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FUNKO ANNOUNCES FIRST LICENSED STORE IN SOUTHEAST ASIA IN THE PHILIPPINES

Expanding its global footprint, Funko brings an immersive retail experience to one of its fastest-growing fan communities

MANILA, Philippines, April 15, 2025 /PRNewswire/ — Funko, Inc. (NASDAQ: FNKO), the global pop culture lifestyle brand, today announced the planned opening of the first Southeast Asian Funko-licensed store by local retailer, Funtastik Enterprises Corp, in the Philippines, scheduled for June 2025. This expansion marks another milestone in Funko’s international growth strategy, reinforcing its commitment to meeting fans where they are and bringing the brand experience to its passionate communities.

Funko to open its First Southeast Asian standalone store in Manila's SM Mall of Asia
Funko to open its First Southeast Asian standalone store in Manila’s SM Mall of Asia

Driven by thriving comic conventions, strong community engagement, and a booming e-commerce ecosystem, the Philippines is one of the most active markets for pop culture in Southeast Asia. Filipino fan communities rank among the world’s most engaged audiences for Funko, making this a strategic move to bolster local engagement and attract new fans. Funko has partnered with Funtastik based on its market expertise and focus on customer service. 

“As a global brand, Funko is committed to expanding our presence in the most engaged and fastest-growing fan communities,” said Cynthia Williams, CEO of Funko, Inc. “The Philippines is one of our strongest-performing markets in Asia, and this licensed store represents our investment in its passionate fanbase. We’ve seen remarkable success with similar stores in the Middle East, and we’re excited to bring that momentum here. By deepening our retail footprint and enhancing direct-to-consumer experiences, we hope to inspire connection, self-expression, and fun for our fans—wherever they are in the world.”

Located in SM Mall of Asia, the retail space will offer exclusive product drops and interactive zones, celebrating beloved entertainment, sports, and music franchises, as well as the growing world of anime. Fans can expect an array of collectibles, including the iconic Funko Pop! line, Bitty Pop! and Loungefly.

With this launch, Funko accelerates its global reach through best-in-class retail and licensing partnerships, shaping the next era of fan culture across Asia.

About Funko

Funko is a global pop culture company at the forefront of the growing Kidult economy and evolving fan behavior. With a diverse portfolio of owned and licensed brands – including Funko, Loungefly, and Mondo – Funko delivers industry-defining products that span vinyl figures, micro-collectibles, fashion accessories, apparel, plush, action toys, high-end art, music and digital collectibles, and more. Through these products, which include Pop! Yourself, Bitty Pop!, and Digital Pop!™ among others, Funko inspires fans to express their passions, build community, and have fun. Founded in 1998 and headquartered in Washington state, Funko has offices, retail locations, operations, and licensed partnerships in major consumer geographies across the globe. Learn more at Funko.com, Loungefly.com, and follow us on TikTok, X, and Instagram.  

Forward Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements contained in this press release that do not relate to matters of historical fact should be considered forward-looking statements, including statements regarding Funko’s retail presence and partnerships. These forward-looking statements are based on management’s current expectations. These statements are neither promises nor guarantees, but involve known and unknown risks, uncertainties and other important factors that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements, including, but not limited to, the important factors discussed under the caption “Risk Factors” in our quarterly report on Form 10-Q for the quarter ended September 30, 2024 and our other filings with the Securities and Exchange Commission that could cause actual results to differ materially from those indicated by the forward-looking statements made in this press release. Any such forward-looking statements represent management’s estimates as of the date of this press release. While we may elect to update such forward-looking statements at some point in the future, we disclaim any obligation to do so, even if subsequent events cause our views to change. These forward-looking statements should not be relied upon as representing our views as of any date subsequent to the date of this press release.

JelloX Biotech Establishes US Research Base

To further advance oncology with technology, the biotech startup is setting up a 3D cancer pathology lab in the Phoenix-based Discovery Oasis biotech space.

PHOENIX, Ariz. and HSINCHU, April 15, 2025 /PRNewswire/ — JelloX Biotech Inc., a Taiwan-based startup at the forefront of cancer pathology, is announcing it will open a lab in the Discovery Oasis biotechnology space in Phoenix, Arizona.

JelloX Biotech Inc. provides a comprehensive 3D pathology platform and service, which can be rapidly implemented in standard pathology laboratories.
JelloX Biotech Inc. provides a comprehensive 3D pathology platform and service, which can be rapidly implemented in standard pathology laboratories.

Contact JelloX at sales@jellox.com to explore partnerships and learn more about the company’s cutting-edge 3D pathology technology.

An expansive 120-acre development, Discovery Oasis is envisioned as a biotechnology corridor of collaboration to advance groundbreaking solutions to humanity’s most complex medical challenges. With around 1,100 square feet of space housing some of its most advanced equipment, JelloX will leverage its new lab for applying cutting-edge technologies like 3D imaging and AI to cancer pathology.

