Vancouver – September 04, 2026 -- Hydreight Technologies Inc. (TSXV: NURS) (OTCQB: HYDTF) reported second-quarter 2026 revenue of $28.0 million, a 421% increase from $5.4 million a year earlier, as its VSDHOne virtual healthcare platform drove the company's strongest quarter on record.
Net income jumps to $2.5 million as pharmacy sales scale
Gross profit rose 182% to $5.4 million, while net income reached $2.5 million versus just $0.05 million in Q2 2025. Adjusted EBITDA climbed to $3.2 million from $0.2 million a year prior. Revenue grew approximately 12.5% and gross profit approximately 7% quarter-over-quarter versus Q1 2026, with net income and Adjusted EBITDA holding steady sequentially.
Six-month revenue hits $53.0 million, up 434% year-over-year
For the six months ended June 30, 2026, Hydreight generated $53.0 million in revenue, up from $9.9 million in the same period of 2025, alongside $5.1 million in net income and roughly $6.5 million in Adjusted EBITDA.
Pharmacy product sales surge to $26.2 million in the quarter
Pharmacy product sales increased to approximately $26.2 million in Q2 2026 from $4.5 million a year earlier. The company's virtual healthcare/direct-to-consumer segment generated $22.8 million in Q2 revenue, up from $0.7 million in Q2 2025, and $42.7 million over the first six months versus $1.0 million a year prior. Gross-margin percentage narrowed due to pharmacy sales representing a larger share of total revenue and pricing concessions tied to new compounding pharmacy partnerships; Hydreight targets roughly 20% margin on pharmacy sales before discounts and incentives.
Company reaffirms $150 million full-year 2026 revenue guidance
Hydreight ended the quarter with $20.0 million in cash and $35.0 million in working capital, up from $15.6 million and $15.7 million, respectively, at December 31, 2025. The company used approximately $8.7 million in operating cash during the first half of 2026 as it scaled pharmacy operations and funded new product lines. Hydreight's infrastructure spans all 50 U.S. states, supported by more than 3,000 nurses and more than 300 independent doctors.
CEO Shane Madden said the combination of continued top-line growth and sustained profitability demonstrates the strength of the platform as the company scales infrastructure built over several years. Management said it added approximately $0.8 million in development investment to VSDHOne 2.0 during the first half of 2026 and plans to continue expanding its partner and product ecosystem through year-end.