Program, a differentiated solution designed to provide employers with greater predictability in stop-loss pricing over a multi-year period. This represents an important milestone as we advance toward the program's anticipated launch in the capital markets. In parallel, we are engaged with several high-profile governmental organizations that are evaluating participation in the program, and we expect to provide additional updates in the coming months.
As we execute on our strategic roadmap, we remain on track to launch HitRix, our next-generation marketplace platform, in the second half of 2026. While our current eDIYBS platform has transformed AI-enabled underwriting through bindable stop-loss quoting and customized plan design, HitRix expands the application of AI across the entire self-funded stop-loss insurance ecosystem. The platform leverages advanced AI-powered document intelligence to automate data extraction across multiple document types, enable intelligent plan comparisons, and facilitate an integrated competitive bidding process within a unified digital marketplace. By connecting a broad network of brokers, carriers, TPAs, and employer groups, HitRix is designed to increase market transparency, expand access to competitive stop-loss solutions, streamline the placement process, and deliver better outcomes for all participants across the self-funded insurance value chain."
End Notes
1. Contracted Revenue represents the total revenue expected to be generated
over the contractual term of self-funded health plan policies placed
through the Company's platform. Standard self-funded plan policies
generally have a contractual term of 12 months, while the Company's
Three-Year Rate Stabilization Program is designed with a 36-month
contractual term. Revenue is recognized under U.S. GAAP on a
straight-line basis over the policy term, beginning on the policy's
effective date. Accordingly, Contracted Revenue represents revenue that
has been contractually secured but has not yet been fully recognized
under U.S. GAAP, providing an indication of future revenue expected from
existing contracts.
2. Pipeline Revenue represents revenue from self-funded plan policies that
are being quoted, are in binding status, or have been contracted
subsequent to the end of the reporting period. This metric reflects the
entire contractual term of the underlying policies, some of which may not
ultimately convert to revenue.
3. Adjusted EBITDA is a non-GAAP financial measure. Additional information
and reconciliation of Adjusted EBITDA to its most comparable GAAP
financial measure is provided in the "Reconciliation of Net (Loss) Income
Attributable to Common Stockholders to Adjusted EBITDA" section of this
release.
4. Platform Placed Plan Value ("PPPV") represents the aggregate contractual
value of self-funded health plans with stop-loss insurance (self-funded
stop-loss plans) placed through the Company's platform during the fiscal
year through the applicable fiscal quarter end, measured over each plan's
full contractual term of typically 12 or 36 months from the plan's
effective date. PPPV reflects the total economic value flowing through
the platform, including premium, claim funding, and administrative fees,
and is a measure of platform transaction volume rather than an indication
of the Company's own revenue or take rate.
Conference Call Details
Health In Tech will host a conference call to discuss its financial results for the second quarter of 2026 on August 13, 2026, at 5:00 p.m. $(ET)$. To participate in our live conference call and webcast, please dial 1-888-346-8982 or 1-412-902-4272 (for international participants).
A live audio webcast will be available via the Investor Relations page of Health In Tech's website at https://healthintech.com/. A replay of the webcast will be available for on-demand listening shortly after the completion of the call, at the same web link, and will remain available for approximately 90 days.
Non-GAAP Financial Information
This release presents Adjusted EBITDA, a non-GAAP financial metric, which is provided as a complement to the results provided in accordance with accounting principles generally accepted in the United States of America ("GAAP"). Management uses Adjusted EBITDA to provide investors with additional insight into operational performance and to facilitate comparison with other companies in the industry. Adjusted EBITDA should not be considered an alternative to net income, operating income, or other GAAP measures. A reconciliation of historical non-GAAP financial information to the most directly comparable GAAP financial measure is provided in the accompanying tables found at the end of this release.
Use of Forward--Looking Statements
Certain statements in this press release are forward-looking statements for purposes of the safe harbor provisions under the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements may include estimates or expectations about Health In Tech's possible or assumed operational results, financial condition, business strategies and plans, market opportunities, competitive position, industry environment, and potential growth opportunities. In some cases, forward-looking statements can be identified by terms such as "may," "will," "should," "design," "target," "aim," "hope," "expect," "could," "intend," "plan," "anticipate," "estimate," "believe," "continue," "predict," "project," "potential," "goal," or other words that convey the uncertainty of future events or outcomes. These statements relate to future events or to Health In Tech's future financial performance, and involve known and unknown risks, uncertainties and other factors that may cause Health In Tech's actual results, levels of activity, performance, or achievements to be different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. You should not place undue reliance on forward-looking statements because they involve known and unknown risks, uncertainties and other factors which are, in some cases, beyond Health In Tech's control and which could, and likely will, affect actual results, levels of activity, performance or achievements. Any forward-looking statement reflects Health In Tech's current views with respect to future events and is subject to these and other risks, uncertainties and assumptions relating to Health In Tech's operations, results of operations, growth strategy and liquidity.
