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Alkami Announces First Quarter 2026 Financial Results

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Announces $100 Million Share Repurchase Program

PLANO, Texas, April 29, 2026 /PRNewswire/ — Alkami Technology, Inc. (Nasdaq: ALKT) (“Alkami” or “the Company”), a leading cloud-based digital banking solutions provider for financial institutions (FIs) in the U.S., today announced results for its first quarter ending March 31, 2026.

First Quarter 2026 Financial Highlights

GAAP total revenue of $126.1, an increase of 28.9% compared to the year-ago quarter;GAAP gross margin of 58.6%, compared to 59.0% in the year-ago quarter;Non-GAAP gross margin of 64.4%, compared to 64.3% in the year-ago quarter;GAAP net loss of $(10.0) million, compared to $(7.8) million in the year-ago quarter; andAdjusted EBITDA of $22.3 million, compared to $12.1 million in the year-ago quarter.

Comments on the News

Alex Shootman, Chief Executive Officer, said, “In the first quarter, we delivered strong financial and operating performance, with revenue growth of 29% and Adjusted EBITDA of over $22 million. We also continued to expand our client portfolio, signing 6 new digital banking logos and 14 new MANTL logos.”

Shootman added, “We continued our momentum with our Digital Sales & Service Platform offering as financial institutions continue to seek modern solutions that integrate onboarding, digital banking and high-ROI marketing and analytics solutions. Half of our new logos in the first quarter are DSSP clients. We believe Alkami provides the most effective digital sales and service experience in the industry, and we are continuing to deliver innovation that will drive digital transformation for years to come.”

Cassandra Hudson, Chief Financial Officer, said, “In the last 12 months, we added 2.5 million registered users to our digital banking platform, ending the quarter with 23.0 million digital banking users. We exited the first quarter with annual recurring revenue of $493.6 million, up 22% compared to the year-ago quarter and revenue per registered user of $21.46, up 9% compared to the year-ago quarter. Our first quarter adjusted EBITDA margin of 17.7% was above expectations, demonstrating the strength and scalability of our financial model.”

Share Repurchase Program

Today Alkami is announcing its Board of Directors has authorized a share repurchase program in which the Company may purchase up to $100 million of its common stock in the open market or in privately negotiated transactions. The Company’s capital allocation strategy focuses on driving growth through acquisitions, deleveraging the balance sheet and now, enhancing shareholder value through opportunistic share repurchases..

2026 Financial Outlook

The following statements are forward-looking, and actual results could differ materially depending on market conditions and the factors set forth under “Cautionary Statement Regarding Forward-Looking Statements.”

Alkami is providing guidance for its second quarter ending June 30, 2026 of:

GAAP total revenue in the range of $128.0 million to $129.0 million;Adjusted EBITDA in the range of $17.9 million to $18.7 million.

Alkami is providing guidance for its fiscal year ending December 31, 2026 of:

GAAP total revenue in the range of $527.1 million to $530.9 million;Adjusted EBITDA in the range of $94.9 million to $97.9 million.

Conference Call Information
The Company will host a conference call at 5:00 p.m. ET today to discuss its financial results with investors. A live webcast of the event will be available on the Alkami investor relations website at investors.alkami.com. In addition, a live dial-in will be available domestically at 1-800-836-8184 and internationally at 1-646-357-8785, using passcode 11581. The webcast replay will be available on the Alkami investor relations website.

About Alkami
Alkami provides a digital sales and service platform for U.S. banks and credit unions. Our unified Platform integrates onboarding, digital banking, and data and marketing—each solution can stand alone, but together they deliver more—to help institutions onboard, engage, and grow relationships. As the future shifts toward Anticipatory Banking, we help data-informed bankers meet the moment with technology that drives action.

Cautionary Statement Regarding Forward-Looking Statements
This press release contains “forward-looking” statements relating to Alkami Technology, Inc.’s strategy, goals, future focus areas, and expected, possible or assumed future results, including its future cash flows and its financial outlook. These forward-looking statements are based on management’s beliefs and assumptions and on information currently available to management. Forward-looking statements include all statements that are not historical facts and may be identified by terms such as “expects,” “believes,” “plans,” or similar expressions and the negatives of those terms. These forward-looking statements involve known and unknown risks, uncertainties, and other factors that may cause actual results, performance or achievements to be materially different from any future results, performance or achievements, expressed or implied by the forward-looking statements. Factors that may materially affect such forward-looking statements include: Our limited operating history and history of operating losses; our ability to manage future growth; our ability to attract new clients and retain and expand existing clients’ use of our solutions; the unpredictable and time-consuming nature of our sales cycles; our ability to maintain, protect and enhance our brand; our ability to accurately predict the long-term rate of client subscription renewals or adoption of our solutions; our reliance on third-party software, content and services; our ability to effectively integrate our solutions with other systems used by our clients; intense competition in our industry; any downturn, consolidation or decrease in technology spend in the financial services industry, including as a result of recent closures of certain financial institutions and liquidity concerns at other financial institutions; our ability and the ability of third parties on which we rely to prevent and identify breaches of security measures (including cybersecurity) and resulting disruptions of our systems or operations and unauthorized access to client customer and other data; our ability to successfully integrate acquired companies or businesses; our ability to comply with regulatory and legal requirements and developments; our ability to attract and retain key employees; the political, economic and competitive conditions in the markets and jurisdictions where we operate; our ability to maintain, develop and protect our intellectual property; our ability to respond to evolving technological requirements to develop or acquire new and enhanced products that achieve market acceptance in a timely manner; our ability to estimate our expenses, future revenues, capital requirements, our needs for additional financing and our ability to obtain additional capital and other factors described in the Company’s filings with the Securities and Exchange Commission. We undertake no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable law.

