olivLaw · US equity research
Health In Tech, Inc. HIT
Insurance Agents, Brokers & Service · SIC 6411 · Vertical: Insurance Agents, Brokers & Service (SIC 6411)
Health In Tech is an AI-enabled insurtech platform that connects brokers, third-party administrators and carriers to sell self-funded health plans and stop-loss insurance, mainly to small employers. The company grew fast, but first-half 2026 revenue dipped slightly and the net loss returned, so execution in the second half of the year matters.
At the close of 05 Nov 2026, Health In Tech, Inc. (HIT) stock was 0.58 USD (−3.61% on the day), with beta 1.10, 52-week range 0.54–2.92 USD. Latest reported quarter (Q2 2026): revenue of 8.1 m USD (−13.5% YoY), net income of -2.5 m USD (−498.2% YoY), diluted EPS -0.04 USD.
Data as of · AI analysis dated · Source: SEC filings and closing prices, computed by olivLaw.
Price history
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Technical reading
- RSI (14)
- 38.7
- weak (30–45)
- Bollinger (20, 2)
- 0.51 – 0.72
- in the lower half of the band · %B 0.32 · band width 34.9%
- SMA 50 / 200
- 0.77 / 1.14
- downtrend (price < SMA50 < SMA200)
- MACD (12, 26, 9)
- -0.06 / -0.07
- MACD above signal
Indicators describe past prices; on their own they do not predict direction. On our history the RSI ≤ 40 filter added no return (see the signals methodology).
Performance
| Company | S&P 500 | vs S&P 500 | Vertical median | |
|---|---|---|---|---|
| 1 month | −28.8% | −5.9% | −22.9 pp | — |
| 3 months | −48.5% | −4.6% | −43.9 pp | — |
| 6 months | −63.3% | +0.2% | −63.5 pp | — |
| Year to date | −63.7% | +7.4% | −71.2 pp | — |
| 1 year | −79.8% | +8.2% | −88.0 pp | −0.4% |
| 3 years | unavailable | +68.4% | unavailable | +4.0% |
| 5 years | unavailable | +56.5% | unavailable | — |
Price returns, dividends excluded.
Quarterly results
Latest quarter: Q2 2026 · 30 Jun 2026
Quarterly margins
Quarterly statements · USD
| Fiscal year | Q3 '24 | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 | Q2 '26 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 4.5 m | 4.9 m | 8.0 m | 9.3 m | 8.5 m | 7.5 m | 8.8 m | 8.1 m |
| Cost of revenue | 979.6 k | 1.1 m | 2.7 m | 3.0 m | 3.3 m | 3.4 m | 4.3 m | 4.1 m |
| Gross profit | 3.5 m | 3.8 m | 5.4 m | 6.3 m | 5.1 m | 4.1 m | 4.5 m | 3.9 m |
| Research & development | 718.4 k | 633.7 k | 537.7 k | 582.6 k | 235.8 k | 213.1 k | 920.4 k | 875.8 k |
| Depreciation & amortisation | 135.6 k | 136.0 k | 136.0 k | 136.0 k | 218.0 k | 410.6 k | 403.5 k | 320.3 k ≈ |
| Interest expense | 165.0 k | 0 | — | — | — | — | — | — |
| Pre-tax income | 406.7 k | -110.7 k | 684.4 k | 833.3 k | 600.2 k | -443.7 k | -2.1 m | -3.3 m |
| Income tax | 30.7 k | 33.4 k | 185.8 k | 202.6 k | 148.0 k | -141.2 k | -480.1 k | -809.9 k |
| Net income | 376.1 k | -144.2 k | 498.6 k | 630.6 k | 452.2 k | -302.6 k | -1.6 m | -2.5 m |
| Diluted EPS | 0.01 | -0.00 ≈ | 0.01 | 0.01 | 0.01 | -0.01 ≈ | -0.03 | -0.04 |
| Operating cash flow | 2.1 m ≈ | -531.2 k | 527.4 k | 1.5 m ≈ | 674.0 k ≈ | 451.2 k | -3.3 m | -2.9 m ≈ |
≈ derived quarter (cumulative difference / share-days average)
E/P over time
E/P = trailing-12-month diluted EPS / price at quarter end. E/P is the inverse of P/E and stays defined when earnings are negative.
