HIT — what changed in the latest 10-Q

Text added vs the prior filing · source: 10-Q · 2026-08-13

• As of June 30, 2026, we had 396 business clients in 38 states, with our services and platforms actively utilized by 629 brokers, 10 Third-Party Administrators (TPAs), and 294 additional third-party agencies. For the first half of 2026, total revenues were $16.8 million, a slight decrease of approxim…

• Contracted Revenue represents the total revenue expected to be generated over the contractual term of self-funded health plan policies placed through our platform. Standard self-funded plan policies generally have a contractual term of 12 months, while our Three-Year Rate Stabilization Program is de…

• Contracted Revenue totaled $32.3 million for the first half of 2026, of which $17.3 million was recognized as GAAP revenue in the first half of 2026. The remaining $14.0 million and $1.0 million are expected to be recognized as GAAP revenue in the second half of 2026 and in 2027, respectively.

• Pipeline Revenue represents revenue from self-funded plan policies that are being quoted, are in binding status, or have been contracted subsequent to the end of the reporting period. This metric reflects the entire contractual term of the underlying policies, some of which may not ultimately conver…

• As of July 31, 2026, we had approximately $66.3 million Pipeline Revenue, of which $1.9 million was contracted, while the remaining $64.4 million is in the quoting or binding stage.

Text removed vs the prior filing · source: 10-Q · 2026-05-14

• As of March 31, 2026, we had 507 business clients in 38 states, with our services and platforms actively utilized by 608 brokers, 11 Third-Party Administrators (TPAs), and 277 additional third-party agencies. In addition, we continued the revenue growth, with revenue up 9% year-over-year in the firs…

• On March 25, 2026, we entered into a securities purchase agreement for a private investment in public equity financing (the “PIPE”), which closed on March 27, 2026, resulting in gross proceeds of $7.0 million, before deducting placement agent fees and offering expenses. In connection with the closin…

• Contracted revenue represents the aggregate gross dollar value of contractually committed revenue under active policies as of the measurement date that is expected to be recognized in future periods. Our policies are typically written for terms of 12 months, and revenue is recognized ratably over th…

• As of March 31, 2026, contracted revenue expected to be recognized during the remaining three quarters of 2026 totaled $22.9 million.

• Contracted revenue provides visibility into future revenue that has been contractually secured but not yet earned or recognized, and reflects the forward revenue associated with in-force policies. We use this metric to evaluate the predictability of our revenue base and the growth of our business.

Text added vs the prior filing · source: 10-Q · 2026-08-13

• ● the future trading prices of our Class A common stock; and

Text added vs the prior filing · source: 10-Q · 2026-08-13

• ● the future trading prices of our Class A common stock; and

Text added vs the prior filing · source: 10-Q · 2026-08-13

• ● the future trading prices of our Class A common stock; and

Text added vs the prior filing · source: 10-Q · 2026-08-13

• ● the future trading prices of our Class A common stock; and

Text added vs the prior filing · source: 10-Q · 2026-08-13

• On August 10, 2026, Sanjay Shrestha, a member of the Board of Directors of the Company (the “Board”) resigned from the Board, effective immediately. In connection with his resignation from the Board, Mr. Shrestha also resigned from all committees of the Board on which he served, including the Audit …

• On August 12, 2026 (the “Effective Date”), the Company entered into a Standby Equity Purchase Agreement (the “SEPA”) with YA II PN, Ltd. (the “Investor”), pursuant to which the Company has the right, but not the obligation, to sell up to $20 million (the “Commitment Amount”) of shares of the Company…

• Pursuant to the SEPA, the Investor has agreed to provide the Company with pre-paid advances (each, a “Pre-Paid Advance”) in an aggregate principal amount of up to $15 million, to be evidenced by convertible promissory notes (the “Promissory Notes”). The Pre-Paid Advances are expected to be funded in…

• Each Pre-Paid Advance will be funded at a 5% purchase price discount to the principal amount of the applicable Promissory Note. The Promissory Notes will bear interest at 8.75% per annum (increasing to 18% upon certain events of default as specified therein) and will mature 18 months from the closin…

• Pursuant to the SEPA, the Company has agreed, among other things, (i) enter into the Registration Rights Agreement, (ii) to, within 90 calendar days of the Effective Date, subject to applicable Nasdaq rules and regulations, seek approval by the Company’s shareholders of (A) the issuance of Common Sh…

Text removed vs the prior filing · source: 10-Q · 2026-05-14

• This quarterly report, including, without limitation, statements under the heading “Management’s Discussion and Analysis of Financial Condition and Results of Operations,” includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended (the “Securities…

• We have based these forward-looking statements largely on our current expectations and projections about future events and trends that we believe may affect our financial condition, results of operations, business strategy short-term and long-term business operations and objectives and financial nee…

• ●our ability to obtain funding for our operations, including funding necessary to enhance our current systems as well as the development of additional functionalities of our systems and to expand our service offerings;

• ●the success, cost and timing of our system offering development activities;

• ●our ability to hire and retain necessary qualified employees to expand our operations;