Want to see TSE:AIDX full AI Analyst Report?
Top Page
HEALWELL AI
(TSX:AIDX)
Select Model
Select Model
Rating:45Neutral
Price Target:
C$0.71
▲(7.88% Upside)
Action:Reiterated
Date:08/11/26
The score is held back primarily by weak financial performance (ongoing losses and negative TTM cash flow) and a soft technical setup (below key moving averages with negative MACD). The earnings call provides a partial offset via improved first-half operating metrics and margin targets, but near-term execution risks and timing headwinds remain. Valuation is also constrained by losses implied by the negative P/E.
Positive Factors
Large platform scale & clinical validation
Extensive data coverage and clinician engagement create durable network effects for AI model performance and clinical credibility. A large, validated dataset (150M records, 770k clinicians) raises switching costs, supports product improvement, and underpins longer‑term adoption and cross‑sell across health systems.
Negative Factors
TTM negative cash generation
Persistent negative operating and free cash flow in the trailing twelve months threatens self‑funding of growth and increases dependence on financing or equity issuance. If enterprise revenue realization lags, continued cash burn could constrain strategic investments and limit runway for integration work.
Read all positive and negative factors
Positive Factors
Negative Factors
Large platform scale & clinical validation
Extensive data coverage and clinician engagement create durable network effects for AI model performance and clinical credibility. A large, validated dataset (150M records, 770k clinicians) raises switching costs, supports product improvement, and underpins longer‑term adoption and cross‑sell across health systems.
Read all positive factors
HEALWELL AI (AIDX) vs. iShares MSCI Canada ETF (EWC)
Market Cap
C$257.45M
Dividend YieldN/A
Average Volume (3M)459.97K
Price to Earnings (P/E)―
Beta (1Y)1.01
Revenue Growth54.06%
EPS Growth51.07%
CountryCA
Employees570
SectorHealthcare
Sector Strength45
IndustryMedical - Care Facilities
Share Statistics
EPS (TTM)-0.13
Shares Outstanding303,547,420
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$1.88Price Target Upside184.09% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering6
EPS Forecast (FY)-0.06
Revenue Forecast (FY)C$135.86M
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
null...
HEALWELL AI Earnings Call Summary
Earnings Call Date:Aug 07, 2026
(Q2-2026)
| % Change Since: |
Next Earnings Date:Nov 16, 2026
Earnings Call Sentiment Positive
Overall the call combined strong year‑to‑date financial and operational progress—notably a 60% increase in first‑half revenue (driven by the Orion acquisition), a ~2,574% improvement in first‑half adjusted EBITDA, positive operating cash flow improvement (~145%), and compelling platform scale and clinical validation—with near‑term execution and timing headwinds. The primary negatives were a flat Q2 revenue, a smaller Q2 adjusted EBITDA versus the prior year quarter, gross‑margin mix pressure, subscription volatility that prompted investor questions, and longer enterprise sales cycles causing revenue recognition timing risks. Management emphasized that the business is transitioning through the trough of integration into an enterprise recurring model and is targeting ~10% adjusted EBITDA margin by year‑end, while expecting some AI/DS growth to be realized later as enterprise contracts are deployed.Positive Updates
Strong first-half revenue growth (Orion acquisition)
Revenue from continuing operations of $66.2M for the 6 months ended June 30, 2026, up 60% versus $41.2M in the prior year period; increase driven primarily by the April 1, 2025 Orion Health acquisition contributing a full 6 months of revenue.
Negative Updates
Flat quarter — Q2 revenue stagnation
Second quarter 2026 revenue of $33.0M was essentially flat versus $33.2M in Q2 2025, reflecting an unusually strong Q2 2025 that benefited from elevated project‑based services and showing limited quarter‑to‑quarter growth in Q2.
Read all updates
Q2-2026 Updates
Positive
Negative
Strong first-half revenue growth (Orion acquisition)
Revenue from continuing operations of $66.2M for the 6 months ended June 30, 2026, up 60% versus $41.2M in the prior year period; increase driven primarily by the April 1, 2025 Orion Health acquisition contributing a full 6 months of revenue.