Fiscal years
| Fiscal year | 2023 | 2024 | 2025 |
|---|---|---|---|
| Revenue | 19.2 m | 19.5 m | 33.3 m |
| Revenue YoY | unavailable | +1.8% | +71.0% |
| Net income | 4.0 m | 670.5 k | 1.3 m |
| Net income YoY | unavailable | −83.1% | +90.7% |
| Diluted EPS | unavailable | 0.01 | 0.02 |
| Diluted EPS YoY | unavailable | unavailable | +100.0% |
| net % | 20.7% | 3.4% | 3.8% |
| Free cash flow | unavailable | unavailable | unavailable |
Reported results vs expectations
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Balance sheet & financial health
Fiscal year 2025 · 31 Dec 2025
- Cash
- 7.7 m USD
- Financial debt
- unavailable USD
- Net debt
- unavailable USD
- Equity
- 17.1 m USD
- Total assets
- 23.1 m USD
- Debt / equity
- unavailable
- Current ratio
- 3.13x
- ROE
- 8.4%
- ROA
- 6.6%
- FCF margin
- unavailable
Financial statements (source on every figure)
Revenue and net income (USD)
Income statement · USD
| Line | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|
| Pre-tax income | 3.4 m | 889.0 k | 1.7 m | SEC (XBRL)· 25 Mar 2026verified |
| Net income | 4.0 m | 670.5 k | 1.3 m | SEC (XBRL)· 25 Mar 2026verified |
| Diluted EPS | — | 0.01 | 0.02 | SEC (XBRL)· 25 Mar 2026verified |
Balance sheet · USD
| Line | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|
| Cash | 2.4 m | 7.8 m | 7.7 m | SEC (XBRL)· 25 Mar 2026verified |
| Total assets | 11.5 m | 15.8 m | 23.1 m | SEC (XBRL)· 25 Mar 2026verified |
| Total liabilities | 5.4 m | 2.6 m | 6.0 m | SEC (XBRL)· 25 Mar 2026verified |
| Equity | 6.1 m | 13.2 m | 17.1 m | SEC (XBRL)· 13 Aug 2026verified |
Computed indicators
Growth
Profitability
Returns
Market and valuation
Insurance
32 indicators that do not apply to the sector.
Valuation
olivLaw classification
- indicators available: 2 of at least 6
- score weight coverage: 26.0% of at least 60%
- valuation methods computed: 0 of at least 1
A scoring methodology on indicators and valuation, not investment advice.
Closing price
05 Nov 2026Source: olivLaw, closing series
Market cap: unavailable
Key indicators
Coverage and freshness
Score by group
26% · Insufficient data
Estimated value range
unavailable — no valuation method could be computed
Valuation assumptions are editorial choices, not measured; beta is not measured.
Valuation methods
- Residual incomeunavailable · input data missing
- Justified P/Bunavailable · input data missing
- Dividend discount (DDM)unavailable · the company pays no dividend: a dividend model needs an explicit initiation assumption
- Peers: P/Eunavailable · the base of the ratio is not positive
- Peers: P/Bunavailable · input data missing
no valuation method could be computed
Classification (SIC) comparables group by industry code, not by economic activity; the direct group is an editorial selection by activity. Members' multiples are on their own trailing twelve months, at their own latest close.
Assumptions (illustrative, editorial)
- Risk-free rate
- 4.3%
- Equity risk premium
- 5.0%
- Beta (default)
- 1.00
- Cost of equity
- 9.3%
- Terminal growth
- 2.5%
Factor scorecard
Insufficient data
Minimum-evidence gate: indicators available: 2 of at least 6; score weight coverage: 26.0% of at least 60%; valuation methods computed: 0 of at least 1
| Factor | Value | Score | Weight used |
|---|---|---|---|
| ROE · Quality | -21.9% | 21 (vs peers) | 69% |
| Loss ratio · Quality | unavailable | unavailable | — |
| EPS CAGR 3Y · Growth | unavailable | unavailable | — |
| Revenue CAGR 3Y · Growth | unavailable | unavailable | — |
| ROA · Balance sheet | -15.2% | 0 (on a fixed band) | 31% |
| P/B · Valuation | unavailable | unavailable | — |
| P/E (TTM) · Valuation | unavailable | unavailable | — |
| Dividend yield · Returns | unavailable | unavailable | — |
| Payout ratio (EPS) · Returns | unavailable | unavailable | — |
Factors without a value were dropped; the remaining weights were renormalised.
