Health In Tech, Inc. Reports 90.4% Revenue Growth to $8.49 Million in Latest Quarter

Health In Tech, Inc. (HIT) reported significant financial growth in its latest quarterly filing, with total revenues reaching $8.49 million for the three months ended September 30, 2025, a 90.4% increase from $4.46 million in the same period last year. For the nine months ended September 30, 2025, revenues totaled $25.82 million, up 77% from $14.59 million in the prior year. The company attributed this growth primarily to increased demand for its new product offerings and an expanded network of brokers and third-party administrators (TPAs). Net income for the third quarter was $452,176, compared to $376,086 in the same quarter of 2024, while net income for the nine-month period was $1.58 million, up from $814,629 in the previous year.

The company experienced notable changes in its revenue composition, with revenues from underwriting modeling decreasing to $1.39 million, down 9.1% from $1.53 million in the prior year. In contrast, revenues from fees surged to $7.10 million, a 142.3% increase from $2.93 million. This shift reflects HIT's strategic focus on enhancing its service offerings and streamlining sales processes. The company also reported a 44% increase in the number of enrolled employees, reaching 25,248, which is indicative of its expanding market presence.

Operationally, HIT has made significant strides, including the expansion of its Enhanced Do-It-Yourself Benefit System (eDIYBS) to accommodate larger employee groups, which is expected to enhance its market reach. The company also signed a non-binding strategic Letter of Intent with AlphaTON Capital to co-develop a blockchain-powered claims platform, positioning itself at the forefront of technological advancements in the insurance sector. As of September 30, 2025, HIT had 579 active brokers, 12 TPAs, and 910 business clients utilizing its services.

Despite the growth, HIT's cost of revenues increased significantly, rising to $3.35 million for the third quarter, up from $979,628 in the same period last year, primarily due to higher captive management fees associated with new products. General and administrative expenses also rose to $3.45 million, reflecting the costs of being a public company. However, the company maintained a stable operating expense ratio, with total operating expenses at 54.8% of revenue for the quarter. Looking ahead, HIT remains optimistic about its growth trajectory, with plans to resume development of its HI Card service in early 2026 and continue expanding its product offerings and market presence.