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HEALWELL AI (TSE:AIDX)
TSX:AIDX

HEALWELL AI (AIDX) AI Stock Analysis

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TSE:AIDX

HEALWELL AI

(TSX:AIDX)

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Neutral 50 (OpenAI - 5.2)
Rating:50Neutral
Price Target:
C$0.84
▼(-2.33% Downside)
The score is held back primarily by weak financial performance (large losses and negative free cash flow) and bearish technicals (price below key moving averages with negative MACD). The latest earnings call provides a meaningful offset with strong integration-driven revenue growth and positive adjusted EBITDA, but valuation remains constrained by losses and there is no dividend support.
Positive Factors
Revenue Growth
The substantial revenue growth indicates strong market demand and successful integration of new acquisitions, enhancing long-term business prospects.
Segment Expansion
Expansion in the AI and data science segment highlights the company's ability to innovate and capture new market opportunities, supporting future growth.
Cash Position Improvement
Improved cash reserves enhance financial stability and provide flexibility for strategic investments, supporting long-term operational resilience.
Negative Factors
Profitability Challenges
Ongoing net losses indicate persistent profitability challenges, which could hinder reinvestment and growth initiatives if not addressed.
Gross Margin Decline
Declining gross margins suggest increasing cost pressures, which may impact the company's ability to maintain competitive pricing and profitability.
Cash Flow Concerns
Negative cash flows highlight challenges in generating sufficient cash from operations, potentially limiting financial flexibility and growth capacity.

HEALWELL AI (AIDX) vs. iShares MSCI Canada ETF (EWC)

HEALWELL AI Business Overview & Revenue Model

Company DescriptionHealwell AI Inc., a healthcare technology company, focuses on AI and data science for preventative care. It offers AI-enabled decision support platform for healthcare providers. Healwell AI Inc. has a strategic alliance agreement with WELL Health Technologies Corp to enhance the growth and development of AI-enabled healthcare technologies. The company was formerly known as MCI Onehealth Technologies Inc. and changed its name to Healwell AI Inc. in October 2023. Healwell AI Inc. was incorporated in 2012 and is headquartered in Toronto, Canada.
How the Company Makes MoneyHEALWELL AI generates revenue through multiple streams including subscription-based models for its software solutions, licensing agreements with healthcare providers, and consulting services that help organizations implement AI technologies. The company offers tiered subscription plans that provide access to various features and functionalities tailored to different sizes and types of healthcare organizations. Additionally, HEALWELL AI has established partnerships with key players in the healthcare industry, including hospitals and health systems, which not only enhance its market reach but also contribute significantly to its earnings through collaborative projects and joint ventures.

