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HEALWELL AI
(TSX:AIDX)
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Rating:49Neutral
Price Target:
C$0.79
▼(-10.68% Downside)
Action:Reiterated
Date:05/09/26
The score is held down primarily by weak financial quality—persistent losses and ongoing negative operating/free cash flow—despite strong revenue growth and improving gross margin. Technicals are supportive in the near term (price above 20/50/100-day averages with positive MACD), but the stock remains below the 200-day average, and valuation is constrained by negative earnings and no indicated dividend yield.
Positive Factors
Revenue Growth
Sustained TTM revenue growth demonstrates durable end-market demand for the company’s AI healthcare offerings. Persistent top-line expansion helps absorb fixed costs, supports scale in R&D/sales, and creates a realistic pathway to operating leverage if growth and margin trends continue over months.
Negative Factors
Persistent Losses
Ongoing negative profitability is a durable constraint: repeated operating losses erode shareholder equity, limit retained-capital reinvestment, and mean the company must convert growth into sustained operating leverage to avoid structural funding pressures within months.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue Growth
Sustained TTM revenue growth demonstrates durable end-market demand for the company’s AI healthcare offerings. Persistent top-line expansion helps absorb fixed costs, supports scale in R&D/sales, and creates a realistic pathway to operating leverage if growth and margin trends continue over months.
Read all positive factors
HEALWELL AI (AIDX) vs. iShares MSCI Canada ETF (EWC)
Market Cap
C$263.74M
Dividend YieldN/A
Average Volume (3M)459.97K
Price to Earnings (P/E)―
Beta (1Y)0.95
Revenue Growth181.14%
EPS Growth25.81%
CountryCA
Employees350
SectorHealthcare
Sector Strength45
IndustryMedical - Care Facilities
Share Statistics
EPS (TTM)-0.17
Shares Outstanding303,043,800
10 Day Avg. Volume558,932
30 Day Avg. Volume459,971
Financial Highlights & Ratios
PEG Ratio0.00
Price to Book (P/B)1.70
Price to Sales (P/S)2.03
P/FCF Ratio-10.44
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
C$2.46Price Target Upside179.36% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering6
EPS Forecast (FY)-0.08
Revenue Forecast (FY)C$136.78M
HEALWELL AI Business Overview & Revenue Model
Company Description
Healwell AI Inc., a Toronto-based healthcare technology firm established in 2012, specializes in leveraging artificial intelligence and data science to advance preventative medical care. The company develops an AI-powered platform designed to assi...
How the Company Makes Money
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HEALWELL AI Earnings Call Summary
Earnings Call Date:Nov 06, 2025
(Q3-2025)
| % Change Since: |
Next Earnings Date:Aug 17, 2026
Earnings Call Sentiment Positive
The earnings call presented a strong quarter for HEALWELL, with significant revenue growth driven by successful integrations and a positive adjusted EBITDA. However, challenges such as a decline in gross margin and increased net loss were noted, alongside seasonal revenue fluctuations. The overall sentiment leans towards positive due to the outweighing highlights.Positive Updates
Record Revenue Growth
HEALWELL achieved quarterly revenues of $30.4 million during Q3 2025, compared to $6.7 million in Q3 2024, marking an impressive increase of 354%.
Negative Updates
Gross Margin Decline
HEALWELL's gross margin percentage decreased to 54% during Q3 2025, compared to 57% in Q3 2024.
Read all updates
Q3-2025 Updates
Positive
Negative
Record Revenue Growth
HEALWELL achieved quarterly revenues of $30.4 million during Q3 2025, compared to $6.7 million in Q3 2024, marking an impressive increase of 354%.
Read all positive updates
Company Guidance
During the HEALWELL AI Third Quarter 2025 Financial Results Conference Call, the company outlined several key metrics and strategic initiatives. HEALWELL achieved a revenue of $30.4 million in Q3 2025, a significant increase from $6.7 million in Q3 2024, marking a 354% growth predominantly driven by the acquisition and integration of Orion Health. The gross profit rose to $16.5 million from $3.8 million, translating to a gross margin of 54%. The company also reported a positive adjusted EBITDA of $0.7 million, compared to a negative $2.8 million in the previous year. Despite an IFRS net loss of $16 million for the quarter, HEALWELL ended the period with $15.6 million in cash, up from $9.4 million in Q4 2024. The company is now focusing on two main segments: AI and data science, and health care software, with the latter achieving a 408% increase in revenue to $28.4 million. The integration of the AI platform DARWEN into the Amadeus software is anticipated to enhance capabilities across global healthcare systems. Looking forward, HEALWELL aims to complete integration plans to maintain and improve operating margins while demonstrating commercial validation of its AI platform.HEALWELL AI Financial Statement Overview
Summary
Income Statement
34
Negative
Balance Sheet
52
Neutral
Cash Flow
28
Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 136.30M | 103.80M | 38.97M | 7.32M | 10.42M | 47.82M |
| Gross Profit | 61.05M | 40.39M | 17.32M | 1.26M | 3.71M | 15.01M |
| EBITDA | -4.50M | -12.62M | -18.42M | -16.11M | -13.94M | -11.44M |
| Net Income | -40.11M | -46.94M | -26.29M | -31.60M | -21.09M | -15.67M |
Balance Sheet | ||||||
| Total Assets | 278.35M | 284.99M | 125.53M | 53.70M | 45.63M | 60.89M |
| Cash, Cash Equivalents and Short-Term Investments | 21.95M | 18.63M | 9.68M | 19.16M | 1.80M | 7.68M |
| Total Debt | 86.73M | 86.13M | 22.20M | 20.93M | 17.42M | 14.35M |
| Total Liabilities | 156.87M | 161.04M | 51.86M | 32.23M | 32.13M | 31.14M |
| Stockholders Equity | 121.48M | 123.94M | 63.89M | 12.65M | 11.78M | 28.03M |
Cash Flow | ||||||
| Free Cash Flow | -12.12M | -20.16M | -23.93M | -10.86M | -9.49M | -9.47M |
| Operating Cash Flow | -10.45M | -19.42M | -22.62M | -10.80M | -8.35M | -7.10M |
| Investing Cash Flow | 16.25M | -69.84M | -15.37M | 1.35M | -1.17M | -8.64M |
| Financing Cash Flow | -5.06M | 95.50M | 28.24M | 27.20M | 3.78M | 21.99M |
HEALWELL AI Technical Analysis
Negative
0.88
Price Trends
0.88
Negative
0.83
Negative
0.98
Negative
Market Momentum
-0.03
Positive
38.10
Neutral
6.67
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:AIDX, the sentiment is Negative. The current price of 0.88 is above the 20-day moving average (MA) of 0.84, below the 50-day MA of 0.88, and below the 200-day MA of 0.98, indicating a bearish trend. The MACD of -0.03 indicates Positive momentum. The RSI at 38.10 is Neutral, neither overbought nor oversold. The STOCH value of 6.67 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for TSE:AIDX.
HEALWELL AI Peers Comparison
UnderperformOutperform
Sector (51)
TSE:AIDX
HEALWELL AI
0.79
-0.51
-39.23%
TSE:EKG
Cardiocomm Solutions
0.01
0.00
0.00%
TSE:RHT.H
Reliq Health Technologies
0.22
0.00
0.00%
TSE:JUMP
Leveljump Healthcare Corp.
0.06
>-0.01
-8.33%
TSE:KOVO
Kovo HealthTech Corporation
0.02
-0.02
-57.14%
TSE:NURS
Hydreight Technologies Inc
4.26
2.50
141.76%
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.