Financials Healwell AI Inc.

Equities

AIDX

CA42249X1006

Advanced Medical Equipment & Technology

Market Closed - Toronto S.E. Other stock markets 15:59:59 2026-01-16 EST			5-day change	1st Jan Change
0.9000 ^CAD	+2.27%		-3.23%	+7.14%

12-10	Canada Competition Bureau obtains a court order to advance probe of Well Health's acquisition of Healwell	RE
12-10	HEALWELL AI Inc. Announces the Appointment of Ian Kidson to Its Board of Directors, Effective December 10, 2025	CI

Projected Income Statement: Healwell AI Inc.

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026	2027
Net sales ¹	38.57	47.82	53.22	7.317	38.97	102.8	136.9	159.3
Change	-	23.96%	11.3%	-86.25%	432.62%	163.78%	33.13%	16.38%
EBITDA ¹	4.518	-4.644	-9.356	-7.954	-16	1.899	9.149	15.58
Change	-	-202.79%	-101.46%	14.99%	-101.19%	111.87%	381.67%	70.26%
EBIT ¹	-3.294	-15.06	-	-16.82	-33.58	-34.8	-31.36	-26.99
Change	-	-357.32%	-	-	-99.65%	-3.65%	9.89%	13.95%
Interest Paid ¹	-0.607	-	-	-	-	-10.52	-15.08	-4.184
Earnings before Tax (EBT) ¹	-	-16.29	-	-32.68	-28.28	-45.11	-43.84	-35.46
Change	-	-	-	-	13.47%	-59.49%	2.82%	19.1%
Net income ¹	-	-15.67	-	-31.54	-25.46	-51.86	-33.85	-22.07
Change	-	-	-	-	19.28%	-103.67%	34.73%	34.8%
Announcement Date	3/30/21	3/31/22	3/31/23	3/28/24	3/26/25	-	-	-

¹CAD in Million

Estimates

Fiscal Period: December	2020 Q4	2021 Q1	2021 Q2	2021 Q3	2021 Q4	2022 Q1	2022 Q2	2022 Q3	2022 Q4	2023 Q2	2023 Q3	2023 Q4	2024 Q1	2024 Q2	2024 Q3	2024 Q4	2025 Q1	2025 Q2	2025 Q3	2025 Q4	2026 Q1	2026 Q2	2026 Q3	2026 Q4
Net sales ¹	10.98	10.03	11.21	12.64	13.94	13.02	13.81	12.59	13.8	-	2.753	1.921	4.579	5.683	13.74	15.21	14.09	40.52	30.35	31.16	32.15	33.29	34.49	35.7
Change	-	-8.68%	11.74%	12.79%	10.24%	-6.57%	6.1%	-8.88%	9.63%	-	-	-30.22%	138.37%	24.11%	141.77%	10.71%	-7.38%	187.63%	-25.09%	2.65%	3.17%	3.55%	3.62%	3.5%
EBITDA ¹	0.3	-0.659	-0.691	-1.824	-1.514	-2.421	-2.936	-2.152	-1.789	-	-4.535	-1.464	-2.562	-3.676	-3.424	-5.407	-3.276	1.948	0.713	1.204	1.344	1.802	2.144	2.55
Change	-	-319.67%	-4.86%	-163.97%	17%	-59.91%	-21.27%	26.7%	16.87%	-	-	67.72%	-75%	-43.48%	6.86%	-57.91%	39.41%	159.46%	-63.4%	68.9%	11.6%	34.04%	19%	18.97%
EBIT ¹	-3.013	-2.623	-3.058	-5.33	-4.551	-4.763	-5.064	-5.119	-	-	-	-3.886	-	-7.336	-10.57	-10.49	-11.59	-8.303	-8.592	-8.683	-8.105	-7.902	-7.509	-7.384
Change	-	12.94%	-16.58%	-74.3%	14.62%	-4.66%	-6.32%	-1.09%	-	-	-	-	-	-	-44.08%	0.79%	-10.52%	28.35%	-3.48%	-1.06%	6.66%	2.51%	4.97%	1.67%
Charge d'intérêts ¹	-0.1429	-0.125	-0.107	-	-	-	-	-	-	-	-	-	-	-	-	-	-1.322	-1.796	-3.769	-3.769	-3.769	-3.769	-3.769	-3.769
Earnings before Tax (EBT) ¹	-	-2.736	-3.389	-5.47	-4.691	-5.037	-5.445	-5.588	-	-	-7.771	-6.107	-6.509	2.052	-11.35	-12.49	-14.32	-5.72	-15.89	-11.8	-10.67	-10.34	-10.03	-9.664
Change	-	-	-23.87%	-61.4%	14.24%	-7.38%	-8.1%	-2.63%	-	-	-	21.41%	-6.58%	131.53%	-653.27%	-10.01%	-14.65%	60.06%	-177.83%	25.74%	9.58%	3.11%	3.01%	3.63%
Net income ¹	-	-2.458	-2.833	-5.438	-4.94	-4.322	-4.229	-9.1	-	-9.805	-7.791	-6.311	-5.927	2.582	-10.57	-12.37	-13.75	-4.184	-27.86	-10.54	-10.52	-10.19	-9.88	-9.516
Change	-	-	-15.26%	-91.95%	9.16%	12.51%	2.15%	-115.18%	-	-	20.54%	19%	6.08%	143.56%	-509.49%	-16.98%	-11.2%	69.58%	-565.87%	62.17%	0.17%	3.15%	3.05%	3.68%
Announcement Date	3/30/21	5/13/21	8/16/21	11/15/21	3/31/22	5/16/22	8/15/22	11/14/22	3/31/23	8/15/23	11/14/23	3/28/24	5/14/24	8/12/24	11/12/24	3/26/25	5/13/25	8/13/25	11/6/25	-	-	-	-	-

