Omni-channel patient services revenue was $102 million in Q4-2022, an increase of 21% as compared to omni-channel patient services revenue of $84.3 million in Q4-2021. This growth was driven by acquisitions and organic growth during the past year. WELL achieved record quarterly revenue of $156.5 million in Q4-2022, an increase of 35% as compared to revenue of $115.7 million generated in Q4-2021. The increase in Adjusted Gross Margin (1) percentage is mainly due to the addition of higher margin CRH, MyHealth and Virtual Services revenue over the past year.Īdjusted EBITDA (1) was $104.6 million in 2022, an increase of 73% as compared to Adjusted EBITDA (1) of $60.4 million in 2021.Īdjusted EBITDA to WELL shareholders was $76.6 million in 2022, an increase of 83% as compared to Adjusted EBITDA to WELL shareholders of $42.0 million in 2021.Īdjusted Net Income (1) was $53.7 million, or $0.24 per share in 2022, an increase of 228% as compared to Adjusted Net Income (1) of $16.4 million, or $0.09 per share in 2021.įourth Quarter 2022 Financial Highlights: Virtual Services revenue was $192.4 million in 2022, an increase of 154% as compared to Virtual Services revenue of $75.6 million in 2021.Īdjusted Gross Profit (1) was $303.2 million in 2022, an increase of 97% as compared to Adjusted Gross Profit (1) of $153.7 million in 2021.Īdjusted Gross Margin (1) percentage was 53.3% in 2022, as compared to Adjusted Gross Margin (1) percentage of 50.8% in 2021. Omni-channel patient services revenue was $376.8 million in 2022, an increase of 66% as compared to omni-channel patient services revenue of $226.7 million in 2021. Total revenue for the year ended December 31, 2022, was $569.1 million, compared to total revenue of $302.3 million for the prior year, an increase of 88% driven by acquisitions and organic growth during the past year. We are building shareholder value by demonstrating a rapidly growing and highly predictable tech enabled enterprise." WELL's recurring or subscription related revenues grew to 10% of total revenues and our highly re-occurring patient services revenue accounted for 86% of total revenues. With our leadership position in the digital healthcare industry and continued cash flow generation, we are well-positioned for continued success in 2023 and beyond."Įva Fong, WELL's CFO commented, "We are very pleased to report that in fiscal 2022, 96% of WELL's $569.1M in revenues were either recurring or highly re-occurring in nature. With our contingent liabilities and deferred acquisition costs decreasing and our core cash flow increasing, we are in an excellent position to continue to have the option to allocate capital into new growth initiatives and/or further de-lever our debt position. Shahbazi further added, "WELL's committed and passionate high-performance team delivered $104.6 million in operating Adjusted EBITDA and $48.8 million in Adjusted Free Cash Flow (1) to shareholders in 2022. ![]() ![]() (TSX: WELL) (OTCQX: WHTCF) (the " Company" or " WELL"), a digital healthcare company focused on positively impacting health outcomes by leveraging technology to empower healthcare practitioners and their patients globally, is pleased to announce its audited consolidated financial results for the fiscal year and fourth quarter ended December 31, 2022. VANCOUVER, BC, Ma/PRNewswire/ - WELL Health Technologies Corp. The Company expects Annual Adjusted EBITDA to increase by more than 10% over 2022 levels as the Company invests in sustained profitable growth. WELL is pleased to provide a healthy growth outlook for 2023 with guidance for annual revenue between $665 million and $685 million. Omni-channel patient visits grew 50% in 2022 compared to the prior year, and total patient interactions grew 86% over the same time period. WELL achieved a total of approximately 3.5 million omni-channel patient visits and 4.9 million patient interactions in 2022. WELL achieved Adjusted EBITDA (1) of $27.2 million in Q4-2022, an increase of 6% as compared to Q4-2021 which included more than $2 million of pandemic related government incentives. WELL achieved record quarterly revenues of $156.5 million in Q4-2022, an increase of 35% as compared to Q4-2021.įor the full year, WELL achieved record annual Adjusted EBITDA of $104.6 million, an increase of 73% as compared to 2021. ![]() WELL achieved record annual revenue of $569.1 million for 2022, an increase of 88% compared to the prior year.
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