Health In Tech, Inc.

Listed Company

HITCIK 0002019505NasdaqNon-AcceleratedSmaller ReportingEmerging GrowthInsurance Agents, Brokers & ServiceFY ends Dec 31

Period

FY 2025

Revenue

$33.33M

Net Income

$1.28M

Total Assets

$23.09M

Equity

$17.11M

Shares Out

—

Op. Cash Flow

$3.13M

Business

Health In Tech, Inc. is an insurance technology company that operates an online marketplace to streamline underwriting, sales and administration for self-funded employer health plans and stop-loss insurance. It offers an AI-backed quoting and underwriting platform (eDIYBS), a benefits and data aggregation platform (HI Card), and program management and captive solutions through its Stone Mountain Risk and International Captive Exchange subsidiaries. Its key business segments include program management (SMR), a managing general underwriter/administrative services unit (ICE) and the HI Card platform. The company distributes its services through licensed brokers, TPAs and third-party agencies across multiple U.S. states via a web-based portal and partnerships.

Summary from filing dated 2025-03-17

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31
Total revenues	33	19	19
Cost of revenues	12	4	2
Gross profit	21	15	17
Sales and marketing expenses	4	3	3
General and administrative expenses	14	8	8
Research and development expenses	2	3	2
Total operating expenses	19	14	13
Interest income	409,922	122,885	40,857
Interest expenses	—	−495,000	−2,052
Other income	118,399	271,211	—
Other expense	−382,587	—	—
Total other income (expense), net	145,734	−100,904	38,805
Income before income tax expense	2	889,000	3
Provision for income taxes	−395,330	−218,523	−945,236
Net income	1	670,477	—
Basic (in Dollars per share)	0.02	0.01	—
Diluted (in Dollars per share)	0.02	0.01	—
Basic (in Shares)	56	52	—
Diluted (in Shares)	58	54	—

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31
Cash and cash equivalents	8	8	2
Accounts receivable, net	756,288	2	2
Loans receivable, net	815,995	—	—
Other receivables, net	3	500,252	2
Deferred offering costs	170,977	—	261,769
Prepaid expenses and other current assets	3	787,161	264,382
Total current assets	16	11	7
Software	7	4	4
Loans receivable, net	—	815,995	815,999
Operating lease right of use assets	139,940	206,269	266,641
Long-term prepaid expenses	258,151	—	—
Total non-current assets	7	5	5
Total assets	23	16	12
Accounts payable and accrued expenses	4	2	3
Income taxes payable	—	205,253	—
Operating lease liabilities current	76,195	66,881	58,482
Other current liabilities	891,598	—	—
Total current liabilities	5	2	5
Deferred tax liabilities	757,675	328,676	421,980
Operating lease liabilities non-current	63,617	139,811	206,693
Total non-current liabilities	821,292	468,487	628,673
Total liabilities	6	3	5
Commitments and contingencies (Note 6)	—	—	—
Additional paid-in capital	12	9	—
Retained earnings	5	4	3
Total stockholders equity	17	13	6
Total liabilities and stockholders equity	23	16	12

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31
Bad debt expense (recovery)	−16,234	1,878	—
Amortization expense	900,577	541,141	—
Provision for refund liability	4	—	—
Provision for credit losses on other receivables	377,587	—	—
Deferred tax expenses (benefits)	428,999	−93,304	133,980
Amortization of debt discount	—	495,000	—
Interest income	−64,000	−63,996	−15,999
Stock-based compensation expense	2	468,489	—
Accounts receivable	907,049	586,685	−1
Other receivables	−3	1	−2
Prepaid expenses and other assets	−2	−514,242	—
Operating lease right-of-use assets and liabilities, net	−551	1,889	—
Accounts payable and accrued expenses	2	−851,963	2
Income taxes payable	−205,253	−246,693	332,047
Other current liabilities	−3	—	—
Net cash provided by operating activities	3	2	2
Development of software	−3	−900,755	−1
Interest received from loans receivable	64,000	64,000	—
Net cash used in investing activities	−3	−836,755	−2
Proceeds from issuance of Class A common stock in connection with initial public offering, net of underwriting discounts and commissions	—	8	—
Proceeds from stock option exercises	23,430	—	—
Payments of deferred offering costs	−210,816	−2	−261,769
Repayments of notes payable	—	−2	—
Net cash provided by (used in) financing activities	−187,386	4	1
Increase (decrease) in cash and cash equivalents	−179,494	5	928,397
Cash paid for interest	—	—	2,052
Cash paid for income taxes	830,726	558,521	479,209
Accrued deferred offering costs included in accounts payable and accrued expenses	—	39,839	—
Accrued development of software included in accounts payable and accrued expenses	38,363	50,000	—
Issuance of Class A common stock for future service	1	—	—
Reclassification of deferred offering costs to additional paid-in capital upon initial public offering	—	2	3
Stock-based compensation capitalized for software development	290,726	—	—

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