“Medical problems like cancer require many parties working together to create better treatments and patient care,” commented Dr. Yen-Yin Lin, CEO of JelloX. “With all the promise 3D pathology offers, we are thrilled to establish a research base in the US, particularly one where we can work hand-in-hand with other pioneering companies to fight cancer while contributing to the country’s leadership in biotech innovation.”

JelloX’s breakthrough 3D pathology technology

As the company’s research has consistently shown, the higher sensitivity of 3D methods has real implications for improving diagnosis and treatment in oncology. Traditional methods of tissue sampling offer limited information on a tumor. Methods using 3D pathology can not only identify cases previously classified as “false negatives” but also enable early cancer detection. This allows for earlier treatment initiation and greater precision.

Dr. Lin continued: “3D pathology can offer at least 50 times more information than conventional 2D methods, providing pathologists with a more comprehensive understanding of a tumor’s biology. The power of such a diagnostic tool lies in its ability to help pathologists stratify and personalize, matching the right patients with the right treatment at the right time. This ultimately leads to better prognosis, quality of life, and more patient-centered care.”

JelloX’s recent research collaborations with major healthcare institutions in Japan and Taiwan have consistently shown the value of 3D pathology across demographics and in a variety of cancers, including colorectal cancer, esophageal cancer, and HER2 detection in breast cancer.

In addition to the prospect of improving patient outcomes, JelloX’s 3D pathology technology has the potential to expand possibilities across healthcare stakeholders:

  • For physicians: This advanced diagnostic tool offers a more comprehensive patient data set and, when integrated with AI, helps reduce physician workloads.
  • For pharmaceutical companies and research institutions: The technology enhances companion diagnostics (CDx) for drug usage and serves as a valuable tool for new drug development.
  • For healthcare systems: 3D pathology optimizes medical resource allocation and minimizes unnecessary financial and healthcare burdens.

About JelloX Biotech Inc.

Based in Hsinchu, Taiwan, JelloX Biotech Inc. is a startup which focus on advancing cancer pathology through 3D digital imaging and AI technology. 

For more information, please visit: https://jellox.com/en/home/

Hi & Fi Asia-China 2025: Charting New Frontiers in Health and Food Innovation

Categories: Food Ingredients, Health & Nutrition, Trade

SHANGHAI, April 15, 2025 /PRNewswire/ — Asia’s premier platform for health ingredients and food innovation, Hi & Fi Asia-China, is set to return with its most ambitious edition yet. From 24-26 June 2025 at the National Exhibition and Convention Center (NECC) Shanghai.

The event will unite company leaders, disruptors, and innovators across the F&B, nutraceutical, and pet nutrition industries, offering unparalleled opportunities to explore cutting-edge trends and forge transformative partnerships.

A Gateway to Asia & China’s Thriving Markets

With over 500+ exhibitors from 80+ countries—including giants like Givaudan, Bloomage Biotechnology, Angel Enzyme, Cabio, BGG, Amicogen, KD Nutra, Golden Omega, showcasing Healthy Ingredients, Food & Beverage Ingredients, Natural Organic Ingredients, Animal & Plant Extracts, Functional Food, Food additives, Flavors, Spices Condiments, Probiotics, Novel Food Ingredients, etc.

How to Grow Your Business at Hi & Fi Asia-China?

3 industrial co-located shows bring numerous networking opportunities: to co-locate with Healthplex Expo / Natural & Nutraceutical Products China 2024 (HNC), Propack China & Starch expo – 200,000㎡, 2,500+ exhibitors, 120,000+ visitors, connect across food, beverage & nutraceuticals.

Import & Export Desk to solve market access problems: on-site experts to resolve trading and certification queries in real time.

Pre-event matchmaking service: arrange early enrollment for registered buyers to connect suppliers before the show.

Newly Launched Pavilions Ensure Higher Efficiency of Your Visit

Natural Food & Spices Pavilion: Embark on a global spice journey—from India’s bold, aromatic curries to the Mediterranean’s fragrant rosemary. These diverse flavors fuel culinary creativity, elevating food innovation to new heights.

Healthy Condiments Pavilion: The epicenter of wellness trends, featuring low-sodium soy sauce, organic sauces, and more. Connect seamlessly with suppliers and buyers to create the next market sensation.

Novel Food Ingredients Pavilion: Discover cutting-edge ingredients like algae protein and plant-based alternatives, empowering businesses to develop standout products and gain a competitive edge.

