Hydreight Technologies Inc. (TSXV: NURS) (OTCQB: HYDTF) (FSE: SO6) reported record second-quarter revenue as pharmacy sales and activity across its U.S. digital-health infrastructure platform increased.
The company reported Q2 2026 revenue of C$28 million, up 421% from C$5.4 million in the same period of 2025. Revenue also increased approximately 12.5% from the first quarter of 2026.
Gross profit rose 182% to C$5.4 million from C$1.9 million. Hydreight recorded C$2.5 million in net income, compared with approximately C$50,000 one year earlier, while adjusted EBITDA increased to C$3.2 million from C$182,000.
For the six months ended June 30, revenue reached C$53 million, representing year-over-year growth of 434%. Six-month net income totaled C$5.1 million, while adjusted EBITDA reached approximately C$6.5 million.
Adjusted EBITDA is a non-IFRS financial measure that excludes items including depreciation, amortization, interest and certain other expenses. It may not be directly comparable with similarly named measures reported by other companies.
Hydreight said its growth was primarily driven by continued scaling of the VSDHOne platform, increased order flow, new business partners, renewals and additions to its service offerings.
Pharmacy product sales reached approximately C$26.2 million during the quarter, compared with C$4.5 million in Q2 2025. That means pharmacy transactions accounted for most of Hydreight’s reported quarterly revenue.
Although gross profit increased, the company’s gross-margin percentage declined from the prior-year period. Management attributed the decrease primarily to pharmacy sales representing a larger portion of total revenue and introductory pricing concessions associated with new compounding-pharmacy partnerships.
“We remain focused on execution,” CEO Shane Madden said. Management’s stated priorities include increasing platform utilization, expanding Hydreight’s partner and product ecosystem and investing in VSDHOne 2.0.
Hydreight ended the quarter with C$20 million in cash and C$35 million in working capital.
The company operates a platform combining healthcare-provider, pharmacy, technology and compliance services. Hydreight said its network supports more than 3,000 nurses, over 300 independent doctors and pharmacy relationships across all 50 U.S. states.
Its software includes tools for accounting, documentation, inventory, booking, sales and patient-data management. The platform is designed to help licensed providers deliver healthcare services at locations including patients’ homes, offices and hotels.
Upcoming Catalysts
Future financial reports will indicate whether Hydreight can maintain its recent revenue and earnings growth while improving its gross-margin percentage.
Other developments to monitor include adoption of VSDHOne 2.0, additions to the company’s pharmacy and healthcare-provider network and continued growth in platform utilization. Hydreight’s expansion remains exposed to changes in U.S. telehealth, pharmacy and healthcare regulations.
Sources
- Hydreight Reports Record Q2 2026 Results
- Hydreight Q1 2026 Financial Results
- Hydreight Investor Relations
- SEDAR+ Company Filings
Editorial Disclosure
This article is based entirely on publicly available information, including company news releases and regulatory filings. Securities discussed include Hydreight Technologies Inc. (TSXV: NURS) (OTCQB: HYDTF) (FSE: SO6). NextGenTechStocks.com has not received compensation from Hydreight Technologies, its management, investor relations representatives or any third party for this specific article. NextGenTechStocks.com may have current or past paid business relationships with other companies, which do not influence the content or conclusions of this article. No staff member or principal of NextGenTechStocks.com holds a position in any security mentioned at the time of publication.
Sources used include Hydreight’s second-quarter results announcement dated Aug. 31, 2026; its first-quarter results announcement dated June 2; and publicly available investor-relations and regulatory information.
Hydreight reported that pharmacy product sales represented approximately C$26.2 million of its C$28 million in quarterly revenue. Its gross-margin percentage declined year over year because of its sales mix and pricing concessions associated with new pharmacy partnerships. Adjusted EBITDA is a non-IFRS measure and may not be comparable with similarly named measures used by other companies.
Financial information is current as of June 30, 2026. Operational information is current as of Aug. 31, 2026. Hydreight’s business is subject to risks involving healthcare and pharmacy regulation, partner adoption, pricing, competition, platform execution and the availability of capital.
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