Explanation of Non-GAAP Financial Measures and Key Business Metrics
The company reports its financial results in accordance with accounting principles generally accepted in the United States of America, or GAAP. However, the company believes that, in order to properly understand its short-term and long-term financial, operational and strategic trends, it may be helpful for investors to exclude certain non-cash or non-recurring items when used as a supplement to financial performance measures in accordance with GAAP. These items result from facts and circumstances that vary in both frequency and impact on continuing operations. The company also uses results of operations excluding such items to evaluate the operating performance of Alkami and compare it against prior periods, make operating decisions, determine executive compensation, and serve as a basis for long-term strategic planning. These non-GAAP financial measures provide the company with additional means to understand and evaluate the operating results and trends in its ongoing business by eliminating certain non-cash expenses and other items that Alkami believes might otherwise make comparisons of its ongoing business with prior periods more difficult, obscure trends in ongoing operations, reduce management’s ability to make useful forecasts, or obscure the ability to evaluate the effectiveness of certain business strategies and management incentive structures. In addition, the company also believes that investors and financial analysts find this information to be helpful in analyzing the company’s financial and operational performance and comparing this performance to the company’s peers and competitors.

The company defines “Non-GAAP Cost of Revenues” as cost of revenues, excluding (1) amortization and (2) stock-based compensation expense. The company believes that investors and financial analysts find this non-GAAP financial measure to be useful in analyzing the company’s financial and operational performance, comparing this performance to the company’s peers and competitors, and understanding the company’s ability to generate income from ongoing business operations.

The company defines “Non-GAAP Gross Margin” as gross profit, plus (1) amortization and (2) stock-based compensation expense, all divided by revenue. The company believes that investors and financial analysts find this non-GAAP financial measure to be useful in analyzing the company’s financial and operational performance, comparing this performance to the company’s peers and competitors, and understanding the company’s ability to generate income from ongoing business operations.

The company defines “Non-GAAP Research and Development Expense” as research and development expense, excluding stock-based compensation expense. The company believes that investors and financial analysts find this non-GAAP financial measure to be useful in analyzing the company’s financial and operational performance, comparing this performance to the company’s peers and competitors, and understanding the company’s ongoing expenditures related to product innovation.

The company defines “Non-GAAP Sales and Marketing Expense” as sales and marketing expense, excluding stock-based compensation expense. The company believes that investors and financial analysts find this non-GAAP financial measure to be useful in analyzing the company’s financial and operational performance, comparing this performance to the company’s peers and competitors, and understanding the company’s ongoing expenditures related to its sales and marketing strategies.

The company defines “Non-GAAP General and Administrative Expense” as general and administrative expense, excluding (1) stock-based compensation expense (2) acquisition-related expenses (3) loss on impairment of intangible assets and (4) stockholder matters related expenses. The company believes that investors and financial analysts find this non-GAAP financial measure to be useful in analyzing the company’s financial and operational performance, comparing this performance to the company’s peers and competitors, and understanding the company’s underlying expense structure to support corporate activities and processes.

The company defines “Non-GAAP Income Before Income Taxes” as loss before income taxes, plus (1) amortization, (2) stock-based compensation expense, (3) acquisition-related expenses, (4) loss on impairment of intangible assets, and (5) stockholder matters related expenses. The company believes that investors and financial analysts find this non-GAAP financial measure to be useful in analyzing the company’s financial and operational performance, comparing this performance to the company’s peers and competitors, and understanding the company’s ability to generate income from ongoing business operations.

The company defines “Adjusted EBITDA” as net loss plus (1) provision for (benefit from) income taxes, (2) interest expense (income), net, (3) depreciation and amortization (4) stock-based compensation expense, (5) acquisition-related expenses, (6) loss on impairment of intangible assets, and (7) stockholder matters related expenses. The company believes adjusted EBITDA provides investors and other users of our financial information consistency and comparability with our past financial performance and facilitates period-to-period comparisons of operations.

The company defines “Free Cash Flow” as net cash used in operating activities less (1) purchase of property and equipment and (2) capitalized software development costs. The company believes free cash flow provided investors and other users useful information in evaluating the Company’s liquidity and it provides an indication of the long-term cash generating ability of the business.

In addition, the Company also uses the following important operating metrics to evaluate its business:

The company defines “Annual Recurring Revenue (ARR)” by aggregating annualized recurring revenue related to SaaS subscription services recognized in the last month of the reporting period as well as the next 12 months of expected implementation services revenues in the last month of the reporting period. We believe ARR provides important information about our future revenue potential, our ability to acquire new clients, and our ability to maintain and expand our relationship with existing clients.