About Health In Tech
Health In Tech, Inc. (Nasdaq: HIT) is an AI-enabled InsurTech platform company, which offers a marketplace that improves processes in the health insurance industry through vertical integration, process simplification, and automation. By removing friction and complexities, we streamline the underwriting, sales and service process for insurance companies, licensed brokers, Managing General Underwriter ("MGUs") and third-party administrators ("TPAs"). Health In Tech's platform serves as a marketplace for brokers, TPAs, MGUs and carriers to access self-funded health insurance for employers, providing functions including customized self-funded health plans, bindable stop-loss quotes, AI-enabled underwriting, claims administration and reporting integration.
Health In Tech, Inc.
Consolidated Statements of Operations
(Unaudited)
Three Months Ended June 30, Six Months Ended June 30,
----------------------------- ---------------------------
2026 2025 2026 2025
--------------- ------------ -------------- -----------
Revenues
Revenues from
underwriting
modeling $(ICE)$ $ 1,272,647 $ 2,090,576 $ 2,741,461 $ 4,442,560
Revenues from
fees $(SMR)$ 6,783,973 7,223,273 14,086,805 12,886,273
Total revenues 8,056,620 9,313,849 16,828,266 17,328,833
Cost of revenues 4,134,127 3,003,979 8,396,374 5,663,564
Gross profit 3,922,493 6,309,870 8,431,892 11,665,269
Operating expenses
Sales and
marketing
expenses 2,215,889 1,226,738 4,507,490 2,316,993
General and
administrative
expenses 4,269,094 3,775,453 7,724,652 7,022,218
Research and
development
expenses 875,811 582,609 1,796,206 1,120,330
Total operating
expenses 7,360,794 5,584,800 14,028,348 10,459,541
Other income
(expense):
Interest income 69,568 108,198 137,039 193,564
Other income 100,000 -- 122,334 118,399
Other expense (52,341) -- (52,341) --
Total other
income, net 117,227 108,198 207,032 311,963
(Loss) income
before income tax
expense (3,321,074) 833,268 (5,389,424) 1,517,691
Income tax benefit
(expense) 809,888 (202,637) 1,289,957 (388,468)
Net (loss) income (2,511,186) 630,631 (4,099,467) 1,129,223
Net loss
attributable to
noncontrolling
interests (162) -- (162) --
Net (loss) income
attributable to
common
stockholders $ (2,511,024) $ 630,631 $ (4,099,305) $ 1,129,223
=============== ============ ============== ===========
Net (loss) income
per share
Basic $ (0.04) $ 0.01 $ (0.07) $ 0.02
Diluted $ (0.04) $ 0.01 $ (0.07) $ 0.02
Weighted average
common shares
outstanding:
Basic 62,829,725 55,382,395 60,106,502 55,003,233
Diluted 62,829,725 55,632,357 60,106,502 57,004,070
Reconciliation of Net (Loss) Income Attributable to Common Stockholders to
Adjusted EBITDA
(Unaudited)
Three Months Ended June 30, Six Months Ended June 30,
----------------------------- ---------------------------
2026 2025 2026 2025
--------------- ------------ -------------- -----------
Net (loss) income
attributable to
common
stockholders $ (2,511,024) $ 630,631 $ (4,099,305) $ 1,129,223
Interest income (69,568) (108,198) (137,039) (193,564)
Amortization
expense 320,320 135,983 723,787 271,966
Income tax
(benefit)
expense (809,888) 202,637 (1,289,957) 388,468
Stock-based
compensation
expense,
including
employer payroll
taxes related to
stock-based
awards 959,969 707,963 1,403,808 1,201,134
Provision for
credit losses on
other
receivables 739,773 -- 739,773 --
Other
non-recurring
items 37,341 -- 37,341 --
Total net
adjustments 1,177,947 938,385 1,477,713 1,668,004
Adjusted EBITDA $ (1,333,077) $ 1,569,016 $ (2,621,592) $ 2,797,227
=============== ============ ============== ===========
Consolidated Balance Sheets
(Unaudited)
June 30, December 31,
------------ ------------
2026 2025
------------ ------------
Assets
Current assets
Cash and cash equivalents $ 6,514,813 $ 7,669,754
Accounts receivable, net 8,546,307 756,288
Loans receivable, net 847,993 815,995
Other receivables, net 3,392,082 3,467,814
Deferred offering costs 102,586 170,977
Prepaid expenses and other current assets 2,380,284 3,280,148
Total current assets 21,784,065 16,160,976
Non-current assets
Software 7,197,718 6,530,894
Operating lease - right-of-use assets 104,277 139,940
Long-term prepaid expenses 8,184 258,151
Deferred tax assets, net 540,436 --
Total non-current assets 7,850,615 6,928,985
Total assets $ 29,634,680 $ 23,089,961
============ ============
Liabilities and stockholders' equity
Current liabilities