Sugar free Pavilion: Explore ingredients like Stevia, Glycosides, Erythritol, Xylitol, Maltitol, Sorbitol

Marine Resources Pavilion: Showcasing Marine Oil (Fish Oil, Krill Oil, Algal Oil), Omega-3 (ALA, EPA, DHA), Omega-6 (Linoleic Acid), Omega-9 (Oleic Acid), Fish Collagen Peptide and Oyster Peptide, etc. 

Innovative Engagement Formats Forecast

Fi Innovation Awards: As the top important event of Hi & Fi Asia-China, which aims to recognize the best innovation breakthroughs in Health, Technology and Sustainability in the food and beverage industry through third-party fair, authoritative and professional judging.

Themed Innovation Tours: Explore aging-population solutions (Silver Economy), beauty-from-within nutraceuticals (Nutricosmetic), and award-winning stands of Food Innovation Awards.

New Product Zone: In partnership with Innova Market Insights, brings together and showcases the world’s cutting-edge new and trendy food trends and health products and snacks.

Registration is now open! Secure your visitor pass at https://b8h.cn/Gqv1W1 and join the innovation movement at Hi & Fi Asia-China!

Media Contact:
Sini
Email:Sini.bai@informa.com 
Tel:8602133392212

Hohem Presents Next-Gen AI Solutions at Hong Kong Electronics Fair 2025

HONG KONG, April 15, 2025 /PRNewswire/ — Hohem, a leading global innovator in smartphone and camera gimbals, is delighted to announce its participation in the Hong Kong Electronics Fair 2025 from April 13th to 16th, 2025. Hohem makes several groundbreaking product lineups designed to elevate the filmmaking and content creation experience.

Hohem Presents Next-Gen AI Solutions at Hong Kong Electronics Fair 2025
Hohem Presents Next-Gen AI Solutions at Hong Kong Electronics Fair 2025

Visitors are invited to visit Hohem at Booth 1D-E16 to experience live demonstrations, and interactive workshops with professional photography content creators, and participate in Hohem-exclusive activities for a chance to win unique gifts and a first look at the latest releases. The Hohem team will be on hand to demonstrate how AI-powered gimbals can enhance your filmmaking workflow, providing more excellent stability, creativity, and efficiency.

Key Product Featured at the Hohem Booth:

Hohem iSteady M7 Smartphone Gimbal: Flagship smartphone gimbal with subject tracking and a 1.4-inch full-color screen controller that elevates smartphone photography.

Hohem iSteady MT2 Camera Gimbal: Harnessing AI technology for ultra-smooth stabilization and intelligent shooting modes.

Compact and Portable Gimbals: Explore Hohem’s range of lightweight gimbals suitable for smartphones, action cameras, and tablets.

“We are thrilled to be part of the Hong Kong Electronics Fair 2025,” said Chen Min, CEO of Hohem. “This event is a fantastic platform for us to engage with industry leaders and enthusiasts while showcasing our latest breakthroughs in camera and smartphone stabilization technology.”

With its appearance at the Hong Kong Electronics Fair 2025, Hohem continues to strengthen its reputation as a leading brand in gimbal technology. Attendees are invited to visit the Hohem booth to explore how cutting-edge AI technology is revolutionizing the future of videography.

About Hohem:

Hohem is a leading innovator in gimbal technology, specializing in cameras and smartphones, designed to enhance the filmmaking and content creation experience. With a commitment to quality, innovation, and customer satisfaction, Hohem continues to redefine industry standards and inspire creativity worldwide. Its innovation Gimbals has been chosen by customers in over 50 countries.

For more information, visit our:

Website: https://www.hohem.com
Hohem Store: https://store.hohem.com
YouTube: https://www.youtube.com/@hohemglobal
Instagram: https://www.instagram.com/hohem_global
TikTok : https://www.tiktok.com/@hohem_global 

The Gym Pod Launches in Hong Kong: Private, 24/7 App-Controlled Gyms

No More Excuses: Hong Kongers Can Now Book a Private Gym Session Anytime

HONG KONG, April 15, 2025 /PRNewswire/ — Imagine a gym where you never need to wait for equipment, don’t feel judged, and can work out any time of the day – even at 2 a.m. That’s the experience The Gym Pod is bringing to Hong Kong SAR.

After revolutionizing the fitness scene in Singapore with over 50 smart, private gym pods, The Gym Pod has launched two pods in Hong Kong – and they’re already turning heads. These unmanned micro gyms offer an entirely new way to train: private, on-demand, and fully app-controlled.

Privacy Meets Convenience

The Gym Pod was designed for busy, modern city-dwellers who want flexibility, privacy, and a frictionless fitness experience. Each pod is a self-contained gym space, available 24/7 and bookable in seconds through the The Gym Pod mobile app.

Inside, users will find everything they need – free weights, benches, resistance equipment, and even digital screens that guide beginners through workouts. Check out the equipment list and setup to see what’s inside each pod.

