Health In Tech (NASDAQ:HIT) Issues Earnings Results, Misses Estimates By $0.01 EPS

Health In Tech (NASDAQ:HIT) released its quarterly earnings data on Thursday. The company reported ($0.04) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.03) by ($0.01), FiscalAI reports. The firm had revenue of $8.06 million during the quarter.

Here are the key takeaways from Health In Tech’s conference call:

• Q2 GAAP revenue fell 13.5% year over year to $8.1 million, while Adjusted EBITDA declined to negative $1.3 million from positive $1.6 million a year ago. Management attributed the revenue decline to policy effective-date shifts during a new carrier onboarding, but operating expenses continued to rise as the company invested in sales, marketing, and technology.
• Management reaffirmed full-year 2026 revenue guidance of $45 million to $50 million, citing $32.3 million of contracted revenue in the first half and $66.3 million of pipeline revenue as of July 31. The company said the contracted revenue is largely locked in but recognized over 12- to 36-month policy terms.
• The distribution network grew 19.9% year over year to 933 brokers, TPAs, and agencies. Health In Tech expects to launch its HitRix large-group marketplace within weeks, giving existing partners access to automated data parsing, simultaneous underwriter submissions, real-time comparisons, and faster closing capabilities.
• The company secured its first employer under its Three-Year Rate Stabilization Program and is pursuing additional large government and municipal organizations. Management also expects an A-rated carrier to be added within roughly 30 days, potentially opening access to larger brokerage firms and increasing future business opportunities.

Health In Tech Trading Down 5.2%

Shares of NASDAQ:HIT traded down $0.06 on Friday, reaching $1.00. 166,732 shares of the company were exchanged, compared to its average volume of 235,339. The company has a 50-day moving average of $1.06 and a 200-day moving average of $1.26. The firm has a market cap of $65.86 million, a price-to-earnings ratio of -50.25 and a beta of 2.82. Health In Tech has a 1-year low of $0.85 and a 1-year high of $4.02.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Raymond James Financial Inc. acquired a new position in Health In Tech during the third quarter worth about $45,000. Squarepoint Ops LLC purchased a new position in shares of Health In Tech during the 3rd quarter worth approximately $46,000. Millennium Management LLC acquired a new position in shares of Health In Tech during the 3rd quarter worth approximately $85,000. Jane Street Group LLC raised its position in shares of Health In Tech by 307.9% during the 4th quarter. Jane Street Group LLC now owns 50,648 shares of the company’s stock worth $81,000 after purchasing an additional 38,230 shares during the last quarter. Finally, Cubist Systematic Strategies LLC purchased a new stake in Health In Tech in the 1st quarter valued at approximately $41,000.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Craig Hallum started coverage on Health In Tech in a research note on Monday, April 20th. They issued a “buy” rating and a $4.00 price objective for the company. Wall Street Zen cut shares of Health In Tech from a “hold” rating to a “sell” rating in a report on Saturday, April 25th. Maxim Group set a $3.00 price target on shares of Health In Tech in a research note on Friday. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of Health In Tech in a research report on Tuesday, June 30th. One investment analyst has rated the stock with a Strong Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $3.50.

About Health In Tech

Health in Tech, Inc engages in the provision of insurance technology platforms which offer a marketplace of processes in the healthcare industry. Its services include Stone Mountain Risk, eDIYBS, HI Card, HI Performance Network, and Ancillary Products. The company was founded by Tim Johnson in 2014 and is headquartered in Stuart, FL.