Well Health Reports Record Revenue in 2024 but Misses Analyst Estimates and FundThrough Strengthens U.S. Presence with Acquisition of Ampla
Well Health Reports 2024 Results and FundThrough Strengthens its Market Position
Well Health Reports Record Revenue in 2024 but Misses Analyst Estimates
In my previous Substack, I covered Well Health’s (WELL) acquisition of a majority stake in Healwell AI to expand its capabilities. This time, I thought it would be good to discuss the company and its annual results in more detail.
For those unfamiliar with WELL, it’s a serial acquirer of healthcare assets that aims to digitize antiquated processes and consolidate fragmented healthcare markets. The company has made over 80 transactions and deployed over $1 billion CAD to date.
Although the company’s growth has been strong—with revenues increasing from $302 million CAD in 2021 to $920 million in 2024—its share price has experienced significant volatility. Just earlier this year in January, share price reached a high of $7.36 CAD before falling to $4.01 CAD on April 25.
In the most recent quarter, WELL reported record revenues but missed analyst estimates due to IFRS revenue deferrals. Nonetheless, most analysts remain optimistic about the company, citing strong guidance, organic growth potential, M&A opportunities, and the use of AI across WELL’s clinic network as some of the reasons for their positive outlook.
While the share price volatility isn’t for the faint of heart, WELL is a company worth looking into as its outlook remains strong. I’m looking forward to seeing if the company will meet its guidance and how it performs for the rest of the year.
FundThrough Strengthens Market Position with Strategic Acquisition and Significant Funding Milestone
Toronto-based FundThrough, a provider of invoice factoring services for small and medium-sized businesses, has recently acquired the American invoicing platform, Ampla. This strategic move is complemented by FundThrough securing a $25 million USD Series B funding round led by Klister Credit, with participation from the Canadian Business Growth Fund and Urbana Corporation.
FundThrough's invoice factoring service, which allows businesses to sell their unpaid client invoices for immediate cash, has funded nearly $3 billion worth of invoices to date. With this acquisition, FundThrough is positioned to enhance capabilities in automated onboarding and credit underwriting for small and medium-sized businesses.
CEO Steven Uster emphasized that the new capital will be invested in improving platform technology, integrating new invoicing software partners, and—most importantly—exploring potential future acquisitions. Uster stated that FundThrough is “well-positioned to be the consolidator platform,” and is actively seeking synergistic opportunities.
FundThrough’s acquisition of BlueVine in 2021 significantly increased FundThrough’s U.S. client base, which now accounts for 85% of its clientele, and has driven an average annual revenue growth of 50%. The addition of Ampla is expected to further solidify FundThrough’s market presence in the U.S.
As part of the acquisition, Anthony Santomo, CEO of Ampla, will join FundThrough as an advisor to ensure a smooth transition. Uster expressed high expectations for Santomo, citing his strong connections in the investor community and his vision for Ampla’s technology. If the transition period is successful, Santomo may take on a longer-term role at FundThrough.
These developments highlight FundThrough's strategic growth through acquisitions, its robust market presence in the U.S., and its readiness to capitalize on economic uncertainties.
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Tradervue has achieved remarkable results as part of SureSwift Capital’s portfolio, with 2024 being its best year yet for topline revenue. These impressive results were driven by strategic enhancements in SEO and Conversion Rate Optimization.
Looking forward to seeing all that Tradervue will achieve in 2025!