With sessions starting from just HK$38 per half hour, The Gym Pod is one of the most affordable private fitness options in the city – no contracts, no crowds, just you and your workout. Or users can bring a friend or two and further share the cost.

Breaking the Barriers to Fitness

“We found that many people feel intimidated at traditional gyms, or they simply don’t have time for crowded peak hours,” says Chris, Co-Founder of The Gym Pod Hong Kong. “We built this for those people – to make fitness as convenient and comfortable as ordering food delivery.”

With privacy, affordability, and tech at its core, The Gym Pod has built a loyal following in Singapore. Now, it’s ready to empower Hong Kongers to take charge of their fitness journeys.

Expanding Across Hong Kong

The Gym Pod is actively looking for new locations across Hong Kong and is calling on property owners, developers, and mall operators who want to unlock value in underutilized spaces.

“Our pods can go anywhere — rooftops, car parks, clubhouses — all we need is 25 square meters,” they add.

Interested in bringing The Gym Pod to your building or community? Visit our partnership and franchise page to learn more.

IQ-EQ enters the ANZ market with AMAL Group acquisition

Latest acquisition taps into growing demand for trustee and administration services in ANZ while strengthening the Group’s global presence

SYDNEY, April 15, 2025 /PRNewswire/ — IQ-EQ, an Astorg portfolio company, has signed an agreement to acquire the AMAL Group, a provider of Corporate Trust, Agency Services and Loan Servicing solutions with operations in Australia and New Zealand. The acquisition supports IQ-EQ’s strategy to expand its global corporate trust and loan servicing business and enter into key new growth markets.

This transaction is announced subject to regulatory approval from the Foreign Investment Review Board (FIRB) in Australia.

The acquisition takes place against the backdrop of accelerated growth in Australia’s corporate trust market due to strong continued year on year double digit growth in the securitisation market driven by regional growth in the non-bank lender (non-ADIs) market. With superannuation assets projected for 2025 to total $4.1 trillion and $11.5 billion in alternative investment flows we’re witnessing a significant shift driven by increased allocations to alternative assets such as infrastructure, real estate, and private equity. As interest rates ease private market fund managers are increasingly moving more into this market with high single digit growth expected across real assets and private credit and private equity. These market conditions are causing demand to rise for sophisticated, end-to-end trustee and loan administration solutions. 

As the region’s only integrated provider of loan servicing, corporate trust and agency services, AMAL Group has in excess of A$37 billion of funds under administration and supervision in Australia and New Zealand.                                                                                                

Commenting on the announcement, Mark Pesco, Group Chief Executive Officer at IQ-EQ said:

“This investment marks a significant milestone in our global expansion strategy, with an exciting opportunity to secure an important presence in two key new markets and take ownership of a leading corporate trustee, agency services and administration business.

“The AMAL Group’s addressable market spans the four key reporting segments of trustees – securitisation, wholesale loans, funds, and managed investment trusts, each of which have unique market dynamics and client requirements. As the only scaled end-to-end provider of trustee services and loan administration in Australia and New Zealand, this positions us to grow our corporate trust and loan administration business in synergy, cross-selling into our global client base and servicing our existing global clients amid growing demand for services in these new markets,” he added.

Richard Surrency, Group Chief Commercial Officer at IQ-EQ added:

“The AMAL Group brings deep client relationships, strong regulatory foundations, and market-recognised top-tier servicing capability to the table. Their highly experienced management team, full suite of licences, and proven technology infrastructure allows us to drive operational efficiencies, scale our offering, and accelerate growth across corporate trustee, loan administration and fund administration services. We’re particularly excited about the opportunity to build on its established track record in securitisation, and we hope to expand into adjacent areas over time.”

Chief Executive Officer of AMAL Trustees, Nick Procter further commented:

“Being part of a dynamic global player like IQ-EQ is a terrific market development that will enable AMAL to better service its existing clients and offer new products and services to a wider variety of markets and strategies. This transaction is good for everyone; for both businesses, for our clients and for the expert team of people who will help drive a smooth integration, business growth and success. We’re excited about what we can offer the Australian market and can’t wait to get started together.”

Following approval from the FIRB, AMAL Group will be rebranded to IQ-EQ, and the newly combined global IQ-EQ team will total 6,000 with an operational presence across 27 jurisdictions globally. The strategic acquisition of AMAL Group includes AMAL Asset Management Limited, AMAL Corporate Holdings Pty Limited and their subsidiaries collectively. Former principals of AMAL Group, Nick Procter and Tony Grant will continue to lead the business and will join the senior leadership team of IQ-EQ Asia ensuring continuity of the day-to-day delivery of services.

Leading global financial services group Nomura acted as financial adviser to IQ-EQ on this transaction.

