Vitalhub Corp.

Vitalhub reported Q2 2026 revenue of $31.7 million, up 33% year over year. Gross margin was 79% versus 81% in the prior-year period. Adjusted EBITDA was $8.2 million, or 26% of revenue, compared with $6.3 million, also 26% of revenue, a year ago. ARR reached $101.5 million at June 30, up 10% organically year over year; excluding Buddy Healthcare, pro forma ARR would have been approximately $106 million. Cash and investments were $136.5 million with no debt, and cash rose by more than $15 million in the quarter. Management did not provide formal next-quarter or full-year financial guidance, but said it still expects low-double-digit-like organic growth to continue despite UK headwinds, with more M&A expected through 2026 and beyond.

Dan Matlow struck an upbeat, execution-focused tone, emphasizing that crossing $100 million in ARR was a long-term milestone the company had targeted for years. He said the strategy is increasingly about combining point solutions into broader patient care coordination workflows, cross-selling integrated products, and adding AI features that customers are asking for. He also framed Buddy Healthcare as a strong fit that extends Vitalhub’s digital front door capabilities into a digital backdoor/patient engagement layer, which he believes will support future cross-sell opportunities.

Brian Goffenberg said the quarter showed continued margin and cash generation, with revenue of $31.7 million, adjusted EBITDA of $8.2 million, and adjusted EBITDA margin of 26%. He noted recurring revenue was $24.5 million, or 77% of total revenue, services/hardware/other revenue was $4.1 million, and cash and investments ended at $136.5 million with no debt. He also said the company generated strong cash conversion, with cash up more than $15 million in the quarter, and that post-Buddy the company still has over $120 million of cash available for M&A.

Analysts focused on the UK, asking whether referral wins were tied to dedicated funding or general budgets, and management said there is available money and a clear business case, with referrals spreading regionally after early wins. Questions also centered on Palantir/FTB-related disruption in the UK; management said some ARR was reduced by customers pausing, but other products offset it and a resolution could help rebound results next year. On margins, management said the 26% adjusted EBITDA margin is not structurally capped and that further upside should come as integration and cost work continue, though some work remains.