The company defines “Registered Users” as an individual or business related to an account holder of an FI client on our digital banking platform and has access as of the last day of the reporting period presented. We exclude individuals or businesses that solely use the products and services of our acquisitions. We price our digital banking platform based on the number of registered users, so as the number of registered users of our digital banking platform increases, our ARR grows. We believe growth in the number of registered users provides important information about our ability to expand market adoption of our digital banking platform and its associated software products, and therefore to grow revenues over time.

The company defines “Revenue per Registered User (RPU)” by dividing ARR for the reporting period by the number of registered users as of the last day of the reporting period. We believe RPU provides important information about our ability to grow the number of software products adopted by new clients over time, as well as our ability to expand the number of software products that our existing clients add to their contracts with us over time.

The company does not provide a reconciliation of our adjusted EBITDA outlook to GAAP net loss because certain significant information required for such reconciliation is not available without unreasonable efforts, including provision for (benefit from) income taxes, stock-based compensation expense, acquisition-related expenses, and stockholder matters related expenses, all of which may be significant.

ALKAMI TECHNOLOGY, INC.

CONDENSED CONSOLIDATED BALANCE SHEETS

(In thousands, except share and per share data)

(UNAUDITED)

March 31,

December 31,

2026

2025

Assets

Current assets

Cash and cash equivalents

$           40,412

$           63,457

Marketable securities

37,234

35,635

Accounts receivable, net

51,435

51,494

Deferred costs, current

16,385

15,894

Prepaid expenses and other current assets

24,070

20,736

Total current assets

169,536

187,216

Property and equipment, net

27,888

26,652

Right-of-use assets

17,774

13,462

Deferred costs, net of current portion

48,224

47,430

Intangibles, net

152,323

158,943

Goodwill

403,404

403,404

Other assets

10,190

10,120

Total assets

$          829,339

$          847,227

Liabilities and Stockholders’ Equity

Current liabilities

Accounts payable

$            4,039

$            5,842

Accrued liabilities

33,539

47,359

Deferred revenues, current portion

34,004

34,770

Lease liabilities, current portion

2,178

1,576

Total current liabilities

73,760

89,547

Deferred revenues, net of current portion

25,815

25,800

Deferred income taxes

2,835

2,625

Convertible senior notes, net

336,706

336,230

Revolving loan

—

15,000

Lease liabilities, net of current portion

19,327

15,739

Other non-current liabilities

242

237

Total liabilities

458,685

485,178

Stockholders’ Equity

Preferred stock, $0.001 par value, 10,000,000 shares authorized and 0 shares issued and
outstanding as of March 31, 2026 and December 31, 2025

—

—

Common stock, $0.001 par value, 500,000,000 shares authorized; and 107,019,174 and
106,101,875 shares issued and outstanding as of March 31, 2026 and December 31, 2025,
respectively

107

106

Additional paid-in capital

904,363

885,796

Accumulated deficit

(533,816)

(523,853)

Total stockholders’ equity

370,654

362,049

Total liabilities and stockholders’ equity

$          829,339

$          847,227

 

ALKAMI TECHNOLOGY, INC.

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

(In thousands, except share and per share data)

(UNAUDITED)

Three months ended March 31,

2026

2025

Revenues

$          126,138

$            97,835

Cost of revenues(1)

52,269

40,075

Gross profit

73,869

57,760

Operating expenses:

Research and development

31,000

26,885

Sales and marketing

19,955

17,899

General and administrative

26,912

27,804

Amortization of acquired intangibles

1,707

568

Total operating expenses

79,574

73,156

Loss from operations

(5,705)

(15,396)

Non-operating income (expense):

Interest income

762

1,096

Interest expense

(2,267)

(801)

Loss before income taxes

(7,210)

(15,101)

Provision for (benefit from) income taxes

2,753

(7,285)

Net loss

$            (9,963)

$            (7,816)

Net loss per share attributable to common stockholders:

Basic and diluted

$             (0.09)

$             (0.08)

Weighted-average number of shares of common stock outstanding:

Basic and diluted

106,387,125

102,430,673

(1)

Includes amortization of acquired technology of $4.9 million and $1.9 million for the three months ended March 31, 2026 and 2025, respectively.

 

ALKAMI TECHNOLOGY, INC.

