Key Highlights
- WELLSTAR reported Q3 2026 revenue of C$24.1 million, up 33% year over year.
- Annual recurring revenue was C$83.7 million at Sept. 30, 2026, up 27% year over year.
- Adjusted EBITDA was C$5.1 million (21% margin), and the quarter ended with C$93.0 million cash.
WELLSTAR Technologies Corp. (TSXV: WSTR) reported interim consolidated results for the three and nine months ended September 30, 2026, including quarterly revenue of C$24.1 million and adjusted EBITDA of C$5.1 million.
The digital health company said revenue rose 33% from C$18.1 million in Q3 2025 and increased 6% from C$22.8 million in Q2 2026. WELLSTAR attributed the year-over-year change to organic growth and contributions from acquisitions including Mutuo Health, PatientSERV, Lambert Médico Factures Inc., Sherritt Services Inc. and JCL Medical Systems Ltd.
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Annual recurring revenue (ARR), which the company describes as an annualized measure of recurring subscription and related arrangements in place at period-end, was C$83.7 million as of September 30, 2026. That compared with C$66.0 million a year earlier and C$80.1 million as of June 30, 2026.
Subscription and support services revenue totalled C$21.0 million, representing 87% of Q3 revenue, compared with C$15.6 million (86% of revenue) in Q3 2025.
Adjusted gross profit was C$18.0 million, up from C$13.9 million a year earlier, while adjusted gross margin was 75% versus 76% in Q3 2025.
WELLSTAR reported a net loss of C$49.5 million, or C$1.14 per share, compared with a net loss of C$1.7 million, or C$0.04 per share, in Q3 2025. The company said the Q3 2026 net loss was primarily due to C$51.5 million of non-cash, transaction-related accounting costs tied to its public listing.
Adjusted EBITDA was C$5.1 million, compared with C$5.2 million in Q3 2025, and increased from C$4.6 million in Q2 2026. WELLSTAR reported an adjusted EBITDA margin of 21% versus 28% a year earlier, citing the timing of delivery costs under a provincial contract and additional investments to operate as a public company and scale for growth.
In corporate updates, WELLSTAR said it completed a reverse takeover transaction involving 1587818 B.C. Ltd. on September 29, 2026. It also reported that its subordinate voting shares began trading on the TSX Venture Exchange on October 1, 2026 under the symbol WSTR.
WELLSTAR said it ended the quarter with C$93.0 million in cash and zero debt following the transaction, the conversion of redeemable preferred shares into subordinate voting shares, and the release of proceeds from a concurrent financing. The company also reported 77,223,308 shares issued and outstanding as of September 30, 2026, consisting of 41,620,000 multiple voting shares and 35,603,308 subordinate voting shares.
The original press release is available on stockhouse.com
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