Accounts payable and accrued expenses $ 9,907,370 $ 4,188,811
Operating lease liabilities - current 81,225 76,195
Other current liabilities -- 891,598
Total current liabilities 9,988,595 5,156,604
Non-current liabilities
Deferred tax liabilities -- 757,675
Operating lease liabilities - non-current 21,713 63,617
Total non-current liabilities 21,713 821,292
Total liabilities 10,010,308 5,977,896
Stockholders' equity
Common stock, $0.001 par value; Class A Common
stock 150,000,000 shares authorized 53,858,083
and 46,006,000 shares issued and outstanding
as of June 30, 2026 and December 31, 2025,
respectively $ 53,858 $ 46,006
Common stock, $0.001 par value; Class B Common
stock 50,000,000 shares authorized, 11,700,000
shares issued and outstanding as of June 30,
2026 and December 31, 2025, respectively 11,700 11,700
Additional paid-in capital 18,365,473 11,834,121
Retained earnings 1,120,933 5,220,238
Noncontrolling interests 72,408 --
Total stockholders' equity 19,624,372 17,112,065
Total liabilities and stockholders' equity $ 29,634,680 $ 23,089,961
============ ============
Consolidated Statements of Cash Flows
(Unaudited)
Three Months Ended June
30, Six Months Ended June 30,
-------------------------- ---------------------------
2026 2025 2026 2025
------------- ----------- -------------- -----------
Cash flows (used in)
provided by operating
activities:
Net (loss) income $ (2,511,186) $ 630,631 $ (4,099,467) $ 1,129,223
Adjustments to
reconcile net (loss)
income to net cash
(used in) provided
by operating
activities:
Bad debt
(recovery)
expense (2,954) 5,990 (2,954) 5,990
Amortization
expense 320,320 135,983 723,787 271,966
Provision for
refund liability -- 175,698 108,402 955,743
Provision for
credit losses on
other
receivables 739,773 -- 739,773 --
Deferred tax
benefit (813,639) (32,074) (1,298,111) (66,547)
Interest income (15,999) (15,999) (31,998) (31,998)
Stock-based
compensation
expense 959,320 707,963 1,325,882 1,201,134
Changes in
operating assets
and liabilities:
Accounts
receivable (4,805,705) 823,480 (7,787,065) 359,982
Other
receivables (59,704) 134,954 (71,444) (3,354,582)
Prepaid
expenses and
other assets 350,442 455,844 798,039 (561,907)
Operating lease
right-of-use
assets and
liabilities,
net (606) 18 (1,211) 37
Accounts
payable and
accrued
expenses 2,927,618 (1,150,600) 4,364,800 2,269,897
Income taxes
payable -- (390,612) -- (170,309)
Other current
liabilities -- -- (1,000,000) --
Net cash (used in)
provided by
operating
activities (2,912,320) 1,481,276 (6,231,567) 2,008,629
Cash flows used in
investing
activities:
Development of
software (596,992) (909,897) (959,123) (1,613,372)
Net cash used in
investing
activities (596,992) (909,897) (959,123) (1,613,372)
Cash flows (used in)
provided by financing
activities:
Proceeds from
issuance of common
stock in connection
with private
investment in public
equity financing,
net of placement
agent fees and
escrow agent fees -- 6,381,000 --
Payments of deferred
offering costs (199,440) (8,250) (243,608) (106,339)
Contributions from
noncontrolling
interests 71,428 -- 71,428 --
Taxes paid related
to net share
settlement of
equity awards (173,071) -- (173,071) --
Net cash (used in)
provided by
financing
activities (301,083) (8,250) 6,035,749 (106,339)
(Decrease) increase
in cash and cash
equivalents (3,810,395) 563,129 (1,154,941) 288,918
Cash and cash
equivalents,
beginning of the
period 10,325,208 7,575,037 7,669,754 7,849,248
Cash and cash
equivalents, end of
the period $ 6,514,813 $ 8,138,166 $ 6,514,813 $ 8,138,166
============= =========== ============== ===========
Supplemental
disclosures of cash
flow information:
Cash paid for
interest $ -- $ -- $ -- $ --
Cash paid for income
taxes $ 15,000 $ 625,323 $ 10,035 $ 625,323
Summary of noncash
investing and
financing
activities:
Accrued deferred
offering costs
included in
accounts payable
and accrued
expenses $ 115,911 $ -- $ 215,911 $ --
Accrued development
of software
included in
accounts payable
and accrued
expenses 430,386 265,243 430,386 265,243
Reclassification of
deferred offering
costs to additional
paid-in capital
upon private
investment in
public equity
financing 75,030 -- 527,910 --
Stock-based
compensation
capitalized for
software
development 10,617 -- 19,454 --
Investor Contact:
Health In Tech Investor Relations
ir@healthintech.com
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SOURCE Health In Tech, Inc.