Health In Tech reports Q2 2026 revenue, reaffirms guidance

Health In Tech (NASDAQ: HIT ) released second-quarter financial results and hosted an earnings call on Thursday.

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Access the full call at Summary Health In Tech reported Q2 2026 GAAP revenue of $8.1 million, a decline from $9.3 million a year ago, primarily due to a timing shift in policy effective dates caused by onboarding a new carrier partner.

The company emphasized contracted revenue, amounting to $32.3 million for 1H26, and pipeline revenue at $66.3 million as of July 31, as more accurate indicators of business momentum.

Strategic initiatives include the upcoming launch of the Hitrix platform aimed at the large-group self-funded stop-loss market and the first employer group secured under their three-year rate stabilization program.

The company reaffirmed its full-year 2026 revenue guidance of $45 million to $50 million, supported by continued sales efforts and an increase in distribution partners to 933, up 19.9% year-over-year.

Management highlighted ongoing investments in sales, marketing, and technology, reflected in increased operating expenses and a negative adjusted EBITDA of $1.3 million for the quarter.

Full Transcript Julia Thank you, Tim, and good afternoon, everyone.

I'm going to keep my remarks focused and brief because Tim has already walked you through certain of the considerations around this quarter's numbers.

I want to use my time simply to talk through the figures themselves through lenses of the metrics we introduced last quarter: contracted revenue and the platform placed plan value, because those are the numbers we believe quite holistically reflect the health of this business.

Contracted revenue means the revenue that is contractually committed under the active policies that simply has not been recognized under GAAP accounting.

There are total 32.3 million for the first half of '26.

Of that, 17.3 million was already recognized as GAAP revenue in the first half of this year, with the remaining 14 million expected in the second half of this year and 1 million in 2027.

Beyond what’s already contracted, our pipeline revenue—policies current in quoting or binding stage or post the policy contracted single quarter end—stood at 66.3 million as of July 31st, of which 1.9 million was contracted.

The remaining 64.4 million, with the expected conversion rate of 15% to 40%.

Now, with five more months remaining in 2026, the expanded sales team will continue to sell to expand its pipeline revenues through adding more brokers, TPAs, and our distribution partners.

Together, this number I would encourage you to assess for the future revenue visibility, and they underpin our decision to reaffirm full-year 2026 revenue guidance of $45 million to $50 million.

That is real forward revenue visibility extending well into next year, and we believe it provides a more extensive picture than just the single-quarter top-line print can.

Now, turning to platform placed plan value, or PPPV, which represents the aggregated contractual value of the self-funded stop-loss plans placed through our platform, including premium, current funding, and administrative fee measures.

Our overall each plan's full contract term PPPV stood at 84 million as of June 30, 2026.

I want to be clear that PPPV is a measurement of platform transaction value, not indicating our own revenue or take rate on reported GAAP revenue.

Total revenue for the second quarter was 8.1 million, down 13.5% from 9.3 million in the second quarter of last year.

The dip reflects the timing of the new carrier onboarding that shifts certain policies effectively into the future period, not a change in underlying demand.

The onboarding of the new carrier and the certain related portfolio transfer between the carriers were designed to provide greater options and flexibility to our employer customers.

As a result, the number of accounts receivable days, or AR days, in the first half of the year was 55 days versus 20 days in the first half of 2025, which is not uncommon to us.

We have ample experience and the track record of managing accounts receivable days.

For example, there were 42 days’ accounts receivable days in 2023, and then we bring down to 2924, and further down 14 accounts receivable days in 2025.

So it's a remarkable change and improvement once the carrier was starting work with us.

We actively manage these financials as well.

For the first six months of 2026, total revenue was 16.8 million compared to 17.3 million for the first half of the year last year.

Turning to profitability, adjusted EBITDA was negative 1.3 million for the quarter and negative 2.6 million for the first half of the year, compared to positive EBITDA of 1.6 million and 2.8 million, respectively, in the prior-year period.

Net loss for the quarter was 2.5 million, or 0.04 per diluted share, compared to net income of 0.6 million, or 0.01 per diluted share, and the net loss for the same period.

Compared with the same period, the net loss was 1.4 million for 1H26, or 0.07 per diluted share, compared to the net income of 1.1 million, or 0.02 per diluted share.

These reflect our continued planned investment in sales, marketing, and technology to support long-term growth, consistent with what we have described entering into this year.