- Hydreight (TSV:NURS) is a 10-bagger healthcare technology stock whose underlying company is rapidly expanding access to medical services
- The company operates one of the largest mobile clinic networks in the United States
- Operations have been profitable for three straight quarters, with leadership optimistic about the path ahead
While high-flying stock returns are always a cause for excitement, it’s a company’s underlying fundamentals that determine whether or not an investor should harbor conviction about outperformance continuing into the future.
It’s this understanding, that stock returns must be earned and never treated like a green flag to put money to work, that separates the average retail investor from the active investor, who knows that due diligence is the foundation of asset allocation.
Consider Hydreight Technologies, market capitalization C$193.51 million, which is building one of the largest mobile clinic networks in the United States, consisting of more than 3,000 nurses, 200 doctors and a pharmacy network spanning all 50 states.
Hydreight stock (TSXV:NURS) is a 10-bagger year-over-year, adding 938 per cent over the period, not because it’s been caught up in a certain tide that’s lifting all boats, as has been the case with AI and cryptocurrency, but because its financials paint a picture of rational, value-conscious growth.
The company has grown revenue by more than 27 times from C$1.02 million in 2020 to C$27.78 million in 2025, thanks to the intuitive appeal of its offerings, including:
- A platform that functions as an Uber for nurses, allowing clients to book medical services at any location of their choosing.
- The white label VSDHOne pharmacy software platform, growing from less than 200 licenses in October 2024 to a projected 1,000 by year-end 2025.
- Rigorously vetted lab, pharmacy and physician partners that practice a patient-centric approach built on timeliness and availability.
Hydreight’s emphasis on quality service has led operations to become cash flow positive, earning C$856,922 in 2024, while reaching positive adjusted EBITDA for the first time, earning C$489,704, as the company vies to close the gap between provider compliance and patient convenience by allowing healthcare professionals to work on their own terms.
Financial performance remains promising on the bottom line of the income statement, with the company showing clear progress from a net income loss of C$6 million in 2022, to a loss of C$1.94 million in 2023, to a loss of C$0.41 million in 2024, finding its way into net income profitability in Q4 2024 and maintaining it in Q1 and Q2 2025.
Management sees blue-sky potential ahead as it adds new treatments to the service suite – which currently spans mental wellness, weight loss, sexual health, hair, blood tests, genetic tests, skin and testosterone support – strengthening Hydreight’s case for growing into a significant share of the more than US$300 billion home healthcare market.
In this way, it’s reasonable for investors to suppose that recent returns are not built on a house of cards, benefitting instead from a multi-year, data-driven track record of increasing growth and profitability deserving of long-term conviction.
With the company outperforming its own growth projections thanks to rising demand across multiple treatment verticals, and an C$11.5 million financing secured in September, look for the stock to react positively to more evidence for sustainable growth, despite its meteoric rise, including planned AI integrations, strategic acquisitions and an ongoing focus on healthcare professional network expansion.
Continue your due diligence on Hydreight Technologies by delving into the company’s latest investor presentation.
Join the discussion: Find out what investors are saying about this 10-bagger stock on the Hydreight Technologies Inc. Bullboard and make sure to explore the rest of Stockhouse’s stock forums and message boards.
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