Score groups
- Balance sheet0/100 · 1/1 factors with a value
- Growth· partialunavailable · 0/2 factors with a value
- Quality· partial21/100 · 1/2 factors with a value
- Returns· partialunavailable · 0/2 factors with a value
- Valuation· partialunavailable · 0/2 factors with a value
A «partial» group is computed from under half of its weight or from one factor: it is not a full assessment of the group.
Memo
Health In Tech, Inc. (HIT). Latest full fiscal year: 2025; data up to 2026-06-30.
Figures computed from the financial statements: YoY growth 71.0%; net margin -12.0%; ROE -21.9%.
Valuation cannot be computed from the available data.
Insufficient data for a verdict (indicators available: 2 of at least 6; score weight coverage: 26.0% of at least 60%; valuation methods computed: 0 of at least 1).
Text generated deterministically from the figures shown; no language model. Not investment advice.
What supports the thesis
No signal among the computed factors. That is not an absence of risk: factors without data were not assessed, and business risks (margins, inventory, demand) are in the source-based analysis.
What contradicts it
- ROE: -21.9%
- ROA: -15.2%
Not assessed (insufficient data or a ratio without meaning): Loss ratio, EPS CAGR 3Y, Revenue CAGR 3Y, P/B, P/E (TTM), Dividend yield, Payout ratio (EPS).
Versus the vertical median
Insurance Agents, Brokers & Service (SIC 6411) · same industry (4-digit SIC) · compared with 29 companies
Multiples and returns vs the median
Price rebased to 100 (monthly, 5 years)
Companies in the vertical
| Market cap | P/E | ROE | Net margin | Revenue YoY | 1A / 3A | |
|---|---|---|---|---|---|---|
| MRSHMarsh & Mclennan Companies, Inc. | 99.6 bn | 25.1 | 26.7% | 14.2% | +10.3% | +14% / +5% |
| XHGXChange TEC.INC | 83.6 bn | — | — | -204.9% | +24.9% | +244% / −100% |
| AJGArthur J. Gallagher & Co. | 73.9 bn | 43.5 | 7.2% | 10.4% | +20.7% | +16% / +16% |
| AONAon plc | 73.1 bn | 18.9 | 43.6% | 22.2% | +9.4% | −3% / +5% |
| WTWWillis Towers Watson PLC | 31.0 bn | 20.5 | 20.2% | 15.2% | −2.2% | +5% / +37% |
| BROBrown & Brown, Inc. | 24.7 bn | 22.2 | 9.7% | 17.6% | +22.8% | −8% / −0% |
| EQHEquitable Holdings, Inc. | 14.1 bn | 10.1 | — | 11.5% | −6.1% | +13% / +72% |
| AIFUAIFU Inc. | 9.7 bn | — | -155.9% | -408.8% | −67.9% | −85% / −100% |
| ACTEnact Holdings, Inc. | 6.4 bn | 10.0 | 12.9% | 54.1% | +2.8% | +23% / +72% |
| HGTYHagerty, Inc. | 6.4 bn | 106.0 | 25.6% | 4.4% | +17.3% | +37% / +117% |
| RYANRyan Specialty Holdings, Inc. | 5.3 bn | 50.7 | 19.4% | 3.2% | +21.3% | −17% / +5% |
| CRVLCorvel Corporation | 4.3 bn | 36.2 | 30.6% | 12.0% | +7.0% | +17% / +23% |
| WDHWaterdrop Inc. | 3.6 bn | 50.0 | 11.6% | 14.2% | +49.8% | −44% / −17% |
| ARXAccelerant Holdings | 3.3 bn | — | -241.6% | -112.1% | +51.5% | +36% / unavailable |
| NPNeptune Insurance Holdings Inc. | 2.7 bn | 89.6 | — | 22.7% | +33.7% | +20% / unavailable |
| GSHDGoosehead Insurance, Inc. | 1.2 bn | 34.1 | — | 8.8% | +16.2% | −21% / −22% |
| HUIZHuize Holding Limited | 1.1 bn | — | 1.0% | 0.3% | +32.2% | −33% / −49% |
| BWINThe Baldwin Insurance Group, Inc. | 1.1 bn | — | -10.7% | -4.7% | +8.3% | +12% / +83% |
| RDZNRoadzen Inc. | 94.5 m | — | — | -46.9% | +24.2% | −36% / −77% |
| SLQTSelectQuote, Inc. | 70.0 m | 5.8 | 23.4% | 4.6% | +6.0% | −73% / −69% |
| EHTHEhealth, Inc. | 16.8 m | — | 4.6% | 4.9% | +4.1% | −87% / −93% |
| EZRAReliance Global Group, Inc. | 2.1 m | — | -123.4% | -54.3% | −11.6% | −92% / −100% |
| CCGCheche Group Inc. | — | — | -5.0% | -0.6% | −13.3% | +804% / +12% |
| TWFGTWFG, Inc. | — | 10.4 | 65.4% | 13.3% | +22.0% | +2% / unavailable |
| ZBAOZhibao Technology Inc. | — | — | -141.3% | -22.4% | +53.0% | −100% / unavailable |
1- and 3-year price returns: for HIT from daily closes (the same as the performance table), for the other companies from month-end closes.