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(In thousands)

(UNAUDITED)

Three months ended March 31,

2026

2025

Cash flows from operating activities:

Net loss

$           (9,963)

$           (7,816)

Adjustments to reconcile net loss to net cash used in operating activities:

Depreciation and amortization expense

8,124

3,430

Accrued interest on marketable securities, net

46

(279)

Stock-based compensation expense

17,310

16,093

Amortization of discount and debt issuance costs

548

192

Loss on impairment of intangible assets

—

1,655

Deferred taxes

210

(8,312)

Changes in operating assets and liabilities:

Accounts receivable

59

(6,572)

Prepaid expenses and other assets

(3,639)

(5,416)

Accounts payable and accrued liabilities

(15,740)

(2,002)

Deferred costs

(1,004)

(158)

Deferred revenues

(751)

3,521

Net cash used in operating activities

(4,800)

(5,664)

Cash flows from investing activities:

Purchase of marketable securities

(17,595)

(21,883)

Proceeds from sales, maturities, and redemptions of marketable securities

15,950

9,900

Purchases of property and equipment

(387)

(485)

Capitalized software development costs

(2,187)

(1,446)

Acquisition of business, net of cash acquired

—

(375,499)

Net cash used in investing activities

(4,219)

(389,413)

Cash flows from financing activities:

Payments on revolving loan

(15,000)

—

Debt issuance costs paid

—

(779)

Proceeds from issuance of convertible senior notes

—

335,513

Proceeds from borrowing under revolving loan

—

60,000

Purchase of capped calls

—

(33,879)

Proceeds from stock option exercises

974

1,523

Net cash (used in) provided by financing activities

(14,026)

362,378

Net decrease in cash and cash equivalents

(23,045)

(32,699)

Cash and cash equivalents, beginning of period

63,457

94,359

Cash and cash equivalents, end of period

$           40,412

$           61,660

 

ALKAMI TECHNOLOGY, INC.

RECONCILIATION  OF GAAP TO NON-GAAP MEASURES

(In thousands, except per share data)

(UNAUDITED)

Three Months Ended

March 31,

2026

2025

GAAP total revenues

$   126,138

$    97,835

March 31,

2026

2025

Annual Recurring Revenue (ARR)

$   493,573

$   403,885

Registered Users

23,001

20,461

Revenue per Registered User (RPU)

$      21.46

$      19.74

Non-GAAP Cost of Revenues

Set forth below is a presentation of the company’s “Non-GAAP Cost of Revenues.” Please reference the “Explanation of
Non-GAAP Measures” section.

Three Months Ended

March 31,

2026

2025

GAAP cost of revenues

$    52,269

$    40,075

Amortization

(5,932)

(2,498)

Stock-based compensation expense

(1,430)

(2,636)

Non-GAAP cost of revenues

$    44,907

$    34,941

Non-GAAP Gross Margin

Set forth below is a presentation of the company’s “Non-GAAP Gross Margin.” Please reference the “Explanation of
Non-GAAP Measures” section.

Three Months Ended

March 31,

2026

2025

GAAP gross margin

58.6 %

59.0 %

Amortization

4.7 %

2.6 %

Stock-based compensation expense

1.1 %

2.7 %

Non-GAAP gross margin

64.4 %

64.3 %

Non-GAAP Research and Development Expense

Set forth below is a presentation of the company’s “Non-GAAP Research and Development Expense.” Please reference
the “Explanation of Non-GAAP Measures” section.

Three Months Ended

March 31,

2026

2025

GAAP research and development expense

$    31,000

$    26,885

Stock-based compensation expense

(5,245)

(5,434)

Non-GAAP research and development expense

$    25,755

$    21,451

Non-GAAP Sales and Marketing Expense

Set forth below is a presentation of the company’s “Non-GAAP Sales and Marketing Expense.” Please reference the
“Explanation of Non-GAAP Measures” section.

Three Months Ended

March 31,

2026

2025

GAAP sales and marketing expense

$    19,955

$    17,899

Stock-based compensation expense

(2,958)

(2,847)

Non-GAAP sales and marketing expense

$    16,997

$    15,052

Non-GAAP General and Administrative Expense

Set forth below is a presentation of the company’s “Non-GAAP General and Administrative Expense.” Please reference
the “Explanation of Non-GAAP Measures” section.

Three Months Ended

March 31,

2026

2025

GAAP general and administrative expense

$    26,912

$    27,804

Stock-based compensation expense

(7,677)

(9,085)

Acquisition-related expenses

(390)

(2,378)

Loss on impairment of intangible assets

—

(1,655)

Stockholder matters related expenses

(2,223)

—

Non-GAAP general and administrative expense

$    16,622

$    14,686

Non-GAAP Income Before Income Taxes

Set forth below is a presentation of the company’s “Non-GAAP Income Before Income Taxes.” Please reference the
“Explanation of Non-GAAP Measures” section.

Three Months Ended

March 31,

2026

2025

GAAP loss before income taxes

$     (7,210)

$   (15,101)

Amortization

7,698

3,066

Stock-based compensation expense

17,310

20,002

Acquisition-related expenses

390

2,378

Loss on impairment of intangible assets

—

1,655

Stockholder matters related expenses

2,223

—

Non-GAAP income before income taxes

$    20,411

$    12,000

Adjusted EBITDA

Set forth below is a presentation of the company’s “Adjusted EBITDA.” Please reference the “Explanation of Non-GAAP
Measures” section.

