Hydreight Achieves 33% YoY H1 Revenue Growth, Records 3rd Consecutive Quarter of Profitability, and Strengthens Performance Across Verticals

“We had a great first 6 months, with 33% year-over-year growth. We have also exceeded our internal metrics across all verticals in the first seven months of the year, reinforcing the strength of our strategy. A key focus has been our investment in making the VSDHOne platform fully modular, allowing customers to adopt it module by module to fit their needs. At the same time, we’ve been prioritizing acquisitions and strategic investments that strengthen our margins, accelerate growth, and expand our ecosystem. These initiatives position us to scale efficiently and achieve our 2025 objectives.” – Shane Madden, CEO of Hydreight

VANCOUVER, British Columbia and LAS VEGAS, Aug. 25, 2025 (GLOBE NEWSWIRE) -- Hydreight Technologies Inc. (“Hydreight” or the “Company”) ( TSXV: NURS )( OTCQB: HYDTF )( FSE: SO6 ), a mobile clinical network and medical platform which enables flexible at-home medical services across 50 states in the United States, is pleased to announce its financial results for the second quarter ended June 30, 2025. All financial information is presented in Canadian dollars unless otherwise indicated.

Q2 2025 Highlights

• Q2, 2025 GAAP revenue was $5.38 million an increase of 31% compared to Q2, 2024.
• Q2, 2025 topline¹ record revenue of $7.35 million, an increase of 31% compared to Q2, 2024.
• First 6 months GAAP revenue was $9.92 million an increase of 33% compared to the same period last year.
• First 6 months topline¹ revenue was $13.88 million an increase of 33% compared to the same period last year.
  
• Gross Margin of $1.93 million, up from $1.56 million in Q2 2024
  
• Adjusted EBITDA¹ of $182K for Q2 2025, marking continued operational improvement
  
• GAAP Net Income of 50K, from GAAP Net Loss of $27K in Q2, 2024
  
• Cash on Hand of $6.10 million at quarter-end
  
• Approximately 77% growth in new Nurse signup compared to Q2, 2024
  
• Approximately 48% growth in Number of pharmacy orders compared to Q2, 2024
• The Company’s internal matrix for VSDHOne SKU orders between June and the end of August was approximately 70,000–80,000 SKUs. Within the first 60 days of that period, the Company has already received approximately 42,829 pharmacy SKU orders and with the momentum in August is on track to fulfill and surpass the entire period goal.
• Launches Personalized Genetic Testing and Wellness Solution on VSDHOne Platform
  
• The Company has shared its story at multiple investor conferences and will continue this outreach in Q3 and throughout the year.
• In 2025, the Company received unpaid analyst coverage from firms including Maxim Group and Beacon Securities, and will continue pursuing additional high-quality coverage throughout the year and beyond.
  
• Hydreight Technologies Signed Binding Letter of Intent to Acquire 5% Equity Stake in Perfect Scripts, LLC, with Option to Increase to 40%, and Establish Strategic Partnership (read more)
  
• Hydreight Technologies will host a live earnings call to discuss its Q2, 2025 results, provide a business update, and share insights into the Company’s strategic priorities for 2025.

Shane Madden, CEO of Hydreight, commented: “As we entered Q2, we set clear strategic goals, and I’m pleased to report we’ve either achieved them or made significant progress. We remained focused on growth across all three verticals while delivering profitability and sustaining positive Adjusted EBITDA. We also expanded into genetic testing, anti-aging, and mental wellness—broadening our reach and value to patients. At the same time, we’ve advanced the onboarding of high-volume franchise and direct-to-consumer partners, while pursuing tuck-in M&A opportunities that strengthen both revenue and margins. These milestones position us strongly for the remainder of 2025 and beyond.”