olivLaw engine forecast
The world engine ran after the company's latest material disclosure. Probabilities are of TOUCHING a level within the horizon (not closing there) and sit next to the random walk (p_rw), the no-information benchmark.
The engine has no published run for this company yet.
Valuation scenarios (editable assumptions)
Illustrative scenarios
Scenarios are not available. input data missing
AI analysis
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
In brief
Health In Tech is an AI-enabled insurtech platform that connects brokers, third-party administrators and carriers to sell self-funded health plans and stop-loss insurance, mainly to small employers. The company grew fast, but first-half 2026 revenue dipped slightly and the net loss returned, so execution in the second half of the year matters.123
SWOT
Strengths
- The eDIYBS platform delivers automated quotes in a short timeframe, and a large share of quotes are produced without manual review, supporting a speed advantage over traditional processes.1
- The distribution network is diversified across brokers, TPAs and agencies, and the number of partners grew by nearly a fifth in one year.3
- Signed contracts and contracted revenue give partial visibility into future revenue, as the company reports through its own metrics.3
Weaknesses
- The company reported a net loss and negative adjusted EBITDA in the first half of 2026, reflecting investment in distribution and technology.3
- The operating history is short, which makes it hard to evaluate current performance and the long-term business model.1
- Revenue depends on a small number of subsidiaries and on carrier relationships, so delays in those relationships can affect results directly.2
Opportunities
- The launch of HitRix and the expansion of the rate stabilization program could open new revenue sources if employers and institutions adopt them.3
- The mid-size and large employer segment, still underserved, could add volume to the platform.1
- If volume recovery in the third quarter is confirmed, part of the first-half delay could be recovered.2
Threats
- Changes in health insurance law, including single-payer scenarios, could adversely affect the business model.1
- Larger competitors with superior financial resources could cut prices and draw away the company's brokers.1
- If carriers fail to meet their servicing obligations, the company could lose clients and reputation.1
Risks
- Dependence on brokers and third-party agentshigh
Almost all business comes through intermediaries; if the network shrinks, revenue and operating results could be affected.1
- Carrier transition delayshigh
Onboarding a new carrier shifted revenue from one period to another, and a recovery in the third quarter is not assured.2
- Net losses and negative adjusted EBITDAmedium
Half-year results were negative, and future profitability is not assured, especially if investment continues.3
- Regulation and data privacymedium
Handling sensitive medical data exposes the company to complex regulation and the risk of security breaches.1
- Dual-class share structurelow
The dual-class structure concentrates voting control with executives, limiting the influence of other shareholders on major decisions.1
Investment thesis
What would need to be true (bull case)
- If the second half confirms a volume recovery and network growth, the company could reach the revenue range it has set for 2026.
- Contracted revenue and the pipeline provide a visibility base that could support growth if conversion proves favorable.
- The HitRix launch and the rate stabilization program could widen the addressable market beyond small firms.
What would break the thesis
- First-half revenue declined and losses returned, which could indicate difficulty turning growth into profitability.
- If the carrier transition drags on, part of the revenue expected for 2026 could slip into later years.
- Reliance on intermediaries and competition from larger players could limit growth and the company's bargaining power.
