WELL Health Technologies Corp (WELL) AI Stock Analysis

• Market Cap: C$1.03B
• Dividend Yield: N/A
• Average Volume (3M): 1.37M
• Price to Earnings (P/E): ―
• Beta (1Y): 1.60
• Revenue Growth: 26.20%
• EPS Growth: -156.86%
• Country: CA
• Employees: 1,507
• Sector: Healthcare
• Sector Strength: 45
• Industry: Medical - Care Facilities
• EPS (TTM): 0.16
• Shares Outstanding: 253,882,260
• 10 Day Avg. Volume: 1,712,971
• 30 Day Avg. Volume: 1,366,290
• PEG Ratio: <0.01
• Price to Book (P/B): 1.95
• Price to Sales (P/S): 1.84
• P/FCF Ratio: -252.51
• 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$7.20
• Price Target Upside: 79.55% Upside
• Rating Consensus: Strong Buy
• Number of Analyst Covering: 6
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 58 Neutral
• Price Target: C$4.50 ▲(12.22% Upside)

WELL Health Technologies Corp's overall stock score is driven by strong revenue growth and positive earnings call sentiment. However, significant challenges in profitability, cash flow management, and technical indicators weigh down the score. The negative P/E ratio and lack of dividend yield further impact the valuation negatively.

Positive Factors

Sustained revenue growth and strong 2025 guidance

Management's guidance and Q3 results show durable top-line scale driven by recurring software, clinic visits and telehealth. Higher, predictable revenue supports long-term investment in product development and network expansion, improving resilience over a multi-quarter horizon.

Meaningful margin and adjusted EBITDA improvement

Large EBITDA gains and reported gross margin expansion indicate improving operating leverage from scale and higher-margin services. If sustained, margin recovery can convert revenue growth into durable free cash flow and fund strategic initiatives without reliance on external capital.

Diversified clinic and platform revenue base

A mix of clinics, EMR subscriptions and telehealth creates recurring, multi-channel revenue and cross-sell opportunities. Clinic scale and service breadth reduce single-market concentration and support predictable patient volumes, strengthening long-term cash generation potential.

Negative Factors

Negative operating and free cash flow

Persistent negative operating cash flow signals weak cash conversion and liquidity strain despite revenue growth. Over months this can force higher financing, constrain investments, and increase refinancing and execution risk unless operational cash generation meaningfully improves.

Poor profitability and negative return on equity

A negative ROE alongside a negative net profit margin indicates the company is not yet converting revenues into shareholder returns. Structurally weak profitability undermines reinvestment capacity and increases execution pressure to achieve sustained margin expansion.

Acquisition and regulatory execution risks

Integration, regulatory and performance issues at acquired assets (Circle Medical, HEALWELL impairment) highlight execution risk. Recurring impairments or compliance costs can erode earnings, distract management and impair long-term returns from M&A-driven strategy.

WELL Health Technologies Corp Business Overview & Revenue Model

Company Description

WELL Health Technologies Corp. operates as a practitioner focused digital health company in Canada, the United States, and internationally. It offers end-to-end omni-channel patient services, including primary care; physiotherapy, occupational therapy, chiropractic, dietary, mental health counselling, and sleep related services; specialized care, including gastroenterologists; diagnostic services related to cardiology, women's health, and bone/muscle health and cancer diagnostics; and telehealth services. The company also operates OSCAR Pro, an electronic medical records platform; telehealth platforms, including Tia Health, VirtualClinic+, VirtuelMed, Adracare, and Circle Medical; Apps.health, a digital health app marketplace; Insig, which offers virtual care and digital patient engagement services; billing and revenue cycle management solutions for billing and back-office services comprising billing-as-a-service outsourcing services to doctors; and cybersecurity protection and patient data privacy solutions. As of December 31, 2021, the company operated 30 primary care and executive care clinics; and provides primary care, specialty care, and accredited diagnostic health services through 49 locations across Ontario. The company was formerly known as Wellness Lifestyles Inc. and changed its name to WELL Health Technologies Corp. in July 2018. WELL Health Technologies Corp. was incorporated in 2010 and is headquartered in Vancouver, Canada.

How the Company Makes Money

WELL Health generates revenue through multiple streams, primarily by providing software and technology solutions to healthcare providers. Key revenue sources include subscription fees for its EMR systems, transaction fees from telehealth consultations, and sales of patient engagement tools. Additionally, WELL benefits from partnerships with various healthcare organizations and institutions, which enable it to expand its service offerings and reach a broader customer base. The company also explores opportunities in acquisitions to enhance its technology portfolio and increase market share, contributing to its overall earnings.

