Health In Tech, Inc. (HIT) reported significant financial growth in its latest quarterly filing, with total revenues reaching $9.3 million for the three months ended June 30, 2025, an increase of 86.2% compared to $5.0 million in the same period last year. For the first half of 2025, revenues totaled $17.3 million, up 71.1% from $10.1 million in the prior year. The company attributed this growth to strong demand for its new product offerings and an increase in the number of enrolled employees, which rose by 30% to 24,839.
The company's profitability also improved, with net income for the second quarter of 2025 at $630,631, compared to $338,007 in the same quarter of 2024. For the first half of 2025, net income was $1.1 million, up from $438,543 in the previous year. The increase in profitability was supported by a gross profit margin of 67.7% for the second quarter, although the cost of revenues increased to 32.3% of total revenues, up from 19.5% in the same quarter last year.
HIT has made strategic advancements, including partnerships with several third-party administrators (TPAs) and insurance brokers, which are expected to enhance its service offerings and market reach. Notable partnerships include collaborations with Verdegard Administrators and Unified Health Plans, aimed at providing more comprehensive healthcare solutions. Additionally, the company appointed former U.S. Ambassador Edward McMullen to its advisory board, which is anticipated to bolster its strategic initiatives in the healthcare sector.
Operationally, HIT has expanded its client base to 520 brokers, 10 TPAs, and 248 third-party agencies across 41 states. The company has also invested significantly in software development, with total software assets increasing to $5.5 million as of June 30, 2025, up from $4.0 million at the end of 2024. This investment is part of HIT's ongoing commitment to enhance its technology platform and improve operational efficiency.
Looking ahead, HIT remains optimistic about its growth trajectory, driven by the continued expansion of its network and the introduction of innovative insurance products. The company plans to leverage its partnerships and technological advancements to capture a larger share of the healthcare insurance market, while also focusing on maintaining profitability and operational efficiency.
About Health In Tech, Inc.
About 10-Q Filings
A 10-Q form is an important financial report that public companies in the United States must submit every three months. It gives a clear picture of a company's financial health and recent performance.
Key points about the 10-Q:
- Frequency: Companies file it three times a year, covering the first three quarters. The fourth quarter is covered in a more comprehensive annual report.
-
Content: It includes:
- Financial statements showing the company's current financial position
- Updates from management on the performance and projections of the business
- Information about potential risks the company faces
- Details on how the company is run internally
- Deadline: Must be filed within 40 or 45 days after the quarter ends, depending on the size of the company.
Our Methodology
AssetRoom is committed to providing timely summaries of news from public companies. We use AI to generate these summaries quickly, but they are not reviewed by human experts.
Our method:
- Data Collection: We continuously monitor for new filings (currently limited to US-listed stocks).
- AI-Powered Analysis: Our advanced AI system processes each filing, identifying key information and extracting relevant data.
- Summary Generation: The AI creates a concise, easy-to-understand summary of the filing, highlighting the most important points.
- Publication: The summary is immediately published on our platform, allowing users instant access to the latest information.
- Email users: We distribute round-up emails according to our users preferences, keeping them in the loop with the companies they follow.
Feedback & Corrections
Spot an error or have a suggestion? Contact us.