What to watch
- Volume recovery after the carrier transitionQ3 2026
- Launch of the HitRix platformsecond half of 2026
- Conversion of pipeline revenue into contracted revenuenext 10-Q
- Delivery against the 2026 revenue guidance2026
Products, market & competition
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
The business
Health In Tech is an insurance technology platform operating a marketplace where carriers list stop-loss policies for self-funded benefits plans and licensed brokers can obtain a bindable quote within about two minutes for small employers.1 It structures its services through three wholly-owned subsidiaries and states its mission as transforming a healthcare industry it describes as non-transparent, with a value of 5.3 trillion USD.1
Revenue comes from service fees and underwriting fees tied to enrolled employees, and distribution runs almost entirely through brokers, TPAs, MGUs and other third-party agents.12 That reliance on intermediaries makes the number of distribution partners a central indicator of the company's progress.3
Beyond its operating subsidiaries, the company is developing HitRix, a next-generation marketplace it plans to launch in the second half of 2026, and a three-year rate stabilization program that has not yet launched in the capital markets.3
Segments
SMR (self-funded benefits programs)
SMR designs customized health plans, selects networks and manages vendors; its revenue is a fixed fee per enrolled employee per month paid by employers, and it accounted for 79.4% of total revenue in 2025.1
ICE (managing general underwriter)
ICE manages underwriting, claims and reinsurance reporting for carriers through the eDIYBS platform; its revenue is a percentage of premium received and accounted for 20.6% of 2025 revenue, down from its prior-year share.1
Market context
The company cites a US group health insurance market of about 1.413 trillion USD in 2024, where a significant part of coverage is self-funded and requires stop-loss protection.1 According to the source, healthcare spending reached 18.0% of GDP in 2024 and about 99.9% of US firms are small businesses.1
The market is described as highly fragmented, and existing offerings are, according to the company, hard for small firms to access; the company's actual market share is not quantified in the sources reviewed.1
Trends
- Digitalization of insurance underwritingtailwind
Automated AI underwriting can cut quoting time from weeks to minutes, which could attract brokers seeking efficiency if the technology keeps its accuracy.1
- Rising healthcare costsmixed
Healthcare spending grows faster than the economy, which increases employer interest in cheaper self-funded plans but also adds pressure on pricing.1
- Seasonal enrollment cyclesheadwind
Platform usage is seasonal, concentrated around December and January renewals; if growth slows, seasonal swings could become more pronounced.1
- Carrier transition delaysheadwind
Onboarding a new stop-loss carrier delayed sales into later months of the first half of 2026; the company says the effect is a timing shift, but the transition could take longer than expected.2
Competitive position
The sources note that other self-insured medical plan administrators compete with the company and that some have greater financial resources, broader service scopes or relationships with more brokers and carriers.1
Competition centers on automation, client experience, pricing and access to quality providers; the company warns that competitors or new entrants could imitate its platform.1
- Self-insured medical plan administrators (unnamed)
Sources describe competitors with greater resources and broader broker relationships, without naming them.
- Stop-loss insurance carriers
Carriers are both partners and potential competitors, since they can offer products directly to employers.
- Broker platforms and agencies with in-house technology
The company notes that many competitors have relationships with more brokers and agents than it does.
- New entrants that could copy the platform
The risk is stated explicitly in the company's risk factors on copying of products and technology.
Links, dependencies and risks
Who the company is tied to, from its own SEC filings (customers, suppliers, production, partners, competitors, countries, regulation), from the 5 %+ holders' statements (13D/13G) and from what other companies say about it. Click a node for its evidence; on a listed company the graph moves to it.
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News & filings
In the press
No news in our archive over the last 180 days.
SEC filings
- Current report26 Oct 2026Departure or appointment of officers · Regulation FD disclosure · Financial statements and exhibits
- Current report16 Oct 2026Delisting notice
- Proxy statement13 Oct 2026
- Current report30 Sept 2026Regulation FD disclosure · Financial statements and exhibits
- Current report13 Aug 2026Regulation FD disclosure · Financial statements and exhibits
- Current report13 Aug 2026Regulation FD disclosure · Financial statements and exhibits
- Current report13 Aug 2026Results of operations · Regulation FD disclosure · Financial statements and exhibits
- Quarterly report13 Aug 2026
- Quarterly report14 May 2026
- Current report14 May 2026Regulation FD disclosure · Financial statements and exhibits
Sources
- [1] Form 10-K, fiscal year ended 2025-12-31 · SEC / Health In Tech, Inc. · 25 Mar 2026
- [2] Form 10-Q, quarter ended 2026-06-30 · SEC / Health In Tech, Inc. · 13 Aug 2026
- [3] Form 8-K, results release (exhibit 99.1) · SEC / Health In Tech, Inc. · 13 Aug 2026
Figures computed by olivLaw from SEC filings and closing prices; the qualitative analysis is AI-generated from cited sources. Not investment advice.