Note to editors

About IQ-EQ

IQ-EQ is a global, top-tier investor services group with an unrivalled offering to meet the administration, compliance, and reporting needs of the investment sector in full and worldwide.

What makes us different is our people. Operating as trusted partners to our clients, we deliver intelligent solutions through a combination of well-honed technical expertise and strong relationships based on deep understanding. We’re driven by our Group purpose, to power people and possibilities.

We make life easier, more efficient and cost effective for our clients – be they fund managers, pension or sovereign wealth funds, multinational companies, or family offices – by providing everything in one place. Our services are underpinned by a Group-wide commitment to ESG and best-in-class technology including a global data platform and innovative proprietary tools supported by in-house experts.

Following this transaction, we’ll employ a global workforce of almost 6,000 people across 27 jurisdictions and have assets under administration (AUA) exceeding US$750 billion. We work with 13 of the world’s top 15 private equity firms. Also part of the IQ-EQ group of companies are First National Trustee Company, The Private Office and Agama.

To find out more about IQ-EQ visit iqeq.com

About Astorg

Astorg is a leading pan-European private equity firm with over €23 billion of assets under management. Astorg works with entrepreneurs and management teams to acquire market leading global companies headquartered in Europe or the US, providing them with the strategic guidance, governance and capital they need to achieve their growth goals. Enjoying a distinct entrepreneurial culture, a long-term shareholder perspective and a lean decision-making body, Astorg has valuable industry expertise in healthcare, software, technology, business services and technology-based industrial companies. Headquartered in Luxembourg, Astorg has offices in London, Paris, New York, Frankfurt, and Milan. 

For more information about Astorg: www.astorg.com| Follow Astorg on LinkedIn

Contact:
Louise Veitch
Louise.veitch@aspectusgroup.com 

DXC Opens First Office in Toronto, Expanding North American Footprint

ASHBURN, Va., April 15, 2025 /PRNewswire/ — DXC Technology (NYSE: DXC), a leading Fortune 500 global technology services provider, today announced the opening of its first Canadian sales center in the heart of Toronto. This milestone marks a significant step in DXC’s growth strategy and underscores the company’s commitment to talent, innovation, and customer success across Canada.

DXC Opens First Office in Toronto, Expanding North American Footprint
DXC Opens First Office in Toronto, Expanding North American Footprint

As Canada’s largest technology hub, Toronto offers access to top-tier talent, a thriving innovation ecosystem, and proximity to both new and long-standing clients. DXC has operated in Canada for over 20 years, with teams across all 10 provinces supporting more than 350 customers, such as CIBC, Aviva, TD, Manulife, Ivari, Federal Government, Ontario Pension Board, Elections Ontario, Mount Sinai Hospital, and Hitachi Construction Truck. Today, with more than 1,800 employees in Canada, DXC serves as a trusted operating partner and advisor for some of the most significant brands across financial services, healthcare, automotive, public sector and more, to help them thrive in the era of AI by modernizing operations and delivering cutting edge, transformative solutions.

“We’re thrilled to launch our first office in Toronto, the center of Canada’s business and tech community,” said Cameron Art, DXC President of the Americas and UKI. “This office is a clear signal of our long-term ambitions in the region, our commitment to collaborative innovation, and our focus on strengthening relationships with clients in this critical market.” 

The Toronto office joins DXC’s global network of collaboration spaces in major business districts around the world, designed to bring teams together and accelerate innovation. It also reflects DXC’s focus on solving digital transformation challenges — including AI, cybersecurity, and cloud. 

“With a world-class workforce and strong innovation ecosystem, Ontario continues to attract leading global companies, reinforcing our province’s position as a top destination for tech investment,” said The Honourable Victor Fedeli, Minister of Economic Development, Job Creation and Trade.  “We are pleased to welcome DXC Technology to Toronto and wish them continued success as they undertake this significant milestone in their operations.”

This is one of several strategic initiatives DXC is making across the Americas and UKI. The company is also expanding offices in New York City, Miami, and London, further enhancing its ability to serve clients and foster collaboration and co-creation.

DXC is a trusted operating partner to many of the world’s most innovative organizations, delivering services and solutions that drive industries and businesses forward. Our technology, engineering, and consulting experts help clients modernize systems, optimize processes, manage critical workloads, integrate AI-powered intelligence, and put security at the forefront.

For more information, visit www.dxc.com.

Health In Tech Announces First Quarter 2025 Financial Results

  • Revenues increased 56% over the first quarter 2024 to $8.0 million, reflecting strong market demand
  • Income before income taxes more than tripled to $0.7 million, up 257% over the first quarter 2024
  • Cash position remained strong at $7.6 million as of March 31, 2025

STUART, Fla., April 15, 2025 /PRNewswire/ — Health In Tech (Nasdaq: HIT), an Insurtech platform company backed by third-party AI technology, today announced its financial results for the first quarter ended March 31, 2025.

