HEALWELL AI (TSE:AIDX)
TSX:AIDX
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HEALWELL AI
(TSX:AIDX)
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Rating:49Neutral
Price Target:
C$0.84
▼(-5.00% 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 indicates expanding adoption of the company's AI healthcare software and improving market traction. Persistent top-line expansion supports scale, increases addressable-market credibility, and provides a durable runway to achieve operating leverage if growth continues.
Negative Factors
Persistent Unprofitability
Ongoing operating losses and a large negative net margin indicate the business has not yet converted revenue growth into profitable operations. Continued unprofitability risks sustained equity erosion and limits reinvestment capacity, making long-term viability contingent on sustained margin improvement.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue Growth
Sustained TTM revenue growth indicates expanding adoption of the company's AI healthcare software and improving market traction. Persistent top-line expansion supports scale, increases addressable-market credibility, and provides a durable runway to achieve operating leverage if growth continues.
Read all positive factors
HEALWELL AI (AIDX) vs. iShares MSCI Canada ETF (EWC)
Market Cap
C$293.72M
Dividend YieldN/A
Average Volume (3M)459.97K
Price to Earnings (P/E)―
Beta (1Y)0.68
Revenue Growth181.14%
EPS Growth25.81%
CountryCA
Employees350
SectorHealthcare
Sector Strength45
IndustryMedical - Care Facilities
Share Statistics
EPS (TTM)-0.17
Shares Outstanding295,559,170
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 Upside180.03% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering7
EPS Forecast (FY)-0.08
Revenue Forecast (FY)C$136.47M
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 ...
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
Positive
0.88
Price Trends
0.88
Positive
0.84
Positive
1.03
Negative
Market Momentum
>-0.01
Positive
51.44
Neutral
75.24
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:AIDX, the sentiment is Positive. The current price of 0.88 is below the 20-day moving average (MA) of 0.91, above the 50-day MA of 0.88, and below the 200-day MA of 1.03, indicating a neutral trend. The MACD of >-0.01 indicates Positive momentum. The RSI at 51.44 is Neutral, neither overbought nor oversold. The STOCH value of 75.24 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for TSE:AIDX.
HEALWELL AI Peers Comparison
UnderperformOutperform
Sector (51)
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HEALWELL AI
0.90
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-33.33%
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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
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-62.50%
TSE:NURS
Hydreight Technologies Inc
4.24
2.34
123.16%
HEALWELL AI Corporate Events
Business Operations and StrategyFinancial DisclosuresM&A Transactions
HEALWELL AI Posts Record Revenue and Turns Adjusted EBITDA Positive as It Becomes Pure-Play AI Software Firm
Positive
Mar 19, 2026
HEALWELL AI reported record fiscal 2025 revenue from continuing operations of about $103.8 million, up 427% year over year, and delivered its first full year of positive adjusted EBITDA of $2.3 million, despite an IFRS net loss of $39.1 million. M...
Business Operations and Strategy
HEALWELL AI Expands DARWEN Platform’s Scientific Footprint With 47 Peer-Reviewed Studies
Positive
Mar 12, 2026
HEALWELL AI announced that its DARWEN AI platform has now been validated in 47 peer-reviewed publications across multiple diseases and diverse patient populations, reinforcing its scientific credibility. New research presented at the European Croh...
Financial Disclosures
HEALWELL AI Sets March Dates to Release 2025 Results and Brief Investors
Neutral
Mar 9, 2026
HEALWELL AI Inc., a healthcare artificial intelligence firm specializing in preventative care and clinical decision support tools, leverages proprietary technology to help clinicians detect rare and chronic diseases earlier and manage patient care...
Business Operations and StrategyProduct-Related Announcements
HEALWELL AI Wins Major U.S. HIE Deal as AI-Enabled Platform Gains Global Traction
Positive
Mar 5, 2026
HEALWELL AI has secured a multi-million dollar, multi-year U.S. Health Information Exchange software contract after a competitive process, expanding its data interoperability footprint in a key market. The platform will aggregate and normalize cli...
Business Operations and Strategy
HEALWELL AI Steps Up Investor Outreach With March Conference Lineup
Positive
Feb 27, 2026
HEALWELL AI will showcase its preventative-care-focused AI healthcare platform at three major investor conferences in March 2026, including TD Cowen’s Health Care Conference in Boston, Scotiabank’s TMT Conference in Toronto, and the RO...
Business Operations and StrategyProduct-Related Announcements
HEALWELL AI Enters Middle East as Enterprise Healthcare Deployments Accelerate
Positive
Feb 26, 2026
HEALWELL AI has secured its first AI deployment in the Middle East with a major governmental health system already on the Orion Health network, extending the reach of its DARWEN-powered SMART Search platform beyond North America and underscoring i...
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.