Highlights and Subsequent Events

• On May 27, 2025, Hydreight Launches Personalized Genetic Testing and Wellness Solution on VSDHOne Platform
• On May 5, 2025, Hydreight Technologies Appoints Dr. Roebuck As a Director of the Company
• On May 1, 2025, Hydreight Achieves Record Revenue and Profitability Milestone in Q4 2024 Audited Results
• On April 17, 2025, Hydreight Technologies to Present at the Planet MicroCap Showcase: VEGAS in partnership with MicroCapClub on Wednesday, April 23, 2025 & 1×1 Meetings on Thursday, April 24, 2025
• On April 15, 2025, Hydreight Technologies Expands GLP-1 Telehealth Suite with Launch of Liraglutide on VSDHOne Platform
• On April 8, 2025, Hydreight Technologies Partners with Renowned Endocrinologist Dr. Franklin Joseph to Bring Globally Successful Weight Loss Brand to the U.S. via VSDHOne Platform
• On April 2, 2025, Hydreight Technologies Named One of the Americas’ Fastest Growing Companies by Financial Times
• On February 27, 2025, Hydreight Technologies Expands Telehealth Services with New Oral Weight Loss Therapies on VSDHOne Platform
• On February 26, 2025, Hydreight Technologies Inc. Announces Closing of $5.4 Million LIFE Offering
• On February 19, 2025, Hydreight Technologies Recognized as a Top 50 TSX Venture Exchange Company
• On February 18, 2025, Hydreight Technologies Provides Update to Financing
  
• On February 10, 2025, Hydreight Technologies Inc. Announces LIFE Offering of up to $4 Million
  
• On February 5, 2025, Hydreight Technologies Expands Telehealth Offerings with Launch of NAD+ Therapy on VSDHOne Platform
  
• On January 29, 2025, Hydreight Technologies Partners with The DRIPBaR to Launch ‘DRIPBaR Direct’ Nationwide, Expanding Access to Direct-to-Consumer Healthcare Services
  
• On January 21, 2025, Hydreight and Victory Square Launch $10 Million Health Accelerator to Fuel Nationwide Expansion of Emerging Healthcare Brands on VSDHOne platform
  
• On January 9, 2025, Hydreight Technologies Provides Shareholder Update on 2024 Milestones and 2025 Vision
  
  

The Company believes the following Non-GAAP¹ financial measures provide meaningful insight to aid in the understanding of the Company’s performance and may assist in the evaluation of the Company’s business relative to that of its peers:

	Three months ended June 30,						Six months ended June 30,
		2025		2024		% change		2025		2024		% change
Adjusted Revenue	$	7,348,796	$	5,589,481		31%	$	13,876,753	$	10,456,485		33%
Deduct - deferred business partner contract revenue		198,794		(186,935	)			652,934		(303,913	)
Deduct - business partner payouts on app service gross revenue		1,773,483		1,676,204				3,307,178		3,282,580
GAAP Revenue	$	5,376,519	$	4,100,212		31%	$	9,916,641	$	7,477,818		33%
Adjusted Gross Margin	$	2,128,996	$	1,372,862		55%	$	4,087,601	$	2,487,218		64%
Deduct - deferred business partner contract revenue		198,794		(186,935	)			652,934		(303,913	)
GAAP Gross Margin	$	1,930,202	$	1,559,797		24%	$	3,434,667	$	2,791,131		23%
Adjusted EBITDA	$	181,971	$	217,708		-16%	$	345,383	$	171,835		101%
Deduct - amortization and depreciation		107,129		24,636				208,133		71,189
Deduct - share-based payments		24,975		220,159				66,480		436,454
GAAP Net Income (Loss)	$	49,867	$	(27,087	)	284%	$	70,770	$	(335,808	)	121%

¹ Refer to Use of Non-GAAP Financial Measures

The table below sets out a summary of certain financial results of the Company over the past eight quarters and is derived from the audited annual consolidated financial statements and unaudited quarterly consolidated financial statements of the Company.

Fiscal Quarter Ended	Revenue	Net Income (Loss) After Taxes		Comprehensive Income (Loss)		Basic Income (Loss) Per Share		Diluted Income (Loss) Per Share
June 30, 2025	5,376,519	49,867		160,779		0.00		0.00
March 31, 2025	4,540,122	20,903		21,652		0.00		0.00
December 31, 2024	4,040,578	20,577		(106,396	)	0.00		0.00
September 30, 2024	4,526,320	(89,938	)	(53,119	)	(0.00	)	(0.00	)
June 30, 2024	4,100,212	(27,087	)	(48,184	)	(0.00	)	(0.00	)
March 31, 2024	3,377,606	(308,721	)	(370,559	)	(0.01	)	(0.01	)
December 31, 2023	3,373,193	(898,561	)	(865,068	)	(0.02	)	(0.02	)
September 30, 2023	3,088,219	(466,973	)	(548,954	)	(0.01	)	(0.01	)

Please see SEDAR+ for the Company's condensed consolidated audited financial statements and MD&A for audited annual consolidated financial statements for the year ended December 31, 2023.