Financial Highlights for the First Quarter of 2025

  • The number of enrolled employees (EEs) billed was 24,307, compared to 20,802 in the same period of 2024.
  • Total revenues were $8.0 million, 56% YoY growth.
  • Income before income tax expense was $0.7 million, 8.5% of revenue, compared to $0.2 million, 3.7% of revenue in the same period of 2024
  • Adjusted EBITDA was $1.2 million, compared to $0.5 million in the same period of 2024
  • Cash and cash equivalents were $7.6 million as of March 31, 2025, compared to $7.8 million as of December 31,2024.
  • Accounts receivable was $2.1 million as of March 31, 2025, with 28 days of AR days, compared to $1.6 million, 29 days of AR days as of December 31, 2024.

“We’re off to a strong start in 2025,” said Tim Johnson, CEO of Health In Tech. “First-quarter revenue grew 56% over the first quarter 2024, and income before income tax reached $0.7 million—8.5% of revenue—marking a 257% increase from the same period last year.”

“Our momentum continues to build post-IPO, validating the strategic initiatives we’ve executed. Innovations in our platform, product development, and market expansion are driving meaningful results and laying the groundwork for long-term growth. These gains reflect the strategic investments we made in 2024, particularly in product and service innovation, IT enhancements, infrastructure, cybersecurity, and internal controls. With these foundations in place, we’re now scaling efficiently and reaching a wider market.”

Tim continued: “Since beginning beta development of our large-group third-party AI-powered underwriting platform in November 2024, we’ve seen strong interest from the market. Even in its early stages, we successfully delivered solutions in Q1 to large employers, including one with over 1,000 employees. We’re on track for a full rollout in Q3, marking a major milestone as we broaden our total addressable market and provide smarter, faster quoting for mid-sized and large employers.”

“As we move forward, we’re accelerating new program development and expanding our broker and TPA network to grow our national footprint. With a robust pipeline and sustained momentum, we expect continued strong growth in Q2 2025. We remain dedicated to delivering exceptional value, innovation, and service as we scale.”

Recent Developments and Business Highlights

  • Partnerships and Collaborations. On March 25, 2025, the Company announced a strategic collaboration with DialCare, a leading provider of telehealth and virtual care solutions. Through this partnership, DialCare’s virtual primary care, therapy, and psychiatry services will be integrated into Health In Tech’s self-funded health plan offerings. Members across the U.S. will gain on-demand access to licensed physicians, therapists and psychiatric providers via phone or video consultations. This collaboration further enhances the Company’s mission to deliver smarter, more accessible healthcare solutions for diverse populations.
  • Appointment of Sanjay Shrestha to Board of Directors. On April 10, 2025, the Company announced the appointment of Sanjay Shrestha to its Board of Directors. Mr. Shrestha brings extensive leadership experience in scaling platform-based businesses and driving growth across the energy and technology sectors. He currently serves as President of Plug Power, having joined the company in 2019 as Chief Strategy Officer. He has played a pivotal role in driving growth and expanding value for both customers and shareholders. As General Manager, he significantly broadened the company’s product portfolio and built out the Energy business to deliver end-to-end solutions—including electrolyzers, liquefiers, and cryogenic systems—while overseeing the development of Plug’s hydrogen production facilities. In addition to his operational expertise, Mr. Shrestha has a strong capital market background, having served as a top-ranked renewables research analyst at Lazard Capital Markets and First Albany Capital. His appointment adds valuable industry and financial expertise to the Board and further strengthens Health In Tech’s strategic vision for long-term growth and market expansion.

Conference Call Details

Health In Tech will host a conference call to discuss the financial results for the first quarter of 2025 on April 14, 2025 at 5:00 p.m. (ET). To participate in our live conference call and webcast, please dial 1-888-346-8982 or 1-412-902-4272 (for international participants).

A live audio webcast will be available via the Investor Relations page of Health In Tech’s website at https://healthintech.com/. A replay of the webcast will be available for on-demand listening shortly after the completion of the call, at the same web link, and will remain available for approximately 90 days.

Non-GAAP Financial Information

This release presents Adjusted EBITDA, a non-GAAP financial metric, which is provided as a complement to the results provided in accordance with accounting principles generally accepted in the United States of America (“GAAP”). A reconciliation of historical non-GAAP financial information to the most directly comparable GAAP financial measure is provided in the accompanying tables found at the end of this release.