Three Months Ended

March 31,

2026

2025

GAAP net loss

$     (9,963)

$     (7,816)

Provision for (benefit from) income tax

2,753

(7,285)

Interest expense (income), net

1,505

(295)

Depreciation and amortization

8,124

3,430

Stock-based compensation expense

17,310

20,002

Acquisition-related expenses

390

2,378

Loss on impairment of intangible assets

—

1,655

Stockholder matters related expenses

2,223

—

Adjusted EBITDA

$    22,342

$    12,069

 

Free Cash Flow

Set forth below is a presentation of the company’s “Free Cash Flow.” Please reference the “Explanation of Non-GAAP
Measures” section.

Three Months Ended

March 31,

2026

2025

Net cash used in operating activities

$       (4,800)

$       (5,664)

Purchases of property and equipment

(387)

(485)

Capitalized software development costs

(2,187)

(1,446)

Free cash flow

$       (7,374)

$       (7,595)

 

Investor Relations Contact
Steve Calk
ir@alkami.com 

Media Relations Contacts
Marla Pieton
marla.pieton@alkami.com

Valerie Kerner
alkami@fullyvested.com

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SOURCE Alkami Technology, Inc.

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Technology

Reach Showcases Full-Stack Product Portfolio for AI Vehicle Intelligent Evolution at Auto China 2026

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3 hours ago

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May 1, 2026

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BEIJING, April 30, 2026 /PRNewswire/ — At Auto China 2026, Reach officially unveiled its full-stack product portfolio designed to accelerate the intelligent evolution of AI vehicles. Industry leaders and experts, along with executives and representatives from Honda, Toyota, FAW, Geely, GAC, Dongfeng Voyah, FAW Jiefang, BMW, Volkswagen CARIAD, Chery, Nissan, Mazda, Hitachi Astemo, Bosch, UAES, ZTE Microelectronics and other global OEMs and industry partners, visited the booth for in-depth discussions on the future of AI-powered mobility and intelligent vehicle evolution.

At the show, Reach demonstrated how AI vehicles are moving from “responding to commands” to “understanding intent and proactively serving users.” Human-vehicle interaction is evolving from isolated smart functions to integrated intelligent experiences, creating a new vision for future mobility.

Supporting this transformation is Reach’s full-stack portfolio covering five key areas: AI Vehicle Neural Foundation, Emotional Cognition, Intelligent Driving Brain, Vehicle-Cloud Computational Brain, and Energy Heart.

At the core is NeuSAR OS, the digital foundation for AI vehicles. Backed by over 10 million production deployments, it provides secure, reliable, and scalable support for AI applications, enabling unified management of vehicle-wide capabilities, cross-domain resources, and AI Agents while improving development efficiency by 30%–50%.

Cloud OS introduces a vehicle-cloud collaborative computing architecture that allows flexible scheduling between onboard small models and cloud-based large models, reducing hardware dependency and optimizing computing costs.

For intelligent driving, Reach’s full-stack AI solution and fifth-generation architecture NeuAUTO support faster mass production across passenger and commercial vehicles through unified software architecture and end-to-end AI models.

Reach AI Data-driven EV power system enables proactive battery health management and energy optimization. It also introduced AI-powered automated testing systems to improve testing efficiency and coverage.

Reach also launched its lifecycle-wide AI Agent solution, built on a full-domain data platform and intelligent systems for planning, after-sales, and operations, it supports product planning, price forecasting, safety monitoring, and customer operations across the full vehicle lifecycle.

As AI vehicles evolve toward full-system intelligence, system-level capability building and ecosystem collaboration are becoming the key to competitiveness. Reach is collaborating with global OEMs, Tier 1 suppliers, and semiconductor partners to accelerate large-scale industrial deployment.

Looking ahead, Reach continues advancing its full-stack portfolio through stronger innovation and deeper ecosystem collaboration, enabling vehicles evolve into true intelligent agents and delivering smarter, safer, and more trusted mobility experiences worldwide.

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SOURCE Reach

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Technology

Hydreight Reports Record Fiscal 2025 Results as VSDHOne Drives Rapid Growth and Platform Scale

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3 hours ago

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May 1, 2026

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Achieves profitability, scales to 11,000+ platform licenses, and strengthens balance sheet with $15.7M in cash 

VANCOUVER, BC and LAS VEGAS, April 30, 2026 /PRNewswire/ – Hydreight Technologies Inc. (“Hydreight” or the “Company”) (TSXV: NURS) (OTCQB: HYDTF) (FSE: SO6), a U.S.-focused digital health infrastructure platform, is pleased to report its audited financial results for the year ended December 31, 2025. All figures are in Canadian dollars unless otherwise stated. All references to Non-GAAP Financial Measures1 2 are as reported in the Company’s amended and restated Management Discussion and Analysis dated April 30, 2026 (“MD&A”).

Revenue reached $35.4M in 2025, with $43.6M in Adjusted Revenue1 (non-GAAP) and $2.5M in Adjusted EBITDA2 (non-GAAP), reflecting strong growth and improving operating leverage.

The Company achieved net income of $1.69M and continued to scale its platform, driven by accelerating adoption of VSDHOne and expanding transaction volumes across its national healthcare network.

FULL YEAR 2025 HIGHLIGHTS

All comparisons below are to the year ended December 31, 2024, unless otherwise noted.