WELL Health Technologies Corp Financial Statement Overview

Summary

WELL Health Technologies Corp demonstrates strong revenue growth but faces significant challenges in profitability and cash flow management. The balance sheet is stable with moderate leverage, but the negative return on equity and cash flow inefficiencies pose risks. The company needs to address operational inefficiencies and improve cash generation to enhance its financial health.

Income Statement

WELL Health Technologies Corp has shown a solid revenue growth rate of 10.3% TTM, indicating strong top-line expansion. However, the company is struggling with profitability, as evidenced by a negative net profit margin of -11.7% and a negative EBIT margin. The gross profit margin remains healthy at 39.2%, but the negative EBITDA margin suggests operational challenges. Overall, the income statement reflects growth potential but significant profitability issues.

Balance Sheet

The balance sheet shows a moderate debt-to-equity ratio of 0.69, indicating a manageable level of leverage. However, the return on equity is negative at -15.2%, reflecting poor profitability and potential risks in generating returns for shareholders. The equity ratio stands at a reasonable level, suggesting a stable asset base. Overall, the balance sheet is stable but highlights concerns regarding profitability and return generation.

Cash Flow

The cash flow statement reveals a significant challenge with negative operating cash flow and free cash flow, indicating cash management issues. The free cash flow growth rate is positive, suggesting some improvement, but the operating cash flow to net income ratio is very low, highlighting inefficiencies in converting income to cash. The free cash flow to net income ratio is also negative, further emphasizing cash flow concerns. Overall, the cash flow position is weak, with potential liquidity risks.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	1.21B	919.69M	776.05M	569.14M	302.32M	50.24M
Gross Profit	456.62M	363.01M	372.27M	303.29M	153.69M	21.22M
EBITDA	80.72M	122.52M	101.88M	95.07M	21.27M	-495.00K
Net Income	-43.25M	32.61M	82.00K	19.07M	-30.69M	-2.62M
Balance Sheet
Total Assets	2.02B	1.81B	1.41B	1.32B	1.26B	262.73M
Cash, Cash Equivalents and Short-Term Investments	82.55M	131.67M	43.42M	48.91M	61.92M	86.89M
Total Debt	624.13M	425.09M	426.28M	358.42M	401.94M	23.57M
Total Liabilities	1.03B	877.55M	563.16M	503.78M	554.37M	43.75M
Stockholders Equity	844.39M	867.61M	767.67M	732.34M	618.24M	217.37M
Cash Flow
Free Cash Flow	-52.10M	-6.70M	37.20M	70.14M	19.59M	-6.52M
Operating Cash Flow	-26.75M	9.52M	66.44M	76.55M	22.27M	-5.38M
Investing Cash Flow	-106.48M	-60.23M	-106.42M	-37.93M	-499.78M	-44.21M
Financing Cash Flow	147.61M	133.50M	10.63M	-52.85M	452.53M	120.84M

WELL Health Technologies Corp Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 4.01
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:WELL, the sentiment is Negative. The current price of 4.01 is below the 20-day moving average (MA) of 4.13, above the 50-day MA of 4.01, and below the 200-day MA of 4.40, indicating a bearish trend. The MACD of >-0.01 indicates Positive momentum. The RSI at 41.60 is Neutral, neither overbought nor oversold. The STOCH value of 21.59 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for TSE:WELL.

WELL Health Technologies Corp Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
EXE	71 Outperform	C$1.96B	21.73	65.57%	2.28%	11.59%	41.99%
DR	71 Outperform	C$273.93M	2.14	39.85%	2.35%	-40.05%	558.77%
SIA	63 Neutral	C$2.02B	47.85	7.07%	4.47%	11.47%	6.45%
CRRX	59 Neutral	C$242.76M	3,870.00	0.11%	1.03%	0.19%	―
WELL	58 Neutral	C$1.03B	-23.09	-5.11%	―	26.20%	-156.86%
Sector *	51 Neutral	$7.86B	-0.30	-43.30%	2.27%	22.53%	-2.21%

WELL Health Technologies Corp Corporate Events

WELL Health Technologies Reports Robust Growth and Advances in Clinic Digitization

WELL Health Technologies Corp reported strong organic growth with a 41% year-over-year increase in quarterly revenue, driven by significant advances in clinic digitization and the opening of new primary care patient slots. The company has achieved 92% digitization in its primary care clinics and has already filled 25,000 of the 45,000 new patient openings, reflecting its commitment to expanding access to care and enhancing operational efficiency.