Use of ForwardLooking Statements

Certain statements in this press release are forward-looking statements for purposes of the safe harbor provisions under the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements may include estimates or expectations about Health In Tech’s possible or assumed operational results, financial condition, business strategies and plans, market opportunities, competitive position, industry environment, and potential growth opportunities. In some cases, forward-looking statements can be identified by terms such as “may,” “will,” “should,” “design,” “target,” “aim,” “hope,” “expect,” “could,” “intend,” “plan,” “anticipate,” “estimate,” “believe,” “continue,” “predict,” “project,” “potential,” “goal,” or other words that convey the uncertainty of future events or outcomes. These statements relate to future events or to Health In Tech’s future financial performance, and involve known and unknown risks, uncertainties and other factors that may cause Health In Tech’s actual results, levels of activity, performance, or achievements to be different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. You should not place undue reliance on forward-looking statements because they involve known and unknown risks, uncertainties and other factors which are, in some cases, beyond Health In Tech’s control and which could, and likely will, affect actual results, levels of activity, performance or achievements. Any forward-looking statement reflects Health In Tech’s current views with respect to future events and is subject to these and other risks, uncertainties and assumptions relating to Health In Tech’s operations, results of operations, growth strategy and liquidity.

About Health In Tech 

Health In Tech (Nasdaq: “HIT”) is an Insurtech platform company backed by third-party AI technology, which offers a marketplace that aims to improve processes in the healthcare industry through vertical integration, process simplification, and automation. By removing friction and complexities, we streamline the underwriting, sales and service process for insurance companies, licensed brokers, and TPAs. Learn more at healthintech.com.

 

 

Health In Tech, Inc.

Consolidated Statements of Operations

(Unaudited

Three Months Ended March 31,

2025

2024

Revenues

Revenues from underwriting modeling (ICE)

$2,351,984

$1,784,635

Revenues from fees

5,663,000

3,340,296

    SMR

5,663,000

2,532,922

    HI Card

807,374

Total revenues

8,014,984

5,124,931

Cost of revenues

2,659,585

989,911

Gross profit

5,355,399

4,135,020

Operating expenses

Sales and marketing expenses

1,090,255

1,043,208

General and administrative expenses

3,246,765

1,999,194

Research and development expenses

537,721

760,196

Total operating expenses

4,874,741

3,802,598

Other income (expense):

Interest income

85,366

24,312

Interest expenses

(165,000)

Other income

118,399

Total other income (expense), net

203,765

(140,688)

Income before income tax expense

$684,423

$191,734

Provision for income taxes

(185,831)

(91,198)

Net income

$498,592

$100,536

Net income per share

Basic

$0.01

Diluted

$0.01

 Weighted average common stocks outstanding

Basic

54,619,858

51,769,358

Diluted

56,996,936

51,769,358

 

 

Health In Tech, Inc.

Consolidated Balance Sheets

(Unaudited

March 31, 2025

December 31, 2024

Assets               

Current assets

Cash and cash equivalents

$7,575,037

$7,849,248

  Accounts receivable, net

2,110,601

1,647,103

  Other receivables

3,989,788

500,252

  Deferred offering costs

91,500

  Prepaid expenses and other current assets

1,804,912

787,161

Total current assets

15,571,838

10,783,764

Non-current assets

  Software

4,736,093

3,962,461

  Loans receivable, net

831,994

815,995

  Operating lease – right of use assets

190,275

206,269

Total non-current assets

5,758,362

4,984,725

Total assets

$21,330,200

$15,768,489

Liabilities and stockholders’ equity

Current liabilities

Accounts payable and accrued expenses

$5,478,888

$1,858,840

Income taxes payable

425,556

205,253

Operating lease liabilities – current

69,122

66,881

Other current liabilities

780,045

Total current liabilities

6,753,611

2,130,974

Non-current liabilities

Deferred tax liabilities

294,203

328,676

Operating lease liabilities – non-current

121,595

139,811

Total non-current liabilities

415,798

468,487

Total liabilities

7,169,409

2,599,461

Stockholders’ equity

Common stock, $0.001 par value; Class A Common stock
   150,000,000 shares authorized, 42,973,204 and
   42,914,870 shares issued and outstanding as of
   March 31, 2025 and December 31, 2024, respectively

42,973

42,915

Common stock, $0.001 par value; Class B Common stock
   50,000,000 shares authorized, 11,700,000 shares
   issued and outstanding as of March 31, 2025 and
   December 31, 2024, respectively

11,700

11,700

Additional paid-in capital

9,666,130

9,173,017

Retained earnings

4,439,988

3,941,396

Total stockholders’ equity

14,160,791

13,169,028

Total liabilities and stockholders’ equity

$ 21,330,200

$15,768,489

 

 

Health In Tech, Inc.