The Company has experienced dramatic user growth over the past two years as can be seen by the consistent revenue growth over the past eight quarters. Net loss and comprehensive loss have generally remained comparable from the fourth quarter of 2021 through the current period when looking only at operating expenses, not including the RTO Transaction related expenses included in the fourth quarter of 2022. 

️Upcoming Earnings Call

Hydreight Technologies will host a live earnings call to discuss its Q2, 2025 results, provide a business update, and share insights into the Company’s strategic priorities for 2025.

Date & Time: Wednesday, August 27th, 2025 at 10:45 - 11:15
Registration Link: https://hydreight.zoom.us/webinar/register/WN_5x7B0-lzRs-_Ab8If82dVQ 

The event will include a formal presentation followed by a Q&A session with investors.

Launching C$10 Million Convertible Debenture Offering

On August 18, 2025, Hydreight announced up to $10 Million Convertible Debenture Offering. The Company announced that it has entered into an agreement with Canaccord Genuity Corp. pursuant to which it has agreed to act as lead agent and sole bookrunner, in connection with a “best efforts” private placement of up to C$10,000,000 aggregate principal amount of unsecured convertible debentures of the Company, issued in ordinary multiples of C$1,000. To read more details about this please click here.

“We’ve always prioritized being fiscally responsible—funding our growth without taking on debt. While we could already achieve positive net profit and maintain strong cash reserves, we saw an opportunity to accelerate our goals with major investments and strategic M&A. To support this growth, diversify our institutional investor base, and align with partners who believe in our long-term vision, we made the decision to launch this initiative.” – Shane Madden, CEO of Hydreight

Capital Markets and Investment Conference Activities:

Hydreight will be participating in multiple capital markets and investment conferences to share its story with both existing and new investors. This strategy will continue in Q3 and throughout the remainder of the year.

Upcoming Investor Conferences:

CEM Muskoka Capital Event
Date: September 26–28, 2025
Location: Muskoka, ON
Conference Info: CEM Muskoka

Smallcap Discoveries Investor Event
Date: September 29–30, 2025
Location: Vancouver, BC
Conference Info: Smallcap Discoveries

Planet Microcap Showcase in partnership with MicroCapClub
Date: October 21-23, 2025
Location: Toronto, Ontario
Conference Info: Planet Microcap Showcase

The Company also announces that, further to its news release dated July 14, 2025, the Company and Perfect Scripts LLC have mutually agreed to extend the deadline to draft, finalize and execute a definitive agreement (the “Definitive Agreement”) respecting their proposed strategic partnership transaction (the “Transaction”) from August 25, 2025 to September 3, 2025. Closing of the Transaction would occur within five business days of the date of the Definitive Agreement or such earlier or later date as the parties may agree or the TSX Venture Exchange may require. The completion of the Transaction remains subject to the fulfillment or waiver of several conditions, including receipt by Hydreight of approval from the TSX Venture Exchange.

On behalf of the Board of Directors
Shane Madden
Director and Chief Executive Officer
Hydreight Technologies Inc.

Contact
Email: ir@hydreight.com; Telephone: (702) 970-8112

Hydreight Technologies Inc Ranked Number 56 Fastest-Growing Company in North America on the 2024 Deloitte Technology Fast 500™

Hydreight Technologies Recognized as a Top 50 TSX Venture Exchange Company

This press release does not constitute an offer of securities for sale in the United States. The securities being offered have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and such securities may not be offered or sold within the United States absent U.S. registration or an applicable exemption from U.S. registration requirements.

About Hydreight Technologies Inc.

Hydreight Technologies Inc is building one of the largest mobile clinic networks in the United States. Its proprietary, fully integrated platform has hosted a network of over 3000 nurses, over 200 doctors and a pharmacy network through its Doctor networks across 50 states. The platform includes a built-in, easy-to-use suite of fully integrated tools for accounting, documentation, sales, inventory, booking, and managing patient data, which enables licensed healthcare professionals to provide services directly to patients at home, office or hotel. Hydreight is bridging the gap between provider compliance and patient convenience, empowering nurses, med spa technicians, and other licensed healthcare professionals. The Hydreight platform allows healthcare professionals to deliver services independently, on their own terms, or to add mobile services to existing location-based operations. Hydreight has a 503B pharmacy network servicing all 50 states and is closely affiliated with a U.S. certified e-script and telemedicine provider network.

