HEALWELL AI (AIDX) AI Stock Analysis

• Market Cap: C$240.44M
• Dividend Yield: N/A
• Average Volume (3M): 459.97K
• Price to Earnings (P/E): ―
• Beta (1Y): 0.67
• Revenue Growth: 290.06%
• EPS Growth: -56.48%
• Country: CA
• Employees: 350
• Sector: Healthcare
• Sector Strength: 45
• Industry: Medical - Care Facilities
• EPS (TTM): -0.07
• Shares Outstanding: 294,122,600
• 10 Day Avg. Volume: 558,932
• 30 Day Avg. Volume: 459,971
• PEG Ratio: 0.17
• Price to Book (P/B): 4.48
• Price to Sales (P/S): 7.34
• P/FCF Ratio: -11.95
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: C$3.20
• Price Target Upside: 332.43% Upside
• Rating Consensus: Strong Buy
• Number of Analyst Covering: 4
• EPS Forecast (FY): -0.1
• Revenue Forecast (FY): C$136.54M

• Rating: 50 Neutral
• Price Target: C$0.84 ▲(13.51% Upside)
• Action: Reiterated Date: 01/04/26
• Date: Action: Reiterated 01/04/26

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 Business Overview & Revenue Model

Company Description

Healwell 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 Money

HEALWELL 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 Financial Statement Overview

Summary

Strong TTM revenue growth (+19.9%) and improved scale, but profitability and cash generation remain weak: low gross margin (~17%), very large operating losses (EBIT margin ~-44%) and deep net losses (net margin ~-50%). Cash flow is still negative (TTM operating cash flow -$23.6M; free cash flow -$25.2M), and debt has risen versus 2024 despite improved leverage versus 2022–2023.

Income Statement

TTM (Trailing-Twelve-Months) revenue is up strongly (+19.9%), showing clear top-line momentum, but profitability remains weak: gross margin is low (~17%) and operating losses are very large (EBIT margin ~-44%), driving a deep net loss (net margin ~-50%). While results are materially better than the extreme losses seen in 2022–2023, the business is still far from sustainable earnings.

Balance Sheet

The balance sheet shows meaningful equity ($120.3M) and moderate leverage in TTM (Trailing-Twelve-Months) with debt-to-equity around 0.64, a significant improvement versus 2022–2023 when leverage was higher. However, returns remain negative (TTM return on equity ~-46%), and total debt has risen sharply versus 2024, which increases financial risk if losses persist.

Cash Flow

Cash generation is the key weakness: TTM (Trailing-Twelve-Months) operating cash flow (-$23.6M) and free cash flow (-$25.2M) are both negative, indicating the company is still consuming cash to run and invest in the business. A positive offset is that cash burn has not worsened dramatically versus 2024 and free cash flow trends show improvement, but the company remains dependent on funding until cash flow turns sustainably positive.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Mar 2022	Dec 2020
Income Statement
Total Revenue	100.17M	38.97M	7.32M	10.42M	47.82M	38.57M
Gross Profit	18.79M	17.32M	1.26M	3.71M	15.01M	64.22M
EBITDA	-20.14M	-18.42M	-16.11M	-13.94M	-11.44M	2.11M
Net Income	-59.22M	-26.29M	-31.60M	-21.09M	-15.67M	-1.03M
Balance Sheet
Total Assets	309.79M	125.53M	53.70M	45.63M	60.89M	22.36M
Cash, Cash Equivalents and Short-Term Investments	15.61M	9.68M	19.16M	1.80M	7.68M	1.27M
Total Debt	88.49M	22.20M	20.93M	17.42M	14.35M	15.04M
Total Liabilities	185.66M	51.86M	32.23M	32.13M	31.14M	22.12M
Stockholders Equity	120.31M	63.89M	12.65M	11.78M	28.03M	114.00K
Cash Flow
Free Cash Flow	-25.22M	-23.93M	-10.86M	-9.49M	-9.47M	3.99M
Operating Cash Flow	-23.57M	-22.62M	-10.80M	-8.35M	-7.10M	4.22M
Investing Cash Flow	-74.60M	-15.37M	1.35M	-1.17M	-8.64M	-234.00K
Financing Cash Flow	98.34M	28.24M	27.20M	3.78M	21.99M	-4.22M

HEALWELL AI Technical Analysis

• Technical Analysis Sentiment: Neutral
• Last Price: 0.74
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:AIDX, the sentiment is Neutral. The current price of 0.74 is above the 20-day moving average (MA) of 0.69, below the 50-day MA of 0.79, and below the 200-day MA of 1.18, indicating a neutral trend. The MACD of -0.04 indicates Negative momentum. The RSI at 52.40 is Neutral, neither overbought nor oversold. The STOCH value of 77.25 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for TSE:AIDX.

HEALWELL AI Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
Sector *	51 Neutral	$7.86B	-0.30	-43.30%	2.27%	22.53%	-2.21%
AIDX	50 Neutral	C$240.44M	-2.43	-41.85%	―	290.06%	-56.48%

HEALWELL AI Corporate Events

HEALWELL AI Clarifies Forward-Looking Metrics After Strategic Divestments

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.

HEALWELL AI Strengthens Board with Ian Kidson Appointment

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.

HEALWELL AI Reports Record Q3 Revenue and Strategic Growth

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.