Consolidated Statements of Cash Flows

(Unaudited

Three Months Ended March 31,

2025

2024

CASH FLOWS FROM OPERATING ACTIVITIES: 

Net income

$498,592

$100,536

Adjustments to reconcile net income to net cash provided by
(used in) operating activities:

  Amortization expense

135,983

134,787

Provision for potential revenue reduction

780,045

Deferred tax benefits

(34,473)

(60,070)

Amortization of debt discount

165,000

Interest income

(15,999)

(15,999)

Stock-based compensation expense

493,171

Changes in operating assets and liabilities:

Accounts receivable

(463,498)

221,102

Other receivables

(3,489,536)

237,093

Prepaid expenses and other current assets

(1,017,751)

(89,988)

Operating lease right of use assets and liabilities, net

19

624

Accounts payable and accrued expenses

3,420,497

(1,485,329)

Income taxes payable

220,303

112,032

Net cash provided by (used in) operating activities

527,353

(680,212)

CASH FLOWS FROM INVESTING ACTIVITIES:

Development of software

(703,475)

(133,394)

Net cash used in investing activities

(703,475)

(133,394)

CASH FLOWS FROM FINANCING ACTIVITIES:

Payments of deferred offering costs

(98,089)

(243,210)

Net cash used in financing activities

(98,089)

(243,210)

Decrease  in cash and cash equivalents

(274,211)

(1,056,816)

Cash and cash equivalents, beginning of year

7,849,248

2,416,350

Cash and cash equivalents, end of year

7,575,037

1,359,534

Supplemental disclosures of cash flow information:

Cash paid for interest

$-

$-

Cash paid for income taxes

$-

$39,235

Summary of noncash investing and financing activities:

Accrued deferred offering costs included in accounts
   payable and accrued expenses

$33,250

$110,044

Accrued development of software included in accounts
   payable and accrued expenses

$256,140

$9,500

 

Components of Operating Results

Revenues

While our revenue this quarter primarily comes from underwriting activities and program fees associated with customized healthcare plans for small businesses, our growth is driven by delivering solutions that streamline sales processes, enhance service delivery, and shorten the sales cycle for TPAs, MGUs, and brokers. We offer our services through our three subsidiaries. Program services provided by SMR and MGU activities provided by ICE (including eDIYBS) are interdependent, as they cannot function effectively without being combined. Services provided by HI Card is an optional add-on to our other services, and it cannot be offered on a standalone basis. Brokers that utilize the program services on behalf of the small employer provided by SMR and MGU activities provided by ICE, are not obligated to utilize our HI Card service. Currently ICE does not offer underwriting services as a standalone service. In the future, we may consider offering it as a standalone service.

Cost of revenues

Cost of revenues primarily consists of infrastructure costs to operate our platform such as hosting fees and fees paid to various third-party partners for access to their technology, services and amortization expenses of our capitalized internal-use software related to our platform. We mainly outsource captive management services and data services from the third-party companies. Our internal proprietary system seeks to consistently improve underwriting and services results through machine learning and data feeds. The captive management activities include introducing new carriers, conducting due diligence on carriers, conducting feasibility studies to determine the viability to be a stop-loss carrier on the platform, negotiating terms and contracts, coordinating audit requests, managing relationship with unrelated carriers and their regulators and auditor firms to ensure that our risk associated with our service offerings is minimized.

Sales and marketing expenses

Sales and marketing expenses primarily consist of personnel-related costs including salaries, benefits and commissions cost for our sales and marketing personnel. Sales and marketing expenses also include the costs for advertising, promotional and other marketing activities, as well as certain fees paid to various third-party for sales and customer acquisition.

General and administrative expenses

General and administrative expenses primarily consist of personnel-related costs and related expenses for our executives, finance, legal, human resources, technical support, and administrative personnel as well as the costs associated with professional fees for external legal, accounting and other consulting services, insurance premiums.

Research and development expenses

Research and development expenses primarily consist of personnel-related costs, including salaries and benefits for our research and development personnel. Additional expenses include costs related to the software development, quality assurance, and testing of new technology, and enhancement of our existing platform technology.

Adjusted EBITDA

Adjusted EBITDA represents our earnings from continuing operations before net interest expense, taxes, and depreciation and amortization expense, adjusted to eliminate stock-based compensation expense and public company readiness costs not deemed capitalizable. Adjusted EBITDA is not a measure calculated in accordance with United States Generally Accepted Accounting Principles, or GAAP. We exclude certain non-recurring or non-cash items when calculating Adjusted EBITDA, and we believe this approach provides a more meaningful measure by offering a clearer view of our underlying operational performance.

 

Financial Results Summary

(Unaudited

($ in millions)

Three Months Ended March 31,

2025

2024

% Change

Total revenues

$

8.0

$

5.1

56.4 %

GAAP gross margin

66.8 %

80.7 %

-13.9 %

Income before income tax expense

$

0.7

$

0.2

257.0 %

Adjusted EBITDA

$

1.2

$

0.5

163 %

 

Investor Contact
Investor Relations:
ir@healthintech.com