Revenue: $35.4M vs. $16.04M (+121% YoY)Adjusted Revenue:(1) $43.56M vs. $22.32M (+95% YoY)Adjusted EBITDA:(2) $2.5M vs. $136K (+1,765% YoY)Rising Operating Leverage: OPEX as a % of revenue fell from 38% to 22%2025 Year-end Cash Position: $15.65M vs. $1.19M (strong balance sheet improvement)Positive Adjusted EBITDA2 across the year, reflecting improving operating leverageOver 11,000 licenses signed across the VSDHOne platform, which the Company believes demonstrates strong demand and accelerating adoption

4th QUARTER 2025 HIGHLIGHTS

All comparisons below are to the quarter ended December 31, 2024, unless otherwise noted

Revenue: $14.95M vs. $4.04M (+270% YoY)Adjusted Revenue:(1) $16.85M vs. $5.74M (+193% YoY)Adjusted EBITDA:(2) $1.58M vs. ($0.1M)Rising Operating Leverage: OPEX as a % of revenue fell to 15% in Q4 2025, versus 34% in Q4 2024

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

Notes:

(1) “Adjusted Revenue” is a non-GAAP financial measure, and the figures reflect gross economic activity processed through the Company’s platform and should not be considered revenue recognized under IFRS. See “Non-GAAP Financial Measures” section below for definition.

(2) “Adjusted EBITDA” is a non-GAAP financial measure and reflects EBITDA plus additions for atypical and non-recurring charges. See “Non-GAAP Financial Measures” section below for definition.

The following table is included to provide a reconciliation of the Company’s non-GAAP financial measures to the most directly comparable IFRS measures and to enhance the comparability and transparency of the Company’s financial performance for investors.

    Three months ended December 31,

        Twelve months ended December 31,

2025

2024

%
change

2025

2024

%
change

Adjusted Revenue

$                   16,853,102

$     5,742,523

193 %

$               43,563,753

$            22,321,265

95 %

  Deduct – deferred business partner contract
revenue

(313,878)

208,436

425,945

(45,317)

  Deduct – business partner payouts on app
service gross revenue

2,218,121

1,493,509

7,752,770

6,321,866

GAAP Revenue

$                   14,948,859

$     4,040,578

270 %

$               35,385,038

$            16,044,716

121 %

Adjusted Gross Margin

$                     2,924,341

$     1,580,387

85 %

$                 9,429,151

$              5,650,936

67 %

  Deduct – deferred business partner contract
revenue

(313,878)

208,436

425,945

(45,317)

GAAP Gross Margin

$                     3,238,219

$     1,371,951

136 %

$                 9,003,206

$              5,696,253

58 %

Adjusted EBITDA

$                     1,577,760

$         (83,191)

$                 2,542,895

$                 136,334

1765 %

  Deduct – amortization and depreciation

127,982

62,853

452,772

181,136

  Deduct – share-based payments

8,843

87,889

82,385

614,877

  Deduct – interest and accretion

452,209

–

586,354

–

  Deduct – sales tax provision, net cash paid

252,603

(254,510)

252,603

(254,510)

  Deduct – impairment charge

54,814

–

54,814

–

  Deduct – income tax expense

(119,249)

–

(119,249)

–

  Deduct – deferred tax recovery

699,586

–

699,586

–

GAAP Net Income (Loss)

$                     1,261,646

$          20,577

6031 %

$                 1,694,304

$                (405,169)

518 %

Shane Madden, CEO of Hydreight, commented:

“2025 was a defining year for Hydreight. We transitioned from a growing platform into a scaled healthcare infrastructure business, with strong revenue growth and sustained profitability.

The acceleration we saw in the second half of the year was driven largely by the rollout of VSDHOne, which is now becoming a meaningful contributor to both revenue and long-term scalability.

As we move into 2026, our focus is on expanding our partner network, increasing transaction volume across the platform, and continuing to grow our compliant healthcare infrastructures in the United States.”

BUSINESS PERFORMANCE & DRIVERS

VSDHOne – Core Growth Engine

The Company’s VSDHOne platform, launched in 2025, was a primary driver of growth, contributing to:

Rapid onboarding of new partnersExpansion of direct-to-consumer healthcare brandsIncreased transaction volume across telehealth and pharmacy services

Revenue growth in 2025 was primarily driven by VSDHOne-related activity, combined with continued organic growth across existing partners.

The platform ramped significantly through the second half of the year, with Q4 alone contributing $14.9M in revenue, representing approximately 270% growth compared to the same period in 2024. This acceleration reflects strong demand from partners seeking compliant, turnkey solutions and demonstrates the Company’s ability to scale transaction volume efficiently across its infrastructure.

OPERATING METRICS & VOLUME GROWTH

Operational performance across the Company’s core verticals continued to strengthen throughout 2025.

The Company’s first two verticals continued their historical growth in 2025, supported by alignment with broader market trends and the introduction of direct-to-consumer products and services through Hydreight’s proprietary platform structure.