The most recent analyst rating on (TSE:WELL) stock is a Buy with a C$9.00 price target. To see the full list of analyst forecasts on WELL Health Technologies Corp stock, see the TSE:WELL Stock Forecast page.

WELL Health Technologies Achieves Strong Growth and Advances in Clinic Digitization

WELL Health Technologies Corp reported significant growth in its Canadian Patient Services business, achieving over $110 million in quarterly revenue, a 41% increase year-over-year. The company has made substantial progress in digitizing its clinics, reaching 92% digitization for primary care clinics in its network for over nine months. Additionally, WELL has successfully opened 25,000 new primary care patient slots out of the 45,000 planned, with expectations to fill the remainder by the end of Q1. These advancements underscore WELL’s commitment to enhancing operational efficiency and expanding healthcare access through technology.

The most recent analyst rating on (TSE:WELL) stock is a Buy with a C$9.00 price target. To see the full list of analyst forecasts on WELL Health Technologies Corp stock, see the TSE:WELL Stock Forecast page.

WELL Health Technologies Corp Announces Major Growth Milestones

WELL Health Technologies Corp’s subsidiary, WELLSTAR, has announced significant developments, including a major eReferral contract for its OceanMD platform, boosting its annual recurring revenue by 16%. The company has also completed strategic acquisitions and a $62 million financing round, positioning itself as a leader in Canada’s digital health market. These moves are part of WELLSTAR’s strategy to expand its market reach and enhance its offerings, with a potential public listing in 2026.

The most recent analyst rating on (TSE:WELL) stock is a Hold with a C$4.50 price target. To see the full list of analyst forecasts on WELL Health Technologies Corp stock, see the TSE:WELL Stock Forecast page.

WELL Health Technologies’ WELLSTAR Achieves Significant Growth and Secures Major Contract

WELL Health Technologies Corp’s subsidiary, WELLSTAR, has achieved significant growth through both organic and inorganic means. OceanMD, a leader in Canada’s eReferral market, has secured a major contract with a Canadian province, boosting WELLSTAR’s annual recurring revenue by 16%. Additionally, WELLSTAR has completed several strategic acquisitions and raised $62 million to support its growth initiatives, positioning itself as a premier digital health platform in Canada.

The most recent analyst rating on (TSE:WELL) stock is a Hold with a C$4.50 price target. To see the full list of analyst forecasts on WELL Health Technologies Corp stock, see the TSE:WELL Stock Forecast page.

WELL Health Technologies Achieves Record Q3-2025 Financial Results

WELL Health Technologies Corp reported record financial results for Q3-2025, with revenues reaching $364.6 million, a 56% increase from the previous year, driven by organic growth and acquisitions. The company achieved a record Adjusted EBITDA of $59.9 million, marking a 296% increase, and highlighted improvements in operational efficiency and patient visits in its Canadian clinics. WELLSTAR, a majority-owned subsidiary, secured $62 million in financing, reflecting strong market confidence and positioning it for future growth and an IPO.

The most recent analyst rating on (TSE:WELL) stock is a Hold with a C$6.00 price target. To see the full list of analyst forecasts on WELL Health Technologies Corp stock, see the TSE:WELL Stock Forecast page.

WELLSTAR Technologies Secures C$62 Million for Growth Ahead of Spinout

WELL Health Technologies Corp’s subsidiary, WELLSTAR Technologies, has announced a C$62 million equity placement to support its growth strategy ahead of a planned spinout. The financing, backed by prominent Canadian investors, is expected to close in December 2025 and will be used for AI innovation, acquisitions, and organic growth. This move highlights investor confidence in WELLSTAR’s performance and positions the company for a public listing in 2026, offering direct investment opportunities in a high-growth healthcare technology firm.

The most recent analyst rating on (TSE:WELL) stock is a Hold with a C$5.25 price target. To see the full list of analyst forecasts on WELL Health Technologies Corp stock, see the TSE:WELL Stock Forecast page.

WELL Health Technologies to Release Q3 2025 Financial Results

WELL Health Technologies Corp. announced it will release its Fiscal Third Quarter 2025 financial results on November 6, 2025. The company will hold a conference call and webcast on the same day to discuss the results, which could provide insights into its operational performance and market positioning.

The most recent analyst rating on (TSE:WELL) stock is a Buy with a C$9.00 price target. To see the full list of analyst forecasts on WELL Health Technologies Corp stock, see the TSE:WELL Stock Forecast page.