About VSDHOne - Direct to Consumer Platform

Developed in partnership with Victory Square Technologies (CSE: VST) (OTC: VSQTF) (FWB: 6F6), Hydreight Technologies launched the VSDHOne (Read as VSDH-One) platform. VSDHOne simplifies the entry challenges for companies and medi-spa businesses to enter the online healthcare space compliantly. This platform will help all businesses to launch a direct-to-consumer healthcare brand in a matter of days in all 50 states. Compliant offerings include: GLP-1s, peptides, personalized healthcare treatments, sermorelin, testosterone replacement therapy (“TRT”), hair loss, skincare, sexual health and more. Hydreight invested in technology, legal and infrastructure to launch this platform. The VSDHOne platform offers a complete, and modular end-to-end solution for businesses looking to launch direct-to-consumer healthcare brands. From compliance and telemedicine technology to nationwide doctor and pharmacy networks, VSDHOne provides all the tools needed for a seamless entry into the online healthcare space. The platform is designed to significantly reduce the time and costs associated with launching such services, making it possible for businesses to go live in days instead of months.

Neither TSXV nor its Regulation Services Provider (as that term is defined in policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release. This press release does not constitute an offer of securities for sale in the United States. The securities being offered have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and such securities may not be offered or sold within the United States absent U.S. registration or an applicable exemption from U.S. registration requirements.

Use of Non-GAAP Financial Measures:

This release contains references to non-GAAP financial measures Adjusted Revenue, Adjusted Gross Margin and Adjusted EBITDA. The Company defines Adjusted Revenue as gross cash income before adjustment for the deferred portion of business partner contract revenue and gross receipts from Hydreight App service sales. The Company defines Adjusted Gross Margin as GAAP gross margin plus inventory impairment plus the deferred portion of business partner contract revenue. The Company defines Adjusted EBITDA as net income (loss) before interest, taxes, depreciation and amortization and before (i) transaction, restructuring, and integration costs and share-based payments expense, and (iii) gains/losses that are not reflective of ongoing operating performance. The Company believes that the measures provide information useful to its shareholders and investors in understanding the Company’s operating cash flow growth, user growth, and cash generating potential and may assist in the evaluation of the Company’s business relative to that of its peers more accurately than GAAP financial measures alone. This data is furnished to provide additional information and does not have any standardized meaning prescribed by GAAP. Accordingly, it should not be considered in isolation or as a substitute for measures of performance prepared in accordance with GAAP and is not necessarily indicative of other metrics presented in accordance with GAAP.

Neither TSXV nor its Regulation Services Provider (as that term is defined in policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release. This press release does not constitute an offer of securities for sale in the United States. The securities being offered have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and such securities may not be offered or sold within the United States absent U.S. registration or an applicable exemption from U.S. registration requirements.

Cautionary Note Regarding Forward-Looking Information

This press release contains statements which constitute “forward-looking information” within the meaning of applicable securities laws, including statements regarding the plans, intentions, beliefs and current expectations of the Company with respect to future business activities and operating performance. Forward-looking information is often identified by the words “may”, “would”, “could”, “should”, “will”, “intend”, “plan”, “anticipate”, “believe”, “estimate”, “expect” or similar expressions and includes information regarding expectations for the 2025 strategic outlook, Company's growth, Margins and VSDHOne’s and Hydreight’s growth and numbers in 2025 and month of August 2025.

Investors are cautioned that forward-looking information is not based on historical facts but instead reflects the Company’s management’s expectations, estimates or projections concerning future results or events based on the opinions, assumptions and estimates of management considered reasonable at the date the statements are made. Although the Company believes that the expectations reflected in such forward-looking information are reasonable, such information involves risks and uncertainties, and undue reliance should not be placed on such information, as unknown or unpredictable factors could have material adverse effects on future results, performance or achievements of the Company. Among the key factors that could cause actual results to differ materially from those projected in the forward-looking information are the following: the ability to obtain requisite regulatory and other approvals with respect to the business operated by the Company and/or the potential impact of the listing of the Company’s shares on the TSXV on relationships, including with regulatory bodies, employees, suppliers, customers and competitors; changes in general economic, business and political conditions, including changes in the financial markets; changes in applicable laws; compliance with extensive government regulation; and the diversion of management time as a result of being a publicly listed entity. This forward-looking information may be affected by risks and uncertainties in the business of the Company and market conditions.

Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking information prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected. Although the Company has attempted to identify important risks, uncertainties and factors which could cause actual results to differ materially, there may be others that cause results not to be as anticipated, estimated or intended. The Company does not intend, and does not assume any obligation, to update this forward-looking information except as otherwise required by applicable law.

¹See Use of Non-GAAP Financial Measures