Completed Services revenue in Q4 2025 for the first vertical increased by approximately 44% compared to the same period in 2024Completed Services revenue for the first vertical in 2025 increased by approximately 17% compared to 2024New nurse sign-ups increased by approximately 45% in 2025 compared to 2024

These metrics reflect continued growth in the Company’s core service offerings, expansion of its provider network, and increasing utilization across the platform.

PLATFORM SCALE & NETWORK EFFECTS

Hydreight continues to expand its position as a leading healthcare infrastructure platform:

11,000+ licenses signed across VSDHOneNational footprint across all 50 U.S. statesNetwork of healthcare providers, pharmacies, and partners

The Company believes that this scale reflects growing demand from businesses seeking compliant, turnkey solutions to enter and expand within the U.S. healthcare market.

MULTI-VERTICAL REVENUE MODEL

Hydreight generates revenue across three primary streams:

Business partner subscription contractsTelehealth consultation and platform commissionsPharmacy sales

Growth was supported by:

Expansion of product offerings (GLP-1s, peptides, NAD, TRT, and more)Increased partner utilizationBroader adoption across wellness verticals

PROFITABILITY & OPERATING LEVERAGE

Hydreight achieved strong improvements in Adjusted EBITDA, a non-GAAP measure:

Adjusted EBITDA: $2.5M in 2025 vs. $0.14M in 2024 (+1,765% YoY)Net income (loss): $1.69M in 2025 vs. $(0.41)M in 2024

Performance strengthened meaningfully in the fourth quarter, reflecting the scaling of the platform in the second half of the year.

Q4 Adjusted EBITDA: $1.58M vs. ($0.10M) in Q4 2024

This reflects:

Platform scalabilityRevenue growth outpacing cost increasesImproved operational efficiency

This improvement reflects the operating leverage inherent in the Company’s platform model and was not solely a function of higher revenue. As transaction volumes scaled across VSDHOne, incremental revenue flowed through at higher margins, supported by a largely fixed regulatory, pharmacy, and technology infrastructure. As a result, revenue growth outpaced cost growth, driving improved profitability and demonstrating the scalability of the Company’s platform.

¹ See “Non-GAAP Financial Measures and Reconciliation”.

BALANCE SHEET & LIQUIDITY

Cash: $15.65M (vs. $1.2M in 2024)Working Capital: ~$15.7M (vs. deficiency of $2.5M in 2024)Strong capital position to support ongoing operations

The Company also completed a $15M financing in January 2026, subsequent to year‑end, further strengthening its ability to scale operations and pursue strategic initiatives.

Including the $15M financing completed in January 2026, the Company has access to over $30.7M in capital to support growth initiatives.

Please see SEDAR+ for the Company’s consolidated audited financial statements and MD&A for the year ended December 31, 2025.

STRATEGIC INITIATIVES & MILESTONES

Hydreight continues to expand its platform through strategic initiatives and partnerships.

During 2025, the Company:

Strengthened its vertically integrated healthcare infrastructureExpanded its national pharmacy networkInvested in next-generation platform capabilities (VSDHOne 2.0)Established strategic relationships to enhance product innovation and distribution

In 2026, Hydreight further expanded its strategic initiatives through an investment in Insu Therapeutics, a company focused on developing innovative delivery mechanisms for peptide-based therapies. This aligns with Hydreight’s long-term strategy of supporting next-generation treatments across its platform.

OUTLOOK

Hydreight is entering 2026 with strong momentum, supported by:

Continued onboarding of new partnersIncreasing transaction volumes across VSDHOneRecent capital deployment initiativesExpansion into new healthcare verticals

As of the end of Q1 2026, VSDHOne has surpassed 12,000 licenses sold, reflecting continued momentum in platform adoption.

Management remains focused on scaling the platform while maintaining disciplined growth and operational efficiency.

“We look forward to discussing these results in more detail on our upcoming earnings call.” -Shane Madden

ANNUAL FILINGS

The Company’s audited annual financial statements for the year ended December 31, 2025, and the associated MD&A, including a full discussion of non-GAAP financial measures and their reconciliation to IFRS measures, have been filed on SEDAR+ at www.sedarplus.ca and are available on the Company’s issuer profile. Readers are encouraged to review the complete financial statements and MD&A in conjunction with this press release. The Company refiled its MD&A to correct a typographical error in the calculation of Adjusted EBITDA. No other changes have been made.

UPCOMING EARNINGS CALL

Hydreight Technologies will host a live earnings call to discuss its Q4 and full-year 2025 financial results, provide a business update, and outline the Company’s strategic priorities heading into 2026.

Date & Time: Friday, May 1, 2026 at 9:00am – 10:00pm EST

Registration Link: https://hydreight.zoom.us/webinar/register/WN_vP-U6hAiRf2Ejg8muQcocQ

The call will include a formal presentation followed by a live Q&A session. Investors are encouraged to attend to gain deeper insight into Hydreight’s growth strategy and platform expansion.

Clarification on Engagement of GRA Enterprises

Further to the Company’s news release early last year dated February 27, 2025, the Company wishes to clarify that its prior 3-month engagement of GRA Enterprises LLC (doing business as National Inflation Association) (“GRA”) was not renewed and as such was terminated effective May 27, 2025.