Read all positive updates
Company Guidance
Management reiterated a push to margin and recurring enterprise revenue, targeting approximately a 10% adjusted EBITDA margin by year‑end while noting 2026 growth will likely be at the lower end of the prior 30–50% range; reported results to date include Q2 revenue of $33.0M (Q2 2025: $33.2M), Q2 adjusted EBITDA $1.1M (Q2 2025: $2.3M), Q2 gross profit $17.9M (gross margin 54%), H1 revenue $66.2M (+60% YoY vs $41.2M), H1 adjusted EBITDA $1.9M (vs $0.1M, +2,574%), H1 gross profit $37.4M (gross margin 57%), and positive operating cash flow of $4.5M for the first half (a $14.4M, ~145% improvement); product and scale metrics highlighted include 150M patient records, 770k clinicians, 1,291 physicians onboarded, 22k providers, DARWEN screening 123 diseases and identifying >62,000 high‑risk patients in Q2; commercial KPIs and expectations include a 10% cross‑sell target (halfway through the year), enterprise deal sizes of roughly $1M–$3M versus pilots of ~$200k–$300k, an AI/Data Science FY25 base of ~$10M with management implying ~ $13M for FY26, a SpaceX stake valued at ~CAD23M (June 30) up from CAD4.6M (Mar 31), short‑term net liabilities near ~1x adjusted EBITDA and ~ $30M of long‑term convertible debt, and an overall outlook of larger, stickier subscription and SaaS revenue recognized as implementation milestones complete in H2 and into 2027.HEALWELL AI Financial Statement Overview
Summary
Income Statement
38
Negative
Balance Sheet
55
Neutral
Cash Flow
33
Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 128.74M | 103.80M | 38.97M | 7.32M | 10.42M | 47.82M |
| Gross Profit | 57.70M | 40.39M | 17.32M | 1.26M | 3.71M | 15.01M |
| EBITDA | 10.39M | -13.28M | -18.42M | -16.11M | -13.94M | -11.44M |
| Net Income | -29.53M | -46.94M | -26.29M | -31.60M | -21.09M | -15.67M |
Balance Sheet | ||||||
| Total Assets | 296.79M | 284.99M | 125.53M | 53.70M | 45.63M | 60.89M |
| Cash, Cash Equivalents and Short-Term Investments | 39.81M | 18.63M | 9.68M | 19.16M | 1.80M | 7.68M |
| Total Debt | 84.51M | 86.13M | 22.20M | 20.93M | 17.42M | 14.35M |
| Total Liabilities | 165.53M | 161.04M | 51.86M | 32.23M | 32.13M | 31.14M |
| Stockholders Equity | 131.26M | 123.94M | 63.89M | 12.65M | 11.78M | 28.03M |
Cash Flow | ||||||
| Free Cash Flow | -7.99M | -20.16M | -23.93M | -10.86M | -9.49M | -9.47M |
| Operating Cash Flow | -5.30M | -19.42M | -22.62M | -10.80M | -8.35M | -7.10M |
| Investing Cash Flow | 920.00K | -69.84M | -15.37M | 1.35M | -1.17M | -8.64M |
| Financing Cash Flow | -2.66M | 95.50M | 28.24M | 27.20M | 3.78M | 21.99M |
HEALWELL AI Technical Analysis
Neutral
0.66
Price Trends
0.75
Negative
0.82
Negative
0.86
Negative
Market Momentum
>-0.01
Negative
56.88
Neutral
80.85
Negative
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 0.66 is below the 20-day moving average (MA) of 0.69, below the 50-day MA of 0.75, and below the 200-day MA of 0.86, indicating a neutral trend. The MACD of >-0.01 indicates Negative momentum. The RSI at 56.88 is Neutral, neither overbought nor oversold. The STOCH value of 80.85 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for TSE:AIDX.
HEALWELL AI Peers Comparison
UnderperformOutperform
Sector (51)
TSE:AIDX
HEALWELL AI
0.75
-0.63
-45.65%
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
0.01
-0.04
-80.00%
TSE:NURS
Hydreight Technologies Inc
3.89
0.64
19.69%
HEALWELL AI Corporate Events
Business Operations and StrategyFinancial Disclosures
HEALWELL AI Holds Q2 Revenue Steady as Recurring AI Sales and Cash Flow Improve
Positive
Aug 6, 2026
HEALWELL AI reported Q2 2026 revenue of $33 million from continuing operations, essentially flat year over year as non-recurring professional services seen in the prior period did not repeat, while recurring subscription, support and maintenance r...
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.