¹CAD in Million

Estimates

Forecast Balance Sheet: Healwell AI Inc.

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026	2027
Net Debt ¹	-	-5.42	5.62	-	-	59	52.4	36.6
Change	-	-	203.69%	-	-	-	-11.19%	-30.15%
Announcement Date	3/30/21	3/31/22	3/31/23	3/28/24	3/26/25	-	-	-

¹CAD in Million

Estimates

Cash Flow Forecast: Healwell AI Inc.

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026	2027
CAPEX ¹	0.085	0.833	0.312	0.066	0.091	0.7	0.2	0.3
Change	-	880%	-62.55%	-78.85%	37.88%	669.23%	-71.43%	50%
Free Cash Flow (FCF) ¹	4.137	-7.931	-8.658	-	-26.36	-25.37	-2.75	-
Change	-	-291.71%	-9.17%	-	-	3.76%	89.16%	100%
Announcement Date	3/30/21	3/31/22	3/31/23	3/28/24	3/26/25	-	-	-

¹CAD in Million

Estimates

Forecast Financial Ratios: Healwell AI Inc.

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026	2027
Profitability
EBITDA Margin (%)	-	11.71%	-9.71%	-17.58%	-108.71%	-41.06%	1.85%	6.68%	9.78%
EBIT Margin (%)	-	-8.54%	-31.5%	-	-229.85%	-86.16%	-33.86%	-22.92%	-16.94%
EBT Margin (%)	-	-	-34.06%	-	-446.67%	-72.57%	-43.88%	-32.03%	-22.27%
Net margin (%)	-	-	-32.77%	-	-431.12%	-65.34%	-50.45%	-24.73%	-13.86%
FCF margin (%)	-	10.73%	-16.59%	-16.27%	-	-67.63%	-24.68%	-2.01%	-
FCF / Net Income (%)	-	-	50.61%	-	-	103.51%	48.91%	8.12%	-
Profitability
ROA	-4.43%	-15.69%	-27.24%	-24.58%	-22.14%	-23.84%	-	-	-
ROE	-5.19%	-82.19%	-103.67%	-96.99%	-183.88%	-57.66%	-	-	-
Financial Health
Leverage (Debt/EBITDA)	-	-	-	-0.6x	-	-	31.04x	5.72x	2.35x
Debt / Free cash flow	-	-	-	-0.65x	-	-	-2.32x	-19.04x	-
Capital Intensity
CAPEX / Current Assets (%)	-	0.22%	1.74%	0.59%	0.9%	0.23%	0.68%	0.15%	0.19%
CAPEX / EBITDA (%)	-	1.88%	-17.94%	-3.33%	-0.83%	-0.57%	36.85%	2.19%	1.93%
CAPEX / FCF (%)	-	2.05%	-10.5%	-3.6%	-	-0.35%	-2.76%	-7.27%	-
Items per share
Cash flow per share ¹	-	-	-	-	-	-0.1848	-	-	-
Change	-	-	-	-	-	-	-	-	-
Dividend per Share ¹	-	-	-	-	-	-	-	-	-
Change	-	-	-	-	-	-	-	-	-
Book Value Per Share ¹	-	-	-	-	-	-	-	-	-
Change	-	-	-	-	-	-	-	-	-
EPS ¹	-	-	-0.33	-0.42	-0.55	-0.19	-0.196	-0.11	-0.076
Change	-	-	-	-27.27%	-30.95%	65.45%	-3.16%	43.88%	30.91%
Nbr of stocks (in thousands)	-	-	48,905	50,075	87,987	168,729	293,195	293,195	293,195
Announcement Date	-	-	3/31/22	3/31/23	3/28/24	3/26/25	-	-	-