HEALWELL AI Earnings Call Summary

Earnings Call Date:Nov 06, 2025
(Q3-2025)
|
% Change Since: |
Next Earnings Date:Mar 26, 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.
Q3-2025 Updates
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%.
Positive Adjusted EBITDA
HEALWELL reported positive adjusted EBITDA of $0.7 million, a significant improvement from an adjusted EBITDA loss of $2.8 million in Q3 2024.
AI and Data Science Segment Growth
The AI and data science segment achieved revenue of $2 million in Q3 2025, marking a 79% year-over-year growth compared to Q3 2024.
Successful Integration and Expansion
HEALWELL completed the simplification of its business, forming a pure-play software and AI company, and launched Amadeus AI, integrating DARWEN into Orion Health's Amadeus platform.
Increased Cash Position
HEALWELL ended the quarter with $15.6 million in cash, compared to $9.4 million at the end of Q4 2024, indicating a stronger financial position.
Negative Updates
Gross Margin Decline
HEALWELL's gross margin percentage decreased to 54% during Q3 2025, compared to 57% in Q3 2024.
Increased Net Loss
HEALWELL reported an IFRS net loss from continuing operations of $16 million in Q3 2025, compared to a net loss of $8.7 million in Q3 2024.
Seasonal Revenue Fluctuations
Professional services revenue experienced volatility, with a significant slowdown during the Northern Hemisphere summer.
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
HEALWELL AI shows strong revenue growth but struggles with profitability and cash flow. Improved leverage management is noted, but negative returns on equity and cash flow issues highlight ongoing financial struggles.
Income Statement
HEALWELL AI shows a significant revenue growth rate of 72.36% in the TTM, indicating strong top-line expansion. However, the company struggles with profitability, as evidenced by negative margins across gross profit, net income, EBIT, and EBITDA. The negative net profit margin of -72.53% and EBIT margin of -61.92% highlight ongoing operational challenges.
Balance Sheet
The company's debt-to-equity ratio has improved to 0.93 in the TTM, indicating better leverage management compared to previous years. However, the return on equity remains negative at -49.23%, reflecting continued losses. The equity ratio is not explicitly calculated, but the balance sheet shows a relatively stable stockholders' equity position.
Cash Flow
HEALWELL AI's cash flow situation is concerning, with negative operating and free cash flows. The free cash flow to net income ratio is slightly positive at 1.08, suggesting some alignment between cash flow and accounting earnings. However, the negative free cash flow growth rate of -10.43% indicates deteriorating cash generation capabilities.
BreakdownTTMDec 2024Dec 2023Dec 2022Dec 2021Dec 2020
Income Statement
Total Revenue100.17M38.97M7.32M10.42M47.82M38.57M
Gross Profit18.79M17.32M1.26M3.71M15.01M64.22M
EBITDA-20.14M-18.42M-16.11M-13.94M-11.44M2.11M
Net Income-59.22M-26.29M-31.60M-21.09M-15.67M-1.03M
Balance Sheet
Total Assets309.79M125.53M53.70M45.63M60.89M22.36M
Cash, Cash Equivalents and Short-Term Investments15.61M9.68M19.16M1.80M7.68M1.27M
Total Debt88.49M22.20M20.93M17.42M14.35M15.04M
Total Liabilities185.66M51.86M32.23M32.13M31.14M22.12M
Stockholders Equity120.31M63.89M12.65M11.78M28.03M114.00K
Cash Flow
Free Cash Flow-25.22M-23.93M-10.86M-9.49M-9.47M3.99M
Operating Cash Flow-23.57M-22.62M-10.80M-8.35M-7.10M4.22M
Investing Cash Flow-74.60M-15.37M1.35M-1.17M-8.64M-234.00K
Financing Cash Flow98.34M28.24M27.20M3.78M21.99M-4.22M

HEALWELL AI Technical Analysis

Technical Analysis Sentiment
Negative
Last Price0.86
Price Trends
50DMA
1.03
Negative
100DMA
1.21
Negative
200DMA
1.30
Negative
Market Momentum
MACD
-0.05
Negative
RSI
39.83
Neutral
STOCH
48.15
Neutral
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 0.86 is below the 20-day moving average (MA) of 0.86, below the 50-day MA of 1.03, and below the 200-day MA of 1.30, indicating a bearish trend. The MACD of -0.05 indicates Negative momentum. The RSI at 39.83 is Neutral, neither overbought nor oversold. The STOCH value of 48.15 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for TSE:AIDX.

HEALWELL AI Peers Comparison

Overall Rating
UnderperformOutperform
Sector (51)
Financial Indicators
Name
Overall Rating
Market Cap
P/E Ratio
ROE
Dividend Yield
Revenue Growth
EPS Growth
51
Neutral
$7.86B-0.30-43.30%2.27%22.53%-2.21%
50
Neutral
C$278.30M-2.83-41.85%290.06%-56.48%
* Healthcare Sector Average
Performance Comparison
Ticker
Company Name
Price
Change
% Change
TSE:AIDX
HEALWELL AI
0.86
-0.83
-49.11%
TSE:RHT.H
Reliq Health Technologies
0.22
0.00
0.00%
TSE:NPTH
Neupath Health Inc.
0.52
0.32
160.00%
TSE:JUMP
Leveljump Healthcare Corp.
0.06
>-0.01
-3.33%
TSE:KOVO
Kovo HealthTech Corporation
0.03
-0.02
-37.50%

