Health In Tech Announces Q3 2026 Financial Results: Contract Revenue Reaches $32.7 Million

Health In Tech Reports Q3 2026 Financial Results: Contract Revenue Reaches $32.7 Million

[STUART, Fla., November 12, 2026] —— Health In Tech (Nasdaq: HIT), an AI-powered insurtech platform company, today announced its unaudited financial results for the third quarter ended September 30, 2026.

Third Quarter and Nine Months Ended Q3 2026 Highlights

• Distribution Partners: As of September 30, 2026, the company has 984 distribution partners (including brokers, TPAs, and agents), a year-over-year increase of 15.9%.
• Third Quarter Revenue: Q3 2026 revenue was $6.6 million, up from $8.5 million in Q3 2025.
• Contract Revenue: Total contract revenue for the nine months ended 2026 was $32.7 million. Of this, $24.4 million was recognized as GAAP revenue, before considering refunds and policy adjustments.
• Revenue Pipeline: As of October 30, 2026, the revenue pipeline value was $156.4 million, with $2.6 million in contracts signed after the end of this quarter.
• Net Loss: Q3 2026 reported a net loss of $7.1 million, or $0.11 loss per share, which includes a credit loss reserve of $5.3 million.
• Adjusted EBITDA: Q3 2026 adjusted EBITDA was a loss of $3.9 million, and nine months ended adjusted EBITDA was a loss of $6.6 million, reflecting the company's ongoing investments in distribution, technology, and product development.
• Platform Pipeline Value (PPPV): As of September 30, 2026, the PPPV was $91.8 million.
• Cash Balance: As of September 30, 2026, the company had a cash balance of $10.1 million.

CEO Commentary

Health In Tech CEO Sanjay Shrestha said: "I am excited to lead Health In Tech into a new phase and thank Tim Johnson and the board for their confidence. I am focused on business scaling and capital markets operations. We have built a strong technological foundation and significant business opportunities. Our next focus is to improve the quote-to-enrollment conversion rate, turn market activities into signed policies and recognized revenue, and strengthen overall financial performance."

Company and Strategic Highlights

• HitRix Launch: The company launched HitRix in September 2026, an AI-driven broker-preferred marketplace designed to modernize the underwriting process for large group self-funded stop-loss insurance by automating data ingestion and simplifying proposal comparisons to improve efficiency.Company and Strategic Highlights

• HitRix Launch: The company launched HitRix in September 2026, an AI-driven broker-preferred market designed to modernize the process of large groups self-funding stop-loss insurance by automating data ingestion and simplifying proposal comparisons to improve efficiency.
• Three-Year Interest Rate Stability Program: The company continues to advance the three-year interest rate stability program, aiming to provide employers with multi-year cost predictability.
• Strategic Leadership Transition: Sanjay Shrestha became CEO on October 20, 2026, responsible for business execution and strategic growth. Founder Tim Johnson serves as Executive Chairman, focusing on long-term strategy, technological innovation, and product development.
• 2026 Revenue Outlook Update: The company has lowered its full-year 2026 revenue outlook to approximately $30 million, mainly because the start date for new policies has been delayed due to insurer transitions, but the company will focus on accelerating policy signing and conversion to achieve growth in 2027.

Health In Tech's core strategy is to transform its technology platform into a more scalable, commercially successful, and financially disciplined enterprise to create sustainable long-term shareholder value.