Under the engagement, the Company paid GRA an aggregate fee of USD $30,000 in cash pursuant to the GRA Engagement. The fee was paid from general working capital at the commencement of the engagement. No securities, stock options, or other equity-based compensation were issued or granted in connection with the engagement.

The engagement was conducted at arm’s length and has been fully concluded, with no ongoing obligations or amounts payable by the Company.  To the Company’s knowledge, neither GRA nor its principal, Gerard Adams, holds any direct or indirect interest in the Company or its securities, nor any right to acquire such an interest.

On behalf of the Board of Directors

Shane Madden
Director and Chief Executive Officer
Hydreight Technologies Inc.

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

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 300 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 platform. VSDHOne simplifies the entry challenges for companies and medi-spa businesses to enter the online healthcare space compliantly. This platform is expected to help businesses launch 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.

Use of Non-GAAP Financial Measures:
The Company uses certain non-GAAP financial measures to assess its operating performance, and this press release contains non-GAAP financial measures, including “Adjusted Revenue” and “Adjusted EBITDA”. These measures are not recognized under International Financial Reporting Standards (“IFRS”) and do not have standardized meanings prescribed by IFRS or GAAP.

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 (ii) share-based payments expense, (iii) gains/losses that are not reflective of ongoing operating performance including inventory impairment and (iv) sales tax provision, net of actual cash payments to state tax authorities. 

Adjusted Revenue reflects the gross economic activity processed through the Company’s platform during the applicable period and may differ materially from revenue recognized under IFRS, which is based on revenue recognition and deferral requirements. Adjusted Revenue is not a measure of financial performance or profitability and should not be considered a substitute for revenue determined in accordance with IFRS.  As used, Adjusted Revenue accelerates cash receipts relative to IFRS revenue recognition. Adjusted EBITDA should not be considered in isolation or as a substitute for net income (loss) prepared in accordance with IFRS.

The Company believes that these non‑GAAP measures provide information useful to investors in understanding historical operating trends and the scale of the Company’s platform relative to its peers but does not intend for such measures to represent future performance. This data is furnished to provide additional information and does not have any standardized meaning prescribed by IFRS. Accordingly, it should not be considered in isolation or as a substitute for measures of performance prepared in accordance with IFRS and is not necessarily indicative of other metrics presented in accordance with IFRS.

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 Company’s 2026 strategic outlook, growth, platform scaling initiatives, and anticipated expansion of VSDHOne and other platform offerings.

Forward‑looking information is based on management’s expectations, estimates and assumptions as of the date hereof, including assumptions regarding: continued partner adoption, stable regulatory regimes applicable to telehealth and pharmacy operations in the United States, availability of capital, and general economic conditions.

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.

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SOURCE Hydreight Technologies Inc.

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Scaled Commercial Breakthrough: OMODA & JAECOO AiMOGA Robotics Secures 1,000 Robot Orders, Boosting Smart City Deployment Step by Step

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May 1, 2026

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KUALA LUMPUR, Malaysia and WUHU, China, May 1, 2026 /PRNewswire/ — In response to steady advancement of smart city construction and the actual demand for efficient, low-cost urban public service equipment, OMODA & JAECOO officially launched the full-scale commercial layout of AiMOGA Robotics at the 2026 Chery International Business Summit in Wuhu. Centering on the theme “Driven by Scenarios, United for Growth”, the event witnessed a key industrial breakthrough: AiMOGA Intelligent Police Robots secured 1,000 intentional signing orders and completed an official concentrated delivery of 100 units, laying a solid foundation for orderly large-scale promotion and practical scenario operation in urban roads, traffic hubs and daily public governance links.

Jointly developed by OMODA & JAECOO and the professional AiMOGA technical team, the robotic product lineup covers humanoid robots, quadruped robots and core intelligent patrol robots. Drawing on the brand’s mature intelligent vehicle underlying technologies in perception, planning and control, the equipment retains high operational stability. It can well adapt to daily road conditions and climatic environments, independently completing core practical tasks such as real-time traffic guidance, illegal parking identification and fixed-route auxiliary patrols, effectively assisting local frontline staff and optimizing urban refined management efficiency.

Chery Group pointed out that intelligent vehicles and robots share core technological homology, and the batch signing and delivery officially means AiMOGA enters the stage of large-scale standardized commercialization. The products have been iteratively optimized in more than 100 real scenarios across 50 countries including Malaysia, with reliable performance that meets local application standards. Relying on supporting facilities such as university talent cooperation projects, 31 innovation laboratories and a special robot leasing platform launched at the conference, OMODA & JAECOO will steadily improve local supporting service capabilities. The brand will rely on its global channel advantages to accelerate the localized landing of embodied intelligent equipment, pragmatically empower the steady development of smart urban governance industry, and jointly build a complete regional intelligent service ecology with local partners.

View original content to download multimedia:https://www.prnewswire.com/apac/news-releases/scaled-commercial-breakthrough-omoda–jaecoo-aimoga-robotics-secures-1-000-robot-orders-boosting-smart-city-deployment-step-by-step-302758705.html

SOURCE OMODA & JAECOO

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