HEALWELL AI Corporate Events

Business Operations and StrategyFinancial DisclosuresM&A TransactionsRegulatory Filings and Compliance
HEALWELL AI Clarifies Forward-Looking Metrics After Strategic Divestments
Positive
Dec 31, 2025

HEALWELL AI issued additional disclosure at the request of the Ontario Securities Commission to clarify forward-looking information contained in its November 3, 2025 announcement of strategic divestments and business refocusing. The company explained that its referenced annual revenue run-rate of about $120 million and profitability on an Adjusted EBITDA basis are grounded principally in its Q3 2025 financial results, which showed $30.4 million in quarterly revenue from continuing operations—up 354% year over year—and a second consecutive quarter of positive Adjusted EBITDA following the acquisition of Orion Health. HEALWELL detailed the assumptions underpinning these projections, including sustained customer relationships, continued adoption of its software and AI tools, stable economic conditions, adequate financing, regulatory compliance amid evolving AI rules, respect of intellectual property, competitive dynamics, and its ability to keep innovating, underscoring the uncertainties and risks inherent in such forward-looking statements for investors and other stakeholders.

The most recent analyst rating on (TSE:AIDX) stock is a Buy with a C$2.50 price target. To see the full list of analyst forecasts on HEALWELL AI stock, see the TSE:AIDX Stock Forecast page.

Business Operations and StrategyExecutive/Board Changes
HEALWELL AI Strengthens Board with Ian Kidson Appointment
Positive
Dec 10, 2025

HEALWELL AI has appointed Ian Kidson to its Board of Directors, bringing his extensive experience in financial, governance, and healthcare corporate leadership to the company. This strategic move is expected to bolster HEALWELL’s mission of advancing healthcare through early disease detection and improve its market positioning by leveraging Kidson’s expertise in guiding organizations through growth and transformation.

The most recent analyst rating on (TSE:AIDX) stock is a Hold with a C$0.94 price target. To see the full list of analyst forecasts on HEALWELL AI stock, see the TSE:AIDX Stock Forecast page.

Business Operations and StrategyFinancial DisclosuresM&A Transactions
HEALWELL AI Reports Record Q3 Revenue and Strategic Growth
Positive
Nov 6, 2025

HEALWELL AI Inc. reported a significant increase in revenue for Q3 2025, driven by the acquisition of Orion Health and strategic divestments that sharpen its focus on AI and SaaS healthcare solutions. The company achieved a 354% year-over-year revenue growth and marked its second consecutive quarter of positive Adjusted EBITDA, highlighting improved financial performance and execution of its growth strategy. HEALWELL’s full ownership of Pentavere Research Group and strategic collaborations in the Middle East are set to enhance its AI segment, positioning it as a leading player in the global healthcare market.

The most recent analyst rating on (TSE:AIDX) stock is a Buy with a C$5.00 price target. To see the full list of analyst forecasts on HEALWELL AI stock, see the TSE:AIDX Stock Forecast page.

Business Operations and StrategyM&A Transactions
HEALWELL AI Streamlines Operations with Strategic Divestments and Joint Venture
Positive
Nov 3, 2025

HEALWELL AI has announced a series of strategic divestments and partnerships to focus on its core business of healthcare AI and SaaS services. The company has sold its Polyclinic Family Medicine and Specialty Group of Clinics to WELL Health Clinic Network Inc. and its interest in Mutuo Health Solutions Inc. to WELLSTAR Technologies Corp. Additionally, HEALWELL has formed a joint venture with WELL Health Technologies Corp. for clinical research. These transactions allow HEALWELL to streamline operations, enhance its focus on high-growth AI and software initiatives, and strengthen its financial position by adding approximately $9.4 million in cash.

The most recent analyst rating on (TSE:AIDX) stock is a Hold with a C$1.50 price target. To see the full list of analyst forecasts on HEALWELL AI stock, see the TSE:AIDX Stock Forecast page.

Business Operations and Strategy
HEALWELL AI and Lean Business Services Partner to Advance AI Healthcare in the Middle East
Positive
Oct 30, 2025

HEALWELL AI and its subsidiary Orion Health have signed a Memorandum of Understanding with Lean Business Services to explore the development and commercialization of AI-driven healthcare solutions in the Middle East and global markets. This collaboration aims to leverage HEALWELL’s AI capabilities, Orion Health’s interoperability expertise, and Lean’s market leadership in Saudi Arabia to improve population health outcomes and accelerate AI adoption in clinical workflows, aligning with Saudi Arabia’s Vision 2030 healthcare objectives.

The most recent analyst rating on (TSE:AIDX) stock is a Hold with a C$1.50 price target. To see the full list of analyst forecasts on HEALWELL AI stock, see the TSE:AIDX Stock Forecast page.

Financial Disclosures
HEALWELL AI to Release Q3 2025 Financial Results
Neutral
Oct 27, 2025

HEALWELL AI announced it will release its Fiscal Third Quarter 2025 financial results on November 6, 2025, followed by a conference call and webcast on November 7, 2025. This announcement is significant for stakeholders as it provides insights into the company’s financial health and operational progress, potentially impacting its market positioning and investor confidence.

The most recent analyst rating on (TSE:AIDX) stock is a Hold with a C$1.50 price target. To see the full list of analyst forecasts on HEALWELL AI stock, see the TSE:AIDX Stock Forecast page.

M&A TransactionsRegulatory Filings and Compliance
HEALWELL AI Updates Business Acquisition Report to Comply with International Standards
Neutral
Oct 24, 2025

HEALWELL AI Inc. has filed an amended business acquisition report for its acquisition of Orion Health Holdings Limited, initially closed on April 1, 2025. The amendment updates the audit report to comply with International Standards on Auditing (ISA), replacing the previous compliance with ISA (New Zealand). This change was made following a review by the Ontario Securities Commission, ensuring the audit report aligns with ISA requirements and includes additional auditor responsibilities disclosure.

The most recent analyst rating on (TSE:AIDX) stock is a Buy with a C$3.80 price target. To see the full list of analyst forecasts on HEALWELL AI stock, see the TSE:AIDX Stock Forecast page.

Business Operations and StrategyM&A Transactions
HEALWELL AI Strengthens UK Presence with AI-Driven Healthcare Initiatives
Positive
Oct 23, 2025

HEALWELL AI recently completed a week-long series of business development and investor awareness activities in the UK, highlighting its AI-driven preventative healthcare solutions. The company engaged with prospective investors, partners, and acquisition targets, and hosted an exclusive event in London attended by healthcare leaders and financial institutions. The discussions emphasized the integration of AI into global healthcare systems, showcasing HEALWELL’s role as a key data science vendor for the UK NHS. The event reinforced the alignment between AI innovation and healthcare investment, and highlighted opportunities for HEALWELL to expand its presence in the UK market, leveraging its acquisition of Orion Health to accelerate growth.

The most recent analyst rating on (TSE:AIDX) stock is a Buy with a C$3.80 price target. To see the full list of analyst forecasts on HEALWELL AI stock, see the TSE:AIDX Stock Forecast page.

Business Operations and StrategyProduct-Related Announcements
HEALWELL AI’s DARWEN™ Platform Pioneers AI-Generated Real-World Data for Pharmaceutical Advancements
Positive
Oct 21, 2025

HEALWELL AI, in collaboration with Takeda Pharmaceutical, has demonstrated a groundbreaking use of its DARWEN™ AI platform to generate regulatory-grade real-world data on vedolizumab dose escalation for ulcerative colitis and Crohn’s disease. This achievement, presented at the United European Gastroenterology Week, highlights the platform’s potential to enhance patient outcomes and drive pharmaceutical advancements, further solidifying HEALWELL’s position as a leader in healthcare AI.

The most recent analyst rating on (TSE:AIDX) stock is a Hold with a C$1.50 price target. To see the full list of analyst forecasts on HEALWELL AI stock, see the TSE:AIDX Stock Forecast page.

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.Date of analysis: Jan 04, 2026